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Asia Pacific Electrolysis Hydrogen Generation Market Trends

Report ID: GMI9401
Published Date: May 2024
Report Format: PDF

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Asia Pacific Electrolysis Hydrogen Generation Market Trends

Rapid growth in the integration of renewable energy sources coupled with growing emphasis on green hydrogen production driven by environmental concerns and climate targets will stimulate the business landscape. Additionally, rising partnerships and collaborations to accelerate the development and deployment of technology for clean energy generation technology will drive innovation and market expansion.

Rising investments in hydrogen infrastructure, including electrolysis plants, storage facilities, and refueling stations are expanding across the region, thereby creating lucrative opportunities for product demand. Additionally, rising research and development (R&D) investments aim to enhance the efficiency, performance, and cost effectiveness of the systems, will drive the business outlook.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size for electrolysis hydrogen generation in Asia Pacific reached USD 8 billion in 2023 and will grow at 7% CAGR during 2024-2032, led by ongoing technological advancements including improvements in efficiency, durability, and cost-effectiveness.

The petroleum refining application segment will exceed USD 5.4 billion by 2032, driven by rising demand for hydrogen as a feedstock across various refining operations.

China electrolysis hydrogen generation industry is anticipated to grow by more than USD 6 billion by 2032, owing to ambitious sustainability goals and commitment to reducing carbon emissions.

Air Liquide, Cummins Inc., Huadian Group, HyGear, ITM Power PLC, McPhy Energy S.A, Nel ASA, Plug Power Inc, RESONAC HOLDINGS CORPORATION, Siemens Energy, TAIYO NIPPON SANSO CORPORATION, Teledyne Technologies Incorporated, and Tianjin Baofeng Chemical Co., Ltd among others.