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.

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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The market is segmented, by technology, into co-electrolysis, Photo-electro catalysis, and others (nanotechnology and hybrid processes).

 The market is segmented, by application, into Hydrogen, Hydrocarbon and Chemicals.

The artificial photosynthesis market is segmented, by region, into North America, Europe, Asia-Pacific, and Rest of the world.

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. 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.

Panasonic Corporation is a global leader in the development of diverse electronics technologies and solutions. It is the largest electronic manufacturer in the world with 634 companies under it. Panasonic offers a wide range of products and services, including rechargeable batteries, automotive and avionics systems, industrial systems, as well as home renovation and construction.

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ENGIE is a global leader that operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy, and petroleum. ENGIE operates on a matrix structure with primary axis as business units and secondary axis as business lines. Business lines include six core activities, namely Client Solutions, Networks, Renewables, Thermal, Supply, and Nuclear.

Report Objectives

• To define, describe and forecast the global artificial photosynthesis market by technology, application, and regions
• To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and industry-specific challenges, influencing the growth of the artificial photosynthesis market
• To strategically analyze the artificial photosynthesis market with respect to individual growth trends, future prospects, and the contribution of each segment to the market
• To strategically profile key players and comprehensively analyze their market shares and core competencies
• To track and analyze competitive developments such as contracts & agreements, expansions, mergers & acquisitions, and partnerships & collaborations in the artificial photosynthesis market