Global Market for PEM Electrolyzer

July 2024 | 119 pages | ID: G9DB7307EAA8EN
BCC Research

Abstracts

Report Scope

The report provides a comprehensive overview and analysis of the global proton exchange membrane (PEM) electrolyzer market and a detailed analysis of the market players’ products and key initiatives. Using 2023 as the base year, the report provides estimated market data for 2024, and the market values are forecast from 2024 through 2029. It also includes details about the electrolyzers’ different components and end-use applications. Estimated market values are based on the determined market penetration of PEM electrolyzers in the overall water electrolysis market. Projected revenue values are in constant U.S. dollars that have not been adjusted for inflation.

The global PEM electrolyzer market has been segmented into the following market segments:

• Component: electrolyzer stack, balance of plant.
• Capacity: below 500 kW, 500 kW to 2 MW, and above 2MW.
• Application: industrial, refining, automotive and transportation, and others (energy storage, power generation, and high-temperature heating).
• Region: North America, Europe, Asia-Pacific, and Rest of World.

Report Includes

• 43 data tables and 45 additional tables
• An overview of the global market for proton exchange membrane (PEM) electrolyzers
• Analysis of global market trends, with revenue data for 2023, estimated figures for 2024, forecasts for 2025, 2027, and 2029, and projected CAGRs through 2029
• Identification of new opportunities, challenges and technological changes in the industry and a market share analysis by component, capacity, application and region
• Examination of PEM electrolyzer companies’ current and future strategies
• Analysis of R&D activity, product launches and regulatory elements
• Analysis of the key companies’ market shares, mergers & acquisitions, joint ventures, collaborations and other market strategies
• Profiles of the major market players, including Cummins Inc., ITM Power PLC, Ohmium, Plug Power Inc., and Siemens Energy

Contents

CHAPTER 1 EXECUTIVE SUMMARY

Market Outlook
Scope of Report
Market Summary

CHAPTER 2 MARKET OVERVIEW

Current Market Overview
Key Hydrogen Production Methods
Types of Hydrogen
Grey Hydrogen
Blue Hydrogen
Turquoise Hydrogen
Green Hydrogen
Porter's Five Forces Analysis
Bargaining Power of Buyers
Bargaining Power of Suppliers
Potential for New Entrants to the Market
Threat of Substitutes
Competition in the Industry
Value Chain Analysis
Raw Material Providers
Processed Material Providers
Sub-Component Providers
End-Product Providers

CHAPTER 3 MARKET DYNAMICS

Market Dynamics
Market Drivers
Market Restraints
Current Market Trends
Future Market Opportunities

CHAPTER 4 EMERGING TECHNOLOGIES AND DEVELOPMENTS

Overview
Emerging Technologies in Proton Exchange Membrane Electrolyzers
Advanced Membrane Technologies
Integrated Electrolyzer Design
High-Efficiency Electrolysis Catalysts
Advanced Manufacturing Methods
Patent Analysis
Patent Description for Proton Exchange Membrane Electrolyzers
Key Findings from Patent Analysis

CHAPTER 5 MARKET SEGMENTATION ANALYSIS

Segmentation Breakdown
Global Proton Exchange Membrane Electrolyzer Market by Component
Electrolyzer Stack
Balance of Plant
Global Proton Exchange Membrane Electrolyzer Market by Capacity
Below 500 kW

500 KW TO 2 MW

Above 2 MW
Global Proton Exchange Membrane Electrolyzer Market by Application
Industrial
Refining
Automotive and Transportation
Other Applications
Geographic Breakdown
Global Proton Exchange Membrane Electrolyzer Market by Region
North America
Europe
Asia-Pacific
Rest of World (RoW)

CHAPTER 6 COMPETITIVE INTELLIGENCE

Overview
Competitive Information for Key Market Players
Cummins Inc.
ITM Power PLC
Ohmium International Inc.
Plug Power Inc.
Siemens Energy AG
Key Developments

CHAPTER 7 SUSTAINABILITY IN GLOBAL MARKET FOR PEM ELECTROLYZER: AN ESG PERSPECTIVE

Overview
Environmental Impact/Performance
Social Impact/Performance
Governance Impact/Performance
Concluding Remarks from BCC Research

CHAPTER 8 APPENDIX

Methodology
Research Steps
References
Acronyms
Company Profiles
AIR LIQUIDE
AIR PRODUCTS AND CHEMICALS INC.
CUMMINS INC.
HITACHI ZOSEN CORP.
H-TEC SYSTEMS GMBH
HYSTAR
ITM POWER PLC
NEL ASA
OHMIUM
PERIC HYDROGEN TECHNOLOGIES CO. LTD.
PLUG POWER INC.
SIEMENS ENERGY
List of other Players (Emerging Players)

