DUBLIN, March 21, 2023 /PRNewswire/ -- The "PEM Electrolyzer Market - A Global and Regional Analysis - Focus on End User, Material Type, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
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.
Demand - Drivers and Limitations
The following are the demand drivers for the global PEM Electrolyzer market:
The market is expected to face some limitations as well due to the following challenges:
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.
The global PEM electrolyzer market has been segmented by different end users, among which ammonia production captured around 33.0% of the market as of 2021. Other end users, including transportation, accounted for around 15.6%, the refining industry accounted for 22.6%, power and energy storage accounted for 7.2%, methanol production accounted for 4.7%, and other end-use industry accounted for 16.9% of the total demand in 2021 in terms of value.
Some of the established names in this market are:
Company Type (by End User)
Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).
Market Segmentation:
Segmentation 1: by End User
Based on end users, ammonia production led the global PEM electrolyzer market in 2021
Segmentation 2: by Material Type
The global PEM electrolyzer market was led by platinum in terms of material type in 2021.
Segmentation 4: by Region
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
Key Topics Covered:
1 Markets
2 Application
3 Products
4 Regions
5 Markets - Competitive Benchmarking & Company Profiles
6 Research Methodology
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/po83fj
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/pem-electrolyzer-global-market-report-2023-increasing-government-investments-in-renewable-energy-sources-fuels-growth-research-and-markets-301777529.html
SOURCE Research and Markets
