The Water as a Fuel Market size was valued at USD 4.72 billion in 2023 and is expected to grow to USD 12.24 billion by 2031 and grow at a CAGR of 12.6 % over the forecast period of 2024-2031.
Hydrogen is completely oxidized in water. Although hydrogen is a highly energetic and combustible gas by itself, the formation of water releases some of hydrogen's useful energy. Water won't hurt you. Water can be electrolyzed into hydrogen and oxygen, however the energy required to break up a water molecule is equal to the energy generated during the oxidation of the hydrogen to form water.
Get More Information on Water as a Fuel Market - Request Sample Report
Since waste heat is constantly generated during conversions, some energy would actually be lost throughout the process of turning water into hydrogen and burning that hydrogen. releasing too much chemical energy from water. Unfortunately, using water to power automobiles is only a fantasy. We all know that water cannot "burn" like conventional (fossil) fuels, but chemistry is the only force that can destroy all prospect of obtaining energy from it in any other way. Three atoms make up a water molecule: two hydrogen atoms and one oxygen atom, which bind to one another magnetically. Imagine you wanted to construct this automobile. To separate the oxygen and hydrogen from a water molecule, special equipment is required.
Then, each of them would need to be isolated in different tanks. A combustion device that could combine and ignite them or a fuel cell that could recombine them to produce power would then be required. The car may then be moved by using the energy that was released to power a motor or a piston.
A car that is "water-fuelled" is one that, in theory, gets all of its power from water. Numerous worldwide patents, newspaper and popular scientific magazine articles, local television news coverage, and websites have all discussed water-fuelled automobiles. These gadgets' claims have been debunked as pseudoscience, and some of them have even been linked to investment scams. Some say that these vehicles can create gasoline from water on board without the use of external energy or it might be a hybrid that claims to get some of its energy from water in addition to a conventional source (like gasoline) on board with no further energy input.
KEY DRIVERS:
Increasing demand for sustainable fuel
Rising concern about environment concern
Growing demand for hydrogen fuel Cell
Worldwide demand for hydrogen fuel is rising. It can be created by electrolyzing water, which separates water molecules into hydrogen and oxygen atoms. Next, the hydrogen gas is compressed and kept in storage for use as fuel in tanks.
RESTRAIN:
High cost
Lack of infra structure
The high expense of water as a fuel, however, and the industrial process's comparatively greater energy requirement Limit the market expansion of water as a fuel when compared to other fuels. Since hydrogen is extremely combustible and volatile, substantial safety precautions must be taken.
OPPORTUNITY:
Rising green house gas emission
Advancement in clean energy
CHALLENGES:
Modernization of Renewable Energy
Growing Need for Energy Security
Modernization of Clean Energy and Growing Need for Energy Security Finding alternate sources of energy is becoming more popular as people become more conscious of the damaging impact that fossil fuels have on the environment and the erratic nature of oil prices. One of the most promising processes for using water as fuel is water splitting. Water is split into its constituent elements using this technique by means of an electrical current, hydrogen and oxygen. The hydrogen can then be used to generate electricity in a fuel cell or in a combustion engine. By powering water splitting using renewable energy, we can develop a fossil-fuel-free energy source that is carbon-neutral.
IMPACT OF ONGOING RECESSION
Hydrogen is a potential fuel derived from water through processes like electrolysis, where electricity is used to split water molecules into hydrogen and oxygen. Hydrogen is a clean and abundant energy carrier, but its large-scale implementation faces several obstacles, such as high production costs, storage difficulties, and limited infrastructure for distribution and refuelling. If a recession has occurred since my last update and is still ongoing in 2023, it might have implications for research and development efforts related to hydrogen as a fuel source. Economic downturns can lead to reduced funding for innovative projects, including those exploring alternative energy sources like hydrogen.
