PEM Small Capacity Electrolyzer Market Trends

PEM Small Capacity Electrolyzer Market Trends

Notable increase in the use of PEM electrolyzers in the transportation sector, particularly for fueling fuel cell electric vehicles (FCEVs) along with increasing utilization for power generation owing to their ability to efficiently produce hydrogen, which can be used as a clean energy source will stimulate the industry statistics. Gaining traction across various industrial applications, comprising production of ammonia, methanol, steel, and other chemicals will drive the business dynamics. Additionally, innovations in the electrolyzer technology, comprising increased current density and the use of less expensive materials, are leading to significant cost reductions, which will enhance the industry growth.