市場調查報告書
商品編碼
1477379
水電解市場 - 全球產業規模、佔有率、趨勢、機會和預測,按類型、應用、地區和競爭細分,2019-2029FWater Electrolysis Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Application, By Region and Competition, 2019-2029F |
2023年全球水電解市場估值為44.2億美元,預計在預測期內將強勁成長,到2029年複合年成長率為4.31%。關鍵因素。電解在轉換和儲存剩餘再生能源方面發揮著至關重要的作用,特別是在再生能源滲透率較高的地區。透過利用再生能源的過剩電力透過電解生產氫氣,剩餘能源可以在發電、交通和工業流程等各個領域儲存和利用,從而增強電網的穩定性和靈活性。
市場概況 | |
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預測期 | 2025-2029 |
2023 年市場規模 | 44.2億美元 |
2029 年市場規模 | 56.3億美元 |
2024-2029 年複合年成長率 | 4.31% |
成長最快的細分市場 | 鹼性電解槽 |
最大的市場 | 歐洲 |
人們對脫碳和向低碳能源系統轉型的日益關注正在推動對透過水電解產生的綠氫的需求。使用再生電力生產的綠氫為蒸汽甲烷重整等傳統方法提供了碳中和的替代方案。隨著全球政府和產業制定雄心勃勃的碳減排目標並應對氣候變化,對綠色氫的需求預計將不斷增加,從而推動全球水電解市場的擴張。
電解槽技術的進步和再生能源成本的降低正在增強水電解系統的商業可行性。製造商正在投資研發,以提高電解技術的效率、可靠性和可擴展性,使其相對於傳統的基於化石燃料的製程更具競爭力。太陽能和風能等再生能源成本的下降正在降低電解制氫的整體成本,進一步刺激市場成長。
旨在推廣再生能源和氫技術的支持性政府政策和激勵措施也促進了全球水電解市場的成長。世界各國政府正在實施補貼、稅收優惠和監管框架等各種措施,以促進電解系統和綠氫基礎設施的開發和部署。這些政策正在促進對電解計畫的投資,並鼓勵政府、產業和研究機構之間的合作,以加速水電解技術的採用。
電力業的成長
科技進步的激增
再生能源的可用性
越來越關注綠氫
類型洞察
應用洞察
區域洞察
Global Water Electrolysis Market was valued at USD 4.42 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.31% through 2029. The increasing utilization of renewable energy sources like wind and solar power is a key factor propelling the global water electrolysis market. Electrolysis plays a vital role in converting and storing surplus renewable energy, especially in regions with high renewable energy penetration. By leveraging excess electricity from renewable sources for hydrogen production through electrolysis, surplus energy can be stored and utilized across various sectors such as power generation, transportation, and industrial processes, thereby enhancing grid stability and flexibility.
Market Overview | |
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Forecast Period | 2025-2029 |
Market Size 2023 | USD 4.42 Billion |
Market Size 2029 | USD 5.63 Billion |
CAGR 2024-2029 | 4.31% |
Fastest Growing Segment | Alkaline Electrolyzer |
Largest Market | Europe |
The growing focus on decarbonization and the transition to low-carbon energy systems is fueling demand for green hydrogen generated via water electrolysis. Green hydrogen, produced using renewable electricity, offers a carbon-neutral alternative to conventional methods like steam methane reforming. With governments and industries globally setting ambitious carbon reduction goals and addressing climate change, the demand for green hydrogen is anticipated to escalate, driving the expansion of the global water electrolysis market.
Advancements in electrolyzer technologies and the decreasing costs of renewable energy are bolstering the commercial feasibility of water electrolysis systems. Manufacturers are investing in research and development to enhance the efficiency, reliability, and scalability of electrolysis technologies, making them more competitive against traditional fossil fuel-based processes. The declining costs of renewable energy sources such as solar and wind power are lowering the overall hydrogen production costs through electrolysis, further stimulating market growth.
Supportive government policies and incentives aimed at promoting renewable energy and hydrogen technologies are also contributing to the growth of the global water electrolysis market. Governments worldwide are implementing various measures like subsidies, tax incentives, and regulatory frameworks to facilitate the development and deployment of electrolysis systems and green hydrogen infrastructure. These policies are fostering investments in electrolysis projects and encouraging collaboration among governments, industries, and research institutions to expedite the adoption of water electrolysis technology.