By Fuel Type
Hydrogen
Oxyhydrogen
By Technology
Electrolysis
Natural Gas Reforming
During the projection period, Asia-Pacific is anticipated to grow more rapidly than other regions. Since there are many electric car users in Asia-Pacific, there is a high need for hydrogen fuel cells. Being both the greatest producer and consumer of hydrogen, China controlled the global market. Every year, China uses over 24 million tons of hydrogen.
The water fuel market share was dominated by North America in 2022. This is explained by an increase in the area's on-site electrolyser application activity. The need for water as a fuel is fuelled by the existence of large firms that create hydrogen with significant uses in the automotive and industrial sectors.
Get Customised Report as per Your Business Requirement - Enquire Now
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The Major Players are Enel Green Power Spa, Iberdrola S.A., China Petroleum & Chemical Corporation, Linde plc, Air Liquide, ExxonMobil, Plug Power Inc., FuelCell Energy Inc, Panasonic, Orsted A/S and other players are listed in a final report.
Ballard Power Systems and First Mode announced in March 2023 that Ballard would provide First Mode with 30 hydrogen fuel cell modules, each generating 3 megawatts of power, for diesel-free mining vehicles. This is almost the same as 4,000 horsepower.
The debut of a pure hydrogen fuel cell generator, which produces power (5 kW) through a chemical reaction with highly pure hydrogen and oxygen, was announced by Panasonic Corporation in October 2021.
In November 2022, the global renewables division of Enel, Enel Green Power S.p.A. (EGP), and Australian renewable energy developer Fortescue Future Industries (FFI), both announced that they would collaborate to explore the co-development of the green hydrogen value chain, initially with a focus on Australia and Latin America. The alliance will aid FFI and EGP in achieving their objectives to promote energy security and diversify future energy supplies as well as to aid the global effort to reduce emissions and combat climate change.
| Report Attributes | Details |
| Market Size in 2023 | US$ 4.72 Bn |
| Market Size by 2031 | US$ 12.24 Bn |
| CAGR | CAGR of 12.6 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Fuel Type (Hydrogen, Oxyhydrogen) • By Technology (Electrolysis, Natural Gas Reforming) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Enel Green Power Spa, Iberdrola S.A., China Petroleum & Chemical Corporation, Linde plc, Air Liquide, ExxonMobil, Plug Power Inc., FuelCell Energy Inc, Panasonic, Orsted A/S |
| Key Drivers | • Increasing demand for sustainable fuel • Rising concern about environmental concern • Growing demand for hydrogen fuel |
| Market Restraints | • High cost • Lack of infrastructure |
Ans: Water as a Fuel Market is anticipated to expand by 12.6 % from 2024 to 2031.
Ans: USD 12.24 billion is expected to grow by 2031.
Ans: Water as a Fuel Market size was valued at USD 4.72 billion in 2023
Ans: China is dominating the market.
Ans: Rising greenhouse gas emission and Advancement in clean energy
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Water as a Fuel Market Segmentation, By Fuel Type
8.1 Hydrogen
8.2 Oxyhydrogen
9. Water as a Fuel Market Segmentation, By Technology
9.1 Electrolysis
9.2 Natural Gas Reforming
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Water as a Fuel Market by Country
10.2.2North America Water as a Fuel Market by Fuel Type
10.2.3 North America Water as a Fuel Market by Technology
10.2.4 USA
10.2.4.1 USA Water as a Fuel Market by Fuel Type
10.2.4.2 USA Water as a Fuel Market by Technology
10.2.5 Canada
10.2.5.1 Canada Water as a Fuel Market by Fuel Type
10.2.5.2 Canada Water as a Fuel Market by Technology
10.2.6 Mexico
10.2.6.1 Mexico Water as a Fuel Market by Fuel Type
