The global power supply equipment market for water electrolysis, valued at $0.430 billion in 2023, is projected to witness substantial growth, reaching $5.71 billion by 2032.
The market is expected to accelerate at a remarkable CAGR of 33.27% during the forecast period. The report on the power supply equipment market for water electrolysis provides a comprehensive analysis, including market size and forecast, trends, growth drivers, challenges, and vendor analysis, featuring around 25 leading vendors.
Market Overview:
The power supply equipment market for water electrolysis is driven by supportive government initiatives, strict net-zero targets, and the increasing demand for hydrogen fuel cell vehicles, green ammonia, green methanol, and other applications.
Water electrolysis involves converting electrical energy into chemical energy in the form of hydrogen and oxygen, and power supply equipment plays a crucial role in providing the necessary electrical energy for the electrolysisprocess.
The rising demand for green hydrogen, which has the potential to prevent the release of around 830 million tons of CO2 annually, is a significant driver for market growth.
Market Segmentation: Segmentation 1: by Application
Alkaline Electrolyzer
Proton Exchange Membrane (PEM) Electrolyzer
Solid Oxide Electrolytic Cell (SOEC) Electrolyzer
Anion Exchange Membrane (AEM) Electrolyzer
Segmentation 2: by Equipment Type
Rectifier (Thyristor Rectifier, IGBT Rectifier, Others)
Transformer
Others
Segmentation 3: by Region
North America: U.S., Canada, and Mexico
Europe: Germany, France, Spain, Netherlands, and Rest-of-Europe
U.K.
China
Asia-Pacific and Japan: Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific and Japan
Rest of the World: South America and the Middle East and Africa
