![]() PEM Electrolyzer Market - A Global and Regional Analysis: Focus on End User, Material Type, and Region - Analysis and Forecast, 2025-2034
Global PEM Electrolyzer Market: Industry Overview The demand for PEM electrolyzers is anticipated to grow with the increasing demand from the end-use industries such as ammonia production, refin... もっと見る
SummaryGlobal PEM Electrolyzer Market: Industry OverviewThe 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 2025-2034, 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. Market Segmentation: Segmentation 1: by End User • Refining Industry • Power and Energy Storage • Ammonia Production • Methanol Production • Transportation • Others Based on end users, ammonia production led the global PEM electrolyzer market in 2024. Segmentation 2: by Material Type • Iridium • Platinum • Others The global PEM electrolyzer market was led by platinum in terms of material type in 2024. Segmentation 3: by Region • North America - U.S., Canada, and Mexico • Europe - Germany, France, Netherlands, Spain, U.K., and Rest-of-Europe • Asia-Pacific – China, Japan, India, South Korea, Australia, and Rest-of-Asia-Pacific • Rest-of-the-World– South America, and Middle East and Africa In the global PEM electrolyzer market, Europe dominates the market due to the presence of several leading companies, such as Nel ASA, ITM Power PLC, and many more, along with a highly developed renewable energy market and growing sales of fuel cell vehicles. 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. Demand – Drivers and Limitations The following are the demand drivers for the global PEM Electrolyzer market: • Rising Adoption of Fuel Cell Electric Vehicles (FCEVs) • Prevailing Research and Development Initiatives for Technological Advancements in PEM Electrolyzer • Increasing Demand for Green Hydrogen The market is expected to face some limitations as well due to the following challenges: • High Energy Losses during Production Process • High Cost of Production due to the Use of Precious Metals in PEM Technology 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 strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market. Key Market Players and Competition Synopsis The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration. Some of the established names in this market are: Company Type (by End User) • Plug Power Inc • Nel ASA • Cummins. Inc. • ITM Power PLC • Hitachi Zosen Corporation • Elogen • Siemens Energy • Ningbo Vet Energy Technology Co., Ltd. Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable). Table of ContentsExecutive SummaryScope and Definition Market/Product Definition Key Questions Answered Analysis and Forecast Note 1. Markets: Industry Outlook 1.1 Trends: Current and Future Impact Assessment 1.2 Stakeholder Analysis 1.2.1 Use Case 1.2.2 End User and Buying Criteria 1.3 Market Dynamics Overview 1.3.1 Market Drivers 1.3.2 Market Restraints 1.3.3 Market Opportunities 1.4 Regulatory Landscape 1.5 Patent Analysis 1.6 Start-Up Landscape 1.7 Supply Chain Analysis 1.8 Value Chain Analysis 1.9 Investment Landscape and R&D Trends 1.10 Future Outlook and Market Roadmap 1.11 Industry Attractiveness 1.12 Impact of Iridium Demand-Supply Gap on the PEM Electrolyzer Market 1.13 Global Iridium