Water Electrolyzer Market

Industry Overview

A water electrolyzer is a device that separates water (H2O) into its parts, hydrogen (H2) and oxygen (O2), using electrical energy. It is composed of two electrodes, usually made of conductive materials like graphite or platinum, that are submerged in water. A chemical reaction is started when an electric current flows between the electrodes. Water molecules lose electrons at the cathode, creating hydrogen ions (H+). Water molecules receive electrons at the anode, where they combine to generate oxygen and release electrons. Hydrogen and oxygen gases are produced by this process, which is called electrolysis. These gases can be collected and used as clean, renewable energy sources.

The global Water Electrolyzer Market was worth USD 0.62 billion in 2023 and is expected to reach USD 58.5 billion by 2030 with a CAGR of 88.4% during the forecast period, i.e., 2025-2030. The growing demand for water electrolyzers is driven by the increasing demand for green hydrogen, government incentives for clean energy, advancements in electrolyzer technology, and rising awareness of decarbonization efforts in industries like transportation and energy production.

Geographically, the market is expanding rapidly in North America, Europe, and the Asia Pacific, as a result of the presence of large companies, huge investment in R&D, and high awareness among end-users; however, the market confronts constraints such as high upfront costs, limited infrastructure for hydrogen storage and transportation, intermittent renewable energy supply, and the need for further technological advancements to improve efficiency and reduce environmental impact. Overall, the water electrolyzer market offers potential prospects for market participants to develop and fulfill the growing needs of a wide range of industries including packaging, food and beverages, healthcare/pharmaceutical, and other industries.

Market Segmentation

Insight by Electrolyzer Type

Based on the water electrolyzer type, the global water electrolyzer market is segmented into alkaline electrolysis, proton exchange membrane (PEM) electrolysis, solid oxide electrolysis, and anion exchange membrane electrolysis. Alkaline electrolyzer type dominated the market in 2023 because of their established technology, affordability, and ability to produce hydrogen efficiently. Alkaline electrolyzers use an easily obtained, reasonably priced alkaline electrolyte solution, usually potassium hydroxide. The Hydrogenics plant in Ontario, Canada, and the Fukushima Hydrogen Energy Research Field in Japan are two well-known instances of alkaline electrolyzer facilities. These installations serve as evidence of the scalability and dependability of alkaline electrolyzers for large-scale hydrogen production, which has led to their popularity in the water electrolyzer industry and made them preferred options in sectors including energy storage, transportation, and renewable energy integration.

Insight by End-use Application

Based on end-use application, the global water electrolyzer market is segmented into the transportation/mobility industry, refining industry, power and energy storage, ammonia production, methanol production, and other end-use industries. Ammonia production dominated the global water electrolyzer market in 2023 owing to ammonia’s crucial part in the developing green energy industry and in the fertilizer industry. An essential step in the production of green ammonia, a powerful carbon-free fuel and feedstock, is the electrolysis of hydrogen. For example, Yara's green ammonia project in Norway uses water electrolyzers driven by renewable energy to manufacture ammonia to lower emissions from the fertilizer sector. Furthermore, the Japanese company ENEOS Corporation is investigating green ammonia as a sustainable energy source, highlighting its potential to transform several industries and reaffirming its leadership in the water electrolyzer market.

Global Water Electrolyzer Market Report Coverage

Industry Dynamics

Growth Drivers

Growing demand from the refining industry

In the current petroleum refining process, hydrogen has become an essential component for operations like de-sulfurization, reforming, and cracking, which provide valuable compounds and gasoline and diesel. According to the International Energy Agency (IEA), natural gas provides 75% of the hydrogen used in refineries. However, the high cost of hydrogen makes this a big hurdle, which is why businesses are looking for new ways to produce it.

The creation of hydrogen is essential to refinery operations, and demand for it is growing continuously. The two main production processes are water electrolysis and steam-methane reforming (SMR), both driven by renewable energy sources. Refineries are now able to produce green hydrogen on a large scale thanks to large-scale electrolyzers, which help with increased demand and carbon emissions. Environmental restrictions requiring refineries to reduce emissions will soon put them at the forefront of water electrolysis technology adoption.

