The demand for PEM electrolyzers is anticipated to grow with the increasing demand from the end-use industries such as ammonia production, refining industry, power and energy storage, transportation, methanol production, and others. Furthermore, it is anticipated that during the projected period 2022-2031, the increasing adoption of PEM electrolyzers in generating green hydrogen and the investment from the government and private sector companies toward renewable energy is expected to further fuel the advancement of the global PEM electrolyzer market. However, the lack of hydrogen infrastructures, such as hydrogen storage and hydrogen transportation, is anticipated to hinder market growth in the upcoming future.
Market Lifecycle Stage
The global PEM electrolyzer market is in the growth phase. Rising sales of fuel cell vehicles and increasing focus on decarbonization and controlling greenhouse emissions are expected to boost market growth. Furthermore, due to high demand from the end-user industries and rising government regulations related to controlling GHG emissions are expected to increase the demand for eco-sustainable fuels, thereby bolstering the global PEM electrolyzer market. Moreover, the global PEM electrolyzer market is expected to benefit from the growing demand for green hydrogen, which would promote market expansion. The requirement for PEM electrolyzers is being stimulated by fuel cell electric vehicles as well.
Industrial Impact
• Growing demand for hydrogen and green hydrogen is the main driving force behind the growing interest in the PEM electrolyzer market. As a result, these materials are getting prominence in a variety of industries, including transportation, refining industry, and power and energy storage, among others. One area where implementation has been significantly greater is ammonia production, which has created opportunities for both existing market participants and market entrants.
• Furthermore, PEM electrolyzers have a moderate to high impact on end-user industries; however, in the upcoming future, with increased production of ammonia, electric vehicles, and other applications, the impact is anticipated to increase.
Impact of COVID-19
The PEM electrolyzer market was affected positively by COVID-19 as an investment in renewable energy surged to record heights and sales of fuel cell vehicles increased. The sales of fuel cell vehicles (FCVs) reduced significantly in 2020, with only 937 vehicles sold in the U.S., according to the California Fuel Cell Partnership. However, the sales rebounded spectacularly in 2021, with an increase of 257% year-over-year and a record 3,341 fuel cell vehicles sold. The PEM electrolyzer market was among the few markets that were positively affected by COVID-19, and the market has since continued its growth. The demand for green hydrogen is growing day by day, and with rising sales of fuel cell vehicles and a growing emphasis on decarbonization and sustainability, the demand for PEM electrolyzers is expected to keep on growing in the coming years.
Recent Developments in the Global PEM Electrolyzer Market
• In March 2022, Elogen received an order of 1 MW proton exchange membrane (PEM) electrolyzer from Communauté d’Agglomération Pau Béarn Pyrénées. Elogen would design and produce this PEM electrolyzer and would deliver it in the first half of 2023 to the Lescar wastewater treatment site.
• In April 2022, Ohmium received an investment of around $45 million from one of its investors, Fenice Investment Group. The fund is expected to support the growth of the company and help it to increase the hydrogen manufacturing capacity from 500 MW to 2 GW annually by the end of 2022.
• In July 2022, Plug Power Inc. signed a contract with an international energy company, Irving Oil, to supply a 5-megawatt (MW) containerized proton exchange membrane (PEM) electrolyzer system for the production and distribution of hydrogen at its Saint John, New Brunswick refinery in Canada.
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How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different material types involved in the production of PEM electrolyzers. Moreover, the study provides the reader with a detailed understanding of the global PEM electrolyzer market based on the end user (refining industry, ammonia production, methanol production, power and energy storage, transportation, and others). PEM electrolyzers are gaining traction in end-user industries on the back of sustainability concerns and their high-power density properties. They are also being used for controlling GHG emissions.
Growth/Marketing Strategy: The global PEM electrolyzer market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the global PEM electrolyzer market. For instance, in May 2022, Ohmium signed a collaboration agreement with Politecnico di Torino University in Turin, Italy. Ohmium is focused on developing next-generation catalyst materials used in PEM electrolysis, and the collaboration is expected to help the company determine the requirements for future projects.
