Asia Pacific Alkaline Water Electrolysis Market Size & Outlook
Asia Pacific alkaline water electrolysis market, 2018-2030 (US$M)
Asia Pacific alkaline water electrolysis market highlights
- The Asia Pacific alkaline water electrolysis market generated a revenue of USD 48.6 million in 2023.
- The market is expected to grow at a CAGR of 20% from 2024 to 2030.
- In terms of segment, < 10 m3/h was the largest revenue generating type in 2023.
- < 10 m3/h is the most lucrative type segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 48.6 million |
| Market revenue in 2030 | USD 174.4 million |
| Growth rate | 20% (CAGR from 2023 to 2030) |
| Largest segment | < 10 m3/h |
| Fastest growing segment | < 10 m3/h |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | < 10 m3/h |
| Key market players worldwide | ITM Power PLC, NEL Hydrogen, Cummins Inc, McPhy Energy SA, Thyssenkrupp AG, Asahi Kasei Corp, Green Hydrogen Systems, Enaex, SunHydrogen, Teledyne CARIS |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 34.6% of the global alkaline water electrolysis market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 93.8 million by 2030.
< 10 m3/h was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Asia Pacific alkaline water electrolysis market based on < 10 m3/h covering the revenue growth of each sub-segment from 2018 to 2030.
Key countries such as China, Japan, and India are leading this growth, fueled by government initiatives aimed at reducing carbon emissions and promoting renewable energy technologies. The region's industrial sectors, including steel manufacturing, chemicals, and electronics, are increasingly adopting hydrogen as a cleaner alternative to fossil fuels, enhancing the demand for alkaline water electrolysis systems.
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Alkaline Water Electrolysis Market Scope
Alkaline Water Electrolysis Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific alkaline water electrolysis market
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