10.2.6.2 Mexico Water as a Fuel Market by Technology
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Water as a Fuel Market by Country
10.3.1.2 Eastern Europe Water as a Fuel Market by Fuel Type
10.3.1.3 Eastern Europe Water as a Fuel Market by Technology
10.3.1.4 Poland
10.3.1.4.1 Poland Water as a Fuel Market by Fuel Type
10.3.1.4.2 Poland Water as a Fuel Market by Technology
10.3.1.5 Romania
10.3.1.5.1 Romania Water as a Fuel Market by Fuel Type
10.3.1.5.2 Romania Water as a Fuel Market by Technology
10.3.1.6 Hungary
10.3.1.6.1 Hungary Water as a Fuel Market by Fuel Type
10.3.1.6.2 Hungary Water as a Fuel Market by Technology
10.3.1.7 Turkey
10.3.1.7.1 Turkey Water as a Fuel Market by Fuel Type
10.3.1.7.2 Turkey Water as a Fuel Market by Technology
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Water as a Fuel Market by Fuel Type
10.3.1.8.2 Rest of Eastern Europe Water as a Fuel Market by Technology
10.3.2 Western Europe
10.3.2.1 Western Europe Water as a Fuel Market by Country
10.3.2.2 Western Europe Water as a Fuel Market by Fuel Type
10.3.2.3 Western Europe Water as a Fuel Market by Technology
10.3.2.4 Germany
10.3.2.4.1 Germany Water as a Fuel Market by Fuel Type
10.3.2.4.2 Germany Water as a Fuel Market by Technology
10.3.2.5 France
10.3.2.5.1 France Water as a Fuel Market by Fuel Type
10.3.2.5.2 France Water as a Fuel Market by Technology
10.3.2.6 UK
10.3.2.6.1 UK Water as a Fuel Market by Fuel Type
10.3.2.6.2 UK Water as a Fuel Market by Technology
10.3.2.7 Italy
10.3.2.7.1 Italy Water as a Fuel Market by Fuel Type
10.3.2.7.2 Italy Water as a Fuel Market by Technology
10.3.2.8 Spain
10.3.2.8.1 Spain Water as a Fuel Market by Fuel Type
10.3.2.8.2 Spain Water as a Fuel Market by Technology
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Water as a Fuel Market by Fuel Type
10.3.2.9.2 Netherlands Water as a Fuel Market by Technology
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Water as a Fuel Market by Fuel Type
10.3.2.10.2 Switzerland Water as a Fuel Market by Technology
10.3.2.11 Austria
10.3.2.11.1 Austria Water as a Fuel Market by Fuel Type
10.3.2.11.2 Austria Water as a Fuel Market by Technology
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Water as a Fuel Market by Fuel Type
10.3.2.12.2 Rest of Western Europe Water as a Fuel Market by Technology
10.4 Asia-Pacific
10.4.1 Asia Pacific Water as a Fuel Market by Country
10.4.2 Asia Pacific Water as a Fuel Market by Fuel Type
10.4.3 Asia Pacific Water as a Fuel Market by Technology
10.4.4 China
10.4.4.1 China Water as a Fuel Market by Fuel Type
10.4.4.2 China Water as a Fuel Market by Technology
10.4.5 India
10.4.5.1 India Water as a Fuel Market by Fuel Type
10.4.5.2 India Water as a Fuel Market by Technology
10.4.6 Japan
10.4.6.1 Japan Water as a Fuel Market by Fuel Type
10.4.6.2 Japan Water as a Fuel Market by Technology
10.4.7 South Korea
10.4.7.1 South Korea Water as a Fuel Market by Fuel Type
10.4.7.2 South Korea Water as a Fuel Market by Technology
10.4.8 Vietnam
10.4.8.1 Vietnam Water as a Fuel Market by Fuel Type
10.4.8.2 Vietnam Water as a Fuel Market by Technology
10.4.9 Singapore
10.4.9.1 Singapore Water as a Fuel Market by Fuel Type
10.4.9.2 Singapore Water as a Fuel Market by Technology
10.4.10 Australia
10.4.10.1 Australia Water as a Fuel Market by Fuel Type
10.4.10.2 Australia Water as a Fuel Market by Technology
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Water as a Fuel Market by Fuel Type
10.4.11.2 Rest of Asia-Pacific Water as a Fuel Market by Technology
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Water as a Fuel Market by Country
10.5.1.2 Middle East Water as a Fuel Market by Fuel Type
10.5.1.3 Middle East Water as a Fuel Market by Technology
10.5.1.4 UAE
10.5.1.4.1 UAE Water as a Fuel Market by Fuel Type
