Global Water Electrolysis
Market is expected to grow at a significant CAGR in the upcoming years as the
scope, Product Types and its applications are increasing across the globe. The
cumulative demand for carbon free source of energy, and an active way of
integrating renewable power with gas facilities are the factors driving the
water electrolysis market. Water electrolysis is mostly used in the petroleum
and chemical industry. Water Electrolysis Market is segmented, By Product Type
into Proton Exchange Membrane, and Alkaline Water Electrolysis. Water
Electrolysis Market is segmented, By Application into Power Plants, Electronics
& Semiconductor, Pharmaceuticals, Chemical industry, Petroleum, and Others.
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The “Chemical industry”
segment accounts for the largest share and is expected to continue with the
same during the upcoming period; thanks to increase in the use of water
electrolysis by the chemical industry. Additionally, the “Petroleum” segment
accounts for the second largest segment due to the increase in use and high
investment in the field of research and development. Water Electrolysis Market
is segmented, By Geographical Region into Asia Pacific (China, India, ASEAN,
Australia & New Zealand), Japan, Middle East and Africa (GCC countries, S.
Africa, Rest Of MEA), North America (U.S., Canada), Latin America (Brazil, Rest
of Latin America), Western Europe (Germany, Italy, France, England, Spain, Rest
of Western Europe), and Eastern Europe (Poland, Russia, Rest of Eastern
Europe).
Asia-Pacific is the largest
and fastest growing segment, which is estimated to grow at the highest CAGR in
the upcoming years. Improving economies and increasing consumers’ demand in
developing countries such as India and China are expected to drive the growth
of the water electrolysis market in Asia-Pacific region. North America accounts
for the second largest share as it is largely dependent on the strength of
economies. The availability of the cheap gas for the chemical manufacturers in
North America is expected to drive higher in the upcoming period. Water Electrolysis
Market Key Players include Siemens AG,Linde AG, Teledyne Energy System
Inc.,Hydrogenics Corporation, Erre Due s.p.a, Proton Onsite, Air Products and
Chemicals, Inc., Peak Scientific, Areva H2Gen.
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