Water Electrolysis Market Projected to Reach USD 9,318.4 Million, at a 6% CAGR by 2030 � Report by M

Mrfrmarket20 Jun, 2024Business

Water electrolysis is a technology that uses an electric current to split water into oxygen and hydrogen. The hydrogen produced through this process can be used as a fuel source or a feedstock for the production of chemicals. The water electrolysis market includes the sales of equipment and services related to this technology. The use of hydrogen in transportation is particularly promising, as it can be used to power fuel cell vehicles, which emit only water and heat as byproducts. Governments in several countries have implemented policies to encourage the adoption of fuel cell vehicles and the development of the necessary infrastructure, which is expected to drive the growth of the water electrolysis market.