Demand Analysis (by Region), Value and Volume Data, 2024 to 2034 1.14 Iridium Impact on PEM Electrolyzer: Current and Future 1.15 Global Iridium Supply and Demand Gap 1.16 PEM Electrolyzer Market Scenario: Historical vs Realistic vs Optimistic, MW, 2024-2034 1.17 Detailed Analysis of Key Steps Taken by Key 10 PEM Electrolyzer Manufacturers to Mitigate Iridium Demand-Supply Gap 1.18 PEM Electrolyzer Market: Average Pricing Analysis 2. PEM Electrolyzer Market (by Application) 2.1 Application Segmentation 2.2 Application Summary 2.3 PEM Electrolyzer Market (by End-User) 2.3.1 Refining Industry 2.3.2 Power and Energy Storage 2.3.3 Ammonia Production 2.3.4 Methanol Production 2.3.5 Transportation 2.3.6 Others 3. PEM Electrolyzer Market (by Product) 3.1 Product Segmentation 3.2 Product Summary 3.3 PEM Electrolyzer Market (by Material Type) 3.3.1 Platinum 3.3.2 Iridium 3.3.3 Others 4. PEM Electrolyzer Market (by Region) 4.1 PEM Electrolyzer Market (by Region) 4.2 North America 4.2.1 Regional Overview 4.2.2 Driving Factors for Market Growth 4.2.3 Factors Challenging the Market 4.2.4 Key Companies 4.2.5 Application 4.2.6 Product 4.2.7 U.S. 4.2.7.1 Market by Application 4.2.7.2 Market by Product 4.2.8 Canada 4.2.8.1 Market by Application 4.2.8.2 Market by Product 4.2.9 Mexico 4.2.9.1 Market by Application 4.2.9.2 Market by Product 4.3 Europe 4.3.1 Regional Overview 4.3.2 Driving Factors for Market Growth 4.3.3 Factors Challenging the Market 4.3.4 Key Companies 4.3.5 Application 4.3.6 Product 4.3.7 Germany 4.3.7.1 Market by Application 4.3.7.2 Market by Product 4.3.8 France 4.3.8.1 Market by Application 4.3.8.2 Market by Product 4.3.9 The Netherlands 4.3.9.1 Market by Application 4.3.9.2 Market by Product 4.3.10 Spain 4.3.10.1 Market by Application 4.3.10.2 Market by Product 4.3.11 U.K. 4.3.11.1 Market by Application 4.3.11.2 Market by Product 4.3.12 Rest-of-Europe 4.3.12.1 Market by Application 4.3.12.2 Market by Product 4.4 Asia-Pacific 4.4.1 Regional Overview 4.4.2 Driving Factors for Market Growth 4.4.3 Factors Challenging the Market 4.4.4 Key Companies 4.4.5 Application 4.4.6 Product 4.4.7 China 4.4.7.1 Market by Application 4.4.7.2 Market by Product 4.4.8 Japan 4.4.8.1 Market by Application 4.4.8.2 Market by Product 4.4.9 India 4.4.9.1 Market by Application 4.4.9.2 Market by Product 4.4.10 South Korea 4.4.10.1 Market by Application 4.4.10.2 Market by Product 4.4.11 Australia 4.4.11.1 Market by Application 4.4.11.2 Market by Product 4.4.12 Rest-of-Asia-Pacific 4.4.12.1 Market by Application 4.4.12.2 Market by Product 4.5 Rest-of-the-World 4.5.1 Regional Overview 4.5.2 Driving Factors for Market Growth 4.5.3 Factors Challenging the Market 4.5.4 Key Companies 4.5.5 Application 4.5.6 Product 4.5.7 South America 4.5.7.1 Market by Application 4.5.7.2 Market by Product 4.5.8 Middle East and Africa 4.5.8.1 Market by Application 4.5.8.2 Market by Product 5. Markets - Competitive Benchmarking & Company Profiles 5.1 Next Frontiers 5.2 Geographic Assessment 5.3 Company Profiles 5.3.1 Plug Power Inc. 5.3.1.1 Overview 5.3.1.2 Top Products/Product Portfolio 5.3.1.3 Top Competitors 5.3.1.4 Target Customers 5.3.1.5 Key Personnel 5.3.1.6 Analyst View 5.3.1.7 Market Share 5.3.2 Cummins Inc. 5.3.2.1 Overview 5.3.2.2 Top Products/Product Portfolio 