Water Electrolysis Market A Strong 6.1% CAGR Propelling Industry to USD 9.43 Billion by 2029

The Global Water Electrolysis Market, which was valued at USD 6.23 billion in 2022, is expected to grow at a 6.1% CAGR to nearly USD 9.43 billion by 2029. Water electrolysis, a key method for producing green hydrogen, provides a long-term solution to future energy needs and decarbonization. This process uses electricity to split water into hydrogen and oxygen, which is aided by electrolyzers. Electrolysis stands out as a promising avenue for carbon-free hydrogen production, ranging from small-scale distributed production to large-scale facilities. Notably, hydrogen produced in this manner can help to achieve the Hydrogen Energy Earthshot goal of reducing costs by 80% to $1 per kilogram within a decade.

Water Electrolysis Market Report Scope and Research Methodology

MMR published a Water Electrolysis Market report to help clients understand future product demand by providing valuable insights into the global Water Electrolysis industry. The report synopsis provides detailed information on market size, growth factors, statistics, key players, and a comprehensive regional and national market scenario.

The Water Electrolysis market report provides in-depth information on sales, revenue, product types, applications, and key players. It makes use of primary and secondary research, segmentation, and various forecasting methods. PESTEL analysis examines micro and macroeconomic factors, whereas SVOR analysis estimates new opportunities, strengths, and risks. The Porter Five Forces model examines key players and market competition.

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Water Electrolysis Market Regional Insights

The report compares market size, Water Electrolysis growth rate, and import-export across the following regions: North America, Europe, Asia Pacific, South America, the Middle East, and Africa.

Water Electrolysis Market Segmentation

Based on Technology Type: the Water Electrolysis Market has been divided into Alkaline Electrolysis, PEM (Proton Exchange Membrane) Electrolysis, Solid Oxide Electrolysis, and Anion Exchange Membrane (AEM) Electrolyzers. Among these, the Alkaline Electrolysis sub-segment is projected to generate the maximum revenue of water electrolyser market through the forecast period. The most frequently used method of electrolysis is the alkaline electrolysis, which is a type of water electrolysis that uses an alkaline electrolyte, typically potassium hydroxide (KOH) or sodium hydroxide (NaOH). Alkaline electrolysis is a well-established technology and has been used for many years for the production of hydrogen. It is known for its relatively low cost and high efficiency, and it is the most common method for large-scale hydrogen production.

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by Technology Type

Alkaline Electrolysis
PEM (Proton Exchange Membrane) Electrolysis
Solid Oxide Electrolysis
Anion Exchange Membrane (AEM) Electrolyzers

by End User

Chemicals
Electronics & Semiconductor
Power Plants
Petroleum
Pharmaceuticals

Water Electrolysis Market Key Players

1. Sanofi
2. Pfizer
3. Otsuka Pharmaceutical Co., Ltd.
4. Novartis AG
5. Merck & Co., Inc.
6. Gilead Sciences, Inc.
7. Amgen Inc.
8. Eli Lilly and Company
9. GlaxoSmithKline
10. Axus Cardium Pharmaceuticals
11. LegoChem Biosciences
12. Lee’s Pharmaceutical Holdings
13. Milestone Pharmaceuticals
14. Juventas Therapeutics
15. ViroMed

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