Artificial Photosynthesis Market Growing with Healthy CAGR by 2030

 According to the new market research report "Artificial Photosynthesis Market by Application (Hydrocarbon, Hydrogen, Chemicals), Technology (Co-Electrolysis, Photo-Electro Catalysis, Nanotechnology, Hybrid Process), Region (North America, APAC, Europe, Rest of World) - Global Forecast to 2030", published by MarketsandMarkets™, the Artificial Photosynthesis Market size will grow to USD 185 Million by 2030 from USD 62 Million in 2022, at a CAGR of 14.6% during the forecast period.

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The global Artificial Photosynthesis Market is driven by the Government fundings and grants for the research and development of artificial photosynthesis technology; global plans for net zero emissions. Growing demand of green H2 and eco-friendly liquid fuels are expected to offer lucrative opportunities for the Artificial Photosynthesis Market during the forecast period. Asia Pacific is expected to hold the largest share of global Artificial Photosynthesis Market between 2022–2030. The region has been segmented, by country, into Japan, China, India, and South Korea. The region faces a tough challenge to reduce its carbon footprint from various fossil-fuel-powered operations, including power generation. Asia Pacific is one of the leading markets that has adopted green technologies to meet the targets set by the governments for reducing greenhouse gas emissions. Furthermore, countries such as Japan and South Korea are increasing their investments in innovative energy & fuel generation technologies, such as fuel cells, carbon recycling, and others.

 

Asia Pacific is expected to hold the largest share of global Artificial Photosynthesis Market, during the forecast period

Asia Pacific accounted for a 48.3% share of the Artificial Photosynthesis Market in 2021 and is expected to growth with a CAGR of 15.0% in the forecast period. The region has been segmented, by country, into Japan, China, India, and South Korea. The region faces a tough challenge to reduce its carbon footprint from various fossil-fuel-powered operations, including power generation. Asia Pacific is one of the leading markets that has adopted green technologies to meet the targets set by the governments for reducing greenhouse gas emissions. Furthermore, countries such as Japan and South Korea are increasing their investments in innovative energy & fuel generation technologies, such as fuel cells, carbon recycling, and others

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68 – Tables
22 – Figures 
108 – Pages

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North America is expected to be the fastest growing region of global Artificial Photosynthesis Market, during the forecast period

North America accounted for a 34.9% share of the Artificial Photosynthesis Market in 2021 and is expected to witness a CAGR of 15.8% during the forecast period. The regional market is driven by the presence of supportive policies and incentives in the US for sustainable development projects. The rise in demand for uninterrupted power supply in the region will also boost the market growth during the forecast period. This has encouraged the use of clean fuels, such as hydrogen, for various energy requirements. For instance, in the US, the Hydrogen and Fuel Cell Technical Advisory Committee (HTAC) was established under Section 807 of the Energy Policy Act of 2005 to provide technical and programmatic advice to the Energy Secretary on the Department of Energy's (DOE) hydrogen research. The availability of research grants from the US Department of Energy (DOE) has fueled research activities for an energy-efficient system in the country, this is expected to drive the research activities related to artificial photosynthesis in the region

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top manufacturers in the Artificial Photosynthesis Market. These players include Panasonic Corporation (Japan), FUJITSU (Japan), and ENGIE (France).

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Power Grid System Market in Subsea is Projected to Reach $14.8 billion in 2027

 According to the new market research report "Power Grid System Market in Subsea by Component (Cables, Variable Speed Drives, Transformers, Switchgears), Application (Captive Generation, Wind Power), Depth (Shallow Water and Deepwater) and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Power Grid System Market in Subsea is expected to grow from an estimated USD 9.1 billion in 2022 to USD 14.8 billion in 2027, at a CAGR of 10.2% during the forecast period. Power grid systems in subsea play an important role in the offshore power supply network. Subsea power grid comprise of several components such as cables, transformers, variable speed drives, switchgears, and others used for various applications. The subsea power grid system is gaining traction as oilfield operators are moving toward deep and ultra-deepwater levels for exploring oil and gas reserves. Moreover, offshore wind power is also one of the prominent applications for subsea power grid systems. Favorable government policies for offshore renewable power production, especially using wind energy along with urgent need to reduce carbon emissions and improve grid reliability and efficiency is expected to drive the demand for subsea power grid systems.

