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Proton Exchange Membrane Fuel Cell Market: Industry Demand, Analysis and Future Trends 2030

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Sara James
Proton Exchange Membrane Fuel Cell Market: Industry Demand, Analysis and Future Trends 2030

The global Proton Exchange Membrane Fuel Cell Market size is expected to reach USD 13.85 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 18.1% from 2023 to 2030. The rising pressure across the globe to reduce carbon emissions through supporting energy safety is a factor supporting the growth of the PEMFC market. Government funding is being exchanged by business funding and which in turn displayed positive growth throughout the projected period. PEMFC is expected to emerge as the most dominant form of fuel cell owing to its ability to suit both transportation and stationary applications. It is a popular choice for transportation applications due to its unique characteristics that make it a suitable alternative to conventional power sources. Unlike other fuel cell technologies, PEMFCs can start quickly. This feature is crucial for applications in the transportation sector where quick startups are essential.

The market is likely to witness strategic alliances to expand end-user segments in emerging markets. Public-private partnerships are expected to be critical for attaining an economically viable technological shift. The introduction of sustainable technologies to replace the existing power generation technologies is anticipated to lead to high costs, which is projected to challenge the innovations carried out by key market players like Intelligent Energy Limited, Plug Power Inc., ITM Power PLC, Ballard Power Systems, PowerCell Sweden AB, Cummins Inc.

Related Press Release@ Proton Exchange Membrane Fuel Cell Market Report

Proton Exchange Membrane Fuel Cell Market Report Highlights

  • In terms of revenue, the portable segment accounted for a significant share of the market in 2022 and is further expected to witness steady growth over the forecast period
  • Asia Pacific region is projected to grow at a substantial rate throughout the forecast period. Japan is expected to account for the maximum share in the Asia-Pacific region
  • Automotive segment dominated the industry, accounting for 63.84% of total market revenue in 2022
  • High-temperature segment accounted for the largest share of 59.39% in the market in 2022
  • North America is likely to display a substantial growth rate during the projected period

Proton Exchange Membrane Fuel Cell Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 4.32 billion

Revenue forecast in 2030

USD 13.85 billion

Growth Rate

CAGR of 18.1% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

 

Proton Exchange Membrane Fuel Cell Market Segmentation

Grand View Research has segmented the global proton exchange membrane fuel cell market based on application, material, type, and region:

Proton Exchange Membrane Fuel Cell (PEMFC) Type Outlook (Revenue, USD Million, 2018 - 2030)

  • High Temperature
  • Low Temperature

Proton Exchange Membrane Fuel Cell (PEMFC) Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Membrane Electrode Assembly
  • Hardware
  • Others

Proton Exchange Membrane Fuel Cell (PEMFC) Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Automotive
  • Stationary
  • Portable
  • Others

Proton Exchange Membrane Fuel Cell (PEMFC) Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  •  Germany
  • Spain
  • Italy
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Central and South America
  • Brazil
  • Middle East and Africa
  • South Africa

List of Key Players of the Proton Exchange Membrane Fuel Cell (PEMFC) Market

  • 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


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researchinsights 2023-06-20
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Key Companies in this theme:  • Fuel Cell Energy, Inc. The penetration of hydrogen fuel will potentially negate the fossil fuel concerns that have plagued the globe. A strong commitment to the social pillar to provide fuel cell power for a sustainable world will help companies position themselves in the industry. Is your business one of participants to the Fuel Cell Industry? For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research
Hydrogen Fuel Cell Market By Application: Stationary, Transportation, Portable
Delvens 2024-04-15
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The global Hydrogen Fuel Cell Market analysis report covers market shares for Global, Europe, North America, Asia Pacific and South America. According to a new report published by Delvens, titled, “Hydrogen Fuel Cell Market by Type (Proton Exchange Membrane Fuel cells, Phosphoric Acid Fuel Cells, Solid Oxide Fuel Cells, Molten Carbonate Fuel Cells, Others), by Application (Stationary, Transportation, Portable), by End User (Fuel Cell Vehicles, Utilities, Defense) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)”, the Hydrogen Fuel Cell Market size was estimated at USD 3. Companies in the hydrogen fuel cell market are developing new technologies to reduce the weight, manufacturing costs, and component requirements of hydrogen fuel cells. Recent DevelopmentsIn March 2022, two companies, Ceres and HORIBA MIRA, formed a partnership to work together on fuel cell testing and creating a Ceres fuel cell test facility. com/Inquire-before-buying/hydrogen-fuel-cell-market-trends-forecast-till-2030Hydrogen Fuel Cell Market Segmentation:Hydrogen Fuel Cell Market by Type, by Application, by End User and Region:Global Hydrogen Fuel Cell Market, By TypeProton exchange membrane fuel cellsPhosphoric acid fuel cellsSold oxide fuel cellsPolymer exchange membrane fuel cellsDirect methanol fuel cellsMolten carbonate fuel cellsOthersGlobal Hydrogen Fuel Cell Market, By ApplicationStationaryTransportationPortableGlobal Hydrogen Fuel Cell Market, By End UserFuel cell vehiclesUtilitiesDefenseGlobal Hydrogen Fuel Cell Market, By RegionAsia Pacific JapanChinaIndiaAustraliaSouth KoreaVietnamNew ZealandPhilippinesThailandMalaysiaHong KongTaiwanSingaporeIndonesiaSri LankaRest of Asia-PacificNorth America U.