Companies operating in this market also focus on investments to increase their market shares and expand their geographic presence. collaborations, and partnerships were the most commonly adopted strategy from January 2012 to February 2022.
According to a new market research report, 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. 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.
Download PDF Brochure at www.marketsandmarkets.com/pdfdown…d=94334557
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.
Collaboration and partnerships are among the key growth strategies adopted by leading companies, including Panasonic Corporation (Japan), FUJITSU (Japan), and ENGIE (France) to boost their position in the artificial photosynthesis market.
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.
www.marketsandmarkets.com/request…d=94334557
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.
News From
MarketsandMarkets™ Category: Market Research Publishers and Retailers Profile: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, w ...
