North America Alkaline Water Electrolysis Market Size & Outlook
North America alkaline water electrolysis market, 2018-2030 (US$M)
North America alkaline water electrolysis market highlights
- The North America alkaline water electrolysis market generated a revenue of USD 25.3 million in 2023.
- The market is expected to grow at a CAGR of 20.6% 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.
North America data book summary
| Market revenue in 2023 | USD 25.3 million |
| Market revenue in 2030 | USD 93.8 million |
| Growth rate | 20.6% (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, North America region accounted for 18.0% 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 North America alkaline water electrolysis market based on < 10 m3/h covering the revenue growth of each sub-segment from 2018 to 2030.
The region is witnessing substantial investments in hydrogen infrastructure and technology advancements that enhance the efficiency and cost-effectiveness of alkaline electrolysis systems. Major players, including Thyssenkrupp and Nel Hydrogen, are actively expanding their capabilities to meet the rising demand.
Additionally, the automotive industry's shift toward hydrogen fuel cell vehicles further propels market growth. As North America aims for a sustainable energy future, the alkaline water electrolysis market is well-positioned for continued expansion, reflecting the broader global trend towards decarbonization and renewable energy integration.
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Alkaline Water Electrolysis Market Scope
Alkaline Water Electrolysis Market Companies
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North America alkaline water electrolysis market
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