Showcasing the industry's shift towards sustainable hydrogen solutions, the Phillips 66 Humber Refinery in the UK teamed with ITM Power to install a 30MW electrolyzer for green hydrogen production. This is in line with a larger trend in the refining industry, which is realizing more and more how water electrolysis may improve operational effectiveness and environmental sustainability.

Growing demand for green fertilizers

Utilizing hydrogen from natural gas or water, fertilizer plants create ammonia, a crucial component in fertilizer production, by combining air nitrogen with hydrogen. However, according to the Institute for Agriculture and Trade Policy, Greenpeace, and GRAIN, the traditional technique of producing hydrogen from natural gas causes significant greenhouse gas emissions and environmental impact. It accounts for about 2.5% of world greenhouse gas emissions. This has caused the fertilizer sector to change its ways and increase demand for environmentally friendly products like green ammonia and green hydrogen.

Plans for the largest green hydrogen plant in Europe were unveiled in 2022 by the Spanish companies Fertiberia and Iberdrola, with completion expected by 2030. The Puertollano project in Spain, which will require a $175 million investment, will have the capacity to produce 720 metric tons of green hydrogen annually in addition to a 100 MW photovoltaic solar plant for electrolysis electricity. By producing ammonia with green hydrogen, Fertiberia will cut its natural gas usage by about 10%. Showcasing the industry's dedication to low-emission, sustainable methods, Ørsted and Yara Fertilizer have also announced plans for a 100 MW water electrolyzer facility in the Netherlands that will supply green hydrogen to power a Yara fertilizer factory.

Challenge

High Energy Loss during Electrolysis Process

The global water electrolyzer market is severely challenged by high energy loss during the electrolysis process. Conversion losses, electrical resistance, and heat dissipation are some of the causes of efficiency losses. The overall cost of producing hydrogen rises as a result of these inefficiencies, which result in a reduced yield of hydrogen for a given quantity of electrical input. This makes water electrolysis less competitive when compared to other techniques of producing hydrogen. Reducing this energy loss is essential to the widespread use of water electrolyzers since higher efficiency would increase hydrogen's sustainability and economic viability as a clean energy source.

Geographic Overview

• North America

• Europe

• Asia Pacific (APAC)

• Middle East and Africa (MEA)

• Latin America

The global water electrolyzer market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa region. The global water electrolyzer market was dominated by Europe in 2022 due to its progressive laws, significant investments, and growing emphasis on green energy. The ambitious Green Deal and hydrogen agendas of the European Union allocated significant funds for electrolyzer projects. Prominent examples comprise the Hybrit project in Sweden, a collaborative effort by SSAB, LKAB, and Vattenfall, to substitute green hydrogen for coking coal in the steel industry. Furthermore, Europe is leading the world in water electrolyzer improvements and promoting a sustainable energy landscape, as evidenced by the 'National Hydrogen Strategy' of Germany and the 'Hydrogen Plan' of France.

Competitive Insight

NEL ASA is a market leader for water electrolyzers worldwide and being a top player in the market, they have built a strong reputation for providing electrolysis systems of the highest caliber. Because of their efficiency and versatility, their Proton Exchange Membrane (PEM) electrolyzers are well-suited for a wide range of applications, including as industrial operations and the storage of renewable energy. Projects like the "Green Hydrogen for Scotland" initiative, which aims to use NEL ASA's electrolyzer technology for large-scale hydrogen production, are prime examples of the company's crucial role in expanding the green hydrogen sector. Furthermore, partnerships with significant industry participants highlight NEL ASA's impact on the global landscape of sustainable hydrogen production going forward.

Thyssenkrupp has made a significant impact on the global water electrolyzers market with their manufacturing and technical expertise including electrolysis equipment, which allows them to provide state-of-the-art green hydrogen production solutions. Their cutting-edge alkaline electrolyzers stand out in particular for their effectiveness and robustness. Thyssenkrupp's critical role is demonstrated by their participation in the "Haru Oni" project in Chile, which attempts to use renewable energy sources to produce green hydrogen. Furthermore, collaborations with companies such as Ørsted in Denmark and E.ON in Germany highlight Thyssenkrupp's significant contribution to advancing the global uptake of sustainable hydrogen technologies.