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The cables segment, by component, is expected to be the most significant Power Grid System Market in Subsea during the forecast period

The Power Grid System Market in Subsea, on the basis of component, has been segmented into cables, transformers, switchgears, variable speed drives, and others. The others segment includes connectors, actuators, sensors, and penetrators. The cables segment, by component, is expected to dominate the Power Grid System Market in Subsea during the forecast period. The adoption of subsea power cables has been mainly driven by the HV power transmission and offshore oil & gas industries. Subsea power cables are widely used to link shore-based power grids. These cables carry power from one country to another, as well as from one offshore platform to another, and transfer power from offshore renewable energy generation plants, which use wind, wave, and tidal energy to generate electricity; regional electrical transmission networks; etc.

The captive generation segment, by application, is expected to be the largest Power Grid System Market in Subsea during the forecast period

The Power Grid System Market in Subsea, by application, has been broadly classified into wind power, captive generation, and Others. The others segment includes solar power, tidal power and diesel & gas based floating power plants. The captive generation segment held the largest market in 2021. The subsea power grid supplies and distributes power to various components. Subsea power grid systems enable long-distance subsea tie-back developments for energy-intensive oil & gas processing activities on the seafloor. The demand for subsea power grid systems is continuously increasing in captive generation applications owing to the rising number of subsea operations, growing use of satellite wells for subsea field developments, and an increasing number of deepwater drilling activities.

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47 – Figures  
214 – Pages

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The deepwater segment, by end user, is expected to witness the highest CAGR during the forecast period

The Power Grid System Market in Subsea, by depth, has been segmented into shallow water and deepwater. The deepwater segment of the Power Grid System Market in Subsea, by depth, is expected to witness the highest CAGR during the forecast period. The depletion of shallow water reserves (maturing shallow water basins) has made E&P companies shift their focus on deepwater areas. Deepwater activities would continue to be a key avenue for oil production and, thus, it would generate substantial demand for Power Grid System Market in Subsea.

 

Europe is expected to dominate the global Power Grid System Market in Subsea during the forecast period

In this report, the Power Grid System Market in Subsea has been analyzed for 5 regions, namely Asia Pacific, North America, Europe, Middle East & Africa, South America. Europe is estimated to be the largest market for power grid systems in subsea during the forecast period. Countries such as Norway, the UK, and the Netherlands are witnessing heightened construction of offshore wind farms due to stringent energy efficiency mandates, and the strong focus of most European countries on utilizing renewable energy sources for power generation propels European market growth.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Power Grid System Market in Subsea. These include ABB (Switzerland), General Electric (US), Siemens Energy (Germany), Prysmian Group (Italy), Nexans (France), TechnipFMC (UK), and Baker Hughes (US). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Hydrogen Generation Market to Be Expected to Expand at a Steady CAGR Through 2025

According to the latest research report “Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region – Forecast to 2025″ The hydrogen generation market size is projected to reach USD 201 billion by 2025 from an estimated USD 130 billion in 2020, at a CAGR of 9.2% during the forecast period. Increasing fuel cell power generation application is driving the growth of the market. Moreover, increasing adoption of electric vehicles leads to renewable energy deployment at large scale in Asia Pacific region, creates opportunities for hydrogen generation market.

Key Market Players:

A few major players that have a wide regional presence dominate the hydrogen generation market. The leading players in the hydrogen generation market include Linde (Germany), Air Products & Chemicals (US), Air Liquide (France), Uniper (Germany), and Engie (France).

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The electrolysis technology segment is expected to grow at the highest CAGR from 2020 to 2025.

The increasing use of fuel cells in power generation and transportation is likely to drive the market for electrolysis. Through electrolysis, the electrolyzer system creates hydrogen gas. The oxygen that is left over is released into the atmosphere or can be captured or stored. This stored hydrogen can be supplied for other industrial processes or even used for medical gases in some cases. The hydrogen gas can either be stored as a compressed gas or liquefied, and since hydrogen is an energy carrier, it can be used to power any hydrogen fuel cell electric application — including trains, buses, trucks, or data centers. Measures have been taken by governments to boost the demand for water electrolysis. For instance, the US Department of Energy (DOE) has set technical targets and cost contributions for hydrogen production from water electrolysis.  

