Scienza e Tecnologia
Global Proton Exchange Membrane (PEM) Electrolyzer Market to Reach $2.30 Billion by 2031 - Exclusive DeepTech M-A-P™ Analysis by BIS Research
According to this study, the global proton exchange membrane (PEM) electrolyzer market was valued at $95.9 million in 2021 and is projected to reach $2.30 billion by 2031.
The following factors are responsible for the increase in demand for the PEM electrolyzer:
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According to
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The study by BIS Research suggests that among different material types, platinum is anticipated to lead the market during the forecast period 2022- 2031.
Platinum group metal (PGM) catalysts, particularly platinum and iridium, are essential for proton PEM electrolyzer and PEM fuel cells. The uncertainty in the iridium demand outlook is high, reflecting a wide range of possible outcomes for hydrogen producers' growth rates and technological choices.
Companies' plan for green hydrogen projects indicates that demand for other PGM, such as platinum and palladium, will skyrocket over the next decade. Meeting just the EU's goals for green hydrogen production could result in PGM demand for electrolyzers being several times higher than the current global supply by 2030.
However, as iridium is a scarce material, increasing annual PEM electrolyzer production appears unfeasible. Various organizations and players are working to come up with solutions to solve the issue of iridium scarcity and price.
The companies profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are Plug Power Inc., Nel ASA, Cummins Inc., ITM Power PLC, Hitachi Zosen Corporation, Elogen, Siemens Energy, Ningbo Vet Energy Technology Co., Ltd., and more.
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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