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Alkaline Water Electrolysis Market By Type (<10 m3/h, <30 m3/h, <50 m3/h, <80 m3/h, ≥80 m3/h) By Application (Power Plants, Steel Plants, Electronics & Photovoltaics, Industrial Gases, Others) - Growth, Future Prospects & Competitive Analysis, 2016 - 2028

About this report

The global alkaline water electrolysis market report explores the critical analysis of the industry using key parameters. The report consists of investment strategies, the need for investments in the alkaline water electrolysis industry, and the multiple benefits for investors. Importantly, this report sets out major changes in the global technical regulations for the alkaline water electrolysis industry and how economic and non-economic barriers are helping the market grow. Moreover, the report analyses the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses include Porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

REPORT ATTRIBUTE DETAILS

Alkaline Water Electrolysis Market by Volume

Yes

Alkaline Water Electrolysis Market by Value

Yes

Alkaline Water Electrolysis Market, Tornado Analysis

Yes

Alkaline Water Electrolysis Market, STAR Analysis

Yes

Alkaline Water Electrolysis Market, SRC Analysis

Yes

Alkaline Water Electrolysis Market, Import-Export Data

Yes (On Demand)

Alkaline Water Electrolysis Market Pricing Analysis

Yes (On Demand)

Alkaline Water Electrolysis Market Segment Analysis

By Type (<10 m3/h, <30 m3/h, <50 m3/h, <80 m3/h, and ≥80 m3/h)

By Application (Power Plants, Steel Plants, Electronics & Photovoltaics, Industrial Gases, and Others)

Alkaline Water Electrolysis Market, Regional Analysis

North America (the US and Canada)

Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, South East Asia, and the Rest of Asia Pacific)

atin America (Brazil, Mexico, and the Rest of Latin America)

Middle East and Africa (GCC Countries, South Africa, and the Rest of Middle East and Africa)

Alkaline Water Electrolysis Market Key Companies

ShaanXi HuaQin (China), Asahi Kasei (Japan), Nel Hydrogen (Norway), Teledyne Energy Systems Inc (United States), Thyssenkrupp (Germany), Suzhou Jingli (China), McPhy (France), Hydrogenics (Canada), TianJin Mainland Hydrogen Equipment Co Ltd (China), Green Hydrogen Systems (Denmark), MVS Engineering Pvt Ltd (India), Yangzhou Chungdean Hydrogen Equipment Co Ltd (China), 718th Research Institute of CSIC (China), and Next Hydrogen Corp (Canada)

Alkaline Water Electrolysis Market Competitive Landscape

Market Share Analysis

Competitive Benchmarking

Key Players Market Positioning

Geographical Presence Analysis

Major Strategies Adopted

 

Key Highlights of the report

How are the major segments performing in the Alkaline Water Electrolysis Market?

  • In 2021, the ≥80 m3/h type segment held the largest global market share owing to the large-scale industrial systems widely using these types of equipment. The ≥80 m3/h electrolysis capacity technology is less expensive to develop initially and has a longer lifespan as it uses less expensive nickel-based catalysts. These devices operate at high membrane pressure differentials. The electrolysis plants with capacities of 10 m3/h, 30 m3/h, and 50 m3/h are primarily used for small-scale hydrogen production.
  • The power plants segment led the market in terms of application in 2021 and is expected to continue over the projection period due to increased oxygen and hydrogen production over several power plants globally. Electrolysis is primarily used to generate hydrogen and oxygen. They are frequently used in the power plant generation sector to reduce emissions of greenhouse gases and many other pollutants.

Which region dominated the alkaline water electrolysis market?

Europe dominated the global alkaline water electrolysis market in 2021 and is expected to maintain its dominance throughout the forecast period. Investments in developing and manufacturing hydrogen fuel cells and favorable environmental protection and energy security policies are expected to drive demand for alkaline water electrolysis machines in the upcoming years. Hydrogen accounts for less than 2% of the energy used in Europe today, and it is primarily used to make chemical products like plastics and fertilizers. Natural gas accounts for 96% of this hydrogen, resulting in significant CO2 emissions. The European Union adopted a green hydrogen strategy in 2020. According to the European Green Deal, the plan looked at how generating and using renewable hydrogen can help the European economy become more carbon-neutral while fostering post-COVID-19 economic growth.

How is US Market Performing in the alkaline water electrolysis market?

The market for alkaline water electrolysis in the United States is expected to expand significantly during the forecast period. The United States is a global leader in hydrogen production via water electrolysis. In North America, hydrogen and fuel cells provide energy security and a cleaner environment for the people. The United States has maintained and developed specific standards and codes to ensure the safety and environmental friendliness of hydrogen and fuel cell products. Hydrogen-powered forklifts and buses are just two hydrogen-related innovations used in retail stores. The US market for water electrolysis is anticipated to grow during the forecast period due to the country's increased use of hydrogen.

What is the competitive environment of the alkaline water electrolysis market?