The transportation application segment is expected to grow at the highest CAGR in the hydrogen generation industry during the forecast period.

Rapid rise in demand for Fuel Cell Electric Vehicle (FCEV) in Asia Pacific region is likely to drive the market for hydrogen generation in the coming years. Hydrogen finds its application in various modes of transportation, such as buses, trains, fuel cell electric vehicles (FCEV), and others (including marine, airplane, and drones). FCEVs are powered by hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no tailpipe emissions; they only emit water vapor and warm air. Fuel cell vehicles use hydrogen to power the electric motor by combining hydrogen and oxygen (from the air) to produce electricity, which runs the motor. This process of converting hydrogen gas into electricity produces only water and heat as byproducts, thus eliminating harmful gaseous emissions. It is expected that fuel cell cars and trucks can reduce emissions by over 30% compared with their gasoline-powered counterparts. Refueling a fuel cell electric vehicle takes less than 10 minutes. Therefore, FCEV vehicles are expected to increase the demand for hydrogen.

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The blue hydrogen is expected to grow at the highest CAGR during the forecast period.

Blue hydrogen is derived from natural gas through steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction creates hydrogen and carbon monoxide. Additional water is added to the mixture, converting the carbon monoxide to carbon dioxide and creating more hydrogen. The carbon dioxide emissions produced are then captured and stored underground using the carbon capture, utilization, and storage (CCUS) technology, leaving nearly pure hydrogen. The cost of generating blue hydrogen is low. However, hydrogen also presents challenges when moved in large quantities, as it is light in weight. Alberta is aiming to export blue hydrogen globally by 2040. For instance, in October 2020, Alberta’s government announced a hydrogen strategy focused on carbon emissions to be competitive amid the global transition to sustainable energy. The strategy identifies the opportunity of using Albertas natural gas resources and its experience with carbon capture and storage (CCS) to produce low-emission blue hydrogen for local use or export to other domestic and international markets. Therefore, increasing demand for capturing and reusing carbon emissions drive the blue hydrogen segment.

The merchant generation & delivery mode segment is expected to grow at the highest CAGR in the hydrogen generation industry during the forecast period.

Increasing large scale hydrogen production through water electrolysis and natural gas process is expected to drive the merchant segment. Merchant hydrogen can be produced by both water electrolysis and natural gas processes. This method reduces the need for transportation of fuel and, subsequently, the need for construction of new hydrogen generation infrastructure. However, its limited production capacity leads to higher hydrogen costs compared with captive hydrogen generation. Small-scale reformers and existing natural gas pipelines are generally employed by merchant hydrogen producers to supply hydrogen to customers on-site. Hydrogen is generated at offsite refineries and refueling stations using either natural gas or water and electricity. The electrolyzers used for merchant hydrogen generation produce pure oxygen as a by-product along with hydrogen. This oxygen is used to enrich the content of greenhouse gases for food production.

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Asia Pacific likely to emerge as the largest hydrogen generation market

In this report, the hydrogen generation market has been analyzed for four regions, namely, Europe, Asia Pacific, North America, South America, Middle East and Africa. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. Japan and South Korea are heavily investing in fuel cell adoption since 2009 because of the commercial deployment of Japanese fuel cell micro-CHP products. Japan is the first nation to commercialize fuel cells and is supporting the projects related to the use of fuel cells in residential and automotive applications. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.  Singapore, India, and Malaysia are also showing interest and have just started or are expected to start exclusive programs to promote fuel cells in regional markets. These countries are initially focusing on backup power (stationary application) fuel cells.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the hydrogen generation market. The major players in the hydrogen generation industry are) Linde (Germany), Air Liquide (France ), Air Products & Chemicals (US), Uniper (Germany), and Engie (France). These players are adopting various strategies to increase their share in the hydrogen generation market. Joint ventures, collaborations & partnerships contracts & agreements, investments and expansions and acquisitions have been a widely adopted strategy by the major players in the hydrogen generation industry.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com