PEM Electrolyzer Market Analysis

PEM Electrolyzer Market Analysis

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Based on capacity, the > 500 kW – 2 MW segment is anticipated to cross more than USD 700 million by 2032. These systems use a large amount of water as a major feedstock for hydrogen generation and are widely used on-site across numerous industries including glass, metal, food & beverage, transportation, and chemical. Flexible delivery contracts, reduced cost, energy efficient process, compact & modular design, and significant reduction of harmful emissions are some of the key features which will augment the product demand.
 

Based on application, the transportation segment is set to register about 32% CAGR through 2032, owing to growing investments in innovation and research & development along with increasing demand for FCEVs as an alternative to conventional automobiles. Stringent regulatory norms toward low carbon emission vehicles have instigated the leading vehicle manufacturers to adopt renewable fuels will strengthen the product adoption.
 

Europe PEM electrolyzer market is likely to exceed USD 46.5 billion by 2032, driven by significant funding and support for hydrogen-related projects. Investment in the development of hydrogen infrastructure is anticipated to augment the market growth. The infrastructure is critical for the production, distribution, and utilization of hydrogen in various sectors, aligning with the European Union's hydrogen strategy. Moreover, the shifting trends toward sustainable transport infrastructure along with robust investments toward development of hydrogen based infrastructure will positively influence the business dynamics.
 

In the U.S. intensifying demand for hydrogen from the burgeoning industrial sectors including refining, petrochemicals, glass purification, and fertilizers will augment the industry landscape. Active involvement of several government institutions including the U.S. Department of Energy and National Laboratories is dynamically advancing the large-scale transition toward hydrogen technologies. Introduction of stringent federal regulations to limit the sulfur content in petroleum products will further reinforce the business scenario in the region.