BIS Research Study Forecasts Global Water Electrolysis Market to Reach $7.17 Billion by 2031
FREMONT, Calif., July 26, 2022 /PRNewswire/ — BIS Research’s premium study titled Water Electrolysis Market – A Global and Regional Analysis projects the market to achieve $7.17 billion in terms of revenue by 2031, at a CAGR of 35.4%.
Water electrolysis is the process of converting electrical energy into chemical energy in the form of hydrogen and oxygen, and an electrolyzer is a system that breaks water down into hydrogen and oxygen using electricity.
With a growing emphasis on sustainable and low-carbon technology, water electrolysis has gained traction in recent years. Companies are increasingly interested in water electrolysis because it emits no carbon emissions and the residual water is used as a raw material, which is cheap and available in abundance.
The International Energy Agency (IEA) has predicted that energy demand will increase by 25-30% by 2040 as businesses and governments try to find sustainable, low-carbon energy sources .
This global water electrolysis market report segments the market based on electrolyzer type and end-use industry/application as well as region. Catalysts and membranes used in electrolyzers are excluded from the report as they are not part of the study.
The detailed study is a compilation of 80 market data tables and 32 figures spread over 261 pages and an in-depth table of contents on “Global Water Electrolysis Market – Analysis and Forecast, 2022-2031” .
Demand – Factors and Limitations
Following are the demand drivers for the water electrolysis market:
- Increase in the use of hydrogen in the petroleum refining industry
- Growing demand for green manures
- Increase government activities towards low-carbon infrastructure
- Decreased cost of renewable energy and water electrolysis technology
The market is also expected to face some limitations owing to the following challenges:
- Expensive hydrogen technology
- High energy losses during the electrolysis process
Reasons to buy this report
This exclusive Water Electrolysis Market Report will help you in the following ways:
- Critical analysis of four types of water electrolyzer systems
- Assessment of key start-ups in the water electrolysis market
- Overview of the global green hydrogen market
- Global Green Ammonia Market Overview
- Patent analysis for patents filed related to water electrolysis since January 1, 2019
Market Analyst’s View:
According Sanyam Tetarwal, Principal Analyst, BIS Research, “The water electrolysis market is expected to register continuous growth over the forecast period owing to the growing demand for sustainable energy sources, growing demand for green hydrogen and green ammonia and government investments in green and sustainable technologies.Additionally, growing investment in renewable energy sources and demand for energy storage technologies are also expected to contribute to the growth of the electrolysis market. water during the forecast period.”
See the report in the global water electrolysis market
Key Companies Operating in the Market and Competitive Landscape
The companies featured in the study have been selected based on input collected from leading experts and analysis of companies’ product portfolios, key developments and market penetration.
Some important established names in this market are:
Business Type 1: Electrolyser Suppliers
- Nel ASA
- Cummins inc.
- Power socket inc.
- ITM power controller
- Asahi Kasei
Companies that are not part of the aforementioned group have been well represented in the various sections of the report (where applicable).
Who should buy this report?
Companies that offer water chlorinators, water chlorinators parts such as catalysts, membranes, power supply equipment can purchase the report. In addition, end users from industries such as ammonia production and fuel cells can also purchase the report.
Key questions answered by the report:
- What are the major drivers and trends impacting the water electrolysis market?
- What impact has COVID-19 had on the water electrolysis market across the globe?
- What are the measures taken by existing players to improve their positioning in the market and the strategy adopted by new players entering the market?
- What are the major electrolyzer types and end-use applications in the market, and how will they perform during the forecast period?
- What are the latest developments in various countries of the world for the development of water electrolysis market?
- What are the water chlorinator installation diagrams?
- What are the main challenges in adopting water electrolysis in different regions and countries?
- Are there any government regulations (regional/global) impacting the water electrolysis market?
- For a new company looking to enter the water electrolysis market, what areas could it focus on to stay ahead of the competition?
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm that focuses on deep technologies and related emerging trends that are likely to disrupt market dynamics in the near future. We publish over 200 market intelligence studies annually that focus on multiple deep technology verticals.
Our strategic market analysis emphasizes market estimates, technology analysis, high growth emerging applications, deeply segmented country-level granular market data, and other significant market parameters helpful in making strategic decision making for senior management.
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