5.3.2.3 Top Competitors 5.3.2.4 Target Customers 5.3.2.5 Key Personnel 5.3.2.6 Analyst View 5.3.2.7 Market Share 5.3.3 Siemens Energy AG 5.3.3.1 Overview 5.3.3.2 Top Products/Product Portfolio 5.3.3.3 Top Competitors 5.3.3.4 Target Customers 5.3.3.5 Key Personnel 5.3.3.6 Analyst View 5.3.3.7 Market Share 5.3.4 Ohmium International, Inc. 5.3.4.1 Overview 5.3.4.2 Top Products/Product Portfolio 5.3.4.3 Top Competitors 5.3.4.4 Target Customers 5.3.4.5 Key Personnel 5.3.4.6 Analyst View 5.3.4.7 Market Share 5.3.5 Hystar 5.3.5.1 Overview 5.3.5.2 Top Products/Product Portfolio 5.3.5.3 Top Competitors 5.3.5.4 Target Customers 5.3.5.5 Key Personnel 5.3.5.6 Analyst View 5.3.5.7 Market Share 5.3.6 Nel ASA 5.3.6.1 Overview 5.3.6.2 Top Products/Product Portfolio 5.3.6.3 Top Competitors 5.3.6.4 Target Customers 5.3.6.5 Key Personnel 5.3.6.6 Analyst View 5.3.6.7 Market Share 5.3.7 ITM Power PLC 5.3.7.1 Overview 5.3.7.2 Top Products/Product Portfolio 5.3.7.3 Top Competitors 5.3.7.4 Target Customers 5.3.7.5 Key Personnel 5.3.7.6 Analyst View 5.3.7.7 Market Share 5.3.8 Teledyne Energy Systems, Inc. 5.3.8.1 Overview 5.3.8.2 Top Products/Product Portfolio 5.3.8.3 Top Competitors 5.3.8.4 Target Customers 5.3.8.5 Key Personnel 5.3.8.6 Analyst View 5.3.8.7 Market Share 5.3.9 Elchemtech Co., Ltd. 5.3.9.1 Overview 5.3.9.2 Top Products/Product Portfolio 5.3.9.3 Top Competitors 5.3.9.4 Target Customers 5.3.9.5 Key Personnel 5.3.9.6 Analyst View 5.3.9.7 Market Share 5.3.10 Elogen 5.3.10.1 Overview 5.3.10.2 Top Products/Product Portfolio 5.3.10.3 Top Competitors 5.3.10.4 Target Customers 5.3.10.5 Key Personnel 5.3.10.6 Analyst View 5.3.10.7 Market Share 5.3.11 H-TEC SYSTEMS GmbH 5.3.11.1 Overview 5.3.11.2 Top Products/Product Portfolio 5.3.11.3 Top Competitors 5.3.11.4 Target Customers 5.3.11.5 Key Personnel 5.3.11.6 Analyst View 5.3.11.7 Market Share 5.3.12 H2GREEM S.L. 5.3.12.1 Overview 5.3.12.2 Top Products/Product Portfolio 5.3.12.3 Top Competitors 5.3.12.4 Target Customers 5.3.12.5 Key Personnel 5.3.12.6 Analyst View 5.3.12.7 Market Share 5.3.13 Oort Energy Ltd. 5.3.13.1 Overview 5.3.13.2 Top Products/Product Portfolio 5.3.13.3 Top Competitors 5.3.13.4 Target Customers 5.3.13.5 Key Personnel 5.3.13.6 Analyst View 5.3.13.7 Market Share 5.3.14 Verdagy 5.3.14.1 Overview 5.3.14.2 Top Products/Product Portfolio 5.3.14.3 Top Competitors 5.3.14.4 Target Customers 5.3.14.5 Key Personnel 5.3.14.6 Analyst View 5.3.14.7 Market Share 5.3.15 Angstrom Advanced Inc. 5.3.15.1 Overview 5.3.15.2 Top Products/Product Portfolio 5.3.15.3 Top Competitors 5.3.15.4 Target Customers 5.3.15.5 Key Personnel 5.3.15.6 Analyst View 5.3.15.7 Market Share 5.3.16 iGas energy GmbH 5.3.16.1 Overview 5.3.16.2 Top Products/Product Portfolio 5.3.16.3 Top Competitors 5.3.16.4 Target Customers 5.3.16.5 Key Personnel 5.3.16.6 Analyst View 5.3.16.7 Market Share 5.3.17 IMI Critical Engineering 5.3.17.1 Overview 5.3.17.2 Top Products/Product Portfolio 5.3.17.3 Top Competitors 5.3.17.4 Target Customers 5.3.17.5 Key Personnel 5.3.17.6 Analyst View 5.3.17.7 Market Share 5.3.18 Hitachi Zosen Corporation 5.3.18.1 Overview 5.3.18.2 Top Products/Product Portfolio 5.3.18.3 Top Competitors 5.3.18.4 Target Customers 5.3.18.5 Key Personnel 5.3.18.6 Analyst View 5.3.18.7 Market Share 5.3.19 Beijing SinoHy Energy Co., Ltd 5.3.19.1 Overview 5.3.19.2 Top Products/Product Portfolio 5.3.19.3 Top Competitors 5.3.19.4 Target Customers 5.3.19.5 Key Personnel 5.3.19.6 Analyst View 5.3.19.7 Market Share 5.3.20 Ningbo VET Energy Technology Co., Ltd. 5.3.20.1 Overview 5.3.20.2 Top Products/Product Portfolio 5.3.20.3 Top Competitors 5.3.20.4 Target Customers 5.3.20.5 Key Personnel 5.3.20.6 Analyst View 5.3.20.7 Market Share 6. Research Methodology Press Release
