Asia-Pacific Power Supply Equipment Market for Water Electrolysis: Analysis and Forecast, 2023-2032

Report
83 Pages
February 2024
Region: Asia Pacific
BIS Research
ID: 5933031

The Asia-Pacific power supply equipment market for water electrolysis (excluding China) was valued at $50.5 million in 2023, and it is expected to grow at a CAGR of 35.67% and reach $785.6 million by 2032. The growth of the water electrolysis power supply equipment market is anticipated to be propelled by favorable government policies, stringent net-zero objectives, and increasing requirements for hydrogen fuel cell vehicles, environmentally friendly ammonia, sustainable methanol, and similar applications.

Market Introduction

The Asia-Pacific (APAC) region is poised to become a significant player in the power supply equipment market for water electrolysis. This growth is driven by a combination of factors, including increasing government support through policies and incentives aimed at promoting clean energy and sustainability. APAC countries are increasingly recognizing the importance of hydrogen in their energy transition strategies, which is boosting investments in water electrolysis technology and its associated power supply equipment.

Moreover, the region's technological advancements, particularly in proton exchange membrane (PEM) electrolysis, are contributing to the demand for specialized power supply equipment tailored to these systems. APAC's vast renewable energy potential and the integration of renewable sources into the power supply chain also play a crucial role in driving the market's growth. As the focus on green hydrogen intensifies, the APAC power supply equipment market for water electrolysis is expected to witness significant expansion. Companies in the region are actively investing in research and development to establish their presence in this growing segment. This dynamic landscape positions APAC as a key contributor to the future of sustainable hydrogen production.

Market Segmentation:

Segmentation 1: by Application

Alkaline Electrolyzer
Proton Exchange Membrane (PEM) Electrolyzer
Solid Oxide Electrolytic Cell (SOEC) Electrolyzer
Anion Exchange Membrane (AEM) Electrolyzer

Segmentation 2: by Equipment Type

Rectifier
Thyristor Rectifier
IGBT Rectifier
Others
Transformer
Others

Segmentation 3: by Country

Japan
South Korea
India
Australia
Rest-of-Asia-Pacific and Japan

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the power supply equipment used in the water electrolysis process, including rectifiers, transformers, and others. Moreover, the study provides the reader with a detailed understanding of the power supply equipment market for water electrolysis by different applications (alkaline electrolyzer, proton exchange membrane (PEM) electrolyzer, solid oxide electrolytic cell (SOEC) electrolyzer, and anion exchange membrane (AEM) electrolyzer).

Growth/Marketing Strategy: The power supply equipment market for water electrolysis has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships, agreements, and collaborations.

Competitive Strategy: The key players in the Asia-Pacific power supply equipment market for water electrolysis analyzed and profiled in the study involve power supply equipment manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the APAC power supply equipment market for water electrolysis has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some prominent names established in this market are:

Ador Powertron Ltd
TMEIC
Statcon Energiaa Pvt. Ltd.

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Executive SummaryScope of the Study

1 Markets

1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Rising Interest in Green Hydrogen as a Clean Energy Source
1.1.1.2 Advancements in Power Electronics
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem of Power Supply Equipment Market for Water Electrolysis
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory/Certification Bodies
1.1.3.3 Government Programs
1.1.3.4 Programs by Research Institutions and Universities
1.1.4 Total Addressable Market for Hydrogen & Serviceable Market for Electrolyzer, by 2050
1.1.5 Key Strategies Adopted Across Globe: Sustainable Hydrogen
1.1.6 Recent and Upcoming Key Green Hydrogen Projects (2020-2024)
1.1.7 Impact of COVID-19 on the Power Supply Equipment Market for Water Electrolysis
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Shift toward Renewable Energy Integration
1.2.1.2 Government Support for Renewable Hydrogen Production
1.2.2 Business Challenges
1.2.2.1 Expensive Hydrogen Technology
1.2.2.2 High Energy Losses during the Electrolysis Process
1.2.3 Business Strategies
1.2.4 Product Developments
1.2.5 Market Developments
1.2.6 Corporate Strategies
1.2.7 Mergers and Acquisitions
1.2.8 Partnerships and Joint Ventures
1.2.9 Business Opportunities
1.2.9.1 Advancements in Electrolysis Technology
1.2.9.2 Lucrative Demand for Water Electrolysis from End-User Industries
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem

