The analysis of Market Research Report Store shows that the market of water electrolysis is expected to grow at the significant CAGR during the forecast period of 2019 to 2025. Electrolysis is a process that uses electricity to split water into hydrogen and oxygen. The reaction occurs in an instrument called electrolyze which range in size and varies from appliance size equipment to large size equipment.
Like all the fuel cells electrolyzes contains anode and cathode that are separated by an electrolyte. Electrolysis varies in the way they function due to the involvement of material used. The report also covers some major manufacturers along with all the factors affecting the business of these major manufacturers.
The market is segmented based on type and application. The types of electrolysis include PEM Electrolyser and Traditional Alkaline Electrolyser. The application includes Electronics, Photovoltaics, Power to Gas, Power Plants, Industrial Gases, Steel Plant, Energy Storage or Fueling for FCEV’s and others. The market is also segmented into regions and different regions are covered in the report along with all the factors affecting the market in these regions.
The use of water electrolysis varies and it can be used in various industries because it is a renewable source of hydrogen production. The market of it is rapidly expanding due to the increased use of hydrogen in different industries.