The latest market report published by Credence Research, Inc. is “Global Alkaline Water Electrolysis Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Alkaline Water Electrolysis Market generated revenue of around USD 105.5 million in 2021 and is anticipated to grow a CAGR of over 6.1% during the forecast period from 2022 to 2028 to reach around USD 150.5 million in 2028.
The process of converting water into hydrogen and oxygen is known as alkaline water electrolysis. The method is widely used to produce hydrogen, which is used in various industries, including chemicals, glass, petroleum, refineries, automobiles, metals & mining, pharmaceuticals, and others. The key market is expected to grow rapidly due to rising demand for carbon-free energy sources and an efficient method of integrating renewables via a power-to-gas facility. The use of green hydrogen as a fuel and a carbon dioxide-free feedstock for the photovoltaic, electronics, and green chemical industries is expanding globally. This has increased demand for facilities that can produce green hydrogen through alkaline water electrolysis. Alkaline water electrolysis is emerging as a critical technology for constructing a carbon-free, flexible, and long-term energy system. Increased government regulations for greenhouse gas emissions drive global market growth. Growing consumer awareness of the health advantages of drinking alkaline water is a further driver of market expansion. Although alkaline water electrolysis is commonly used to generate green hydrogen, it faces additional challenges owing to its high cost.
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The global alkaline water electrolysis market is bifurcated into Type, Application, and Geography. Based on the type, the global market is categorized into
Europe dominated the global alkaline water electrolysis market in 2021, owing to rising demand for the alkaline water electrolysis process in various industrial applications such as glass purification, automobiles, petrochemicals, and refining. Germany has the largest market share in the region and serves as a hub for fertilizers, petrochemicals, refining, and glass purification industrial processes.
Why to Buy This Report –
- The report examines the global alkaline water electrolysis market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
- The report includes information on the competitive landscape, such as how the market’s key players perform on a global, regional, and country level.
In-depth analysis of the global alkaline water electrolysis market segmentation by type and application.
- The report includes detailed and reliable data for all factors, including CAGR, consumers purchase trends, supply and demand, and import-export statistical data.
- The alkaline water electrolysis industry report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
The Global Alkaline Water Electrolysis Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|By Type (2016–2028; US$ Mn)|
|By Application (2016–2028; US$ Mn)|
|By Geography Segment (2016–2028; US$ Mn)|