This research report provides analysis and insights that are expected to be present through 2033, as well as their effects on market participants. The global water electrolysis machine market is expected to be worth US$ 25.5 billion by 2033.
The global demand for water electrolysis machines is expected to grow at a 7.3% annual rate between 2023 and 2033. According to FMI’s global water electrolysis systems market analysis report, the market will be worth US$ 12.6 billion in 2023.
Hydrogen from renewable energy sources can be produced by water electrolysis systems at minimal cost for use in different end-user industries and sectors. Moreover, research in the optimization of deconstructing oil-in-water emulsions in terms of metal pollutants and soluble solids is also driving the market further.
As international and national organizations are encouraging the development of hydrogen fuel, it is expected to positively impact demand in long term. Transitions toward sustainable and green technology increased regulatory emphasis on environmental protection and expanded government support in this sector.
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Conventionally, chemical industries, such as oil & petroleum, fertilizers, etc. are the prominent consumers or end users of water electrolysis devices. Growing investment in these sectors and research and development activities are all expected to drive the demand for water electrolysis machines in the chemical industry.
Key Takeaways from the Water Electrolysis Machine Market Study Report
- The United States caters to nearly one-fifth of the total revenue generated by the water electrolysis equipment market globally. In the previous year, 2022, the United States water electrolysis machine market reached an overall valuation of US$ 2,260 million.
- Japan is the second top-performing region in the production and supply of water electrolysis systems to industries around the globe. The market in Japan contributes to around 7.3% of the total revenue generated globally.
- Meanwhile, China and India are the two rapidly emerging countries in the manufacturing of industrial water electrolysis machines in the Asia Pacific. Over the next ten years, China and India are projected to register a CAGR of 9.2% and 8.7% respectively.
- In Europe, industrialized nations such as Germany and the United Kingdom are the forerunners in the sales of water electrolysis machines. Germany holds a share of 4.2% of the global water electrolysis machine market while the market in the United Kingdom market is progressing at 6.7%.
- Based on product type, the alkaline water electrolysis machines market segment dominates by acquiring 43.2% of the revenue.
Competitive Landscape
Siemens Gamesa, Thyssenkrupp Uhde Chlorine Engineers, Nel ASA, Asahi Kasei Corporation, Enagic International Inc., HyGear BV, Eneco Holdings Inc., Hydrogenics Corporation, ITM Power Plc, Peak Scientific, Teledyne Technologies Inc., and Toshiba Energy Systems & Solutions Corporation among others are some key players in the global water electrolysis machine market.
Emphasis on research and product development is anticipated to assist market participants in leveraging growth prospects beyond their regional boundaries. In addition, the market expansion is predicted to be fueled by the low costs of manufacturing to produce water electrolysis machines with advanced technologies.
Recent Developments
Cummins Inc. has agreed to purchase a 2.5 MW electrolyzer as part of a supply agreement with Hysetco in April 2022. It is Hysetco’s long-term plan to construct and run the first massive hydrogen mobility platform in the world that combines hydrogen generation, distribution, and consumption.
Thyssenkrupp Nucera and Shell have contracted for a massive Hydrogen Holland I project near Rotterdam in January 2022. This 200-megawatt electrolysis plant was designed, bought, and built as part of this transaction.
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Segments Covered
Water Electrolysis Machine Industry by Type:
- Proton Exchange Membranes
- Alkaline Water Electrolysis
- Others
Water Electrolysis Machine Industry by Input Power:
- Below 5 MW Water Electrolysis Machines
- 5 MW to 10 MW Water Electrolysis Machines
- Above 10 MW Water Electrolysis Machines
Water Electrolysis Machine Industry by Hydrogen Production Capacity:
- Below 500 L/Hr Capacity
- 500 L/Hr to 2000 L/Hr Capacity
- Above 2000 L/Hr Capacity
Water Electrolysis Machine Industry by End-use Industry:
- Water Electrolysis Machine for Chemical Industry
- Water Electrolysis Machine for Petroleum Industry
- Water Electrolysis Machine for Pharmaceuticals Industry
- Water Electrolysis Machine for Power Plants
- Water Electrolysis Machine for Electronics & Semiconductors Industry
- Water Electrolysis Machine for Steel Plants
- Water Electrolysis Machine for Others
Water Electrolysis Machine Industry by Regional Markets:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia & Pacific Market
- The Middle East & Africa (MEA) Market
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