According to a premium market intelligence study by BIS Research, the global PEM electrolyzer market, shedding light on its growing role in the global transition to clean energy. The report provides key insights into the latest trends, technological advancements, and future market dynamics driving the demand for PEM electrolyzers worldwide.
With the accelerating transition toward green hydrogen and sustainable energy solutions, PEM electrolyzers have emerged as a critical technology for hydrogen production. The report highlights the increasing investments in hydrogen infrastructure, government incentives, and rising demand from industries such as energy, transportation, and chemicals as primary growth drivers. USP of the Report • Extensive competitive benchmarking of 20 key players to offer a holistic view of the global PEM electrolyzer market landscape • Market segregation based on material type and end user • Investment landscape, including product adoption scenario, funding, and patent analysis. • Impact of iridium demand-supply gap on the PEM electrolyzer market • Detailed analysis of key steps taken by 10 key PEM electrolyzer manufacturers to mitigate the iridium demand-supply gap. Analyst Perspective According to Debraj Chakraborty, Principal 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.” Key Companies Operating in The Market 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 strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market. The key players profiled in the report include Plug Power Inc., Cummins Inc., Siemens Energy AG, Ohmium International, Inc., Hystar, Nel ASA, ITM Power PLC, Teledyne Energy Systems, Inc., Elchemtech Co., Ltd., Elogen, H-TEC SYSTEMS GmbH, H2GREEM S.L., Oort Energy Ltd., Verdagy, Angstrom Advanced Inc., iGas energy GmbH, IMI Critical Engineering, Hitachi Zosen Corporation, Beijing SinoHy Energy Co., Ltd, and Ningbo VET Energy Technology Co., Ltd. Key Questions Answered in the Report • What are the main bottlenecks for scaling up PEM electrolyzer technology, and how can they be overcome? • Where is the greatest need for additional R&D efforts needed in the market? • Where can promising opportunities for enhancing the efficiency of PEM electrolyzer technology be seen? • What are the various types of electrolyzer technologies expected to be developed in the coming years? • What is the major iridium-related challenges that companies face? • What are the key steps taken by top companies to mitigate the iridium demand-supply gap? • What are the major factors and trends that influence the market for PEM electrolyzers? • What are some of the key initiatives taken by the existing players to improve their market positioning and strategies adopted by new players entering the market space?
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