Proton Energy Membrane Fuel Cell (PEMFC) Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Proton Energy Membrane Fuel Cell (PEMFC) Market grew at a CAGR of 21.3% between 2017-2021 and is estimated to be US$ 1,978.5Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 24.1% and is expected to reach a valuation of US$ 17,141.7Mn by 2032 end.
A hydrogen-based fuel cell called a proton exchange membrane fuel cell (PEMFC) comprises a unique proton-conducting polymer electrolyte membrane. This fuel cell’s electrodes are made of platinum. PEMFC uses the electrochemical reaction between hydrogen and oxygen to convert the chemical energy released into electrical power.
PEMFC can operate in temperatures between 50 and 1000 degrees Celsius. The main benefit that will propel the adoption of PEMFC over the predicted period is the reaction’s only water-based waste in the fuel cell. The fuel cell is regarded as the ideal solution for the transportation sector due to this feature.
ChemView Consulting has analyzed that proton exchange membrane fuel cells are employed as a power source in a variety of fixed and mobile applications, as well as transportation-related, which enables the global energy infrastructure to be strengthened and diversified. It offers a safe, dependable, and more energy-efficient way to meet the continuously expanding electricity needs.
Automotive had the greatest revenue share in the market, with a share of 28.49%. Automobiles, forklifts, telecoms, backup power systems, and primary systems extensively use the product. The stationary category is anticipated to keep its top spot thanks to high efficiency and versatile products.
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Segments Covered in Report
By Type:
- High Temperature
- Low Temperature
By Material:
- Membrane Electrode Assembly
- Hardware
By Application:
- Automotive
- Portable
- Stationary
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Proton Energy Membrane Fuel Cell (PEMFC) Market
- Based on the type, today, the high-temperature market accounted for the highest sales (68%). The German Federal Ministry of Education and Research’s KMU-NetC initiative’s UltraPress research team demonstrated a novel and advanced hot-pressing method using Ultrahigh-performance Concrete (UHPC) machines to produce bipolar plates in FCs in December 2020. This invention can significantly enhance their performance by reducing the cycle time and production costs of high-temperature proton exchange membrane fuel cells.
- Based on the application, automotive had the greatest revenue share in the market, with a share of 28.49%. Automobiles, forklifts, telecoms, backup power systems, and primary systems extensively use the product. The stationary category is anticipated to keep its top spot thanks to high efficiency and versatile products.
- Based on the region, the Asia Pacific region accounted for 46.5% of the market. During the projected period, demand for H2 power farms will increase due to favorable government policies in developed nations and eco-friendly goals to reduce the rate of emission. Governments of industrialized countries are likely to place more focus on expansion.
Competition Summary
Key companies covered in the market study are Intelligent Energy Limited; Plug Power Inc.; ITM Power PLC; Ballard Power Systems; PowerCell Sweden AB; Cummins Inc.; AVL; Nedstack Fuel Cell Technology BV; Horizon Fuel Cell Technologies; Altergy; Infinity Fuel Cell and Hydrogen, Inc.; Loop Energy Inc.; NUVERA FUEL CELLS, LLC; ElringKlinger AG; W. L. Gore & Associates, Inc.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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