The existence of major companies competing for dominance and expanding their product portfolio has fragmented the global market. These companies are concentrating on expanding their facilities to ensure smooth alkaline water electrolysis processes to meet the rising demand for green hydrogen from various end-user industries. Other significant players are implementing proactive strategies, such as alliances, teamwork, and mergers and acquisitions, which will likely support the market's expansion during the predicted period. Cummins introduced its latest generator, the Made in India - QSK60 G23: 2500-2750 kVADiesel Generator (DG), in August 2021. This new stationary generator is intended for continuous, peak, and standby loads. Moreover, Cummins Inc established a new facility in Germany in November 2020 to develop hydrogen fuel cell systems. The facility will be operational by July 2021 and will generate approximately 10 megawatts annually.

Executive Summary

What are all the technical developments in the alkaline water electrolysis market?

Alkaline water electrolysis (AWE) is the most technologically advanced and cost-effective method. The power consumption of alkaline water electrolyzers is slightly higher. Nonetheless, the levels attained in terms of durability, dependability, and security are excellent. Alkaline water electrolysis technologies are currently attracting more and more attention. AWE is a proven and secure technology currently used in numerous industrial applications. The capacity to scale up to production capacities in the megawatt range is one of the main benefits of using AWE over other technologies. This technology is the most advanced (has the highest manufacturing readiness) and is currently produced in the greatest quantities using numerous 100+ MW operations installed over decades. Leading market participants in the sector primarily invest their resources in creating new water electrolysis technology offerings and in strategic alliances and acquisitions to increase their market share. For instance, Asahi Kasei Corporation and Toshiba Energy Systems & Solutions Corporation launched a project for hydrogen supply in Namie Futuba, Fukushima, in April 2020, with a massive energy scale of 10 MW. The business has also worked on projects to develop hydrogen technology with Tohoku Electric Power Co Inc and Iwatani Corporation.

Which are the key investments by the alkaline water electrolysis market players?

Growing investments in research and development by industry players to create novel products is a key factor driving the alkaline water electrolysis market. Key players concentrate on funding alkaline water electrolysis projects to combat market growth. For instance, Thyssenkrupp Nucera and Shell agreed to a deal on January 10th, 2022, for Thyssenkrupp Nucera to supply the massive Hydrogen Holland project in the port of Rotterdam, Netherlands. By the terms of the agreement, the company will acquire, design, and build a 200 MW electrolysis plant using a 20 MW alkaline water electrolysis module currently being used extensively. The initial construction of the electrolyzers is expected to begin in 2022.

Some major players in the alkaline water electrolysis market are ShaanXi HuaQin (China), Asahi Kasei (Japan), Nel Hydrogen (Norway), Teledyne Energy Systems Inc (United States), Thyssenkrupp (Germany), Suzhou Jingli (China), McPhy (France), Hydrogenics (Canada), TianJin Mainland Hydrogen Equipment Co Ltd (China), Green Hydrogen Systems (Denmark), MVS Engineering Pvt Ltd (India), Yangzhou Chungdean Hydrogen Equipment Co Ltd (China), 718th Research Institute of CSIC (China), and Next Hydrogen Corp (Canada).

What are the Major Driving Factors for the Alkaline Water Electrolysis Market?

The development of the infrastructure for hydrogen and a rise in its use as a feedstock for the industry are encouraged by favorable regulatory policies, which will spur industry expansion. The continued advancement of technology and the decline in carbon emissions from manufactured goods will favor the outlook for the business. The application of technological advancements by the major market players and the market structure based on current trends are also included in the global alkaline water electrolysis market. Several factors are driving market growth, including rising global carbon emissions, increased production of low-carbon hydrogen, increased ammonia, growing preference for margarine, rising production of menthol capacity, and growing adoption for semiconductors.

What are the Major Risks for the Alkaline Water Electrolysis Market?

Green hydrogen is frequently created using alkaline water electrolysis. However, this method has more difficulties owing to its high cost. The cost of green hydrogen from the plant is two to three times higher than that of grey hydrogen. Electric cars with fuel cells and hydrogen tanks cost at least 1.5 to 2 times as much as cars powered by fossil fuels, according to the 2019 International Renewable Energy Agency (IRENA) Green Hydrogen Economy Report. However, important players like ThyssenKrupp AG are creating prefabricated skid-mounted modules for alkaline water electrolysis plants, which helps keep costs down. As a result of the units' portability and ability to be combined to create megawatt- or gigawatt-scale projects, the market is anticipated to grow significantly over the forecast period.

Which is the key application in the Alkaline Water Electrolysis market?

The power plants segment is anticipated to grow the fastest during the forecast period. In power plants, alkaline water electrolysis generates hydrogen and oxygen from water. The turbines then use hydrogen gas to produce electricity. The gaseous oxygen is released into the atmosphere. This procedure increases the effectiveness of the plant while lowering greenhouse gas emissions. At a wind farm, electric energy and hydrogen fuel can be combined to match resource efficiency, convert extra energy into hydrogen, and cut greenhouse gas emissions. These elements will fuel the market for alkaline water electrolysis in the upcoming years. For instance, ThyssenKrupp AG and De Nora increased their manufacturing capabilities for water electrolysis plants in June 2020. As a result, they can now produce electrolysis cells with an annual power consumption of one gigaton.

alkaline-water-electrolysis-market

How is the alkaline water electrolysis market performing in regions?