List Of Tables

LIST OF TABLES

Summary Table : Global Market for Proton Exchange Membrane Electrolyzer, by Region, Through 2029
Table 1 : Comparison Between PEM Electrolyzers and Alkaline Electrolyzers
Table 2 : Global Ammonia Production Technology Milestones to Meet the Sustainable Development Scenario (SDS) and Net Zero Emissions (NZE), 2020-2050
Table 3 : Patents Published on Proton Exchange Membrane Electrolyzers, January 2021-May 2024
Table 4 : Patents Published on Proton Exchange Membrane Electrolyzers, by Top Five Companies, 2021-May 2024
Table 5 : Patent Description for Proton Exchange Membrane Electrolyzers, January 2021-May 2024
Table 6 : Global Market for Proton Exchange Membrane Electrolyzer, by Component, Through 2029
Table 7 : Global Market for Proton Exchange Membrane Electrolyzer for Electrolyzer Stack, by Region, Through 2029
Table 8 : Cost Structure of Electrolyzer Stack and Balance of Plant, 2023
Table 9 : Global Market for Proton Exchange Membrane Electrolyzer for Balance of Plant, by Region, Through 2029
Table 10 : Global Market for Proton Exchange Membrane Electrolyzer, by Capacity, Through 2029
Table 11 : Global Market for Proton Exchange Membrane Electrolyzer for Below 500 kW Capacity, by Region, Through 2029
Table 12 : Global Market for Proton Exchange Membrane Electrolyzer for 500 kW to 2 MW Capacity, by Region, Through 2029
Table 13 : Global Market for Proton Exchange Membrane Electrolyzer for Above 2 MW Capacity, by Region, Through 2029
Table 14 : Global Market for Proton Exchange Membrane Electrolyzer, by Application, Through 2029
Table 15 : Global Market for Proton Exchange Membrane Electrolyzer for Industrial Applications, by Region, Through 2029
Table 16 : Global Market for Proton Exchange Membrane Electrolyzer for Refining Applications, by Region, Through 2029
Table 17 : Global Market for Proton Exchange Membrane Electrolyzer for Automotive and Transportation Applications, by Region, Through 2029
Table 18 : Global Market for Proton Exchange Membrane Electrolyzer for Other Applications, by Region, Through 2029
Table 19 : Global Market for Proton Exchange Membrane Electrolyzer, by Region, Through 2029
Table 20 : North American Market for Proton Exchange Membrane Electrolyzer, by Country, Through 2029
Table 21 : North American Market for Proton Exchange Membrane Electrolyzer, by Component, Through 2029
Table 22 : North American Market for Proton Exchange Membrane Electrolyzer, by Capacity, Through 2029
Table 23 : North American Market for Proton Exchange Membrane Electrolyzer, by Application, Through 2029
Table 24 : European Operational Electrolyzer Manufacturing Capacity, October 2023
Table 25 : European Market for Proton Exchange Membrane Electrolyzer, by Country, Through 2029
Table 26 : European Market for Proton Exchange Membrane Electrolyzer, by Component, Through 2029
Table 27 : European Market for Proton Exchange Membrane Electrolyzer, by Capacity, Through 2029
Table 28 : European Market for Proton Exchange Membrane Electrolyzer, by Application, Through 2029
Table 29 : Asia-Pacific Market for Proton Exchange Membrane Electrolyzer, by Country, Through 2029
Table 30 : Asia-Pacific Market for Proton Exchange Membrane Electrolyzer, by Component, Through 2029
Table 31 : Asia-Pacific Market for Proton Exchange Membrane Electrolyzer, by Capacity, Through 2029
Table 32 : Asia-Pacific Market for Proton Exchange Membrane Electrolyzer, by Application, Through 2029
