Yahoo Finance Global Water Electrolysis Market Report 2022-2031: Growing Demand for Hydrogen Fuel Cell Vehicles, Green Ammonia, Green Methanol, and Other Applications Presents New Avenues For Expansion
Global Water Electrolysis Market
Dublin, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The "Water Electrolysis Market - A Global and Regional Analysis: Focus on End-Use Application, Electrolyzer Type, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
An electrolyzer is a system that breaks water into hydrogen and oxygen with the help of electricity. This process is known as electrolysis and it is mainly used to produce hydrogen, which is then stored as a compressed or liquefied gas. Oxygen produced during the electrolysis process is either released into the atmosphere or is stored to use for other purposes.
International Energy Agency (IEA) has projected that the energy demand will grow between 25% to 30% by 2040 with companies and governments trying to find sustainable and low-carbon emission energy sources. Hydrogen is being called the fuel of the future and IEA has projected that hydrogen production from water electrolysis can prevent the 830 million tons of CO2 annually from entering the atmosphere. Moreover, the growing demand for hydrogen fuel cell vehicles, green ammonia, green methanol, and other applications is driving the growth of the water electrolysis market.
Industrial Impact
The growth of the water electrolysis market is closely tied to the hydrogen and ammonia market. Water electrolysis is one of the clean methods for the production of hydrogen and is highly sustainable as there are no emissions and the feedstock used for hydrogen production is water. The growing demand for green hydrogen and green ammonia are among the major drivers of the growth of the water electrolysis market.
Market Segmentation
by End-Use Application
Transportation/Mobility Industry
Refining Industry
Power and Energy Storage
Ammonia Production
Methanol Production
Other End-Use Applications
by Electrolyzer Type
Alkaline Electrolyzer
Proton Exchange Membrane (PEM) Electrolyzer
Solid Oxide Electrolyzer Cell (SOEC)
Anion Exchange Membrane (AEM) Electrolyzers
by Region
North America - U.S., Canada, and Mexico
Europe - Germany, France, Netherlands, Spain, and Rest-of-Europe
China
U.K.
Asia-Pacific and Japan - Japan, India, South Korea, Australia, and Rest-of-Asia-Pacific and Japan
Rest-of-the-World - South America, Middle East and Africa
Demand - Drivers and Limitations
Following are the demand drivers for the water electrolysis market:
Increasing Use of Hydrogen in the Petroleum Refining Industry
Rising Demand for Green Fertilizers
Increasing Government Activities toward Low-Carbon Infrastructure
Decreasing Cost of Renewable Energy and Water Electrolysis Technology
The market is expected to face some limitations too due to the following challenges:
Expensive Hydrogen Technology
High Energy Losses during the Electrolysis Process
Key Topics Covered:
1 Markets
2 Application
3 Products
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
6 Research Methodology
Companies Mentioned
Asahi Kasei Corporation
Nel ASA
thyssenkrupp AG
Cummins Inc.
Toshiba Energy Systems & Solutions Corporation
Teledyne Energy Systems Inc.
Suzhou Green Hydrogen Energy Co., Ltd.
Suzhou Jingli Hydrogen Production Equipment Co., Ltd.
ITM Power PLC
Clean Power Hydrogen Group Limited
Plug Power Inc.
Hitachi Zosen Corporation
John Cockerill
Siemens Energy AG
McPhy Energy S.A.
Enapter AG
Elogen
h2e Power Systems Pvt. Ltd.
Ohmium
Hystar
Verdagy
OxEon Energy, LLC
EvolOH, Inc.
Evolve Hydrogen Inc.
ERGOSUP
For more information about this report visit https://www.researchandmarkets.com/r/ywxj92
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