Polymer Electrolyte Membrane Fuel Cells Market: Global Industry Analysis and Forecast (2023-2029)

Polymer Electrolyte Membrane Fuel Cells Market size is expected to reach 6.75 US$ Bn in year 2029, at a CAGR of 15.35% during the forecast period.

According to Maximize Market Research, the Polymer Electrolyte Membrane Fuel Cells market is expected to grow at a moderate growth rate and reach a significant market value by the end of the forecast period.

Polymer Electrolyte Membrane Fuel Cells Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Polymer Electrolyte Membrane Fuel Cells Market report also provides trends by market segments, technology, and investment with a competitive landscape.



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Polymer Electrolyte Membrane Fuel Cells Market Overview:
Polymer Electrolyte Membrane Fuel Cell Market, otherwise called proton-exchange fuel cell market, is a kind of energy unit that is being grown essentially for transport applications. They are additionally being created for fixed power module and versatile energy unit applications. PEM power modules have separating highlights, for example, lower temperature and pressing factor that goes from 50°C to 100°C; and a unique proton-leading polymer electrolyte fuel.

They produce power and work on the contrary guideline to PEM electrolysis, which devours power. PEM energy units are probably going to supplant the maturing soluble power device innovation, which is being utilized in space transport. PEM energy components are utilized in different applications. They are essentially utilized in the transportation business attributable to their positive effect on the climate, for example, control of emission of greenhouse gases. Different applications incorporate disseminated fixed and versatile force age. The greater part of the main engine organizations works exclusively on PEM energy units because of their powerful thickness and amazing unique attributes contrasted with different sorts of energy units.
Polymer Electrolyte Membrane Fuel Cells Market Dynamics:
Expansion sought after for clean energy is driving the Polymer Electrolyte Membrane Fuel Cell Market. Ascend in the center around the utilization of power device innovation as a wellspring of energy and development in concerns with respect to contamination brought about by ordinary wellsprings of energy are likewise enlarging the worldwide Polymer Electrolyte Membrane Fuel Cell Market. PEM power device utilizes a water-based, acidic polymer fuel as its electrolyte, with platinum-based cathodes.

PEM energy units work at generally low temperatures (beneath 100°C) and can tailor electrical yield to meet unique force necessities. These cells should work on unadulterated hydrogen because of the generally low temperatures and the utilization of valuable metal-based cathodes. Right now, the PEM cell market is the main innovation for light obligation vehicles and material dealing with vehicles. Moreover, innovative progressions, R&D work related to energy unit advances, and worldwide responsibility toward the decrease of ozone harming substance emanations from the force area are probably going to drive the PEM power device market.

The current cost of polymer electrolyte membrane fuel cell technology is a major barrier to commercial use, stationary, and transportation.

Trucks and other weighty vehicles have become the main area for the polymer electrolyte fuel cell market during 2018. Likewise, the marine area is relied upon to observe the appropriation of polymer electrolyte layer fuel in the coming long time for providing capacity to lodging activities during docking and for different purposes, mostly because of IMO's outflow guidelines on the marine area.

There are tremendous freedoms offered, including the utilization of polymer electrolyte fuel-based cell market as substitutions for inner ignition motors in light-obligation vehicles and distribution center forklifts to expand vehicle proficiency and backing the objectives of decreasing oil utilized and thus, discharges from the transportation area. This has brought about a critical expansion in the organization of the polymer electrolyte layer energy components in North America.

Asia-Pacific is relied upon to rule the worldwide polymer electrolyte fuel cell market in 2019, with China holding the significant offer. The central point ascribing to the development are the approaches started by different governments in nations, similar to China and Japan, to drive clean energy utilization.
Polymer Electrolyte Membrane Fuel Cells Market Segment Analysis:
Based on the membrane type, the Polymer Electrolyte Membrane Fuel Cell Market can be segmented into electrodes, gas diffusion layer, and others.


