Europe PEM Electrolyzer Market - Analysis and Forecast, 2022-2031
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.
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
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- 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
- 1.1.9.5.3 Ohmium International, Inc.: SWOT Analysis
- 1.1.9.6 Hystar
- 1.1.9.6.1 Company Overview
- 1.1.9.6.2 Iridium Procurement Analysis
- 1.1.9.6.2.1 Key Challenges Faced by the Company
- 1.1.9.6.2.2 Key Steps to Mitigate Iridium Demand-Supply Gap
- 1.1.9.6.3 Hystar: SWOT Analysis
- 1.1.9.7 Nel ASA
- 1.1.9.7.1 Company Overview
- 1.1.9.7.2 Iridium Procurement Analysis
- 1.1.9.7.2.1 Key Challenges Faced by the Company
- 1.1.9.7.2.2 Key Steps to Mitigate Iridium Demand-Supply Gap
- 1.1.9.7.3 Nel ASA: SWOT Analysis
- 1.1.9.8 Hitachi Zosen Corporation
- 1.1.9.8.1 Company Overview
- 1.1.9.8.2 Iridium Procurement Analysis
- 1.1.9.8.2.1 Key Challenges Faced by the Company
- 1.1.9.8.2.2 Key Steps to Mitigate Iridium Demand-Supply Gap
- 1.1.9.8.3 Hitachi Zosen Corporation: SWOT Analysis
- 1.1.9.9 Elogen
- 1.1.9.9.1 Company Overview
- 1.1.9.9.2 Iridium Procurement Analysis
- 1.1.9.9.2.1 Key Challenges Faced by the Company
- 1.1.9.9.2.2 Key Steps to Mitigate Iridium Demand-Supply Gap
- 1.1.9.9.3 Elogen: SWOT Analysis
- 1.1.9.10 H-TEC SYSTEMS GmbH
- 1.1.9.10.1 Company Overview
- 1.1.9.10.2 Iridium Procurement Analysis
- 1.1.9.10.2.1 Key Challenges Faced by the Company
- 1.1.9.10.2.2 Key Steps to Mitigate Iridium Demand-Supply Gap
- 1.1.9.10.3 H-TEC SYSTEMS GmbH: SWOT Analysis
- 1.2 Business Dynamics
- 1.2.1 Business Drivers
- 1.2.1.1 Increasing Demand for Green Hydrogen
- 1.2.1.2 Rising Adoption of Fuel Cell Electric Vehicles (FCEVs)
- 1.2.1.3 Prevailing Research and Development Initiatives for Technological Advancements
- 1.2.2 Business Challenges
- 1.2.2.1 High Energy Losses during Production Process
- 1.2.2.2 High Cost of Production due to Usage of Precious Metals in PEM Technology
- 1.2.3 Business Strategies
- 1.2.3.1 Market Developments
- 1.2.4 Corporate Strategies
- 1.2.4.1 Partnerships, Collaborations, and Joint Ventures
- 1.2.5 Business Opportunities
- 1.2.5.1 Rising Need for Hydrogen Energy Storage Infrastructure
- 1.2.5.2 Rising Demand for Green Fuel Technologies and Green Fertilizers
- 1.3 Start-Up/Emerging Manufacturer Landscape
- 1.3.1 Key Start-Ups/Emerging Manufacturers in the Ecosystem
- 1.3.2 New Products/Offerings
- 2 Regions
- 2.1 Europe
- 2.1.1 Market
- 2.1.1.1 Key Producers and Suppliers in Europe