Recent Development by Key Players

ThyssenKrupp Nuclear and Neste signed an agreement to reserve production capacities for a 120 MW water electrolyzer at Neste’s refinery in Finland. The new electrolyzers will allow Neste to start producing green hydrogen at its refinery in Porvoo, Finland. There is a growing demand for thyssenkrupp Nucera’s water electrolysis technology with their third reservation agreement for production capacities within the last few months.

Veradagy, an industry pioneer specializing in advanced water electrolysis electrolyzer technologies for large-scale industrial applications, opened a new cutting-edge manufacturing facility in Newark, California, marking a significant milestone in the United States’ green hydrogen industry. Operations in the new facility are expected to start in Q1 2024 with the company aiming to double its employee count by next summer to accommodate the facility’s operation and expansion.

Key Players Covered in the Report

Asahi Kasei Corporation, Nel ASA, thyssenkrupp AG, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Teledyne Energy Systems Inc., Suzhou Green Hydrogen Energy Co., Ltd., Suzhou Jingli Hydrogen Production Equipment Co., Ltd., ITM Power PLC, Clean Power Hydrogen Group Limited, Plug Power Inc., Hitachi Zosen Corporation, John Cockerill, Siemens Energy AG, McPhy Energy S.A., Enapter AG, Elogen, h2e Power Systems Pvt. Ltd., Ohmium, and Hystar.

The Water Electrolyzer Market Report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• By Electrolyzer Type

• Alkaline Electrolyzer

• Proton Exchange Membrane (PEM) Electrolyzer

• Solid Oxide Electrolyzer Cell (SOEC)

• Anion Exchange Membrane (AEM) Electrolyzers

• End-Use Application

• Transportation/Mobility Industry

• Refining Industry

• Power and Energy Storage

• Ammonia Production

• Methanol Production

• Other End-Use Applications

Region Covered in the Report

• North America

• U.S.

• Canada

• Mexico

• Europe

• Germany

• U.K.

• France

• Italy

• Spain

• Russia

• Rest of Europe

• Asia-Pacific (APAC)

• China

• Japan

• India

• South Korea

• Rest of Asia-Pacific

• Middle East and Africa (MEA)

• Saudi Arabia

• U.A.E

• South Africa

• Rest of MEA

• Latin America

• Argentina

• Brazil

• Chile

• Rest of Latin America

Primary Research Interviews Breakdown

1.    Research Overview

       1.1.   The Report Offers
       1.2.   Market Coverage
                1.2.1.    By Electrolyzer Type
                1.2.2.    By End-use Application          
                1.2.3.    By Region
        1.3.  Research Phases
        1.4.  Limitations
        1.5.  Market Methodology
                 1.5.1.  Data Sources
                            1.5.1.1. Primary Research
                            1.5.1.2. Secondary Research
                1.5.2.   Methodology
                            1.5.2.1. Data Exploration
                            1.5.2.2. Forecast Parameters
                            1.5.2.3. Data Validation
                            1.5.2.4. Assumptions
                1.5.3.   Study Period & Data Reporting Unit

2.   Executive Summary

3.   Industry Overview

      3.1.   Industry Dynamics
               3.1.1.  Market Growth Drivers
               3.1.2.  Market Restraints
               31.3.   Key Market Trends
               3.1.4.  Major Opportunities
        3.2.  Industry Ecosystem
                3.2.1.   Porter’s Five Forces Analysis
                3.2.2.   Recent Development Analysis
                3.2.3.   Value Chain Analysis
        3.3.  Competitive Insight
                3.3.1.  Competitive Position of Industry Players
                3.3.2.  Market Attractive Analysis
                3.3.3.  Market Share Analysis

