Water Electrolysis Machine Market Current Scenario Trends, Comprehensive Analysis and Regional Forecast to 2030
The market for water electrolysis machines is anticipated to surge ahead at a CAGR of 7.7% over the forecast period of 2022 to 2030. The global water electrolysis machine market has been impacted marginally by the coronavirus pandemic. Innovations in crude oil processing applications will support developments in the market.
Despite the steady rise of the water electrolysis machine
market, prohibitive capital costs and high levels of electricity consumption
restrain market growth.
The growth of the water electrolysis machine market is
expected to be marginally slower that previous years owing to the ongoing
coronavirus pandemic. Restrictions on transportation, logistics, and trade have
disrupted supply chains for raw materials and components essential for the
functioning o the water electrolysis machines.
Restrictions on non-essential commodities also hurt market
growth. The market is likely to start recovery towards the end of 2020. The
focus on research activities and product development are likely to aid market
players in leveraging growth opportunities in the post pandemic era.
Key Takeaways from Water Electrolysis Machine Market
- The
size of the water electrolysis machines market is estimated to surpass US$
10.2 Bn by the end of 2020, with renewable energy and chemical
applications being the driving factors behind the industry.
- Alkaline
water electrolysis machines will witness high demand, while PEM options
are also likely to reflect steady growth on the back of higher efficacy in
electrolysis processes.
- 500
to 2000 L/Hr offerings in the water electrolysis machines market reflect
relatively higher demand, owing to reduced risk of hydrogen crossovers.
- East
Asia is a prominent regional market reflecting relatively faster growth in
adoption rates owing to major scope for industrial applications in China
and Japan.
“Higher investments and favorable policies by government
towards the development of sustainable, renewable energy sources, and the use
of hydrogen in steel, chemicals, electronics & semiconductors, petroleum,
electronics, pharmaceuticals, and power generation, are major factors driving
the growth of the global water electrolysis machine market,” said a lead
analyst from FMI.
Who is Winning?
The market study by Future Market Insights has provided
in-depth details on major business strategies that play influencing roles in
the water electrolysis machine market. Major players in the industry have been
focused on strategic acquisitions and collaborations, in addition to the
consolidation of market presence through product development endeavors.
Air Products & Chemicals Inc., Toshiba Energy Systems
& Solutions Corp., Nel ASA, Thyssenkrupp Uhde Chlorine Engineers GmbH,
AREVA H2Gen, Teledyne Technologies Inc., Asahi Kasei Corp., Kobelco
Eco-Solutions Co. Ltd., C&E Environmental Technology Co. Ltd. are major
companies operating in the water electrolysis machine market.
Access Full Report: https://www.futuremarketinsights.com/reports/water-electrolysis-machine-market
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