“The Europe PEM Electrolyzer Market (excluding U.K.) Expected to Reach $1,117.9 Million by 2031.”
Introduction to Europe PEM Electrolyzer Market
The Europe PEM electrolyzer market is projected to reach $1,117.9 million by 2031 from $67.8 million in 2022, growing at a CAGR of 36.5% during the forecast period 2022-2031. The need for PEM electrolyzers is anticipated to surge in the European region as a result of rising demands from a range of end-use industries, including the production of ammonia, transportation, electricity and energy storage, and methanol. It is projected that the generation of green hydrogen using PEM electrolyzers would rise significantly, bolstered by large expenditures in renewable energy sources from the public and private sectors. The absence of hydrogen-related infrastructure, such as transportation and storage facilities, could, nevertheless, soon impede the growth of the PEM electrolyzer business in the area.
KEY MARKET STATISTICS
Forecast Period
2022 - 2031
2022 Evaluation
$67.8 Million
2031 Forecast
$1,117.9 Million
CAGR
36.5%
Market Introduction
The Europe market is seeing a rise in the sales of proton exchange membrane (PEM) electrolyzers as a result of several significant causes. Fuel cell vehicle popularity and the growing emphasis on decarbonization and reducing greenhouse gas emissions are the main reasons behind the market's predicted growth. Stronger government regulations aimed at lowering greenhouse gas emissions and a surge in demand from a range of end-user industries are expected to contribute to the growing need for environmentally friendly fuels. The global PEM electrolyzer market, which is also anticipated to benefit from it, is predicted to rise at a faster rate due to the growing need for green hydrogen. Fuel cell electric vehicles are making PEM electrolyzers more and more essential.
Market Segmentation:
Segmentation 1: by End User
Refining Industry
Power and Energy Storage
Ammonia Production
Methanol Production
Transportation
Others
Segmentation 2: by Material Type
Iridium
Platinum
Others
Segmentation 3: by Country
Germany
Netherlands
Spain
France
Rest-of-Europe
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 Europe 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 Europe PEM electrolyzer market.
Competitive Strategy: Key players in the Europe 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 Europe PEM electrolyzer market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
Siemens Energy AG
Hystar
Nel ASA
ITM Power PLC
H-TEC SYSTEMS GmbH
H2GREEM S.L.
Oort Energy Ltd.
iGas energy GmbH
IMI Critical Engineering
Table of Contents
Executive Summary
Scope of the Study
1. Markets
1.1. Industry Outlook
1.1.1. Trends: Current and Future
1.1.1.1. Rising Government Efforts to Construct Low-Carbon Infrastructure
1.1.1.2. Surge in Sustainable Hydrogen Economy
1.1.1.3. Rising Demand for Advanced Electrolysis Technologies
1.1.2. Supply Chain Analysis
1.1.3. Ecosystem/Ongoing Programs
1.1.3.1. Consortiums and Associations
1.1.3.2. Regulatory Bodies
1.1.3.3. Government Programs
1.1.3.4. Programs by Research Institutions and Universities
1.1.4. Impact of COVID-19 on the PEM Electrolyzer Market
1.1.5. Impact of Russia-Ukraine Conflict on the PEM Electrolyzer Market
1.1.5.1. Impact on the Supply Chain of the PEM Electrolyzer Market
1.1.5.2. Sanctions on Russia and Evaluation of These Sanctions
1.1.5.2.1. Effect of Sanctions on Russia
1.1.5.2.2. Impact of Sanctions on other Countries
1.1.5.3. The Road Ahead
1.1.5.3.1. Key Metal Importers from Russia
1.1.5.3.2. New Sourcing Avenues for Key Metal Importers from Russia
1.1.6. Impact of Iridium Demand-Supply Gap on the PEM Electrolyzer Market
1.1.6.1. Global Iridium Demand-Regional Analysis and Specification
1.1.6.1.1. North America
1.1.6.1.2. Europe
1.1.6.1.3. U.K.
1.1.6.2. Proposed Activities to Enhance the Efficiency of PEM Electrolyzers
1.1.6.3. Iridium, Osmium, and Ruthenium: Import and Export Analysis by key Countries, (2017-2021)
1.1.7. Global Iridium Supply and Demand Gap
1.1.8. PEM Electrolyzer Market Scenario: Historical vs Realistic vs Optimistic, MW, 2021-2031
1.1.9. Detailed Analysis of Key Steps Taken by Key 10 PEM Electrolyzer Manufacturers to Mitigate Iridium Demand-Supply Gap
1.1.9.1. Plug Power Inc.
1.1.9.1.1. Iridium Procurement Analysis
1.1.9.1.1.1. Key Challenges Faced by the Company
1.1.9.1.1.2. Key Steps to Mitigate Iridium Demand-Supply Gap
1.1.9.1.2. Plug Power Inc.: SWOT Analysis
1.1.9.2. ITM Power PLC
1.1.9.2.1. Company Overview
1.1.9.2.2. Iridium Procurement Analysis
1.1.9.2.2.1. Key Challenges Faced by the Company
1.1.9.2.2.2. Key Steps to Mitigate Iridium Demand-Supply Gap
1.1.9.2.3. ITM Power PLC: SWOT Analysis
1.1.9.3. Cummins Inc.
1.1.9.3.1. Company Overview
1.1.9.3.2. Iridium Procurement Analysis
1.1.9.3.2.1. Key Challenges Faced by the Company
1.1.9.3.2.2. Key Steps to Mitigate Iridium Demand-Supply Gap
1.1.9.3.3. Cummins Inc.: SWOT Analysis
1.1.9.4. Siemens Energy AG
1.1.9.4.1. Company Overview
1.1.9.4.2. Iridium Procurement Analysis
1.1.9.4.2.1. Key Challenges Faced by the Company
1.1.9.4.2.2. Key Steps to Mitigate Iridium Demand-Supply Gap
1.1.9.4.3. Siemens Energy AG: SWOT Analysis
1.1.9.5. Ohmium International, Inc.
1.1.9.5.1. Company Overview
1.1.9.5.2. Iridium Procurement Analysis
1.1.9.5.2.1. Key Challenges Faced by the Company
1.1.9.5.2.2. Key Steps to Mitigate Iridium Demand-Supply Gap