4.    Global Market Estimate and Forecast

        4.1.   Global Market Overview
        4.2.   Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.  By Electrolyzer Type
                5.1.1.  Alkaline Electrolysis
                           5.1.1.1.  Market Definition
                           5.1.1.2.  Market Estimation and Forecast to 2030 
                5.1.2.  Proton Exchange Membrane (PEM) Electrolysis
                           5.1.2.1.  Market Definition
                           5.1.2.2.  Market Estimation and Forecast to 2030
                5.1.3.  Solid Oxide Electrolysis
                           5.1.3.1.  Market Definition
                           5.1.3.2.  Market Estimation and Forecast to 2030 
                5.1.4.  Anion Exchange Membrane Electrolysis
                           5.1.4.1.  Market Definition
                           5.1.4.2.  Market Estimation and Forecast to 2030 
        5.2.    By End-use Application
                  5.2.1.   Transportation/Mobility Industry
                              5.2.1.1.  Market Definition
                              5.2.1.2.  Market Estimation and Forecast to 2030
                  5.2.2.  Refining Industry
                             5.2.2.1.  Market Definition
                             5.2.2.2.  Market Estimation and Forecast to 2030
                  5.2.3.  Power and Energy Storage
                             5.2.3.1.  Market Definition
                             5.2.3.2.  Market Estimation and Forecast to 2030
                  5.2.4.  Ammonia Production
                             5.2.4.1.  Market Definition
                             5.2.4.2. Market Estimation and Forecast to 2030
                  5.2.5.  Methanol Production
                             5.2.5.1.  Market Definition
                             5.2.5.2.  Market Estimation and Forecast to 2030
6.   North America Market Estimate and Forecast

       6.1.   By Electrolyzer Type
       6.2.   By End-use Application
       6.3.   By Country
                6.3.1.   U.S. Market Estimate and Forecast
                6.3.2.   Canada Market Estimate and Forecast
                6.3.3.   Mexico Market Estimate and Forecast

7.   Europe Market Estimate and Forecast

       7.1.   By Electrolyzer Type
       7.2.   By End-use Application
       7.3.   By Country
                7.3.1.  Germany Market Estimate and Forecast
                7.3.2.  France Market Estimate and Forecast
                7.3.3.  U.K. Market Estimate and Forecast
                7.3.4.  Italy Market Estimate and Forecast
                7.3.5.  Spain Market Estimate and Forecast
                7.3.6.  Rest of Europe Market Estimate and Forecast

8.   Asia-Pacific Market Estimate and Forecast

       8.1.  By Electrolyzer Type
       8.2.  By End-use Application
       8.3.  By Country
               8.3.1.    China Market Estimate and Forecast
               8.3.2.    Japan Market Estimate and Forecast
               8.3.3.    India Market Estimate and Forecast
                8.3.4.   South Korea Market Estimate and Forecast
                8.3.5.   Singapore Market Estimate and Forecast
                8.3.6.   Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

       9.1.   By Electrolyzer Type
       9.2.   By End-use Application
       9.3.   By Country
                9.3.1.   Brazil Market Estimate and Forecast
                9.3.2.   Saudi Arabia Market Estimate and Forecast
                9.3.3.   South Africa Market Estimate and Forecast
                9.3.4.   Other Countries Market Estimate and Forecast

