Stationary Segment is Expected to Dominate the Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market.

The current high cost of polymer electrolyte membrane fuel cell technology and the availability of other viable energy systems in the market is expected to hinder the market growth during the forecast period.

 

According to TechSci Research report, “Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market - By Country, Competition, Forecast & Opportunities, 2028”. The Global Polymer Electrolyte Membrane (PEM) Fuel Cell is anticipated to project robust growth in the forecast period with a CAGR of 16.25 % through 2028. The growth of the market is being driven by the increasing demand for fuel cell-powered vehicles, the need for energy storage solutions for renewable energy, and the desire to develop cleaner and more sustainable energy sources.

Development of new PEM fuel cell technologies: There is a growing focus on the development of new PEM fuel cell technologies that offer higher energy density, longer lifespan, and better performance. Increasing government support: Governments around the world are increasingly supporting the development and deployment of PEM fuel cell technologies. This is providing a boost to the market. The military is a major user of PEM fuel cells. PEM fuel cells are used in a variety of applications, such as portable power supplies, backup power systems, and unmanned aerial vehicles. There are a number of fuel cell-powered vehicles that are currently in development or already on the market. This is expected to drive the growth of the PEM fuel cell market in the coming years. PEM fuel cells are typically made up of individual cells that are stacked together. The development of more efficient and compact PEM fuel cell stacks is expected to drive the growth of the market.

PEM fuel cells are still relatively expensive compared to traditional combustion engines. PEM fuel cells are complex devices that require careful manufacturing and maintenance. PEM fuel cells have a shorter lifespan than traditional combustion engines. PEM fuel cells are susceptible to corrosion, which can reduce their lifespan and efficiency. PEM fuel cells require a continuous supply of water to operate, which can be a challenge in some applications.

 

Browse over xx market data Figures spread through 180 Pages and an in-depth TOC on " Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market"

 

 

Based on region, The Asia-Pacific is one of the promising regional markets for polymer electrolyte membrane fuel cells due to favorable government policies for clean energy usage. Therefore, owing to the abovementioned factors, the Asia-Pacific is expected to dominate the market during the forecast period.

Based on End Use, The automotive segment is the largest segment of the PEM fuel cell market. The demand for PEM fuel cells in the automotive segment is being driven by the increasing environmental concerns and the need for cleaner and more sustainable transportation solutions. The industrial segment is the second largest segment of the PEM fuel cell market. The demand for PEM fuel cells in the industrial segment is being driven by the need for backup power systems and energy storage solutions. The commercial segment is the third largest segment of the PEM fuel cell market. The demand for PEM fuel cells in the commercial segment is being driven by the need for backup power systems and energy storage solutions. The residential segment is the smallest segment of the PEM fuel cell market. The demand for PEM fuel cells in the residential segment is being driven by the need for backup power systems and energy storage

 

Recent developments in the Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market are :-

• April 2022: A deal was signed by the German companies SFC Energy and FC TecNrgy to make fuel cells out of methanol and hydrogen in India. The company also announced the launch of the EFOY hydrogen fuel Cell in India, which is expected to play a significant role in meeting the country's hydrogen targets, including plans to produce up to 5 million tonnes of green hydrogen by 2030.
• October 2021: Panasonic Corporation announced that it had developed a pure hydrogen fuel cell generator, which generates power through a chemical reaction with high-purity hydrogen and oxygen in the air.

Key market players in the Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market include:

• Ballard Power System
• Plug Power
• Bloom Energy
• FuelCell Energy
• Hydrogenics (now part of Cummins Inc.)
• Nuvera Fuel Cells
• Doosan Fuel Cell America
• Nel Hydrogen
• Advent Technologies
• SFC Energy

 

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“Fuel cell-powered vehicles are becoming increasingly popular due to their zero-emissions and fuel efficiency. PEM fuel cells are the most common type of fuel cell used in vehicles. Renewable energy sources, such as solar and wind power, are intermittent, so they require energy storage solutions to store energy when it is produced and release it when it is needed. PEM fuel cells can be used as energy storage solutions for renewable energy. PEM fuel cells are considered to be a clean and sustainable energy source. They produce zero emissions and are more efficient than traditional combustion engines. Governments around the world are increasingly supporting the development and deployment of PEM fuel cell technologies. This is providing a boost to the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Polymer Electrolyte Membrane (PEM) Fuel Cell Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By End Use (Automotive, Industrial, Commercial, Residential), By Application (Stationary, Portable, Transport), By Region, Competition 2018-2028has evaluated the future growth potential of Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market.

 

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