The Water Electrolysis Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Water Electrolysis Market?
The market size of the Water Electrolysis has seen significant growth in recent years. The size of the market is expected to increase from $7.81 billion in 2024 to $8.59 billion in 2025, with a compound annual growth rate (CAGR) of 10.0%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Water Electrolysis Industry?
The Water Electrolysis Global Market is predicted to reach a market size of $12.44 billion in 2029, growing at a compound annual growth rate (CAGR) of 9.7%.
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What are the Key Growth Drivers Fueling the Water Electrolysis Market?
The key drivers in the water electrolysis market are:
•The escalating demand for environmentally friendly hydrogen
•Supportive policies and subsidies from governments world-wide
•The expansion of renewable energy sources
•Investments in hydrogen infrastructure and decreasing costs of electrolyzers
Global Market Segmentation: Identifying Major Water Electrolysis Industry Segments
The water electrolysis market covered in this report is segmented –
1) By Product Type: Alkaline Electrolyzer, Proton Exchange Membrane (PEM) Electrolyzer, Solid Oxide Electrolyzer Cell (SOEC), Anion Exchange Membrane (AEM) Electrolyzer
2) By Input Power: Below 2 kW, 2 kW - 5 kW, Above 5 kW
3) By Hydrogen Production: Below 500 L/hr, 500 – 2000 L/hr, Above 2000 L/hr
4) By End-User Applications: Ammonia Production, Methanol Production, Refining Industry, Power and Energy Storage, Transportation Or Mobility Industry, Other End User Applications
Subsegments:
1) Alkaline Electrolyzer: Liquid Alkaline Electrolyzers, Pressurized Alkaline Electrolyzers, High-Temperature Alkaline Electrolyzers
2) Proton Exchange Membrane (PEM) Electrolyzer: Low-Temperature PEM Electrolyzers, High-Temperature PEM Electrolyzers, Compact PEM Electrolyzers
3) Solid Oxide Electrolyzer Cell (SOEC): Intermediate Temperature SOEC, High-Temperature SOEC, SOEC with Integrated Heat Recovery
4) Anion Exchange Membrane (AEM) Electrolyzer: AEM Electrolyzers for Water Splitting, High-Performance AEM Electrolyzers, AEM Electrolyzers with Improved Durability
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What are the emerging Trends Shaping the Future of the Water Electrolysis Market?
The key trends in the water electrolysis market are:
•Innovations in electrolyzer materials are emerging as a key trend in the market.
•The development and implementation of power-to-x technologies are influencing the market's trajectory.
•The integration of hybrid systems is a growing trend impacting the market.
•Improved automation and control systems, and integration with carbon capture technologies, are progressively influencing the future of the market.
Who Are the Top Competitors & Leading Players in the Water Electrolysis Market?
Major players in the water electrolysis market are:
• Robert Bosch GmbH
• ThyssenKrupp AG
• Siemens Energy AG
• Linde AG
• Toshiba Energy Systems & Solutions Corporation
• Cummins Inc.
• Sungrow Power Supply Co. Ltd.
• LONGi Green Energy Technology Co. Ltd.
• Plug Power Inc.
• KTH Royal Institute of Technology
• Sunfire GmbH.
• Nel ASA.
• Ohmium International Inc.
• Shandong AUYAN New Energy Technology Co. Ltd.
• HydrogenPro ASA
• Ceres Power Holdings plc
• McPhy Energy SA.
• Horizon Fuel Cell Technologies Pte Ltd
• ITM Power PLC.
• Giner ELX Inc.
• SES Hydrogen
• Enapter AG
• Elogen SAS
• Next Hydrogen Solutions Inc.
• CAPLINQ Corporation
• GreenH Electrolysis
Regional Dominance: Which Area Leads the Global Template Market?
Europe was the largest region in the water electrolysis market in 2024
