PEM Electrolyzer Market Report: Trends, Forecast and Competitive Analysis to 2030

PEM Electrolyzer Trends and Forecast

The future of the global PEM electrolyzer market looks promising with opportunities in the power generation, transportation, industry energy, industry feedstock, and building heating & power applications. The global PEM electrolyzer market is expected to reach an estimated $2.4 billion by 2030 with a CAGR of 22.0% from 2024 to 2030. The major drivers for this market are growing demand for green hydrogen, rising demand for environmentally-friendly fuel, and increasing focus towards rural electrification.

A more than 150-page report is developed to help in your business decisions.

PEM Electrolyzer by Segment

The study includes a forecast for the global PEM electrolyzer by type, application, and region.

PEM Electrolyzer Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• ≤ 500 kW
• > 500 kW - 2 MW
• Above 2 MW

PEM Electrolyzer Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Power Generation
• Transportation
• Industry Energy
• Industry Feedstock
• Building Heating & Power
• Others

PEM Electrolyzer Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of PEM Electrolyzer Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies PEM electrolyzer companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the PEM electrolyzer companies profiled in this report include-

• Plug Power
• Nel
• Cummins
• ITM Power
• Hitachi Zosen
• Elogen
• Siemens Energy
• Ningbo Vet Energy Technology
• Green Hydrogen Systems
• Haldor Topsøe

PEM Electrolyzer Market Insights

Lucintel forecasts that above 2 MW is expected to witness highest growth over the forecast period.

APAC is expected to witness highest growth over the forecast period due to expanding number of domestic and commercial spaces in the region.

Features of the Global PEM Electrolyzer Market

Market Size Estimates: PEM electrolyzer market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: PEM electrolyzer market size by type, application, and region in terms of value ($B).

Regional Analysis: PEM electrolyzer market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the PEM electrolyzer market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the PEM electrolyzer market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the PEM electrolyzer market size?

Answer: The global PEM electrolyzer market is expected to reach an estimated $2.4 billion by 2030.

Q.2 What is the growth forecast for PEM electrolyzer market?

Answer: The global PEM electrolyzer market is expected to grow with a CAGR of 22.0% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the PEM electrolyzer market?

Answer: The major drivers for this market are growing demand for green hydrogen, rising demand for environmentally-friendly fuel, and increasing focus towards rural electrification.

Q4. What are the major segments for PEM electrolyzer market?

Answer: The future of the PEM electrolyzer market looks promising with opportunities in the power generation, transportation, industry energy, industry feedstock, and building heating & power applications.

Q5. Who are the key PEM electrolyzer market companies?

Answer: Some of the key PEM electrolyzer companies are as follows:

• Plug Power
• Nel
• Cummins
• ITM Power
• Hitachi Zosen
• Elogen
• Siemens Energy
• Ningbo Vet Energy Technology
• Green Hydrogen Systems
• Haldor Topsøe

Q6. Which PEM electrolyzer market segment will be the largest in future?

Answer: Lucintel forecasts that above 2 MW is expected to witness highest growth over the forecast period.

Q7. In PEM electrolyzer market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to expanding number of domestic and commercial spaces in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the PEM electrolyzer market by type (≤ 500 kW, > 500 kW - 2 MW, and above 2 MW), application (power generation, transportation, industry energy, industry feedstock, building heating & power, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?