Key Market Drivers
Growth in Power Industry
The rapid expansion of renewable energy sources like wind and solar power stands as a primary catalyst propelling the global water electrolysis market forward. With nations worldwide committing to ambitious targets for reducing greenhouse gas emissions and addressing climate change, the deployment of renewable energy technologies has surged. Wind and solar power, in particular, have experienced exponential growth, fueled by declining costs, technological advancements, and supportive governmental policies.
Water electrolysis plays a pivotal role in facilitating the integration of renewable energy into the power grid. Electrolyzers can harness surplus electricity generated by wind and solar farms during periods of low demand to produce hydrogen via electrolysis. This green hydrogen can then be stored and utilized as a clean energy carrier for diverse applications, spanning power generation, transportation, and industrial processes. As the proportion of renewable energy in the energy mix continues to rise, the demand for water electrolysis systems to yield green hydrogen is poised to skyrocket, propelling market expansion.
The burgeoning power sector is fueling investments in electrolysis projects and infrastructure development. Power firms are increasingly investing in electrolysis facilities and hydrogen production plants to leverage surplus renewable energy and facilitate grid stabilization. Partnerships between power entities, electrolyzer manufacturers, and research institutions are fostering innovation in electrolysis technologies, driving the creation of more efficient and economically viable electrolysis systems.
The transition toward decarbonizing the power sector is generating fresh avenues for water electrolysis. As power entities aim to shrink their carbon footprint and adhere to stringent environmental regulations, hydrogen generated through electrolysis emerges as a clean and sustainable substitute for traditional fossil fuel-based power generation. The escalating adoption of hydrogen as a power generation fuel, coupled with advancements in electrolysis technologies, is steering the expansion of the global water electrolysis market.
Surge in Technological Advancements
Technological progress has spurred the emergence of advanced electrolysis technologies like proton exchange membrane (PEM) electrolysis and solid oxide electrolysis cells (SOECs). These innovations boast heightened energy efficiency, swifter response times, and enhanced durability compared to conventional alkaline electrolysis methods, rendering them more appealing for commercial use. PEM electrolysis is gaining momentum due to its capability to operate at elevated current densities and lower temperatures, resulting in diminished energy consumption and augmented rates of hydrogen production.
Innovations in materials science and engineering have yielded more resilient and enduring electrolysis components, encompassing catalysts, membranes, and electrodes. These breakthroughs have elongated the lifespan of electrolysis systems, reducing maintenance expenses and downtime while enhancing overall system dependability. Enhanced durability is indispensable for commercial electrolysis applications, where uninterrupted operation and minimal upkeep are imperative.
Technological advancements have facilitated the integration of water electrolysis systems with renewable energy sources like solar and wind power. These systems can now dynamically adapt their operations to match the fluctuating output of renewable energy sources, optimizing energy utilization and bolstering grid stability. The fusion of water electrolysis with renewable energy sources enables the generation of "green hydrogen," characterized by minimal carbon footprint, which can aid in decarbonizing diverse sectors such as transportation, industry, and power generation.
Key Market Challenges
Availability of Renewable Energy
One of the primary hurdles related to utilizing renewable energy for water electrolysis lies in the intermittent nature of renewable energy sources such as solar and wind power. Unlike conventional power sources like coal or natural gas, which offer a consistent and dependable electricity supply, renewable energy sources are subject to external factors like weather conditions and time of day. This intermittency can result in fluctuations in power generation, posing challenges in maintaining steady electrolysis operations and hydrogen production.
Another challenge stems from the disparity between the availability of renewable energy and the demand for hydrogen. In numerous regions, renewable energy generation may surpass demand at certain times, leading to energy curtailment or wastage. There may be instances where renewable energy supply falls short of meeting demand, thereby limiting the availability of clean electricity for water electrolysis. Achieving a balance between renewable energy supply and hydrogen demand to optimize the utilization of electrolysis systems presents a logistical and technical obstacle for stakeholders across the hydrogen value chain.
The integration of renewable energy sources into existing electrical grids and infrastructure introduces further complexities for the water electrolysis market. Grid integration necessitates the implementation of smart grid technologies, energy storage solutions, and grid stabilization mechanisms to manage fluctuations in renewable energy output and ensure grid reliability. The availability of infrastructure for transporting renewable energy from generation sites to electrolysis facilities may be constrained, particularly in remote or underserved areas.