10.  Company Profiles

       10.1.   Asahi Kasei Corporation
                  10.1.1.  Snapshot
                  10.1.2.  Overview
                  10.1.3.  Offerings
                  10.1.4.  Financial Insight
                  10.1.5.  Recent Developments
       10.2.  Nel ASA
                 10.2.1.  Snapshot
                 10.2.2.  Overview
                 10.2.3.  Offerings
                 10.2.4.  Financial Insight
                 10.2.5.  Recent Developments
       10.3. Thyssenkrupp AG
                 10.3.1.  Snapshot
                 10.3.2.  Overview
                 10.3.3.  Offerings
                 10.3.4.  Financial Insight
                 10.3.5.  Recent Developments
       10.4.  Cummins Inc.
                  10.4.1.  Snapshot
                  10.4.2.  Overview
                  10.4.3.  Offerings
                  10.4.4.  Financial Insight
                  10.4.5.  Recent Developments
       10.5.  Toshiba Energy Systems & Solutions Corporation
                  10.5.1.   Snapshot
                  10.5.2.   Overview
                  10.5.3.   Offerings
                  10.5.4.   Financial Insight
                  10.5.5.   Recent Developments
       10.6.  Teledyne Energy Systems Inc.
                  10.6.1.  Snapshot
                  10.6.2.  Overview
                  10.6.3.  Offerings
                  10.6.4.  Financial Insight
                  10.6.5.  Recent Developments
       10.7.  Suzhou Green Hydrogen Energy Co. Ltd.
                 10.7.1.  Snapshot
                 10.7.2.  Overview
                 10.7.3.  Offerings
                 10.7.4.  Financial Insight
                 10.7.5.  Recent Developments
       10.8.  Suzhou Jingli Hydrogen Production Equipment Co. Ltd.
                 10.8.1.  Snapshot
                 10.8.2.  Overview
                 10.8.3.  Offerings
                 10.8.4.  Financial Insight
                 10.8.5.  Recent Developments
       10.9.  ITM Power PLC
                 10.9.1.  Snapshot
                 10.9.2.  Overview
                 10.9.3.  Offerings
                 10.9.4.  Financial Insight
                 10.9.5.  Recent Developments
      10.10. Clean Power Hydrogen Group Limited
                 10.10.1.  Snapshot
                 10.10.2.  Overview
                 10.10.3.  Offerings
                 10.10.4.  Financial Insight
                 10.10.5.  Recent Developments
    10.11.   Plug Power Inc.
                 10.11.1.  Snapshot
                 10.11.2.  Overview
                 10.11.3.  Offerings
                 10.11.4.  Financial Insight
                 10.11.5.  Recent Developments
    10.12   Hitachi Zosen Corporation
                10.12.1.  Snapshot
                10.12.2.  Overview
                10.12.3.  Offerings
                10.12.4.  Financial Insight
                10.12.5.  Recent Developments
    10.13.   John Cockerill
                 10.13.1.  Snapshot
                 10.13.2.  Overview
                 10.13.3.  Offerings
                 10.13.4.  Financial Insight
                 10.13.5.  Recent Developments
    10.14   Siemens Energy AG
                10.14.1.  Snapshot
                10.14.2.  Overview
                10.14.3.  Offerings
                10.14.4.  Financial Insight
                10.14.5.  Recent Developments
    10.15.  McPhy Energy S.A.
                10.15.1.  Snapshot
                10.15.2.  Overview
                10.15.3.  Offerings
                10.15.4.  Financial Insight
                10.15.5.  Recent Developments
    10.16.  Enapter AG
                 10.16.1.  Snapshot
                 10.16.2.  Overview
                 10.16.3.  Offerings
                 10.16.4.  Financial Insight
                 10.16.5.  Recent Developments
    10.17.  Elogen
                10.17.1.  Snapshot
                10.17.2.  Overview
                10.17.3.  Offerings
                10.17.4.  Financial Insight
                10.17.5.  Recent Developments
    10.18.  h2e Power Systems Pvt. Ltd.
                10.18.1. Snapshot
                10.18.2. Overview
                10.18.3. Offerings
                10.18.4. Financial Insight
                10.18.5. Recent Developments
    10.19.  Ohmium
                10.19.1. Snapshot
                10.19.2. Overview
                10.19.3. Offerings
                10.19.4. Financial Insight
                10.19.5. Recent Developments
    10.20.  Hystar
                10.20.1.  Snapshot
                10.20.2.  Overview
                10.20.3.  Offerings
                10.20.4.  Financial Insight
                10.20.5.  Recent Developments
11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 5 Global Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 6 Global Water Electrolyzer Market Size, by End-use Application, 2018 – 2023 (USD Billion)