- 2.1.1.2 Business Drivers
- 2.1.1.3 Business Challenges
- 2.1.2 Applications
- 2.1.2.1 Europe PEM Electrolyzer Market (by End User), Volume and Value Data
- 2.1.3 Products
- 2.1.3.1 Europe PEM Electrolyzer Market (by Material Type), Value Data
- 2.1.4 Europe (by Country)
- 2.1.4.1 Germany
- 2.1.4.1.1.1 Buyer Attributes
- 2.1.4.1.1.2 Key Producers and Suppliers in Germany
- 2.1.4.1.1.3 Regulatory Landscape
- 2.1.4.1.1.4 Business Drivers
- 2.1.4.1.1.5 Business Challenges
- 2.1.4.1.2 Applications
- 2.1.4.1.2.1 Germany PEM Electrolyzer Market (by End User), Volume and Value Data
- 2.1.4.1.3 Products
- 2.1.4.1.3.1 Germany PEM Electrolyzer Market (by Material Type), Value Data
- 2.1.4.2 France
- 2.1.4.2.1 Market
- 2.1.4.2.1.1 Buyer Attributes
- 2.1.4.2.1.2 Key Producers and Suppliers in France
- 2.1.4.2.1.3 Regulatory Landscape
- 2.1.4.2.1.4 Business Drivers
- 2.1.4.2.1.5 Business Challenges
- 2.1.4.2.2 Applications
- 2.1.4.2.2.1 France PEM Electrolyzer Market (by End User), Volume and Value Data
- 2.1.4.2.3 Products
- 2.1.4.2.3.1 France PEM Electrolyzer Market (by Material Type), Value Data
- 2.1.4.3 Netherlands
- 2.1.4.3.1 Market
- 2.1.4.3.1.1 Buyer Attributes
- 2.1.4.3.1.2 Key Producers and Suppliers in the Netherlands
- 2.1.4.3.1.3 Regulatory Landscape
- 2.1.4.3.1.4 Business Drivers
- 2.1.4.3.1.5 Business Challenges
- 2.1.4.3.2 Applications
- 2.1.4.3.2.1 Netherlands PEM Electrolyzer Market (by End User), Volume and Value Data
- 2.1.4.3.3 Products
- 2.1.4.3.3.1 Netherlands PEM Electrolyzer Market (by Material Type), Value Data
- 2.1.4.4 Spain
- 2.1.4.4.1 Market
- 2.1.4.4.1.1 Buyer Attributes
- 2.1.4.4.1.2 Key Producers and Suppliers in Spain
- 2.1.4.4.1.3 Regulatory Landscape
- 2.1.4.4.1.4 Business Drivers
- 2.1.4.4.1.5 Business Challenges
- 2.1.4.4.2 Applications
- 2.1.4.4.2.1 Spain PEM Electrolyzer Market (by End User), Volume and Value Data
- 2.1.4.4.3 Products
- 2.1.4.4.3.1 Spain PEM Electrolyzer Market (by Material Type), Value Data
- 2.1.4.5 Rest-of-Europe
- 2.1.4.5.1 Market
- 2.1.4.5.1.1 Buyer Attributes
- 2.1.4.5.1.2 Key Producers and Suppliers in Rest-of-Europe
- 2.1.4.5.1.3 Business Drivers
- 2.1.4.5.1.4 Business Challenges
- 2.1.4.5.2 Applications
- 2.1.4.5.2.1 Rest-of-Europe PEM Electrolyzer Market (by End User), Volume and Value Data
- 2.1.4.5.3 Products
- 2.1.4.5.3.1 Rest-of-Europe PEM Electrolyzer Market (by Material Type), Value Data
- 2.2 U.K.
- 2.2.1 Market
- 2.2.1.1 Buyer Attributes
- 2.2.1.2 Key Producers and Suppliers in the U.K.
