Water Electrolysis Machine Market, By Technology, By Application, By End User, By Geography

Description

The global water electrolysis machine market is estimated to be valued at US$ 13.24 Bn in 2024 and is expected to reach US$ 22.46 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 13.24 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	7.80%	2031 Value Projection:	US$ 22.46 Bn

Figure. Water Electrolysis Machine Market Share (%), By Region 2024

Water Electrolysis Machine Market - IMG1

The global water electrolysis machine market is witnessing prominent growth in recent times. Water electrolysis refers to a process that uses electricity to break water into its constituent hydrogen and oxygen gaseous elements. Water electrolysis machines are increasingly being adopted for various applications across industries like energy, chemical, pharmaceuticals, electronics, and others. The growing focus on reducing dependence on fossil fuels and developing greener alternatives like hydrogen energy is driving the demand for water electrolysis machines globally. Moreover, factors like stringent emission norms, supportive government policies for clean energy adoption, and improving efficiency of electrolysis machines are also positively influencing the market expansion. However, high capital investment and lack of standardized infrastructure remain key challenges for the widespread adoption of these machines currently.

Market Dynamics:

The global water electrolysis machine market is primarily driven by the growing demand for clean and green energy. Strict environmental norms regarding carbon emissions from industries and automobiles have propelled the need for developing sustainable energy sources. This has boosted the adoption of hydrogen energy obtained through water electrolysis. Moreover, supportive government policies in the form of subsidies and initiatives toward renewable energy production are creating new growth avenues. For instance, the European Union's Hydrogen Strategy aims to install at least 6 GW of renewable hydrogen electrolyzers by 2024. On the other hand, high initial costs associated with water electrolysis plant setup and lack of standards are challenging the market growth. Developing low-cost electrocatalysts and standardized hydrogen infrastructure can help overcome these restraints. Furthermore, increasing investments in the research & development of advanced electrolysis technologies, such as alkaline electrolysis cells, provide major opportunities in the years to come.

Key Features of the Study:

This report provides in-depth analysis of the global water electrolysis machine market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global water electrolysis machine market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Air Products and Chemicals, Inc., AREVA H2Gen, Asahi Kasei Corporation, C&E Environmental Technology Co. Ltd., Cummins Inc., Enagic International Inc., Eneco Holdings Inc., ErreDue S.p.A., Hitachi Zosen Corporation, Hydrogenics Corporation, ITM Power Plc, Kobelco Eco-Solutions Co. Ltd., Linde AG, Nel ASA, and Siemens AG

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global water electrolysis machine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global water electrolysis machine market

Detailed Segmentation:

By Technology
- Alkaline Water Electrolysis
- Proton Exchange Membrane (PEM) Water Electrolysis
By Application
- Hydrogen Production
- Power Generation
- Energy Storage
- Others (Industrial, Research, etc.)
By End User
- Industrial
- Utility
- Commercial
- Others (Residential, Research, etc.)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- Air Products and Chemicals, Inc.
- AREVA H2Gen
- Asahi Kasei Corporation
- C&E Environmental Technology Co. Ltd.
- Cummins Inc.
- Enagic International Inc.
- Eneco Holdings Inc.
- ErreDue S.p.A.
- Hitachi Zosen Corporation
- Hydrogenics Corporation
- ITM Power Plc
- Kobelco Eco-Solutions Co. Ltd.
- Linde AG
- Nel ASA
- Siemens AG

Product Code: CMI7252

1. RESEARCH OBJECTIVES AND ASSUMPTIONS

Research Objectives
Assumptions
Abbreviations

2. MARKET PURVIEW

Report Description
- Market Definition and Scope
Executive Summary
- Global Water Electrolysis Machine Market, By Technology
- Global Water Electrolysis Machine Market, By Application
- Global Water Electrolysis Machine Market, By End User

3. MARKET DYNAMICS, REGULATIONS, AND TRENDS ANALYSIS

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Global Water Electrolysis Machine Market, By Technology, 2024-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Alkaline Water Electrolysis
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Proton Exchange Membrane (PEM) Water Electrolysis
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)

5. Global Water Electrolysis Machine Market, By Application, 2024-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Hydrogen Production
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Power Generation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Energy Storage
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Others (Industrial, Research, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)

6. Global Water Electrolysis Machine Market, By End User, 2024-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Utility
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Others (Residential, Research, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)

7. Global Water Electrolysis Machine Market, By Region, 2020 - 2031, Value (US$ Bn)

Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (US$ Bn)
- Market Y-o-Y Growth Analysis (%), 2020 - 2031, Value (US$ Bn)
- Regional Trends
  - North America
- Introduction
U.S.
Canada
Latin America
- Introduction
Brazil
Argentina
Mexico
Rest of Latin America
Europe
- Introduction
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
- Introduction
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
- Introduction
GCC Countries
Israel
Rest of Middle East
Africa
- Introduction
South Africa
North Africa
Central Africa

8. COMPETITIVE LANDSCAPE

Air Products and Chemicals, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
AREVA H2Gen
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Asahi Kasei Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
C&E Environmental Technology Co. Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Cummins Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Enagic International Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Eneco Holdings Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
ErreDue S.p.A.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Hitachi Zosen Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Hydrogenics Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
ITM Power Plc
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Kobelco Eco-Solutions Co. Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Linde AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Nel ASA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Siemens AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. References and Research Methodology

References
Research Methodology
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