Competitive Strategy: Key players in the global PEM electrolyzer market analyzed and profiled in the study involve PEM electrolyzer manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the global PEM electrolyzer market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive
Analyst View
According to Sachin Singh, Lead Analyst, BIS Research, “PEM electrolysis has gained growth in recent years due to a growing emphasis on environmentally friendly and low-carbon technology. PEM electrolysis is gaining popularity among companies as there is zero carbon emission, and it uses electricity as a feedstock. This electricity is generated by renewable energy sources such as wind and solar, which are abundant and produce no greenhouse gases. Furthermore, due to a number of technical and performance advancements in proton exchange membrane electrolyzer, the market is anticipated to expand quickly during the forecast period.”
Additionally, BIS Research also offers a dedicated and unique platform to find and access deeptech insights and updates on emerging technologies across industry verticals. Insight Monk, an AI powered deeptech search engine, is a subscription based platform that offers a library of latest market insights and updates based on emerging tech. Learn more about InsightMonk here. https://www.insightmonk.com
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Hydrogen Electrolyzer Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2019-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Acta S.p.A, Ballard Power Systems, HyperSolar, Inc., ITM Power, Kingkar Eco-Technologies Co., Ltd., Plug Power Inc., Proton Power Control Pvt Ltd.,.This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Hydrogen Electrolyzer Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/hydrogen-electrolyzer-market/download-sampleMarket SegmentationThe broad Hydrogen Electrolyzer market has been sub-grouped into the Type, Application and region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
This detail will lead to a focused approach leading to identification of better opportunities.By TypePolymer Electrolyte Membrane (PEM) ElectrolyzerAlkaline Water ElectrolyzerSolid Oxide ElectrolyzerBy ApplicationChemicalsAutomobileEnergyFood and BeveragesPharmaceutical & BiotechnologyElectronicsGlassOthersBy RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East and AfricaBrowse Global Hydrogen Electrolyzer Market Research Report with detailed TOC at https://www.valuemarketresearch.com/report/hydrogen-electrolyzer-marketRegional Analysis Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for Hydrogen Electrolyzer in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The Electrolyzer market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the electrolyzer market include Hydrogenics, Nel, Proton Onsite, Siemens, Toshiba, Air Liquide, Plug Power, McPhy Energy, ITM Power, Idroenergy, Asahi Kasei, Kobelco Eco-solutions, Erredue, Green Hydrogen, Areva H2Gen, IHT, Next Hydrogen, Acta.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Electrolyzer Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/electrolyzer-market/download-sampleMarket DynamicsThe rapid development of hydrogen infrastructure and increased use as an industrial feedstock will be the key trends stimulating this market’s growth.
The growing preference for fuel-cell electric vehicles to improve vehicle efficiency and reduce vehicles’ environmental impact will boost market growth.
Intensive research to manufacture low-cost electrolyzers with increased efficiency, operating life, power density, and stack size will be beneficial to market growth.
The statistical surveying report on the global Electrolyzer Market has been presented by using professional or expert knowledge through standard and modified research approaches and forecasts.
The yearly forecast and predication for the years 2020 to 2025 have been enclosed by the report along with comprehensive analysis for all market segments and regions.
The statistical data derived from authentic resources and assisted by industry experts.
It likewise assesses the market by evaluating market elements, including drivers, restraints, opportunities, threats, challenges, growth prospects, and other market elements.The global electrolyzer market report presents a complete research-based study of the industry including details such as company shares, forecast data, in-depth analysis and an outlook of the market on a worldwide platform.
For a thorough understanding, the report also offers market segmentation and regional analysis for the forecast period from 2020 to 2025.According to this study, over the next five years, the Electrolyzer market will register a 9.5% CAGR in terms of revenue, the global market size will reach US$ 1390 million by 2025, from US$ 880 million in 2019.
Electrolyzes can range in size from small, appliance-size equipment that is well-suited for small-scale distributed hydrogen production to large-scale, central production facilities that could be tied directly to renewable or other non-greenhouse-gas-emitting forms of electricity production.Electrolysis is a promising option for hydrogen production from renewable resources.
