Water Electrolysis Machines: Introduction
- The process of breaking down oxygen from renewable sources and water into hydrogen is called electrolysis. A water electrolysis machine is used to produce hydrogen.
- Water electrolysis machines are used in various applications in many industries such as petroleum, chemicals, refineries, glass, automobile, metals & mining, and pharmaceuticals. Water electrolysis machines are primarily used in applications where reliable, accurate, and exact splitting is required.
- Water electrolysis machines are of three types: proton exchange membrane (PEM), alkaline water electrolysis, and solid oxide electrolyte (SOE).
- The global water electrolysis machine market is anticipated to expand at a rapid pace during the forecast period, due to increased demand for water electrolysis from various industries such as petroleum, chemicals, and power generation.
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Global Water Electrolysis Machine Market: Dynamics
Key Drivers of the Global Water Electrolysis Machine Market
- Rise in demand for carbon-free source of energy is expected to drive the demand for water electrolysis machines worldwide in the next few years.
- Furthermore, increasing demand for water electrolysis machines in chemical, pharmaceutical, and petroleum sectors is estimated to drive the market during the forecast period.
- Growth of the chemical sector across the world and rapid adoption of water electrolysis machines in this sector to separate two different components by chemical reaction is another factor estimated to boost the global water electrolysis machine market during the forecast period.
High Cost of Water Electrolysis Machines to Hamper the Global Market
- High cost of water electrolysis machines is anticipated to adversely impact their demand during the forecast period.
- Availability of substitute products in a few underdeveloped regions is also projected to hamper the global market during the forecast period.
North America to Hold Major Share of the Global Water Electrolysis Machine Market
- In terms of region, the global water electrolysis machine market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America dominated the global water electrolysis machine market in 2018 due to presence of well-established, technologically advanced manufacturers and increasing adoption of water electrolysis machines. The U.S. is a key market in North America due to extensive development of hydrogen through water electrolysis in the country. Hydrogen and fuel cells in North America provide a cleaner environment and energy security to the people. The U.S. has developed some standards to confirm that hydrogen and fuel cell products are safe and environment friendly. Hydrogen-powered bus and hydrogen-powered forklifts in retail stores are available in the U.S.
- Europe is anticipated to hold the second largest share of the global water electrolysis machine market during the forecast period. The water electrolysis machine market in Asia Pacific is projected to expand at a rapid pace between 2019 and 2027. This can be attributed to growth of chemical industries in the region.
Global Water Electrolysis Machine Market: Competition Landscape
Key Players Operating in the Global Water Electrolysis Machine Market
Several local, regional, and international players manufacture water electrolysis machines. Hence, the market is rather fragmented; intensity of competition is also high among players. Rapid technological advancements have led to threat of substitution in the global water electrolysis machine market. Manufacturers of water electrolysis machines are focusing on the production of water electrolysis machines that comply with international testing standards. For instance, PCE Deutschland GmbH designs water electrolysis machines in compliance with international testing standards such as ISO 3688 and ISO 2470.
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Key players operating in the global water electrolysis machine market are:
- ThyssenKrupp AG
- Linde AG
- Air Products and Chemicals, Inc.
- Siemens AG
- Teledyne Energy Systems Inc.
- AREVA H2Gen
- Hydrogenics Corporation
- ErreDue s.p.a.
- Peak Scientific
Global Water Electrolysis Machine Market: Research Scope
Global Water Electrolysis Machine Market, by Product Type
- Proton Exchange Membrane (PEM)
- Alkaline Water Electrolysis
- Solid Oxide Electrolyte (SOE)
Global Water Electrolysis Machine Market, by Industry
- Power Plants
- Electronics & Semiconductors
- Other Industries
- Steel Plant
Global Water Electrolysis Machine Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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