Table 33 : Rest of World Market for Proton Exchange Membrane Electrolyzer, by Sub-region, Through 2029
Table 34 : Rest of World Market for Proton Exchange Membrane Electrolyzer, by Component, Through 2029
Table 35 : Rest of World Market for Proton Exchange Membrane Electrolyzer, by Capacity, Through 2029
Table 36 : Rest of World Market for Proton Exchange Membrane Electrolyzer, by Application, Through 2029
Table 37 : Competitive Information for Key Proton Exchange Membrane Electrolyzer Market Players, 2023
Table 38 : Strategic Partnerships and Collaborations of Key Proton Exchange Membrane Electrolyzer Market Players, 2021-2024
Table 39 : Product Enhancements in the Exchange Membrane Electrolyzer Market, 2021-2023
Table 40 : Acquisitions and Expansions in the Global Proton Exchange Membrane Electrolyzer Market, 2022-2024
Table 41 : ESG Ratings of PEM Electrolyzer Manufacturers
Table 42 : Acronym Used in the Report
Table 43 : Air Liquide: Company Snapshot
Table 44 : Air Liquide: Financial Performance, FY 2022 and FY 2023
Table 45 : Air Liquide: Product Portfolio
Table 46 : Air Liquide: News/Key Developments, 2023
Table 47 : Air Products and Chemicals Inc.: Company Snapshot
Table 48 : Air Products and Chemicals Inc.: Financial Performance, FY 2022 and FY 2023
Table 49 : Air Products and Chemicals Inc.: Product Portfolio
Table 50 : Air Products and Chemicals Inc.: News/Key Developments, 2022
Table 51 : Cummins Inc.: Company Snapshot
Table 52 : Cummins Inc.: Financial Performance, FY 2022 and 2023
Table 53 : Cummins Inc.: Product Portfolio
Table 54 : Cummins Inc.: News/Key Developments, 2022 and 2023
Table 55 : Hitachi Zosen Corp.: Company Snapshot
Table 56 : Hitachi Zosen Corp.: Financial Performance, FY 2021 and FY 2022
Table 57 : Hitachi Zosen Corp.: Product Portfolio
Table 58 : Hitachi Zosen Corp.: News/Key Developments, 2023
Table 59 : H-TEC Systems GmbH: Company Snapshot
Table 60 : H-TEC Systems GmbH: Product Portfolio
Table 61 : H-TEC Systems GmbH: News/Key Developments, 2022 and 2023
Table 62 : Hystar: Company Snapshot
Table 63 : Hystar: Product Portfolio
Table 64 : Hystar: News/Key Developments, 2023
Table 65 : ITM Power Plc: Company Snapshot
Table 66 : ITM Power Plc: Financial Performance, FY 2022 and FY 2023
Table 67 : ITM Power Plc: Product Portfolio
Table 68 : ITM Power Plc: News/Key Developments, 2023 and 2024
Table 69 : Nel ASA: Company Snapshot
Table 70 : Nel ASA: Financial Performance, FY 2022 and FY 2023
Table 71 : Nel ASA: Product Portfolio
Table 72 : Nel ASA: News/Key Developments, 2022 and 2023
Table 73 : Ohmium: Company Snapshot
Table 74 : Ohmium: Product Portfolio
Table 75 : Ohmium: News/Key Developments, 2021-2024
Table 76 : PERIC Hydrogen Technologies Co. Ltd.: Company Snapshot
Table 77 : PERIC Hydrogen Technologies Co. Ltd.: Product Portfolio
Table 78 : PERIC Hydrogen Technologies Co. Ltd.: News/Key Developments, 2022 and 2023
Table 79 : Plug Power Inc.: Company Snapshot
Table 80 : Plug Power Inc.: Financial Performance, FY 2022 and FY 2023
Table 81 : Plug Power Inc.: Product Portfolio
Table 82 : Plug Power Inc.: News/Key Developments, 2023 and 2024
Table 83 : Siemens Energy: Company Snapshot
Table 84 : Siemens Energy: Financial Performance, FY 2022 and FY 2023
Table 85 : Siemens Energy: Product Portfolio
Table 86 : Siemens Energy: News/Key Developments, 2021-2023
Table 87 : List of Other Players in the PEM Electrolyzer Market