Polymer Electrolyte Membrane Fuel Cells Market Regional Analysis:
The Asia Pacific to dominate the market:
The Asia-Pacific is one of the promising territorial business sectors for the polymer electrolyte fuel cell market in the coming years, by virtue of different governments' approaches in China and Japan that are driving the perfect energy utilization like power device advances. Among the accessible energy unit innovations, the polymer electrolyte fuel cell market is the most regularly utilized energy unit around there.

In China, the polymer electrolyte fuel cell market is one of the significant center spaces of the Energy Technology Revolution and Innovation Initiative (2016-2030). Organizations, for example, Ballard Power Systems have effectively begun creating key connections in the country. For example, the organization had as of late went into essential cooperation with Weichai Power Co.Ltd to build up a joint dare to help the expanding FCEV market in China.

The coordinated effort additionally incorporates a responsibility by Weichai Power to assemble and supply at least 2,000 energy unit modules for business vehicles in the country and a USD 90 million innovation move program to the joint endeavor identified with Ballard's cutting edge LCS energy unit stack and force modules for transport, business truck, and forklift applications in the country.

Tokyo Metropolitan Government's (TMG's) plan to control a few activities in the 2020 Olympic and Paralympics games, which will be held at Tokyo, utilizing power device innovation, has additionally set out abundant freedom for interest in polymer electrolyte layer energy units for the private area.

South Korea likewise has an essential spotlight on expanding power device vehicles' appropriation in the coming years. For example, in June 2018, the South Korean government and organizations consented to contribute some 2.6 trillion, prevailed upon the following five years, to multiply the country's hydrogen gas-controlled vehicle mechanical environment. It is normal that around 100,000 units of energy component vehicles will be conveyed, and the establishment of 210 hydrogen stations will be finished by 2025.

Different nations around there, like India, are additionally zeroing in on a guide for the utilization of hydrogen energy and power module innovation in the vehicle area that is expected to set out market open doors for polymer electrolyte fuel power module business soon.

The Polymer Electrolyte Membrane Fuel Cell Market in North America is expected to follow that in the Asia Pacific during the conjecture time frame. The U.S. is assessed to rule the Polymer Electrolyte Membrane Fuel Cell Market soon inferable from the increment in center around the arrangement of clean energy arrangements in the country. As indicated by the U.S. Branch of Energy (DOE), the power module innovation is projected to be cost cutthroat contrasted with different choices before the finish of 2018. This thusly is probably going to help the PEM energy unit market in the U.S.
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Polymer Electrolyte Membrane Fuel Cells Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.48 Bn.


Forecast Period 2023 to 2029 CAGR:
15.35%
Market Size in 2029:
US $ 6.75 Bn.


 Segments Covered:
by Type
• Electrodes
• Gas Diffusion Layer
• Others



Polymer Electrolyte Membrane Fuel Cells Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Polymer Electrolyte Membrane Fuel Cells Market Key Players
• DuPont Fuel Cells
• Hitachi Limited
• CMR Fuel Cells PLC
• Panasonic Corporation
• Samsung SDI Company Limited
• Polyfuel Inc.
• Sharp Corporation
• Toshiba Corporation
• Ultracell Corporation
• Fujikura Limited.

Frequently Asked Questions:

1. Which region has the largest share in Global Polymer Electrolyte Membrane Fuel Cells Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Polymer Electrolyte Membrane Fuel Cells Market?
Ans: The Global Polymer Electrolyte Membrane Fuel Cells Market is growing at a CAGR of 15.35% during forecasting period 2023-2029.

3. What is scope of the Global Polymer Electrolyte Membrane Fuel Cells Market report?
Ans: Global Polymer Electrolyte Membrane Fuel Cells Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Polymer Electrolyte Membrane Fuel Cells Market?
Ans: The important key players in the Global Polymer Electrolyte Membrane Fuel Cells Market are – DuPont Fuel Cells, Hitachi Limited, CMR Fuel Cells PLC, Panasonic Corporation, Samsung SDI Company Limited, Polyfuel Inc., Sharp Corporation, Toshiba Corporation, Ultracell Corporation, and Fujikura Limited.

5. What is the study period of this Market?
Ans: The Global Polymer Electrolyte Membrane Fuel Cells Market is studied from 2022 to 2029.