Key Market Trends
Growing Focus on Green Hydrogen
The electrolyzer technology market is experiencing rapid evolution, characterized by efforts to boost efficiency, trim costs, and enhance scalability. Innovative designs like proton exchange membrane (PEM) and alkaline electrolyzers are gaining traction, particularly for their capacity to operate effectively alongside renewable energy sources.
The increasing emphasis on green hydrogen as a sustainable energy carrier is poised to drive substantial growth in the global water electrolysis market in the foreseeable future. Critical factors such as technological breakthroughs, supportive governmental policies, market incentives, and collaborative ventures are set to fuel market expansion, accelerating the shift towards a hydrogen-centric economy.
The amalgamation of electrolysis with renewable energy sources, coupled with advancements in hydrogen storage and distribution infrastructure, will bolster the feasibility and competitiveness of green hydrogen as a clean energy alternative. As the world endeavors to meet ambitious climate targets and transition to a low-carbon trajectory, the significance of green hydrogen and water electrolysis in facilitating decarbonization and fostering energy sustainability will become increasingly indispensable.
Segmental Insights
Type Insights
Based on the category of type, the alkaline electrolyzer emerged as the fastest growing segment in the global market for water electrolysis in 2023. For numerous years, alkaline electrolyzers have been actively utilized in commercial settings, boasting a longstanding presence as a tried-and-tested technology. Renowned for their reliability, durability, and scalability, they stand out as a favored option across diverse applications such as industrial hydrogen generation, energy storage solutions, and power-to-gas initiatives.
Operating at elevated efficiencies, alkaline electrolyzers excel in converting electrical energy into hydrogen while minimizing energy losses. This heightened efficiency is instrumental in optimizing the utilization of renewable energy sources and facilitating cost-efficient hydrogen production, rendering alkaline electrolyzers particularly appealing for the generation of green hydrogen.
Application Insights
The power and energy storage segment is projected to experience rapid growth during the forecast period. Water electrolysis is instrumental in the integration of renewable energy by transforming surplus electricity from sources like wind and solar power into hydrogen through electrolysis. This process, referred to as Power-to-Gas (P2G) or Power-to-Hydrogen (P2H), facilitates the storage of renewable energy as hydrogen for later use in power generation, transportation fuel, or industrial applications. By leveraging water electrolysis, power and energy storage applications enable efficient utilization and storage of renewable energy, addressing challenges related to intermittency and variability in renewable power generation.
In power and energy storage applications, water electrolysis aids in grid balancing and peak shaving by absorbing excess electricity during periods of low demand or high renewable energy generation, and releasing it during periods of high demand or low renewable energy availability. Integrating electrolyzers into the electricity grid infrastructure allows for grid-scale energy storage, supporting grid stability and mitigating issues such as grid congestion, voltage fluctuations, and frequency regulation.
Regional Insights
Europe emerged as the dominant player in the Global Water Electrolysis Market in 2023, holding the largest market share in terms of value. European nations have taken proactive steps to promote renewable energy and advance decarbonization agendas through favorable government policies and incentives. Key initiatives like the European Green Deal, national hydrogen strategies, and carbon neutrality targets have spurred investments in clean hydrogen technologies, particularly water electrolysis.
The integration of renewable energy sources such as wind and solar power into Europe's energy portfolio has been notably successful. This has resulted in ample availability of renewable energy resources for utilization in water electrolysis, rendering it an appealing option for hydrogen generation.
Europe benefits from a robust research and innovation landscape focused on clean energy technologies, including electrolysis. Research institutions, universities, and technology firms in Europe lead the charge in developing cutting-edge electrolysis technologies, materials, and manufacturing processes. Their efforts drive innovation and enhance global competitiveness in the market.
Asahi Kasei Corporation
Nel ASA
thyssenkrupp AG
Cummins Inc.
Toshiba Energy Systems & Solutions Corporation
Teledyne Technologies Incorporated
Suzhou Green Hydrogen Energy Co., Ltd.
ITM Power PLC
Clean Power Hydrogen plc
Plug Power Inc.
In this report, the Global Water Electrolysis Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
United States
Canada
Mexico
France
United Kingdom
Italy
Germany
Spain
China
India
Japan
Australia
South Korea
Brazil
Argentina
Colombia
South Africa
Saudi Arabia
UAE
Company Profiles: Detailed analysis of the major companies present in the Global Water Electrolysis Market.
Global Water Electrolysis Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (up to five).