QY Research has come up with a new report on the global water electrolysis market. The global water electrolysis market was valued at US$ 207 million in 2019 and will reach US$ 310 million by the end of 2026, growing at a CAGR of 5.94% during 2019-2026. This market research company has considered 2019 as a base year to estimate the market size of water electrolysis.
Global Water Electrolysis Market- Key Players
Proton On-Site, 718th Research Institute of CSIC, Teledyne Energy Systems, Hydrogenics, Nel Hydrogen, Suzhou Jingli, Beijing Zhongdian, McPhy, Siemens, TianJin Mainland, Areva H2gen, Shandong Saksay Hydrogen Energy, Yangzhou Chungdean Hydrogen Equipment, Asahi Kasei, Idroenergy Spa, Erredue SpA, ShaanXi HuaQin, Kobelco Eco-Solutions, ELB Elektrolysetechnik GmbH, ITM Power, Toshiba, are some of the key players, functioning in the global water electrolysis market. Proton On-Site is the largest producer of water electrolysis with 17.76% sales share in 2019.
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.
Global Water Electrolysis Market: Driver Analysis
Water electrolysis has been used industrially to produce hydrogen for more than a century. Once the favoured method for hydrogen production, it was subsequently largely displaced by lower-cost methods, such as steam reforming of natural gas, and today only 4% of hydrogen is produced this way. Interest in water electrolysis has increased again recently, influenced by its potential to provide hydrogen with a very low associated carbon footprint as well as for electrolysers to provide services, such as load response management, to changing electricity grids.
Electrolyser technology priorities are specific to the different chemistries under development. They respond to the need to reduce cost while maintaining or improving performance and include work on advanced catalysts and membranes as well as system engineering.
Global Water Electrolysis Market: Segmental and Application Analysis
On the basis of product type, the global Water Electrolysis market is segmented into traditional alkaline electroliser, PEM electroliser. Traditional alkaline electroliser still owns the major market share for the time being while PEM electroliser expands fast. In the next few years, it is estimated that PEM electroliser will replace traditional alkaline electroliser gradually.
Water electrolysis is used in many fields, such as Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, Energy Storage or Fueling for FCEV's, Power to Gas, etc. Energy Storage or Fueling for FCEV's holds the major consumption share of in 2019, with 21.74%.
Global Water Electrolysis Market: Regional Analysis
In the report, Europe, Asia Pacific, North America, South America, Middle East and Africa will be analyzed. Asia Pacific is the largest market, followed by Europe.
Read More Information: https://www.qyresearch.com/index/detail/1598907/global-water-electrolysis-market
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