The global water electrolysis market size accounted for USD 7.25 billion in 2025 and is forecasted to hit around USD 14.40 billion by 2034, representing a CAGR of 7.92% from 2025 to 2034. Asia Pacific market size was estimated at USD 2.89 billion in 2024 and is expanding at a CAGR of 8.03% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Water Electrolysis Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Water Electrolysis Market Revenue and Volume, By Product Outlook
8.1.1 Alkaline Water Electrolysis
8.1.1.1. Market Revenue and Volume Forecast
8.1.2. Proton Exchange Membrane
8.1.2.1. Market Revenue and Volume Forecast
8.1.3. Solid Oxide Electrolyte (SOE)
8.1.3.1. Market Revenue and Volume Forecast
9.1. Water Electrolysis Market Revenue and Volume, By End-use Outlook
9.1.1. Chemicals
9.1.1.1. Market Revenue and Volume Forecast
9.1.2. Electronics & Semiconductor
9.1.2.1. Market Revenue and Volume Forecast
9.1.3. Others
9.1.3.1. Market Revenue and Volume Forecast
9.1.4. Petroleum
9.1.4.1. Market Revenue and Volume Forecast
9.1.5. Pharmaceuticals
9.1.5.1. Market Revenue and Volume Forecast
9.1.6. Power Plants
9.1.6.1. Market Revenue and Volume Forecast
10.1. North America
10.1.1. Market Revenue and Volume Forecast, By Product Outlook
10.1.2. Market Revenue and Volume Forecast, By End-use Outlook
10.1.3. U.S.
10.1.3.1. Market Revenue and Volume Forecast, By Product Outlook
10.1.3.2. Market Revenue and Volume Forecast, By End-use Outlook
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Volume Forecast, By Product Outlook
10.1.4.2. Market Revenue and Volume Forecast, By End-use Outlook
10.2. Europe
10.2.1. Market Revenue and Volume Forecast, By Product Outlook
10.2.2. Market Revenue and Volume Forecast, By End-use Outlook
10.2.3. UK
10.2.3.1. Market Revenue and Volume Forecast, By Product Outlook
10.2.3.2. Market Revenue and Volume Forecast, By End-use Outlook
10.2.4. Germany
10.2.4.1. Market Revenue and Volume Forecast, By Product Outlook
10.2.4.2. Market Revenue and Volume Forecast, By End-use Outlook
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, By Product Outlook
10.2.5.2. Market Revenue and Volume Forecast, By End-use Outlook
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Volume Forecast, By Product Outlook
10.2.6.2. Market Revenue and Volume Forecast, By End-use Outlook
10.3. APAC
10.3.1. Market Revenue and Volume Forecast, By Product Outlook
10.3.2. Market Revenue and Volume Forecast, By End-use Outlook
10.3.3. India
10.3.3.1. Market Revenue and Volume Forecast, By Product Outlook
10.3.3.2. Market Revenue and Volume Forecast, By End-use Outlook
10.3.4. China
10.3.4.1. Market Revenue and Volume Forecast, By Product Outlook
10.3.4.2. Market Revenue and Volume Forecast, By End-use Outlook
10.3.5. Japan
10.3.5.1. Market Revenue and Volume Forecast, By Product Outlook
10.3.5.2. Market Revenue and Volume Forecast, By End-use Outlook
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Volume Forecast, By Product Outlook
10.3.6.2. Market Revenue and Volume Forecast, By End-use Outlook
10.4. MEA
10.4.1. Market Revenue and Volume Forecast, By Product Outlook
10.4.2. Market Revenue and Volume Forecast, By End-use Outlook
10.4.3. GCC
10.4.3.1. Market Revenue and Volume Forecast, By Product Outlook
10.4.3.2. Market Revenue and Volume Forecast, By End-use Outlook
10.4.4. North Africa
10.4.4.1. Market Revenue and Volume Forecast, By Product Outlook
10.4.4.2. Market Revenue and Volume Forecast, By End-use Outlook
10.4.5. South Africa
10.4.5.1. Market Revenue and Volume Forecast, By Product Outlook
10.4.5.2. Market Revenue and Volume Forecast, By End-use Outlook
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Volume Forecast, By Product Outlook
10.4.6.2. Market Revenue and Volume Forecast, By End-use Outlook
10.5. Latin America
10.5.1. Market Revenue and Volume Forecast, By Product Outlook
10.5.2. Market Revenue and Volume Forecast, By End-use Outlook
10.5.3. Brazil
10.5.3.1. Market Revenue and Volume Forecast, By Product Outlook
10.5.3.2. Market Revenue and Volume Forecast, By End-use Outlook
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Volume Forecast, By Product Outlook
10.5.4.2. Market Revenue and Volume Forecast, By End-use Outlook
11.1. Asahi Kasei Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Cummins Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Hitachi Zosen Corporation
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. ITM Power PLC
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Nel ASA
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Plug Power Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Siemens Energy AG
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Teledyne Energy Systems Inc. Ltd.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. ThyssenKrupp AG
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Toshiba Energy Systems & Solutions Corporation
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
13.1. About Us
13.2. Glossary of Terms
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