10.5.1.4.2 UAE Water as a Fuel Market by Technology
10.5.1.5 Egypt
10.5.1.5.1 Egypt Water as a Fuel Market by Fuel Type
10.5.1.5.2 Egypt Water as a Fuel Market by Technology
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Water as a Fuel Market by Fuel Type
10.5.1.6.2 Saudi Arabia Water as a Fuel Market by Technology
10.5.1.7 Qatar
10.5.1.7.1 Qatar Water as a Fuel Market by Fuel Type
10.5.1.7.2 Qatar Water as a Fuel Market by Technology
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Water as a Fuel Market by Fuel Type
10.5.1.8.2 Rest of Middle East Water as a Fuel Market by Technology
10.5.2 Africa
10.5.2.1 Africa Water as a Fuel Market by Country
10.5.2.2 Africa Water as a Fuel Market by Fuel Type
10.5.2.3 Africa Water as a Fuel Market by Technology
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Water as a Fuel Market by Fuel Type
10.5.2.4.2 Nigeria Water as a Fuel Market by Technology
10.5.2.5 South Africa
10.5.2.5.1 South Africa Water as a Fuel Market by Fuel Type
10.5.2.5.2 South Africa Water as a Fuel Market by Technology
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Water as a Fuel Market by Fuel Type
10.5.2.6.2 Rest of Africa Water as a Fuel Market by Technology
10.6 Latin America
10.6.1 Latin America Water as a Fuel Market by Country
10.6.2 Latin America Water as a Fuel Market by Fuel Type
10.6.3 Latin America Water as a Fuel Market by Technology
10.6.4 Brazil
10.6.4.1 Brazil Water as a Fuel Market by Fuel Type
10.6.4.2 Brazil Africa Water as a Fuel Market by Technology
10.6.5 Argentina
10.6.5.1 Argentina Water as a Fuel Market by Fuel Type
10.6.5.2 Argentina Water as a Fuel Market by Technology
10.6.6 Colombia
10.6.6.1 Colombia Water as a Fuel Market by Fuel Type
10.6.6.2 Colombia Water as a Fuel Market by Technology
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Water as a Fuel Market by Fuel Type
10.6.7.2 Rest of Latin America Water as a Fuel Market by Technology
11 Company Profile
11.1 Enel Green Power Spa
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Iberdrola S.A.
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 China Petroleum & Chemical Corporation
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Linde plc
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Air Liquide
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 ExxonMobil
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Plug Power Inc.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 FuelCell Energy Inc.
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Panasonic
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Orsted A/S
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Biomass Gasification Market size was valued at USD 31.58 Million in 2023 and is expected to grow to USD 64.33 Million by 2031 and grow at a CAGR of 9.3% over the forecast period of 2024-2031.
The Waste Heat Recovery System Market Size was valued at USD 76.4 billion in 2023 and is expected to reach USD 136.3 billion by 2031 and grow at a CAGR of 7.5 % over the forecast period 2024-2031.
The Hydrogen Fuel Cells Market Size was USD 5.0 billion in 2023 and is expected to grow to USD 34.65 billion by 2032 & grow at a CAGR of 24.0% by 2024-2032.
The Grid-Scale Battery Market size was valued at USD 9.58 billion in 2023 and is projected to reach USD 57.81 billion by 2032 With a Growing CAGR of 22.1% over the forecast period of 2024-2032.
The Industrial Separator Market size was USD 11.39 billion in 2023 and is expected to reach USD 27.30 billion by 2032, growing at a CAGR of 10.2% over the forecast period of 2024-2032.
The Electrolytic Manganese Dioxide Market size was valued at USD 1.58 billion in 2023 and is expected to grow to USD 2.81 billion by 2031 and grow at a CAGR of 7.4 % over the forecast period of 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