List Of Figures

LIST OF FIGURES

Summary Figure : Global Market Shares of Proton Exchange Membrane Electrolyzer, by Region, 2023
Figure 1 : Key Hydrogen Production Methods
Figure 2 : Types of Hydrogen
Figure 3 : Porter’s Five Forces Analysis: Global Proton Exchange Membrane Electrolyzer Market
Figure 4 : Value Chain Analysis of Global Proton Exchange Membrane Electrolyzer Market
Figure 5 : Market Dynamics of Global Proton Exchange Membrane Electrolyzer Market
Figure 6 : Global Platinum Price Trends, 2022-2024
Figure 7 : Share of Patents Published on Proton Exchange Membrane Electrolyzers, by Assignee Country, 2023
Figure 8 : Global Market Shares of Proton Exchange Membrane Electrolyzer, by Component, 2023
Figure 9 : Global Market Shares of Proton Exchange Membrane Electrolyzer for Electrolyzer Stack, by Region, 2023
Figure 10 : Global Market Shares of Proton Exchange Membrane Electrolyzer for Balance of Plant, by Region, 2023
Figure 11 : Global Market Shares of Proton Exchange Membrane Electrolyzer, by Capacity, 2023
Figure 12 : Global Market Shares of Proton Exchange Membrane Electrolyzer for Below 500 kW Capacity, by Region, 2023
Figure 13 : Global Market Shares of Proton Exchange Membrane Electrolyzer for 500 kW to 2 MW Capacity, by Region, 2023
Figure 14 : Global Market Shares of Proton Exchange Membrane Electrolyzer for Above 2 MW Capacity, by Region, 2023
Figure 15 : Global Market Shares of Proton Exchange Membrane Electrolyzer, by Application, 2023
Figure 16 : Global Market Shares of Proton Exchange Membrane Electrolyzer for Industrial Applications, by Region, 2023
Figure 17 : Global Market Shares of Proton Exchange Membrane Electrolyzer for Refining Applications, by Region, 2023
Figure 18 : Hydrogen Refueling Stations Worldwide, 2023
Figure 19 : Global Market Shares of Proton Exchange Membrane Electrolyzer for Automotive and Transportation Applications, by Region, 2023
Figure 20 : Global Market Shares of Proton Exchange Membrane Electrolyzer for Other Applications, by Region, 2023
Figure 21 : Global Market Shares of Proton Exchange Membrane Electrolyzer, by Region, 2023
Figure 22 : North American Market Shares of Proton Exchange Membrane Electrolyzer, by Country, 2023
Figure 23 : North American Market Shares of Proton Exchange Membrane Electrolyzer, by Component, 2023
Figure 24 : North American Market Shares of Proton Exchange Membrane Electrolyzer, by Capacity, 2023
Figure 25 : North American Market Shares of Proton Exchange Membrane Electrolyzer, by Application, 2023
Figure 26 : European Market Shares of Proton Exchange Membrane Electrolyzer, by Country, 2023
Figure 27 : European Market Shares of Proton Exchange Membrane Electrolyzer, by Component, 2023
Figure 28 : European Market Shares of Proton Exchange Membrane Electrolyzer, by Capacity, 2023
Figure 29 : European Market Shares of Proton Exchange Membrane Electrolyzer, by Application, 2023
Figure 30 : Asia-Pacific Market Shares of Proton Exchange Membrane Electrolyzer, by Country, 2023
Figure 31 : Asia-Pacific Market Shares of Proton Exchange Membrane Electrolyzer, by Component, 2023
Figure 32 : Asia-Pacific Market Shares of Proton Exchange Membrane Electrolyzer, by Capacity, 2023
Figure 33 : Asia-Pacific Market Shares of Proton Exchange Membrane Electrolyzer, by Application, 2023
Figure 34 : Rest of World Market Shares of Proton Exchange Membrane Electrolyzer, by Sub-region, 2023
Figure 35 : Rest of World Market Shares of Proton Exchange Membrane Electrolyzer, by Component, 2023
Figure 36 : Rest of World Market Shares of Proton Exchange Membrane Electrolyzer, by Capacity, 2023
Figure 37 : Rest of World Market Shares of Proton Exchange Membrane Electrolyzer, by Application, 2023
Figure 38 : Global Market Shares of Proton Exchange Membrane Electrolyzer, by Installed Capacity, 2023
Figure 39 : Research Steps for the Global PEM Electrolyzer Market
Figure 40 : Air Liquide: Revenue Share, by Business Unit, FY 2023
Figure 41 : Air Liquide: Revenue Share, by Country/Region, FY 2023
Figure 42 : Air Products and Chemicals Inc.: Revenue Share, by Region, FY 2023
Figure 43 : Cummins Inc.: Revenue Share, by Business Unit, FY 2023
Figure 44 : Cummins Inc.: Revenue Share, by Country/Region, FY 2023
Figure 45 : Hitachi Zosen Corp.: Revenue Share, by Business Unit, FY 2022
Figure 46 : Hitachi Zosen Corp.: Revenue Share, by Country/Region, FY 2022
Figure 47 : ITM Power Plc: Revenue Share, by Business Unit, FY 2023
Figure 48 : ITM Power Plc: Revenue Share, by Country/Region, FY 2023
Figure 49 : Nel ASA: Revenue Share, by Business Unit, FY 2023
Figure 50 : Nel ASA: Revenue Share, by Country/Region, FY 2023
Figure 51 : Plug Power Inc.: Revenue Share, by Country/Region, FY 2023
Figure 52 : Siemens Energy: Revenue Share, by Business Unit, FY 2023
Figure 53 : Siemens Energy: Revenue Share, by Country/Region, FY 2023