PEM electrolyzers split water into hydrogen and oxygen using electricity—preferably from renewable sources. As the world shifts to green hydrogen, PEM electrolyzers are at the forefront of clean energy production.
According to Stratview Research, the hydrogen PEM market size was US$ 0.2 billion in 2024 and is likely to grow at a strong CAGR of 27.4% in the long run to reach US$ 4.1 billion in 2035.
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Drivers:
- Demand for Decarbonized Industry: Sectors like steel, cement, and ammonia production are adopting green hydrogen.
- Expansion of Renewable Capacity: Solar and wind growth creates surplus power that can be stored as hydrogen.
- Government Subsidies and Green Hydrogen Targets: Europe, Australia, and parts of the U.S. are subsidizing electrolyzer deployment.
Challenges:
- Grid Integration and Intermittency: Variable power input affects PEM electrolyzer stability and efficiency.
- Cost Parity with Grey Hydrogen: Green hydrogen must become economically competitive with fossil-based production.
Opportunities:
- Gigawatt-Scale Projects: Large electrolyzer projects across the EU, Middle East, and Asia will drive down costs.
- Innovative Electrolyzer Stack Designs: Manufacturers are working on modular stacks to simplify deployment and scaling.
Trends:
- Green Hydrogen for Export: Countries like Australia and Morocco are targeting hydrogen exports to Europe and Asia.
- Industrial Clusters and Hydrogen Valleys: Coordinated infrastructure for production, storage, and end-use is accelerating.
Conclusion:
PEM electrolyzers are at the heart of the green hydrogen revolution. With innovation and scale, they will be pivotal in creating a carbon-free hydrogen supply chain.
