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Report Scope & Overview:

The Water as a Fuel Market size was valued at USD 4.2 billion in 2022 and is expected to grow to USD 10.44 billion by 2030 and grow at a CAGR of 12.4 % over the forecast period of 2023-2030.

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. 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.

Water as a Fuel Market

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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.

MARKET DYNAMICS

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 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 ANALYSIS

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.

MARKET SEGMENTATION

By Fuel Type

  • Hydrogen

  • Oxyhydrogen

By Technology

  • Electrolysis

  • Natural Gas Reforming

Water as a Fuel Market

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 REGIONAL ANALYSIS

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.

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

KEY PLAYERS

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.

Iberdrola S.A-Company Financial Analysis

RECENT DEVELOPMENT

  • 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.

Water as a Fuel market report scope:
Report Attributes Details
Market Size in 2022  US$ 4.2 Bn
Market Size by 2030  US$ 10.44 Bn
CAGR   CAGR of 12.4 % From 2023 to 2030
Base Year 2022
Forecast Period  2023-2030
Historical Data  2020-2021
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 environment concern
• Growing demand for hydrogen fuel
Market Restraints • High cost
• Lack of infra structure

 

Frequently Asked Questions

Ans: Water as a Fuel Market is anticipated to expand by 12.4 % from 2023 to 2030.

Ans:  USD 10.44 billion is expected to grow by 2030.

Ans: Water as a Fuel Market size was valued at USD 4.2 billion in 2022

Ans: China is dominating the market.

Ans: Rising greenhouse gas emission and Advancement in clean energy

TABLE OF CONTENT

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 Bench marking
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

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Secondary Research

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Primary Research

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Data Bank Validation

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