Asia-Pacific PEM Electrolyzer Markets, 2022 and 2023-2031: Rising Demand for Advanced Electrolysis Technologies, Surge in Sustainable Hydrogen Economy
DUBLIN, Dec. 6, 2023 /PRNewswire/ --The "Asia-Pacific PEM Electrolyzer Market - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific PEM electrolyzer market (excluding China) is projected to reach $306.7 million by 2031 from $14.7 million in 2022, growing at a CAGR of 40.1% during the forecast period 2022-2031.
PEM electrolyzer demand is expected to soar in the Asia-Pacific (APAC) area due to growing demands from a variety of end-use industries, such as methanol manufacturing, transportation, power and energy storage, ammonia production, and refining. A significant increase in the use of PEM electrolyzers for the production of green hydrogen is anticipated, supported by significant investments in renewable energy sources from both public and commercial sectors. However, in the near future, the lack of hydrogen-related infrastructure, such as storage and transportation facilities, may hinder the region's PEM electrolyzer market's expansion.
Proton Exchange Membrane (PEM) electrolyzer sales are currently expanding in the Asia-Pacific (APAC) market due to a number of important factors. The market is expected to develop primarily because to the growing popularity of fuel cell vehicles and the increased focus on decarbonization and lowering greenhouse gas emissions.
The need for ecologically friendly fuels is also anticipated to increase due to a spike in demand from a variety of end-user industries and the introduction of stronger government laws targeted at reducing greenhouse gas emissions. The growing need for green hydrogen is expected to propel the growth trajectory of the worldwide PEM electrolyzer market, which is also expected to gain from it. PEM electrolyzers are becoming more and more necessary as a result of fuel cell electric vehicles.
How can this report add value to an organization?
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 Asia-Pacific 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.
The APAC 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 global PEM electrolyzer market.
Key players in the APAC 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 Asia-Pacific PEM electrolyzer market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.
Industry Outlook
Trends: Current and Future
- Rising Government Efforts to Construct Low-Carbon Infrastructure
- Surge in Sustainable Hydrogen Economy
- Rising Demand for Advanced Electrolysis Technologies
- Supply Chain Analysis
Ecosystem/Ongoing Programs
- Consortiums and Associations
- Regulatory Bodies
- Government Programs
- Programs by Research Institutions and Universities
Impact of Iridium Demand-Supply Gap on the PEM Electrolyzer Market
- Global Iridium Demand-Regional Analysis and Specification
- China
Asia-Pacific and Japan
- Asia-Pacific Iridium Demand Analysis (by Region), Value and Volume Data, 2021 to 2031
- Asia-Pacific Iridium Demand Analysis (by Region), Volume, 2021 to 2031
- Global Iridium Demand Analysis (by Region), Value, 2021 to 2031
Iridium Impact on PEM Electrolyzer: Current and Future
- Company Innovations to Lessen Reliance on Iridium
- Iridium, Osmium, and Ruthenium: Import and Export Analysis by key Countries, (2017-2021)
Iridium Supply and Demand Gap
PEM Electrolyzer Market Scenario: Historical vs Realistic vs Optimistic, MW, 2021-2031
- Hitachi Zosen Corporation
- Company Overview
- Iridium Procurement Analysis
- Key Challenges Faced by the Company
- Key Steps to Mitigate Iridium Demand-Supply Gap
- Hitachi Zosen Corporation: SWOT Analysis
Some of the prominent names established in this market are:
- Elchemtech Co., Ltd.
- Hitachi Zosen Corporation
- Beijing SinoHy Energy Co., Ltd
- Ningbo VET Energy Technology Co., Ltd.
Market Segmentation:
End User
- Refining Industry
- Power and Energy Storage
- Ammonia Production
- Methanol Production
- Transportation
- Others
Material Type
- Iridium
- Platinum
- Others
Country
- Japan
- India
- South Korea
- Australia
- Rest-of-Asia-Pacific
For more information about this report visit https://www.researchandmarkets.com/r/uq0h6v
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