Table 7 Global Water Electrolyzer Market Size, by End-use Application, 2025 – 2030 (USD Billion)
Table 10 Global Water Electrolyzer Market Size, by Region, 2018 – 2023 (USD Billion)
Table 11 Global Water Electrolyzer Market Size, by Region, 2025 – 2030 (USD Billion)
Table 12 North America Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 13 North America Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 14 North America Water Electrolyzer Market Size, by End-use Application, 2018–2023 (USD Billion)
Table 15 North America Water Electrolyzer Market Size, by End-use Application, 2025 - 2030 (USD Billion)
Table 18 North America Water Electrolyzer Market Size, by Country, 2018 – 2023 (USD Billion)
Table 19 North America Water Electrolyzer Market Size, by Country, 2025 – 2030 (USD Billion)
Table 20 Europe Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 21 Europe Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 22 Europe Water Electrolyzer Market Size, by End-use Application, 2018 – 2023 (USD Billion)
Table 23 Europe Water Electrolyzer Market Size, by End-use Application, 2025 – 2030 (USD Billion)
Table 26 Europe Water Electrolyzer Market Size, by Country, 2018 – 2023 (USD Billion)
Table 27 Europe Water Electrolyzer Market Size, by Country, 2025 – 2030 (USD Billion)
Table 28 Asia-Pacific Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 29 Asia-Pacific Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 30 Asia-Pacific Water Electrolyzer Market Size, by End-use Application, 2018–2023 (USD Billion)
Table 31 Asia-Pacific Water Electrolyzer Market Size, by End-use Application, 2025 - 2030 (USD Billion)
Table 34 Asia-Pacific Water Electrolyzer Market Size, by Country, 2018 – 2023 (USD Billion)
Table 35 Asia-Pacific Water Electrolyzer Market Size, by Country, 2025 – 2030 (USD Billion)
Table 36 RoW Water Electrolyzer Market Size, by Electrolyzer Type, 2018 – 2023 (USD Billion)
Table 37 RoW Water Electrolyzer Market Size, by Electrolyzer Type, 2025 – 2030 (USD Billion)
Table 38 RoW Water Electrolyzer Market Size, by End-use Application, 2018 – 2023 (USD Billion)
Table 39 RoW Water Electrolyzer Market Size, by End-use Application, 2025 – 2030 (USD Billion)
Table 42 RoW Water Electrolyzer Market Size, by Country, 2018 – 2023 (USD Billion)
Table 43 RoW Water Electrolyzer Market Size, by Country, 2025 – 2030 (USD Billion)
Table 44 Snapshot – Asahi Kasei Corporation
Table 45 Snapshot – Nel ASA
Table 46 Snapshot – Thyssenkrupp AG
Table 47 Snapshot – Cummins Inc.
Table 48 Snapshot – Toshiba Energy Systems & Solutions Corporation
Table 49 Snapshot – Teledyne Energy Systems Inc.
Table 50 Snapshot – Suzhou Green Hydrogen Energy Co. Ltd.
Table 51 Snapshot – Suzhou Jingli Hydrogen Production Equipment Co. Ltd.
Table 52 Snapshot – ITM Power PLC
Table 53 Snapshot – Clean Power Hydrogen Group Limited
Table 54 Snapshot – Plug Power Inc.
Table 55 Snapshot – Hitachi Zosen Corporation
Table 56 Snapshot – John Cockerill
Table 57 Snapshot – Siemens Energy AG
Table 58 Snapshot – McPhy Energy S.A.
Table 59 Snapshot – Enapter AG
Table 60 Snapshot – Elogen
Table 61 Snapshot – h2e Power Systems Pvt. Ltd.
Table 62 Snapshot – Ohmium
Table 63 Snapshot – Hystar

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9  Global Water Electrolyzer Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Water Electrolyzer Market Highlight
Figure 12 Global Water Electrolyzer Market Size,  by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 13 Global Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 15 Global Water Electrolyzer Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 16 North America Water Electrolyzer Market Highlight
Figure 17 North America Water Electrolyzer Market Size,  by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 18 North America Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 20 North America Water Electrolyzer Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 21 Europe Water Electrolyzer Market Highlight
Figure 22 Europe Water Electrolyzer Market Size,  by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 23 Europe Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 25 Europe Water Electrolyzer Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 26 Asia-Pacific Water Electrolyzer Market Highlight
Figure 27 Asia-Pacific Water Electrolyzer Market Size,  by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 28 Asia-Pacific Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 30 Asia-Pacific Water Electrolyzer Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 31 RoW Water Electrolyzer Market Highlight
Figure 32 RoW Water Electrolyzer Market Size,  by Electrolyzer Type, 2018 - 2030 (USD Billion)
Figure 33 RoW Water Electrolyzer Market Size, by End-use Application 2018 - 2030 (USD Billion)
Figure 35 RoW Water Electrolyzer Market Size, by Country, 2018 - 2030 (USD Billion)