Global Electrolysis for Hydrogen Production Market Growth 2023-2029

Global Electrolysis for Hydrogen Production Market Growth 2023-2029

According to our LPI (LP Information) latest study, the global Electrolysis for Hydrogen Production market size was valued at US$ 680.7 million in 2022. With growing demand in downstream market, the Electrolysis for Hydrogen Production is forecast to a readjusted size of US$ 19400 million by 2029 with a CAGR of 61.4% during review period.

The research report highlights the growth potential of the global Electrolysis for Hydrogen Production market. Electrolysis for Hydrogen Production are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Electrolysis for Hydrogen Production. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Electrolysis for Hydrogen Production market.

Nowadays, 96% of the global hydrogen produced comes from the use of fossil fuels (i.e., natural gas, oil); whereas production from water electrolysis represents only 4%. Indeed, the cost of hydrogen production by using fossil fuels is smaller than water electrolysis given that current electrolyzers are quite expensive and the cost of electricity as well. However, hydrogen production based on fossil fuels, namely gray hydrogen, suffers from lower purity and higher generation of greenhouse gases. To face the intensive use and depletion of fossil fuels to respond to hydrogen demands, water electrolysis supplied by renewable energy sources (e.g., wind turbine, photovoltaic) is considered an attractive and promising alternative. Renewable energy sources combined with water electrolysis come within the scope of the development of environmentally friendly hydrogen production pathways to substitute current hydrogen production based on pollutant fuels. Water electrolysis can produce hydrogen at high gas purity but features high cost (electrolyzer, electricity) and lower energy efficiency due to a high specific energy consumption. For this reason, energy efficiency, cost of electricity, and water electrolysis systems remain major concern to the development of water electrolysis process at a large scale. The water electrolysis process consists of using electricity coming from the power grid or renewable energy sources to split pure water into hydrogen and oxygen. The global market for water electrolysis for hydrogen production was estimated at US$ 689.98 million in the year 2022, is projected to reach a revised size of US$ 20.93 billion by 2029.

Key Features:

The report on Electrolysis for Hydrogen Production market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Electrolysis for Hydrogen Production market. It may include historical data, market segmentation by Type (e.g., Alkaline Electrolyzer, PEM Electrolyzer), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Electrolysis for Hydrogen Production market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Electrolysis for Hydrogen Production market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Electrolysis for Hydrogen Production industry. This include advancements in Electrolysis for Hydrogen Production technology, Electrolysis for Hydrogen Production new entrants, Electrolysis for Hydrogen Production new investment, and other innovations that are shaping the future of Electrolysis for Hydrogen Production.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Electrolysis for Hydrogen Production market. It includes factors influencing customer ' purchasing decisions, preferences for Electrolysis for Hydrogen Production product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Electrolysis for Hydrogen Production market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Electrolysis for Hydrogen Production market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Electrolysis for Hydrogen Production market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Electrolysis for Hydrogen Production industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Electrolysis for Hydrogen Production market.

Market Segmentation:

Electrolysis for Hydrogen Production market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
Alkaline Electrolyzer
PEM Electrolyzer
Solid Oxide Electrolyzer
Others

Segmentation by application
Chemical Industry
Power to Gas
Hydrogen Refueling Station
Power Industry
Electronics and Semiconductor
Steel Plant
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Plug Power Inc.
The 718th research institute of CSIC
LONGi Green Energy Technology Co., Ltd.
ThyssenKrupp AG
Cockerill Jingli Hydrogen
Nel ASA
Sungrow Power Supply Co., Ltd.
Beijing SinoHy Energy Co., Ltd.
Cummins Inc.
TianJin Mainland Hydrogen Equipment Co., Ltd.
Siemens
Yangzhou Zhongdian Hydrogen Production Equipment Co., Ltd.
Hydrogen Pro
Sany Hydrogen Energy Co., Ltd.
McPhy Energy S.A.
Shandong SAIKESAISI Hydrogen Energy Co., Ltd.
Kohodo Hydrogen Energy Co. Ltd
CPU Hydrogen Power Technology (Suzhou) Co., Ltd.
H2B2
ShaanXi HuaQin New Energy Technology Co., Ltd.
Sunfire GmbH
Teledyne Energy Systems, Inc.
Jiangsu Guofu Hydrogen Energy Equipment Co, Ltd.

Key Questions Addressed in this Report

What is the 10-year outlook for the global Electrolysis for Hydrogen Production market?

What factors are driving Electrolysis for Hydrogen Production market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Electrolysis for Hydrogen Production market opportunities vary by end market size?

How does Electrolysis for Hydrogen Production break out type, application?

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