- 2.2.1.3 Regulatory Landscape
- 2.2.1.4 Business Drivers
- 2.2.1.5 Business Challenges
- 2.2.2 Applications
- 2.2.2.1 U.K. PEM Electrolyzer Market (by End User), Volume and Value Data
- 2.2.3 Products
- 2.2.3.1 U.K. PEM Electrolyzer Market (by Material Type), Value Data
- 3 Markets – Competitive Benchmarking & Company Profiles
- 3.1 Competitive Benchmarking (2021)
- 3.1.1 Competitive Position Matrix (2021)
- 3.1.2 Product Matrix for Key Companies
- 3.1.3 Market Share Analysis of Key Companies, 2021
- 3.2 Company Profiles
- 3.2.1 Siemens Energy AG
- 3.2.1.1 Company Overview
- 3.2.1.1.1 Role of Siemens Energy AG in the PEM Electrolyzer Market
- 3.2.1.1.2 Product Portfolio
- 3.2.1.1.3 Production Site
- 3.2.1.2 Business Strategies
- 3.2.1.2.1 Market Developments
- 3.2.1.3 Corporate Strategies
- 3.2.1.3.1 Partnerships, Collaboration, and Joint Ventures
- 3.2.1.4 R & D Analysis
- 3.2.1.5 Analyst View
- 3.2.2 Hystar
- 3.2.2.1 Company Overview
- 3.2.2.1.1 Role of Hystar in the PEM Electrolyzer Market
- 3.2.2.1.2 Product Portfolio
- 3.2.2.1.3 Production Site
- 3.2.2.2 Business Strategies
- 3.2.2.2.1 Market Developments
- 3.2.2.3 Corporate Strategies
- 3.2.2.3.1 Partnerships, Collaborations, and Joint Ventures
- 3.2.2.4 Analyst View
- 3.2.3 Nel ASA
- 3.2.3.1 Company Overview
- 3.2.3.1.1 Role of Nel ASA in the PEM Electrolyzer Market
- 3.2.3.1.2 Product Portfolio
- 3.2.3.1.3 Production Site
- 3.2.3.2 Business Strategies
- 3.2.3.2.1 Market Developments
- 3.2.3.2.2 Partnerships, Collaborations, and Joint Venture
- 3.2.3.3 Analyst View
- 3.2.4 ITM Power PLC
- 3.2.4.1 Company Overview
- 3.2.4.1.1 Role of ITM Power PLC in the PEM Electrolyzer Market
- 3.2.4.1.2 Product Portfolio
- 3.2.4.1.3 Production Site
- 3.2.4.2 Business Strategies
- 3.2.4.2.1 Market Developments
- 3.2.4.3 Corporate Strategies
- 3.2.4.3.1 Merger and Acquisitions
- 3.2.4.4 R&D Analysis
- 3.2.4.5 Analyst View
- 3.2.5 H-TEC SYSTEMS GmbH
- 3.2.5.1 Company Overview
- 3.2.5.1.1 Role of H-TEC SYSTEMS GmbH in the PEM Electrolyzer Market
- 3.2.5.1.2 Product Portfolio
- 3.2.5.2 Business Strategies
- 3.2.5.2.1 Market Developments
- 3.2.5.3 Analyst View
- 3.2.6 H2GREEM S.L.
- 3.2.6.1 Company Overview
- 3.2.6.1.1 Role of H2GREEM S.L. in the PEM Electrolyzer Market
- 3.2.6.1.2 Product Portfolio
- 3.2.6.2 Business Strategies
- 3.2.6.2.1 Market Developments
- 3.2.6.3 Analyst View
- 3.2.7 Oort Energy Ltd.
- 3.2.7.1 Company Overview
- 3.2.7.1.1 Role of Oort Energy Ltd. in the PEM Electrolyzer Market
- 3.2.7.1.2 Product Portfolio
- 3.2.7.2 Corporate Strategies
- 3.2.7.2.1 Partnerships, Collaborations, and Joint Ventures
- 3.2.7.3 Analyst View
- 3.2.8 iGas energy GmbH
- 3.2.8.1 Company Overview
- 3.2.8.1.1 Role of iGas energy GmbH in the PEM Electrolyzer Market
- 3.2.8.1.2 Product Portfolio
- 3.2.8.2 Analyst View
- 3.2.9 IMI Critical Engineering
- 3.2.9.1 Company Overview
- 3.2.9.1.1 Role of IMI Critical Engineering in the PEM Electrolyzer Market
- 3.2.9.1.2 Product Portfolio
- 3.2.9.2 Business Strategies
- 3.2.9.2.1 Product Developments
- 3.2.9.2.2 Market Developments
- 3.2.9.3 Analyst View
- 4 Research Methodology
- List of Figures
- Figure 1: PEM Electrolyzer Market, $Million, 2021, 2022, and 2031
- Figure 2: PEM Electrolyzer Market (by End User), $Million, 2021 and 2031
- Figure 3: PEM Electrolyzer Market (by Material Type), $Million, 2021 and 2031
- Figure 4: PEM Electrolyzer Market (by Region), $Million, 2021 and 2031
- Figure 5: Technological Possibilities for Green Hydrogen Production Under $1.5/kg by 2050
- Figure 6: Anticipated Capacity for Producing Electrolyzers (by region), 2021-2031
- Figure 7: Supply Chain Analysis of the PEM Electrolyzer Market
- Figure 8: Global Iridium Market Supply and Demand, Tons, 2021-2031
- Figure 9: PEM Electrolyzer Market Volume based on Historical, Optimistic, and Realistic Scenario, MW, 2021-2031
- Figure 10: Number of Fuel Cell Vehicles and Hydrogen Refuelling Stations Worldwide, 2021
- Figure 11: Distribution of Fuel Cell Electric Vehicle Stock (by Region and Mode), 2021
- Figure 12: Distribution of All Fuel Cell Vehicles on Roads as of the End of 2020 (by Country)
- Figure 13: Distribution of Different Fuel Cell Vehicle Types Worldwide as of the End of 2020
- Figure 14: Research Methodology
- Figure 15: Top-Down and Bottom-Up Approach
- Figure 16: PEM Electrolyzer Market Influencing Factors
- Figure 17: Assumptions and Limitations
- List of Tables
- Table 1: List of Green Hydrogen Programs by Major Countries
- Table 2: Comparison Table of Various Fuel Sources
- Table 3: Iridium Usage based on Application.
