Proton Exchange Membrane Fuel Cell Market 2023-2030 - Advancement in Fuel Cell Technology and Reduced Production Costs Propel Market Growth

Dublin, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The "Proton Exchange Membrane Fuel Cell Market Size, Share & Trends Analysis Report By Type (High Temperature, Low Temperature), By Material (Membrane Electrode Assembly, Hardware), By Application, By Region, And Segment Forecasts, 2023 - 2030" report has been added to's offering.

The global proton exchange membrane fuel cell market size is expected to reach USD 13.85 billion by 2030. 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.

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

Market Driver Impact Analysis

  • Increasing Demand for Clean and renewable energy sources
  • Advancement in fuel cell technology and reduced production costs

Market Restraint Impact Analysis

  • Limited Hydrogen Infrastructure

Key Topics Covered:

Chapter 1 Methodology & Scope

Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Segment Snapshot
2.4 Competitive Landscape Snapshot

Chapter 3 Market Variables, Trends, & Scope
3.1 Penetration & Growth Prospect Mapping
3.2 Industry Value Chain Analysis
3.3 Regulatory Framework
3.4 Market Dynamics
3.5 Technology Overview
3.6 Business Environment Analysis: PEMFC Market
3.7 Impact of COVID-19 on PEMFC Market
3.7.1 Challenges Delays in projects due to supply chain disruptions Lack of demand from residential and commercial buildings
3.7.2 Steps Taken
3.7.3 Impact Verdict - Medium
3.8 East European Geopolitical Implications on PEMFC Market
3.9 Overview of Global Potential of ePTFE Membranes Used in PEMFC Market, 2018 - 2030 (Million Square Meters) (USD Million)

Chapter 4 Proton Exchange Membrane Fuel Cell Market: Application Estimates & Trend Analysis
4.1 Application Movement Analysis & Market Share, 2022 & 2030
4.2 Proton Exchange Membrane Fuel Cell Market Estimates & Forecast, By Application (USD Million)
4.2.1 Automotive
4.2.2 Stationary
4.2.3 Portable
4.2.4 Others

Chapter 5 Proton Exchange Membrane Fuel Cell Market: Type Estimates & Trend Analysis
5.1 Type Movement Analysis & Market Share, 2022 & 2030
5.2 Proton Exchange Membrane Fuel Cell Market Estimates & Forecast, By Type (USD Million)
5.2.1 High Temperature
5.2.2 Low Temperature

Chapter 6 Proton Exchange Membrane Fuel Cell Market: Material Estimates & Trend Analysis
6.1 Material Movement Analysis & Market Share, 2022 & 2030 (%)
6.2 Proton Exchange Membrane Fuel Cell Market Estimates & Forecasts, by Material, 2018 - 2030 (USD Million)
6.2.1 Membrane Electrode Assembly
6.2.2 Hardware
6.2.3 Others

Chapter 7 Proton Exchange Membrane Fuel Cell Market: Regional Estimates & Trend Analysis

Chapter 8 Proton Exchange Membrane Fuel Cell Market: Competitive Landscape

  • 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

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