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 2018-2028

  • Industry : Power
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 2.74 Billion

CAGR (2023-2028)

16.25%

Fastest Growing Segment

 Stationary

Largest Market

Asia Pacific

 

 

 


Market Overview

Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market has valued at USD 2.74 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 16.25 % through 2028. The Polymer Electrolyte Membrane (PEM) Fuel Cell Market refers to the global industry involved in the research, development, manufacturing, and deployment of PEM fuel cell systems and related components. PEM fuel cells are a type of electrochemical device that generate electricity through the reaction of hydrogen and oxygen, with the aid of a polymer electrolyte membrane. These fuel cells are known for their high energy efficiency, low emissions, and ability to provide clean and reliable power for various applications. A Polymer Electrolyte Membrane Fuel Cell, often referred to as a PEM fuel cell, is an electrochemical device that converts the chemical energy of hydrogen and oxygen into electricity, water, and heat through an electrochemical reaction. This process occurs within a stack of individual cells, each containing a proton-conducting polymer electrolyte membrane. PEM fuel cells are used in fuel cell electric vehicles (FCEVs) as a clean and efficient alternative to internal combustion engines. They power vehicles like cars, buses, and trucks. PEM fuel cells are used for stationary power generation in residential, commercial, and industrial settings. They provide backup power, combined heat and power (CHP) systems, and grid support. Small-scale PEM fuel cells are used to power portable electronic devices, such as laptops, smartphones, and camping equipment, offering longer-lasting and cleaner energy sources. Telecom base stations, data centers, and critical infrastructure rely on PEM fuel cells for backup power to ensure continuous operations during power outages. PEM fuel cells are used in forklifts, pallet jacks, and other material handling equipment in warehouses and distribution centers. The PEM fuel cell market is continually evolving due to advancements in technology, increasing environmental concerns, and the pursuit of clean energy solutions. It plays a crucial role in the transition toward a more sustainable and low-carbon energy landscape, offering a promising alternative to traditional fossil fuel-based power generation and transportation systems.

Key Market Drivers

The Polymer Electrolyte Membrane (PEM) Fuel Cell Market is a segment of the clean energy industry that focuses on the development, manufacturing, and deployment of PEM fuel cell systems. PEM fuel cells are known for their high energy efficiency, low emissions, and suitability for various applications, including transportation, stationary power generation, and portable devices. The market is influenced by several key drivers that impact its growth and development. Here are the primary drivers of the PEM fuel cell market: The global push for clean and sustainable energy sources to mitigate climate change and reduce greenhouse gas emissions is a major driver of the PEM fuel cell market. PEM fuel cells produce electricity through a chemical reaction between hydrogen and oxygen, emitting only water vapor as a byproduct, making them a clean energy source. The transportation sector represents a significant opportunity for PEM fuel cells, particularly in fuel cell electric vehicles (FCEVs). Governments and automakers are investing in FCEV technology as an alternative to internal combustion engines, driven by the need to reduce carbon emissions and improve air quality. The development of a hydrogen economy, where hydrogen is produced, stored, and used as an energy carrier, is a strong driver for PEM fuel cells. Hydrogen can be produced from various sources, including renewable energy, and used in fuel cells to generate electricity efficiently. PEM fuel cells can play a role in energy storage applications, such as grid-level energy storage and backup power systems. The need for reliable and efficient energy storage solutions to balance intermittent renewable energy sources drives the market.

Decentralized Energy Generation

PEM fuel cells can be used for distributed or decentralized energy generation. They are well-suited for combined heat and power (CHP) applications, providing both electricity and heat for residential and commercial buildings. Supportive government policies, incentives, and subsidies aimed at promoting clean energy technologies, including fuel cells, encourage investment and adoption of PEM fuel cell systems.