- Table 4: U.K. Import and Export Data
- Table 5: List of Players Involved in Iridium Manufacturing and Distribution
- Table 6: List of Key Players Involved in the Manufacturing of PEM Electrolyzer Systems
- Table 7: Required Activities to Enhance the Efficiency of PEM Electrolyzers
- Table 8: Iridium, Osmium, and Ruthenium: Import Analysis by Key Countries, $Thousand, 2017-2021
- Table 9: Iridium, Osmium, and Ruthenium: Export Analysis by Key Countries, $Thousand, 2017-2021
- Table 10: PEM Electrolyzer Market Volume based on Historical, Optimistic, and Realistic Scenario, MW, 2021-2031
- Table 11: Key Market Developments
- Table 12: Key Partnerships, Collaborations, and Joint Ventures
- Table 13: Key Start-Ups in PEM Electrolyzer Market
- Table 14: Product Offerings by Key Start-Ups in PEM Electrolyzer Market
- Table 15: Europe PEM Electrolyzer Market (by End User), MW, 2021-2031
- Table 16: Europe PEM Electrolyzer Market (by End User), $Million, 2021-2031
- Table 17: Europe PEM Electrolyzer Market (by Material Type), $Million, 2021-2031
- Table 18: Germany PEM Electrolyzer Market (by End User), MW, 2021-2031
- Table 19: Germany PEM Electrolyzer Market (by End User), $Million, 2021-2031
- Table 20: Germany PEM Electrolyzer Market (by Material Type), $Million, 2021-2031
- Table 21: France PEM Electrolyzer Market (by End User), MW, 2021-2031
- Table 22: France PEM Electrolyzer Market (by End User), $Million, 2021-2031
- Table 23: France PEM Electrolyzer Market (by Material Type), $Million, 2021-2031
- Table 24: Netherlands PEM Electrolyzer Market (by End User), MW, 2021-2031
- Table 25: Netherlands PEM Electrolyzer Market (by End User), $Million, 2021-2031
- Table 26: Netherlands PEM Electrolyzer Market (by Material Type), $Million, 2021-2031
- Table 27: Spain PEM Electrolyzer Market (by End User), MW, 2021-2031
- Table 28: Spain PEM Electrolyzer Market (by End User), $Million, 2021-2031
- Table 29: Spain PEM Electrolyzer Market (by Material Type), $Million, 2021-2031
- Table 30: Rest-of-Europe PEM Electrolyzer Market (by End User), MW, 2021-2031
- Table 31: Rest-of-Europe PEM Electrolyzer Market (by End User), $Million, 2021-2031
- Table 32: Rest-of-Europe PEM Electrolyzer Market (by Material Type), $Million, 2021-2031
- Table 33: U.K. PEM Electrolyzer Market (by End User), MW, 2021-2031
- Table 34: U.K. PEM Electrolyzer Market (by End User), $Million, 2021-2031
- Table 35: U.K. PEM Electrolyzer Market (by Material Type), $Million, 2021-2031
- Table 36: Product Matrix for Key Companies
- Table 37: Market Share of Key Companies
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