Proton Exchange Membrane Fuel Cell (PEMFC) Market, By Material Type: Membrane Electrode Assembly, Polymer Electrolyte Membrane, & Others.By Application Type: Transport, Stationary & Others. By Region - North America, Europe , Asia-Pacific , LAMEA) - Global Market Analysis, Growth, Trends & Forecast, 2022 to 2032

The global proton exchange membrane fuel cell (PEMFC) market was valued at $1.2 billion in 2021 and it is expected to reach $30.9 billion at a CAGR of 34% between 2022 and 2032. PEMFC adoption is being forced by the urgent need to upgrade and diversify the energy infrastructure across many industries. Unlike fossil fuels, they are reliable, clean, and energy-efficient. They also don't produce harmful gases like sulfur dioxide, carbon dioxide, or nitrogen oxide.

By region, North America has been leading this market with significant growth over the past few years.

A proton exchange membrane fuel cell (PEMFC) uses fuel and airborne oxygen to generate power, heat, and water on demand. Because hydrogen can be produced, for instance, by water electrolysis using power generated from renewable sources, it is recommended as the fuel because it is renewable. Additionally, by supplying the energy storage requirements of electric networks hampered by sporadic renewable energy output, such as solar and wind, fuel cells combined with hydrogen production enhance resilience. More particular, other energy storage methods are inaccessible for power plant ratings below a few megawatts for fuel cell and water electrolysis durations of more than a few days. PEMFCs are commercially available for a few uses, including vehicles, forklifts, and backup and household generators. Because the technology is still in its infancy, improvements in cost, performance, and durability are required to support commercialization efforts.

Source: SAI Research

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Moreover, one of the nations that will influence the supply and demand of energy in the 21st century is India, which has over a billion people and a burgeoning economy. The Indian economy is growing at a significant rate, and this is causing a rapid increase in energy consumption. India must explore all alternatives for fuel and energy source diversification in light of the rising global concern over environmental issues and the need for the nation to have secure access to energy. Hydrogen is anticipated to play a significant role in India's energy mix over the next few decades as the country's economy grows and demands more energy. The national energy policies of India recognize hydrogen as a promising energy storage choice that can deliver clean and efficient energy to suit the needs of the transportation and power sectors.

Furthermore, before enhancing the performance of a fuel cell, it is essential to comprehend the essentials of each component. This chapter makes an effort to offer information and insight into each PEM fuel cell component. PEM fuel cells' technology state and practical applicability are discussed. Before the invention of PEM fuel cells, an overview of the need for futuristic research is provided.

Based on material type, the PEM or polymer electrolyte membrane segment accounted for the largest share of this market. The automotive industry is starting to take clean energy production for transportation purposes more seriously. Utilizing hydrogen technology will increase automotive efficiency, sustainability, and range. Environmentally aware vehicle owners and automotive firms are taking notice of PEM fuel cell systems' improved fuel efficiency, durability, and operational range. Additionally, PEMs are becoming a viable alternative to current fuel cells and have the potential to take the place of both batteries and conventional internal combustion engines. Hence, these primary factors would create more growth opportunities in the future.

In terms of application type, the transport category has led the market over the past few years. This segment is also anticipated to propel market growth with more opportunities. This expansion might be attributed to the rising sums that many nations are investing in improving their hydrogen infrastructure. The transportation sector now controls the majority of the market as a result. The growth of the transportation sector will be further fueled by the increasing expenditures being made by different countries to upgrade their hydrogen infrastructure.

Geographically, the North American region has been leading the global PEMFC market and is also expected to hold its dominant position throughout the upcoming years. Most of the key players in this region are focusing on creating new business strategies such as mergers and acquisitions which would also boost the market growth in the future. The administration has set ambitious aims to encourage the use of hydrogen-powered passenger cars, which are expected to increase regional demand for fuel-cell vehicles. Additionally, the U.S. nation is anticipated to dominate the market in this region with greater growth. On the other hand, the Asia-Pacific region is also estimated to become the second-largest market in the future due to more established manufacturing companies related to PEMFC products.

According to the study, key players such as Ballard Power Systems (Canada), Ceres Power Holding (U.K), Cummins (U.S), Doosan Fuel Cell (U.S), Horizon Cell Technologies (Singapore), ITM Power (U.K), Johnson Matthey (U.K), List PrivatStiftung (Austria), NACCO Industries (U.S), Pragma Industries (France), Plug Power (U.S), SFC Energy (Germany), Umicore (Belgium), Shanghai Shen-Li High Tech Co. (China), among others are leading the global proton exchange membrane fuel cell market.

Scope of the Report:

The Global Proton Exchange Membrane Fuel Cell Market Has Been Segmented Into:

The Global Proton Exchange Membrane Fuel Cell Market – by Material Type:

• Membrane Electrode Assembly
• Polymer Electrolyte Membrane
• Catalyst Layers
• Hardware
• Bipolar Plates
• Gaskets
• Others

 The Global Proton Exchange Membrane Fuel Cell Market – by Application Type:

• Transport
• Stationary
• Others

The Global Proton Exchange Membrane Fuel Cell Market – by Regions:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • U.K.
  • France
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • Australia
  • Rest of Asia Pacific
• LAMEA

• Middle East
• Saudi Arabia
• UAE
• Others
• Latin America
• Brazil
• Chile
• Others
• Africa
• South Africa
• Egypt
• Others