Water Electrolysis Market Size, Share & Trends Analysis Report By Product (Proton Exchange Membrane, Alkaline Water Electrolysis), By End-use (Chemicals, Power Plants), By Region, And Segment Forecasts, 2024 - 2030
Water Electrolysis Market Size & Trends
The global water electrolysis market size was estimated at USD 6.18 billion in 2023 and is projected to grow at a CAGR of 7.9% from 2024 to 2030. The market is poised for significant growth in the coming years, driven by several key factors. Firstly, the transition towards sustainability positively impacts market expansion as industries increasingly identify hydrogen as a crucial element for numerous future applications. With heightened interest in hydrogen as a green energy solution, ongoing innovations and technological advancements primarily target sustainable hydrogen production methods, thereby instigating the market.
Moreover, stringent government regulations on fossil fuel usage are expected to compel substantial demand for water electrolysis machines in near future. As hydrogen finds extensive use across various industries, particularly in fuel cell-based applications, it is significantly impacting hydrogen production. Water electrolysis machines stand as efficient solutions for sustainably producing hydrogen and in considerable volume, meeting the substantial demand for hydrogen as a green energy source and further elevating the market share in the upcoming years.
Global Water Electrolysis Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global water electrolysis market report based on product, end-use, and region:
- Product Outlook (Revenue, USD Million, 2018 - 2030)
- Proton Exchange Membrane
- Alkaline Water Electrolysis
- Solid Oxide Electrolyte (SOE)
- End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Chemicals
- Electronics & Semiconductor
- Power Plants
- Petroleum
- Pharmaceuticals
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- Spain
- France
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR’s Internal Database
- 1.3.3. Secondary Projects & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
- Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
- Chapter 3. Water Electrolysis Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospects Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Price Trend Analysis, 2018 to 2030 (USD/Unit)
- 3.4.1. Key Factors Influencing Pricing
- 3.5. Regulatory Framework
- 3.5.1. Standards & Compliances
- 3.5.2. Regulatory Impact Analysis
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Challenges Analysis
- 3.6.4. Market Opportunity Analysis
- 3.7. Business Environment Analysis
- 3.7.1. Industry analysis - porter’s five forces analysis
- 3.7.2. Industry analysis - Pestle analysis
- Chapter 4. Water Electrolysis Market: Product estimates & trend analysis
- 4.1. Movement analysis & market share, 2023 & 2030
- 4.2. Proton Exchange Membrane
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.3. Alkaline Water Electrolysis
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. Solid Oxide Electrolyte (SOE)
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 5. Water Electrolysis Market: End Use Estimates & Trend Analysis
- 5.1. End Use Movement Analysis & Market Share, 2023 & 2030
- 5.2. Chemicals
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.3. Electronics & Semiconductor
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Power Plants
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Petroleum
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Pharmaceuticals
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.7. Others
- 5.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 6. Water Electrolysis Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 6.3. North America
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.3.4. U.S.
- 6.3.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.4.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.4.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.3.5. Canada
- 6.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.5.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.5.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.3.6. Mexico
- 6.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.6.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.6.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.4. Europe
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.4.4. Germany
- 6.4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.4.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.4.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.4.5. UK
- 6.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.5.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.5.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.4.6. France
- 6.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.6.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.6.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.4.7. Italy
- 6.4.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.7.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.7.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.4.8. Spain
- 6.4.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.8.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.8.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.4.9. Russia
- 6.4.9.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.9.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.9.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.5. Asia Pacific
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.5.4. China
- 6.5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.4.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.4.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.5.5. India
- 6.5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.5.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.5.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.5.6. Japan
- 6.5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.6.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.6.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.5.7. Australia
- 6.5.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.7.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.7.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.6. Central & South America
- 6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.6.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.6.4. Brazil
- 6.6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.4.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.6.4.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.6.5. Argentina
- 6.6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.5.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.6.5.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.7. Middle East & Africa
- 6.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.7.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.7.4. Saudi Arabia
- 6.7.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7.4.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.7.4.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.7.5. South Africa
- 6.7.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7.5.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.7.5.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- 6.7.6. UAE
- 6.7.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7.6.2. Market estimates and forecasts, by Product, 2018 - 2030 (USD Million)
- 6.7.6.3. Market estimates and forecasts, by End Use, 2018 - 2030 (USD Million)
- Chapter 7. Competitive Landscape
- 7.1. Key Players & Recent Developments & Their Impact on the Industry
- 7.2. Key Company/Competition Categorization (Key innovators, Market leaders, emerging players)
- 7.3. List of key Component Suppliers and Channel Partners
- 7.4. Company Market Share & Position Analysis, 2023
- 7.5. Company Heat Map Analysis
- 7.6. Competitive Dashboard Analysis
- 7.7. Strategy Mapping
- 7.7.1. Expansion
- 7.7.2. Collaboration/ Partnerships/ Agreements
- 7.7.3. New End Use launches
- 7.7.4. Mergers & Acquisitions
- 7.7.5. Research & Development
- 7.7.6. Others
- 7.8. Company Listing / Profiles
- 7.8.1. Nel ASA
- 7.8.1.1. Company Overview
- 7.8.1.2. Financial Performance
- 7.8.1.3. Product Benchmarking
- 7.8.2. ThyssenKrupp AG
- 7.8.2.1. Company Overview
- 7.8.2.2. Financial Performance
- 7.8.2.3. Product Benchmarking
- 7.8.3. Asahi Kasei Corporation
- 7.8.3.1. Company Overview
- 7.8.3.2. Financial Performance
- 7.8.3.3. Product Benchmarking
- 7.8.4. Cummins Inc.
- 7.8.4.1. Company Overview
- 7.8.4.2. Financial Performance
- 7.8.4.3. Product Benchmarking
- 7.8.5. Plug Power Inc.
- 7.8.5.1. Company Overview
- 7.8.5.2. Financial Performance
- 7.8.5.3. Product Benchmarking
- 7.8.6. ITM Power PLC
- 7.8.6.1. Company Overview
- 7.8.6.2. Financial Performance
- 7.8.6.3. Product Benchmarking
- 7.8.7. Toshiba Energy Systems & Solutions Corporation
- 7.8.7.1. Company Overview
- 7.8.7.2. Financial Performance
- 7.8.7.3. Product Benchmarking
- 7.8.8. Teledyne Energy Systems Inc. Ltd.
- 7.8.8.1. Company Overview
- 7.8.8.2. Financial Performance
- 7.8.8.3. Product Benchmarking
- 7.8.9. Hitachi Zosen Corporation
- 7.8.9.1. Company Overview
- 7.8.9.2. Financial Performance
- 7.8.9.3. Product Benchmarking
- 7.8.10. Siemens Energy AG
- 7.8.10.1. Company Overview
- 7.8.10.2. Financial Performance
- 7.8.10.3. Product Benchmarking
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