2 Region

2.1 China
2.1.1 Market
2.1.1.1 Buyer Attributes
2.1.1.2 Key Producers and Suppliers in China
2.1.1.3 Regulatory Landscape
2.1.1.4 Business Drivers
2.1.1.5 Business Challenges
2.1.2 Application
2.1.2.1 China Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
2.1.3 Product
2.1.3.1 China Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
2.2 Asia-Pacific and Japan
2.2.1 Markets
2.2.1.1 Key Producers and Suppliers in Asia-Pacific and Japan
2.2.1.2 Business Drivers
2.2.1.3 Business Challenges
2.2.2 Application
2.2.2.1 Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
2.2.3 Product
2.2.3.1 Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
2.2.4 Asia-Pacific and Japan (by Country)
2.2.4.1 Japan
2.2.4.1.1 Markets
2.2.4.1.1.1 Buyer Attributes
2.2.4.1.1.2 Key Producers and Suppliers in Japan
2.2.4.1.1.3 Regulatory Landscape
2.2.4.1.1.4 Business Drivers
2.2.4.1.1.5 Business Challenges
2.2.4.1.2 Application
2.2.4.1.2.1 Japan Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
2.2.4.1.3 Product
2.2.4.1.3.1 Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
2.2.4.2 South Korea
2.2.4.2.1 Market
2.2.4.2.1.1 Buyer Attributes
2.2.4.2.1.2 Key Producers and Suppliers in South Korea
2.2.4.2.1.3 Regulatory Landscape
2.2.4.2.1.4 Business Drivers
2.2.4.2.1.5 Business Challenges
2.2.4.2.2 Application
2.2.4.2.2.1 South Korea Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
2.2.4.2.3 Product
2.2.4.2.3.1 South Korea Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
2.2.4.3 India
2.2.4.3.1 Markets
2.2.4.3.1.1 Buyer Attributes
2.2.4.3.1.2 Key Producers and Suppliers in India
2.2.4.3.1.3 Regulatory Landscape
2.2.4.3.1.4 Business Drivers
2.2.4.3.1.5 Business Challenges
2.2.4.3.2 Application
2.2.4.3.2.1 India Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
2.2.4.3.3 Product
2.2.4.3.3.1 India Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
2.2.4.4 Australia
2.2.4.4.1 Markets
2.2.4.4.1.1 Buyer Attributes
2.2.4.4.1.2 Key Producers and Suppliers in Australia
2.2.4.4.1.3 Regulatory Landscape
2.2.4.4.1.4 Business Drivers
2.2.4.4.1.5 Business Challenges
2.2.4.4.2 Application
2.2.4.4.2.1 Australia Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
2.2.4.4.3 Product
2.2.4.4.3.1 Australia Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data
2.2.4.5 Rest-of-Asia-Pacific and Japan
2.2.4.5.1 Market
2.2.4.5.1.1 Buyer Attribute
2.2.4.5.1.2 Key Producers and Suppliers in Rest-of-Asia-Pacific and Japan
2.2.4.5.1.3 Business Drivers
2.2.4.5.1.4 Business Challenges
2.2.4.5.2 Application
2.2.4.5.2.1 Rest-of-Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Application), Value Data
2.2.4.5.3 Product
2.2.4.5.3.1 Rest-of-Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), Value Data

