Water Electrolysis Market Hits USD 1.8 billion in 2023, Charts Course for 7.1% CAGR Soar Until 2030

How big is the Global Water Electrolysis market?

According to MarkNtel Advisors study, The Global Water Electrolysis Market was valued at around USD 1.8 billion during 2023 and is estimated to grow at a CAGR of about 7.1% during the forecast period, i.e., 2024-30.

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Global Water Electrolysis Market Opportunity:

Advancements in Urban Wastewater Treatment to Open New Avenues for the Market – Water quality degradation has recently become a major concern as a result of industrial advancements. The oil industry is one of the most significant sources of pollution. Therefore, strict environmental protection legislation has been enacted. In line with this, the EPA's research has identified water electrolysis as a viable technique for treating hazardous waste from industrial zones, thus creating an opportunistic arena for the Water Electrolysis Market growth. Furthermore, as electrocoagulation methods gain popularity, the water electrolysis process has become an essential component of wastewater treatment facilities, further contributing to upgrading the market's growth graph in the forecast years.

Leading Companies in the Global Water Electrolysis market:

Audlong Machinery Manufacturing Co., Ltd.
ThyssenKrupp AG
Linde plc
Siemens AG
Plug Power Inc.
Cummins Inc.
Erre Due SpA
Peak Scientific Instruments
Asahi Kasei Corporation
Nel ASA
ITM Power Plc
Enapter AG
John Cockerill
Proton Onsite
Teledyne Technologies Inc.
Others

Global Water Electrolysis Market Segmentation:

By Product

Alkaline Electrolyzer- Market Size & Forecast 2019-2030F, USD Million
Proton Exchange Membrane (PEM) Electrolyzer- Market Size & Forecast 2019-2030F, USD Million
Solid Oxide Electrolyzer Cell (SOEC)- Market Size & Forecast 2019-2030F, USD Million
Anion Exchange Membrane (AEM) Electrolyzers- Market Size & Forecast 2019-2030F, USD Million

By Application

Refining Industry- Market Size & Forecast 2019-2030F, USD Million
Power & Energy Store- Market Size & Forecast 2019-2030F, USD Million
Ammonia Production- Market Size & Forecast 2019-2030F, USD Million
Methanol Production- Market Size & Forecast 2019-2030F, USD Million

By Input Power

Below 5kW- Market Size & Forecast 2019-2030F, USD Million
2kW-5kW- Market Size & Forecast 2019-2030F, USD Million
Above 5kW- Market Size & Forecast 2019-2030F, USD Million

By Hydrogen Production

Below 500L/Hr- Market Size & Forecast 2019-2030F, USD Million
500-2000 L/Hr- Market Size & Forecast 2019-2030F, USD Million
Above 2000 L/Hr- Market Size & Forecast 2019-2030F, USD Million

Alkaline water electrolysis processes, with salt water electrolysis machine, is presumed to hold a substantial share of the Water Electrolysis Market due to its higher demand among the end-users.

By End Users

Chemical Industry- Market Size & Forecast 2019-2030F, USD Million
Electronics & Semiconductors Industry- Market Size & Forecast 2019-2030F, USD Million
Power Plants- Market Size & Forecast 2019-2030F, USD Million
Petroleum Industry- Market Size & Forecast 2019-2030F, USD Million
Pharmaceutical Industry- Market Size & Forecast 2019-2030F, USD Million
Others (Steel Plants, Transportation/Mobility Industry, etc.)- Market Size & Forecast 2019-2030F, USD Million

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Regional/ Countries Insight:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

In the coming years, the Asia-Pacific region is poised to hold a substantial share of the Water Electrolysis Market.

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About MarkNtel Advisors:

MarkNtel Advisors is a leading consulting, data analytics, and market research company that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.