Research and Development

Ongoing research and development efforts to improve the performance, durability, and cost-effectiveness of PEM fuel cell technology are driving advancements in the market. Innovations in materials and manufacturing processes contribute to market growth. Collaboration between countries and international organizations on hydrogen and fuel cell research and development fosters innovation and expands market opportunities. As PEM fuel cell technology matures, it finds applications beyond traditional uses. This includes backup power for telecom infrastructure, off-grid power generation, and small-scale portable fuel cells for consumer electronics. Increasing awareness of clean energy solutions and environmental concerns among consumers and businesses has led to a growing interest in PEM fuel cells as a sustainable and efficient energy source. The expansion of hydrogen refueling infrastructure for FCEVs is a crucial driver for the adoption of PEM fuel cell vehicles. Investments in infrastructure are essential to support the growth of the market. High-profile demonstration projects and pilot programs that showcase the capabilities and benefits of PEM fuel cell technology help build confidence and drive market acceptance. 


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Key Market Challenges

High Manufacturing Costs

One of the primary challenges for PEM fuel cells is their relatively high manufacturing costs, primarily attributed to the use of expensive catalyst materials, such as platinum, in the electrodes. Reducing these costs is essential to make PEM fuel cells more competitive with other energy sources. PEM fuel cells must operate efficiently for extended periods to be economically viable. Ensuring the long-term durability and longevity of fuel cell components, especially the proton-conducting membrane and catalysts, is a significant challenge. The catalysts used in PEM fuel cells are sensitive to factors like contaminants, fuel impurities, and high-voltage cycling. Catalyst degradation can significantly impact the performance and lifespan of the fuel cell. Hydrogen is the primary fuel for PEM fuel cells, and its storage, transportation, and distribution remain significant challenges. Developing efficient, safe, and cost-effective hydrogen infrastructure is essential for the market's growth. The lack of a comprehensive hydrogen fueling infrastructure is a challenge, particularly for the widespread adoption of fuel cell vehicles. Expanding hydrogen refueling stations requires significant investment and coordination. The majority of hydrogen production relies on fossil fuels, which contradicts the goal of clean energy. Developing scalable and sustainable hydrogen production methods, such as electrolysis using renewable energy sources, is a challenge. PEM fuel cells require proper water management to prevent dehydration or flooding of the proton-conducting membrane. Balancing water content within the fuel cell is critical for optimal performance.

Cold Start and Freezing

Operating PEM fuel cells in cold weather conditions can be challenging due to the potential for water freezing within the cell. Developing effective heating and insulation solutions is essential for cold-weather applications. Transitioning from laboratory-scale prototypes to large-scale commercial production is often challenging. Ensuring consistent performance and reliability at scale is a significant hurdle for PEM fuel cell manufacturers. Hydrogen is flammable and poses safety concerns, particularly in transportation applications. Ensuring the safe handling, storage, and use of hydrogen is critical for public acceptance. PEM fuel cells face competition from other clean energy technologies, such as lithium-ion batteries and solid oxide fuel cells, which offer different advantages and may be better suited for certain applications. Inconsistent regulatory frameworks and policies regarding hydrogen and fuel cell technologies can hinder market growth. Clear and supportive regulations are necessary to incentivize adoption. Raising awareness and fostering public trust in fuel cell technology is a challenge. Public perception and understanding of fuel cells, especially in comparison to well-established technologies like internal combustion engines, can impact adoption rates.

Despite these challenges, ongoing research and development efforts, government support, and collaborations between industry and academia are addressing many of these issues. As technology advances, and as clean energy goals become more critical, PEM fuel cells are expected to play a significant role in achieving sustainable and efficient energy solutions. Overcoming these challenges will be essential for the PEM fuel cell market to reach its full potential and contribute to a cleaner and more sustainable energy future.

Key Market Trends

Government Initiatives and Growing Private Investments are Expected to Drive the Market