3 Markets - Competitive Benchmarking & Company Profiles

3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Product Matrix for Key Companies, Equipment Type
3.1.3 Market Share Analysis of Key Companies, 2022
3.2 Company Profiles
3.2.1 Ador Powertron Ltd
3.2.1.1 Company Overview
3.2.1.1.1 Role of Ador Powertron Ltd in the Power Supply Equipment Market for Water Electrolysis
3.2.1.1.2 Product Portfolio
3.2.1.1.3 Production Sites
3.2.1.2 Analyst View
3.2.2 TMEIC
3.2.2.1 Company Overview
3.2.2.1.1 Role of TMEIC in the Power Supply Equipment Market for Water Electrolysis
3.2.2.1.2 Product Portfolio
3.2.2.1.3 Production Sites
3.2.2.2 Business Strategies
3.2.2.2.1 Product Developments
3.2.2.3 Analyst View
3.2.3 Statcon Energiaa Pvt. Ltd.
3.2.3.1 Company Overview
3.2.3.1.1 Role of Statcon Energiaa Pvt. Ltd. in the Power Supply Equipment Market for Water Electrolysis
3.2.3.1.2 Product Portfolio
3.2.3.1.3 Production Sites
3.2.3.2 Analyst View
3.2.4 Green Power Co., Ltd.
3.2.4.1 Company Overview
3.2.4.1.1 Role of Green Power Co., Ltd. in the Power Supply Equipment Market for Water Electrolysis
3.2.4.1.2 Product Portfolio
3.2.4.1.3 Production Sites
3.2.4.2 Business Strategies
3.2.4.2.1 Product and Market Developments
3.2.4.3 Analyst View
3.2.5 Liyuan Rectifier Group
3.2.5.1 Company Overview
3.2.5.1.1 Role of Liyuan Rectifier Group in the Power Supply Equipment Market for Water Electrolysis
3.2.5.1.2 Product Portfolio
3.2.5.1.3 Production Sites
3.2.5.1.4 Business Strategies
3.2.5.1.4.1 Product Developments
3.2.5.1.4.2 Market Developments
3.2.5.2 Analyst View

4 Research Methodology

List of Figures

Figure 1: Asia-Pacific Power Supply Equipment Market for Water Electrolysis Snapshot, $Million, 2022, 2023, 2032
Figure 2: Asia-Pacific Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022, 2032
Figure 3: Asia-Pacific Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022, 2032
Figure 4: Power Supply Equipment Market for Water Electrolysis (by Region), $Million, 2022, 2032
Figure 5: Supply Chain Analysis of the Power Supply Equipment Market for Water Electrolysis
Figure 6: Total Addressable Market for Hydrogen & Serviceable Market for Electrolyzer, by 2050
Figure 7: Green Hydrogen Commitment from Nations Worldwide
Figure 8: Onshore Wind Capacity Addition (GW)
Figure 9: Research Methodology
Figure 10: Top-Down and Bottom-Up Approach
Figure 11: Power Supply Equipment Market for Water Electrolysis Influencing Factors
Figure 12: Assumptions and Limitations

List of Tables

Table 1: Consortiums and Associations
Table 2: Regulatory/Certification Bodies
Table 3: Recent and Upcoming Key Green Hydrogen Projects (2020-2024)
Table 4: List of Hydrogen Programs by Some Major Countries
Table 5: Key Product Developments
Table 6: Key Market Developments (2020-2023)
Table 7: Key Mergers and Acquisitions
Table 8: Key Partnerships and Joint Ventures
Table 9: China Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 10: China Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 11: Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 12: Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 13: Japan Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 14: Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 15: South Korea Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 16: South Korea Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 17: India Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 18: India Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 19: Australia Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 20: Australia Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 21: Rest-of-Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Application), $Million, 2022-2032
Table 22: Rest-of-Asia-Pacific and Japan Power Supply Equipment Market for Water Electrolysis (by Equipment Type), $Million, 2022-2032
Table 23: Product Matrix for Key Companies, Equipment Type
Table 24: Market Share of Key Companies Analysis, 2022

Companies Mentioned

Ador Powertron Ltd
TMEIC
Statcon Energiaa Pvt. Ltd.
Green Power Co., Ltd.
Liyuan Rectifier Group

Table Information

Report Attribute	Details
No. of Pages	83
Published	February 2024
Forecast Period	2023 - 2032
Estimated Market Value ( USD ) in 2023	$ 50.5 Million
Forecasted Market Value ( USD ) by 2032	$ 785.6 Million
Compound Annual Growth Rate	35.6%
Regions Covered	Asia Pacific
No. of Companies Mentioned	5

License	Format	Properties	Price
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Market Introduction

Market Segmentation:

Segmentation 1: by Application

Segmentation 2: by Equipment Type

Segmentation 3: by Country

How can this report add value to an organization?

Key Market Players and Competition Synopsis

Table of Contents

Companies Mentioned

Table Information

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