Water Electrolysis Machine Market
Water Electrolysis Machine Market - By Type, By Application, By Input Power, By Hydrogen Production, By Industry Vertical & Global Region - Market Size, Trends, Opportunity, Forecast 2021-2026Request Sample Request Discount
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Water Electrolysis Machine MarketRequest Sample
Electrolysis is the process of decomposition of water into oxygen and hydrogen gas by using electricity. This can be used in welding and other applications. There is a requirement of the minimum potential difference of 1.23 volts is also known as water splitting. For the production of hydrogen and oxygen various water electrolysis machines are used. These machines are divided into three types that are alkaline electrolysis, proton exchange membrane (PEM) electrolysis, and solid oxide electrolysis. Such machines are useful in the coal, petroleum, and chemical industries. The global water electrolysis machine market USD 10.6 billion in 2020.
The increasing demand for water electrolysis machines in various end-use industries such as chemical, oil & gas, energy & power, automotive, electronics, and other industries is the major driving factor for the market. In the chemical industry, water electrolysis is used for the production of specialty chemicals or various small-scale applications. Another reason for using water electrolysis machines is the zero-pollution production of hydrogen and oxygen. In 2021, global chemical production is expected to rise by 4.4% which is above the average for the years prior to covid. In advanced economies, the growth rate is expected to be 2.5% which above the pre-crisis years. Such a rising chemical industry globally will create a positive impact on the demand for water electrolysis machines.
More than 80% of the wastewaters flow back into the ecosystem without being treated or reused. The water demand is increasing due to the population growth, rapidly expanding cities, various industrial development. In recent years, the pressure due to society and the environment is increasing, leading to a rise in the concern about the reduction in the wastewater and treat it and reuse it in industries. Industries are looking at wastewater as a potential resource and taking actions towards recycling after suitable treatment, providing economic and financial benefits. Thus, wastewater treatment is the need of an hour which will further drive the global water electrolysis machines market in the forecast period.
The electrolysis is used in the storage of renewables electricity storage. It converts electrical energy into chemical energy by storing electrons. So, this energy can be used as fuel. The cost of wind power is continuously dropping due to the variability of wind. Hydrogen fuel and electric power generation can be integrated at a wind farm. Sometimes the excess electricity is generated at wind power plants so in that case the excess of electricity can be used for the production of hydrogen through electrolysis. The hydrogen produced through the water electrolysis technique promoted the concept of renewability because it can be used as a non-greenhouse gas energy source. These provide an application in other industries such as semiconductor and food industry as there is the requirement of small volumes of high purity hydrogen. Thus, the overall water electrolysis machines market is expected to grow at a significant rate in the forecast period.
In terms of water electrolysis machine types, out of proton exchange membrane (PEM) electrolysis, alkaline electrolysis, solid oxide electrolysis, and alkaline water electrolysis machines dominate the market to the increasing use of these machines in the power and chemical sector.
In terms of input power, below 5MW water electrolysis machines are becoming more popular than the other range of input power. Based on hydrogen production, below 500 L/Hr machines are expected to take the largest share in the market.
In the end-use industries, the chemical industry is taking the largest share as water electrolysis is an important process in the petrochemical industry for wastewater treatment applications and other applications.
- Proton Exchange Membrane (PEM) electrolysis
- Alkaline Electrolysis
- Solid oxide electrolysis
- Electrode Coating
By Input Power
- Below 5 kW
- 2 kW – 5 kW
- Above 5 kW
By Hydrogen Production
- Below 500 L/Hr
- 500 – 2000 L/Hr
- Above 2000 L/Hr
By Industry Vertical
- Oil & Gas
- Energy & Power
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The Asia Pacific is the most dominating region in the water electrolysis machines market due to the rising industrialization and growing chemical industry in countries like China, India, and other countries. After Asia, North America is taking the largest share in the market. The rising investment in the U.S., Canada, and Mexico to produce carbonized energy sources to eco-friendly alternatives will be the driving force. Further, the initiatives are taken by the U.S. government for the desulphurization of fossil fuels propelling the growth of the market. The increasing demand for water electrolysis process for the production of hydrogen from other regions will fuel the market in the near future.
Few Key Players in the Water Electrolysis Machine Market
- Air Products and Chemicals, Inc.
- ErreDue s.p.a.
- Hydrogenics Corporation
- Linde AG
- Peak Scientific
- Siemens AG
- Teledyne Energy Systems Inc.
- ThyssenKrupp AG
- Nel ASA
- AREVA H2Gen
- Asahi Kasei Corporation
- C&E Environmental Technology Co. Ltd.
- Enagic International Inc.
- Eneco Holdings Inc.
- Hitachi Zosen Corporation
- Hydrogenics Corporation
- ITM Power Plc
- Peak Scientific
- Kobelco Eco-Solutions Co. Ltd.
- Teledyne Technologies Inc.
- Toshiba Energy Systems & Solutions Corporation
Custom Research Requirement? Questions to ask?Get in touch
Custom Research requirement.