Global Water Electrolysis Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview

of Global Water Electrolysis market:
The latest research study on the global Water Electrolysis market finds that the global Water Electrolysis market reached a value of USD 311.78 million in 2022. It’s expected that the market will achieve USD 985.3 million by 2028, exhibiting a CAGR of 21.14% during the forecast period.

Electrolysis is a promising option for hydrogen production from renewable resources. Electrolysis is the process of using electricity to split water into hydrogen and oxygen. This reaction takes place in a unit called electrolyze. Electrolyzes can range in size from small, appliance-size equipment that is well-suited for small-scale distributed hydrogen production to large-scale, central production facilities that could be tied directly to renewable or other non-greenhouse-gas-emitting forms of electricity production.

The production and sales of Water Electrolysis are affected by Covid-19
In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, especially labor-intensive industries, affected by the supply of raw materials and labor shortages.
For the Water Electrolysis industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some small factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises.
But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Market expansion in developed countries drives the development of the industry
In developed markets, there are more international companies, good channels, high market maturity, fierce competition among industries, and market expansion among enterprises through mergers and acquisitions. The company's high-quality management team, technical and financial advantages, continuous innovation, highlighting the large investment of market participants in R&D, the introduction of new technologies, the company's product development and innovation, created the company's brand effect, and improved its international popularity. All these factors will promote the growth of market demand for Water Electrolysis, thus promoting the development of the industry.

Competition in the industry is fierce
For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Understanding industry competitors is essential to successfully market products. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made. The Water Electrolysis industry is facing a fierce competitive position. Many companies have been doing business in this industry. They pay more attention to R&D, product innovation, channel construction and customer relationship management, trying to gain greater market share and competitive advantage.

Region Overview:
North America dominated the Water Electrolysis market in 2021, with a market share of 34.81%.

Company Overview:
Nel Hydrogen (Proton On-Site) is one of the major players operating in the Water Electrolysis market, holding a share of 16.42% in 2022.

Nel Hydrogen (Proton On-Site)
Nel Hydrogen is the first dedicated hydrogen company on the Oslo Stock Exchange. Its main products are hydrogen production plants for industry and energy applications, hydrogen fueling stations for the transport sector, and power-to-gas/power-to-power solutions for the renewable industry.

Suzhou Jingli
Cockerill Jingli Hydrogen (CJH) is a joint venture founded by Suzhou Jingli Hydrogen Production Equipment Co., Ltd. and John Cockerill Group from Belgium in 2018 in Suzhou China. CJH is mainly engaged in the design, development, manufacture and sales of hydrogen production equipment in various industries. The company is the headquarter of John Cockerill Group's hydrogen energy business in China.

Segmentation Overview:
By type, Traditional Alkaline Electroliser segment accounted for the largest share of market in 2021.

Traditional Alkaline Electroliser
Alkaline water electrolysis is a type of electrolyzer that is characterized by having two electrodes operating in a liquid alkaline electrolyte solution of potassium hydroxide (KOH) or sodium hydroxide (NaOH).

PEM Electroliser
Polymer electrolyte membrane (PEM) electrolysis is to electrolyze water in an electrolytic cell filled with solid polymer electrolyte (SPE), which is responsible for proton conduction, product gas separation and electrical insulation of electrodes. The PEM electrolyzer is introduced to overcome the problems of partial load, low current density and low-pressure operation that currently plague alkaline electrolyzer. It comprises a proton exchange membrane.

Application Overview:
The market's largest segment by application is the segment Energy Storage or Fueling for FCEV's, with a market share of 23.04% in 2021.

The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Water Electrolysis market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.

For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.

As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.

Research Scope
This report provides an overview of the global Water Electrolysis market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Water Electrolysis and its sub-markets in an intuitive way.

Key Companies in the global Water Electrolysis market covered in Chapter 3:
Kobelco Eco-Solutions
718th Research Institute of CSIC
Asahi Kasei
Elogen (Areva H2gen)
Siemens
TianJin Mainland
EM Solution
Erredue SpA
Beijing Zhongdian
Suzhou Jingli
McPhy
Elchemtech
Yangzhou Chungdean Hydrogen Equipment
Teledyne Energy Systems
Thyssenkrupp
ShaanXi HuaQin
Hydrogenics
Nel Hydrogen (Proton On-Site)
ITM Power
Idroenergy Spa
H2B2

In Chapter 4 and Chapter 14.2, on the basis of types, the Water Electrolysis market from 2018 to 2029 is primarily split into:
Traditional Alkaline Electroliser
PEM Electroliser

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Water Electrolysis market from 2018 to 2029 covers:
Power Plants
Steel Plant
Electronics and Photovoltaics
Industrial Gases
Energy Storage or Fueling for FCEV's
Power to Gas
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:
North America (United States, Canada)

Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)

Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)

Latin America (Brazil, Mexico, Argentina)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)

Key Factors Considered

COVID-19
Amid the COVID-19 crisis, the Water Electrolysis market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.

Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.

Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

Chapter Outline

Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.

Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.

Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.

Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.

Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.

Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.

Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.

Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.

Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.

Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.

Years considered for this report:

Historical Years:

2018-2022

Base Year:

2022

Estimated Year:

2023

Forecast Period:

2023-2029