Water Electrolysis Makret size 2022 | Covid 19 Impact Analysis | Global industry trends, growth, share, scale and forecasts 2030
According to a recent report published by Market Research Future, Water Electrolysis Market is expected to rise at a CAGR of 6%, with a value of USD 9.3 billion over 2020-2030 Water Electrolysis Market Overview Water electrolysis is majorly used in chemicals industry, petroleum industry, and pharmaceutical industry. In chemical industry, water electrolysis is generally used to separate two components by chemical reaction. Water electrolysis is generally used to produce hydrogen that can be used for various purpose such as fuel, energy storage, and among others. The hydrogen produce using water electrolysis is used to manufacture ammonia, fertilizer, and methanol. The growth in chemical industry is expected to grow the water electrolysis market during the forecast period. The growth of the chemical industry in future will be driven by the developing markets due to the local players in that region. The report published covers all the aspects of the Water Electrolysis industry,