Water Electrolysis Machine Market: Global Opportunity Analysis and Industry Forecast
Water electrolysis is a technique for the producing high purity hydrogen from water and renewable energy sources. It involves passage of electric current into the water further breaking the water into pure hydrogen and oxygen. The water electrolysis machines is categorized into three types that is alkaline electrolysis, proton exchange membrane (PEM) electrolysis, and solid oxide electrolysis. Water electrolysis machines are mostly used in coal, petroleum, and chemical industries.
COVID-19 Scenario Analysis
- The demand for the water electrolysis machine is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from chemical industries.
- COVID-19 pandemic has halted the production of various products in the water electrolysis machine industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of water electrolysis machine market significantly from last few months, as is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Top IMPACTING FACTORS: market Scenario Analysis, Trends , Drivers, and Impact Analysis
Increase in the chemical industries across different countries have increased the demand for the water electrolysis machine in this sector. An increase in demand for carbon-free source of energy is also driving the market of water electrolysis machine. Further, storing of chemical energy in the form of hydrogen energy would act as a growth driver for water electrolysis machine. In the past few years rising idea for storing of methane gas(as a form of energy) by converting the intermittent energy source through water electrolysis machine also acts as a growth driver for water electrolysis machine market. Countries from Asia-Pacific like India and China are the major producer for PEM fuel cells which is a type of water electrolysis machine. Asia-Pacific is expected to grow in upcoming years in the water electrolysis market. However, the high investment and high maintenance cost of water electrolysis machine majorly hampers the water electrolysis machine market. Further, the rise in chemical industries provide new pathways to water electrolysis machine market.
The global water electrolysis machine market trends are:
New Product Launches to Flourish the Market
The launch of new generation technologically advanced products can boost the growth of the market. In the past few years, many such products having unique features were launched in the market. In April 2020, a global leader in water electrolysis machine, Asahi Kasei started a world scale alkaline electrolysis system to generate pure hydrogen in Japan. It is able to produce pure hydrogen at a constant rate of 1200 Nm3 comprising of a single structure. This is an advanced technology alkaline water electrolysis machine, which is powerful and energy efficient.
High Demand from End Users
Now a days, manufacturers are producing new electrode coating methods using automation. Increase of water electrolysis machine for hydrogen production in chemical factories and petrochemical industries have increased the water electrolysis machines market. Alkaline water electrolysis, a type of water electrolysis machine that uses the renewable energy sources like sun, wind, and water by integrating energy into the distribution system for producing pure hydrogen that can be used by the end users. In remote areas where these renewable energy is abundantly available, water electrolysis machine can be installed to generate direct energy. Other applications include the usage of small volumes of hydrogen in the food and semiconductor industry. The use of pure hydrogen that is generated from water electrolysis method can be used in petroleum refining and ammonia production in petrochemical industries.
Key Benefits of the Report
- This study presents the analytical depiction of the water electrolysis machine market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the water electrolysis machine market share.
- The current market is quantitatively analyzed to highlight the water electrolysis machine market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Water Electrolysis Machine Market Report Highlights
By Industry Vertical
Key Market Players
Hydrogenics Corporation, AREVA H2Gen, Air Products and Chemicals, Inc., Linde AG, Peak Scientific, ProtonOnsite, Teledyne Energy Systems Inc., ThyssenKrupp AG, ErreDue s.p.a., Siemens AG