The Europe alkaline water electrolysis market is expected to grow rapidly during the forecast period. The growing popularity of green fertilizers due to increased demand for sustainable farming practices and the rising demand for renewable energy are key factors driving market revenue growth. The European Clean Hydrogen Alliance, which unites businesses, state, federal, and local governments, society organizations, and other stakeholders, was launched in 2020 as part of the EU's new industrial regulation. By 2025, the European Clean Hydrogen Alliance's Electrolyser Partnership will have brought together suppliers of materials and components as well as manufacturers of electrolyzers to achieve a combined annual manufacturing capacity of 17.5 GW in Europe. This is expected to accelerate revenue growth in this region's market.

Moreover, the North American market is anticipated to hold the largest revenue share in the global alkaline water electrolysis market during the forecast period. This can be attributed to factors like the substantial demand for eco-friendly hydrogen from the automotive industry, which will encourage the adoption of cutting-edge alkaline water electrolysis processes in the region over the forecast period. In addition, many regional countries, such as the United States and Canada, have implemented zero-emissions regulatory regulations in the electricity, heating, and transportation sectors.

What is the regulatory landscape for the alkaline water electrolysis market?

A flexible and sustainable energy system is being ensured by adopting green hydrogen circular economies in several nations. The Western Australian (WA) government gave the Environmental Protection Authority (EPA) permission to build the first phase of the 15 GW Asian Renewable Energy Hub (AREH), a hybrid solar and wind plant, on October 20, 2020. Due to rising emission levels, governmental organizations have been compelled to adopt sustainable energy practices. As a result, green hydrogen is becoming a more important form of energy. During the forecast period, these factors are anticipated to support the global alkaline water electrolysis market expansion.

What is the Market Size of the alkaline water electrolysis value?

The global alkaline water electrolysis market is anticipated to grow at a substantial CAGR of 6.1% in the upcoming years. The global alkaline water electrolysis industry is estimated to be worth USD 105.5 million in 2021 and is expected to be worth USD 150.5 million by 2028.

What are the major players planning for the future of the alkaline water electrolysis market?

The rising demand for green hydrogen and stringent government regulations will drive the product's demand in the coming years. Future development of alkaline water electrolysis systems has the potential to benefit from experience in other related industrial processes, such as Chlor-alkali, which are currently deployed at a multi-GW scale annually. The most popular method for producing hydrogen from water electrolysis is alkaline water electrolysis. The electrolysis plant constructed in Norway to produce heavy water and deuterium was one of the first large-scale projects. Alkaline water electrolyzers are currently produced by numerous businesses all over the world. There are currently plans for many nations to join the green hydrogen economy. The sustainable energy ecosystem will greatly benefit future market expansion for water electrolysis. For instance, on April 4, 2022, Cummins Inc signed a supply agreement for a 2.5-megawatt (MW) electrolyzer with Hysetco through its subsidiary Hydrogenics Europe N.V. The local hydrogen generation made possible by the electrolyzer in Paris, France, will be the source of power for this project by Hysetco, which aims to construct and manage the first large-scale hydrogen mobility platform that integrates hydrogen delivery, production, and consumption.

Segmentation of Global Alkaline Water Electrolysis Market -

Global Alkaline Water Electrolysis Market – By Type

  • <10 m3/h
  • <30 m3/h
  • <50 m3/h
  • <80 m3/h
  • ≥80 m3/h

Global Alkaline Water Electrolysis Market – By Application

  • Power Plants
  • Steel Plants
  • Electronics & Photovoltaics
  • Industrial Gases
  • Others

Global Alkaline Water Electrolysis Market – By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global alkaline water electrolysis market

The alkaline water electrolysis market experienced stagnant growth due to supply chain disruption and stalled industrial operations due to the widespread impacts of COVID-19. In 2020, the market experienced a negative growth rate of -4.2%. However, favorable government policies and increasing investment opportunities in the sustainable energy industry will help the market growth over the forecast period.

Europe accounted for the most heightened share in the global alkaline water electrolysis market.

Rising private investments and beneficial government policies toward renewable and sustainable energy sources, as well as the use of hydrogen in steel, chemicals, petroleum, pharmaceuticals, electronics & semiconductors, and power generation, are major factors driving the global alkaline water electrolysis market growth.

The ≥80 m3/h segments had a major share in the global market in 2021.

The power plants segment had a major share in the global market.

Alkaline Water Electrolysis Market Scope

Report Attribute Details
Market Value in 2021 USD 105.5 million
Market Value in 2028 USD 150.5 million
CAGR 6.1%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Nov 2022
Category:  Chemicals
Report ID:   60795
Report Format:   PDF
Pages:   130
Rating:    4.6 (50)
Delivery Time: 24 Hours to 48 Hours   
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