Surging Government Investments in Sustainable Source of Energy Boosts Water Electrolysis Machine Market: Fact MR newjerseytelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newjerseytelegraph.com Daily Mail and Mail on Sunday newspapers.
Water Electrolysis Machine Market Driven By Growing Sustainability Initiatives: FMI Report
The global water electrolysis machine market has been impacted marginally by the coronavirus pandemic. As per a new report and ESOMAR certified market research and consulting firm, the industry surpassed US$ 10.6B in 2019 and is estimated to reflect a healthy 7.6% CAGR through 2030. Innovations in crude oil processing applications will support developments in the market.
Despite the steady rise of the water electrolysis machine market, prohibitive capital costs and high levels of electricity consumption restrain market growth.
Key Takeaways from Water Electrolysis Machine Market
The size of the water electrolysis machines market is estimated to surpass US$ 10.2 Bn by the end of 2020, with renewable energy and chemical applications being the driving factors behind the industry.