Author: Himanshu Patni
21 November 2022
The Global Artificial Photosynthesis Market is expected to grow at a CAGR of more than 13% during the period 2021-2027. Artificial photosynthesis is a technology that replicates the natural photosynthesis process to create clean energy. This process, unlike the natural process, does not stress producing carbohydrates but uses these elements for electricity generation. This process assures electricity generation without any harm to the environment. Factors such as the growing need for clean energy around the globe due to the depletion of non-renewable resources may trigger the growth prospects of artificial photosynthesis.
Moreover, the increasing encouragement by government bodies to promote the use of clean energy may also help in boosting the growth prospects of the artificial photosynthesis market. Furthermore, governments across the globe are planning for net-zero emissions coupled with soaring demand of green H2 and eco-friendly liquid fuels are expected to offer lucrative opportunities for the artificial photosynthesis market during the forecast period.
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Based on technology, the artificial photosynthesis market is classified into co2-electrolysis, photo-electron catalysis, and others. The Co2 electrolysis segment caters to extensive market share in the artificial photosynthesis market. In order to establish optimized systems for carbon recycling in the artificial photosynthesis process high-efficiency photovoltaic and CO2 electrolysis are combined together to get high productivity.
Based on application, the artificial photosynthesis market is segmented into hydrocarbons, hydrogen, and chemicals. The hydrogen segment acquired a considerable market share in the artificial photosynthesis market. It is one of the promising technologies to produce liquid fuels in a sustainable manner and replicate the natural process of photosynthesis, converting sunlight, water, and CO2 into carbohydrates and/or hydrogen with oxygen as a byproduct.
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For a better understanding of the market adoption of the Artificial Photosynthesis industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, UK, Spain, Italy, France, Rest of Europe); Asia Pacific (China, India, Australia, Japan, Rest of APAC); Rest of the World. The 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.
Some of the major players operating in the Artificial Photosynthesis market include Panasonic Corporation, ENGIE, TOSHIBA CORPORATION, Siemens Energy, FUJITSU, Evonik Industries AG, FUJIFILM Corporation, Toyota Central R&D Labs., Inc, Mitsubishi Chemical Corporation, Weatherford.
Global Artificial Photosynthesis Market Segmentation
Market Insight, by Technology
Market Insight, by Application
Market Insight, by Region
Top Company Profiles
• Panasonic Corporation
• ENGIE• TOSHIBA CORPORATION• Siemens Energy• FUJITSU• Evonik Industries AG• FUJIFILM Corporation• Toyota Central R&D Labs., Inc• Mitsubishi Chemical Corporation• Weatherford
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