The PEM fuel cell market witnessed significant growth in the last two years, mainly due to the introduction of government initiatives in key markets and increasing investment support from the private sector. The Californian Energy Commission's Alternative and Renewable Fuel and Vehicle Technology Program, a government initiative in 2013, established long-term authority to co-fund the first 100 retail hydrogen stations. This encouraged the private sector to invest in the fuel cell market. The Californian Fuel Cell Partnership aims for a network of 1,000 hydrogen stations and a fuel cell vehicle population of up to 1,000,000 vehicles by 2030. The target reflects the input and consensus of more than 40 partners, including fuel cell technology companies, automakers, energy companies, government agencies and non-governmental organizations, and universities. In February 2022, a project showed that high-temperature polymer electrolyte membrane fuel cells (HT-PEMFCs) offer an attractive solution to electrify heavy-duty vehicles and other large-scale mobility applications due to effective heat rejection. Moreover, multiple institutions, including LANL (Katie Lim), Sandia National Labs (Cy Fujimoto), Korea Institute of Science and Technology (Jiyoon Jung), University of New Mexico (Ivana Gonzales), University of Connecticut (Jasna Jankovic), and Toyota Research Institute of North America (Zhendong Hu and Hongfei Jia) were involved in this p Among fuel cells, the PEM type is the most popular one. It is expected to play a crucial role in Europe's target for fuel cell deployment and drive the PEM fuel cells market.

In February 2022, scientists of the Los Alamos National Laboratory developed a new polymer fuel cell that operates at higher temperatures. The long-standing issue of overheating, one of the biggest technical obstacles to using medium- and heavy-duty fuel cells in vehicles, such as trucks and buses, was resolved by a new high-temperature polymer fuel cell that operates at 80-160 degrees Celsius and has a higher rated power density than cutting-edge fuel cells. Furthermore, there is a rise in fuel cell-based vehicle demand worldwide. North Korea and the United States are the leading countries in the world in terms of stock of fuel cell-based vehicles. In 2021, North Korea and the United States had 38% and 24% of world fuel cell-based vehicle stock, respectively. Hence, such government initiatives and investments are likely to propel the market during the forecast period. Therefore, owing to the abovementioned factors, government initiatives and growing private investments in PEMFC technology are expected to drive the market during the forecast period.

Segmental Insights

End Use Insights

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. PEM fuel cells are used in fuel cell-powered vehicles, such as buses, cars, and trucks. 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. PEM fuel cells are used in a variety of industrial applications, such as data centers, telecommunications, and manufacturing. 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. PEM fuel cells are used in a variety of commercial applications, such as hospitals, hotels, and shopping malls. 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 solutions. PEM fuel cells are used in a variety of residential applications, such as homes and apartments. 


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Regional Insights

The Asia pacific region has established itself as the leader in the Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market with a significant revenue share in 2022. 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 in countries such as China, Japan, and South Korea. China is considered to have the highest potential for PEMFC as the hydrogen fuel cell industry in the country has been gaining traction on the back of favorable national and provincial government subsidies and incentive programs from local authorities, mainly to encourage the uptake of hydrogen vehicles to cut pollution. Along with the potentially large market, China has numerous domestic enterprises that manufacture PEMFC. Hence, the country's demand and domestic supply are present, further bolstering the growth of the market. Moreover, Chinese companies seek to build their electrolyzer manufacturing capacity to 1.5-2.5 GW in 2022 to supply domestic and overseas markets. Therefore, owing to the abovementioned factors, the Asia-Pacific is expected to dominate the market during the forecast period.

Recent Developments

  • China has plans to manufacture 100,000 to 200,000 tonnes of renewable hydrogen annually and have a fleet of 50,000 hydrogen-fueled vehicles by 2025. China is currently the world's largest market for fuel-cell trucks and buses and the third-largest for fuel-cell electric vehicles (FCEVs).
  • Indian Scientists have indigenously developed platinum-based electrocatalysts for fuel cells through an efficient procedure. This electrocatalyst showed comparable properties to the commercially available electrocatalyst and could enhance the lifetime of the fuel cell stack performance.
  • August 2022: The National Renewable Energy Laboratory (NREL) began collaborating with Toyota Motor North America (Toyota) through a cooperative research and development agreement to build, install, and evaluate a 1-megawatt (MW) proton exchange membrane (PEM) fuel cell power generation system at NREL’s Flatirons Campus.

Key Market Players

  • 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

 By End Use

By Application

By Region
  • Automotive
  • Industrial
  • Commercial
  • Residential
  • Stationary
  • Portable
  • Transport
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market, By End Use :

o   Automotive

o   Industrial

o   Commercial

o   Residential

  • Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market, By Application:

o   Stationary

o   Portable

o   Transport

  • Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Indonesia

o   Europe

§  Germany

§  United Kingdom

§  France

§  Russia

§  Spain

o   South America

§  Brazil

§  Argentina

o   Middle East & Africa

§  Saudi Arabia

§  South Africa

§  Egypt

§  UAE

§  Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market.

Available Customizations:

Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.3.  Markets Covered

1.4.  Years Considered for Study

1.5.  Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By End Use (Automotive, Industrial, Commercial, Residential )

5.2.2.    By Application (Stationary, Portable, Transport)

5.2.3.    By Region

5.3.  By Company (2022)

5.4.  Market Map

6.    North America Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By End Use

6.2.2.    By Application

6.2.3.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By End Use

6.3.1.2.2.           By Application

6.3.2.    Canada Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By End Use

6.3.2.2.2.           By Application

6.3.3.    Mexico Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By End Use

6.3.3.2.2.           By Application

7.    Asia-Pacific Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By End Use

7.2.2.    By Application

7.2.3.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By End Use

7.3.1.2.2.           By Application

7.3.2.    India Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By End Use

7.3.2.2.2.           By Application

7.3.3.    Japan Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By End Use

7.3.3.2.2.           By Application

7.3.4.    South Korea Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By End Use

7.3.4.2.2.           By Application

7.3.5.    Indonesia Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By End Use

7.3.5.2.2.           By Application

8.    Europe Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By End Use

8.2.2.    By Application

8.2.3.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By End Use

8.3.1.2.2.           By Application

8.3.2.    United Kingdom Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By End Use

8.3.2.2.2.           By Application

8.3.3.    France Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By End Use

8.3.3.2.2.           By Application

8.3.4.    Russia Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By End Use

8.3.4.2.2.           By Application

8.3.5.    Spain Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By End Use

8.3.5.2.2.           By Application

9.    South America Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By End Use

9.2.2.    By Application

9.2.3.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By End Use

9.3.1.2.2.           By Application

9.3.2.    Argentina Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By End Use

9.3.2.2.2.           By Application

10. Middle East & Africa Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By End Use

10.2.2. By Application

10.2.3. By Country

10.3.             Middle East & Africa: Country Analysis

10.3.1.  Saudi Arabia Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By End Use

10.3.1.2.2.         By Application

10.3.2. South Africa Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By End Use

10.3.2.2.2.         By Application

10.3.3. UAE Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By End Use

10.3.3.2.2.         By Application

10.3.4. Israel Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By End Use

10.3.4.2.2.         By Application

10.3.5. Egypt Polymer Electrolyte Membrane (PEM) Fuel Cell Market Outlook

10.3.5.1.     Market Size & Forecast

10.3.5.1.1.         By Value

10.3.5.2.     Market Share & Forecast

10.3.5.2.1.         By End Use

10.3.5.2.2.         By Application

11. Market Dynamics

11.1.   Drivers

11.2.   Challenge

12. Market Trends & Developments

13. Company Profiles

13.1.             Ballard Power Systems.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2.             Plug Power.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3.             Bloom Energy.

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4.             FuelCell Energy.

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5.             Hydrogenics (now part of Cummins Inc.).

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6.             Nuvera Fuel Cells.

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7.             Doosan Fuel Cell America.

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8.             Nel Hydrogen.

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9.             Advent Technologies.

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

13.10.           SFC Energy.

13.10.1.              Business Overview

13.10.2.              Key Revenue and Financials

13.10.3.              Recent Developments

13.10.4.              Key Personnel

13.10.5.              Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market was USD 2.74 Billion in 2022.

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The Global Polymer Electrolyte Membrane (PEM) Fuel Cell Market is dominated by the Stationary segment in 2022.

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One of the primary challenges for PEM fuel cells is their relatively high manufacturing costs, primarily attributed to the use of expensive catalyst materials, such as platinum, in the electrodes. Reducing these costs is essential to make PEM fuel cells more competitive with other energy sources.

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Supportive government policies, incentives, and subsidies aimed at promoting clean energy technologies, including fuel cells, encourage investment and adoption of PEM fuel cell systems.

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Parvati Sharma

Account Manager BD
Press Release

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

Sep, 2023

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 forecas

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