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Global Proton Exchange Membrane Fuel Cell Market Share, Trends, Size, Analysis, Forecast: By Type: Low Temperature, High Temperature; By Application: Transportation, Portable Power Generation, Stationary Power Generation, Others; Regional Analysis; Market Dynamics; Competitive Landscape; Industry Events and Developments; 2023-2028

Global Proton Exchange Membrane Fuel Cell Market Outlook

The global proton exchange membrane fuel cell market size reached a value of USD 2.2 billion in 2021, driven by the rising initiatives by various governments to adopt electric vehicles.

 

Key Trends in the Market

Proton exchange membrane fuel cells, also known as polymer electrolyte membrane (PEM) fuel cells (PEMFC), are a type of fuel cell that is developed for transportation uses, in addition to portable fuel cell applications and stationary fuel cell applications. They can operate at lower pressures and temperatures and have a unique proton-conducting polymer electrolyte membrane. In contrast to PEM electrolysis, which uses electricity, PEMFCs produce electricity and work on the exact same principles. They are one of the leading candidates to replace the outdated, space shuttle-era alkaline fuel-cell technology.

 

  • Many businesses are adopting proton exchange membrane fuel cells due to the growing need to diversify and strengthen the energy infrastructure. Unlike fossil fuels, they are reliable, clean, and energy efficient. They also don't produce harmful gases like sulphur oxide, nitrogen oxide, and carbon dioxide. The proliferation of hydrogen is also anticipated to accelerate the proton exchange membrane fuel cell market growth in the near future.
  • Companies are being required to adopt efficient and pollution-free energy producing techniques by the enforcement of strict rules and regulations by various governments regarding the emission of greenhouse gases and carbon. Governments all over the world are advancing fuel cell initiatives by supporting and subsidising fuel cell producers.
  • The demand for the proton exchange membrane fuel cell market from the transportation industry will likely expand as a result of rising consumer awareness of clean energy options and an increase in advantageous subsidies to support fuel cell electric vehicles. Recent technological developments, such as the use of highly effective portable technology, are more likely to produce lucrative chances for the market's expansion over the forecast period.

 

Global Proton Exchange Membrane Fuel Cell Market Analysis

Based on type, the market is segmented into low temperature and high temperature. The market, on the basis of application, can be segmented into transportation, portable power generation, and stationary power generation, among others. The regional markets for proton exchange membrane fuel cells can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global proton exchange membrane fuel cell market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Ballard Power Systems Inc.
  • Plug Power Inc.
  • Cummins Inc.
  • Intelligent Energy Limited
  • AVL List GmbH
  • Others

 

Market Share by Application

The transportation applications of proton exchange membrane fuel cells have generated significant revenue in the past few years and are anticipated to continue to do so in the forecast period. This can be attributed to the rising investments by many nations towards improving their hydrogen infrastructure, and replacing fossil fuels in order to reduce atmospheric emissions.

 

Also, there has been an increase in public awareness of the pollution created by automobiles. Therefore, there is a growing emphasis on using green fuel for vehicles, propelling the proton exchange membrane fuel cell market development.

 

Fuel cells provide emission-free power solutions and due to their advantages for the environment, fuel cells are anticipated to see an increase in demand in the near future. The demand for PEM fuel cells in the transportation sector is therefore anticipated to be driven by the increase in demand for fuel cells in automotive applications.

 

Market Share by Region

In the forecast period, it is expected that Asia Pacific will continue to lead the market for proton exchange membrane fuel cells, owing to the increasing initiatives by governments in the region to achieve zero carbon emissions.

 

China is regarded as having one of the highest potentials for proton exchange membrane fuel cells (PEMFC). This is due to favourable national and provincial government subsidies and incentive programmes from local governments, along with promoting the adoption of hydrogen vehicles to reduce pollution.

 

In addition, China also has a large number of indigenous businesses that produce proton exchange membrane fuel cells. As a result, both domestic supply and demand are present in the nation, supporting the proton exchange membrane fuel cell market expansion. India is also accelerating the use of fuel cell technologies.

 

Meanwhile, North America, is expected to experience exponential growth as a result of rising investments in research and development activities and the existence of supportive legislation in the area.

 

During the forecast period, the rising adoption of fuel cells for backup power in data centres and various commercial and industrial applications in countries such as United States and Canada are expected to aid the market growth. Additionally, a rise in awareness of greenhouse gas emissions and the growing use of fuel cells in stationary and automotive applications are anticipated to drive the revenue growth in proton exchange membrane fuel cell market.

 

Competitive Landscape

Ballard Power Systems Inc., a Canadian company, offers innovative renewable energy solutions. Proton exchange membrane (PEM) fuel cell products are created, manufactured, sold, and serviced by the company for use in material handling, backup power, portable power, and power product markets. Among its top offerings are heavy-duty modules, backup power systems, and fuel cell stacks.

 

Plug Power Inc., a leading developer of turnkey hydrogen and fuel cell solutions for the global green hydrogen economy, was established in 1997 and has its headquarters in New York, United States. The company is dedicated to constructing a more reliable and sustainable energy future. To assist clients in achieving their business objectives and decarbonising the economy, the company is constructing an entire ecosystem for green hydrogen, from its production, storage, and distribution to energy generation.

 

Cummins Inc., with its headquarters in Indiana in the United States, is a leader in the production of hybrid engines, diesel and natural gas engines, generators, and electrified power. It is a power technology firm that was established in 1919. Products offered by the company include air handling systems, electric power generating systems, after treatment, electrified power systems, fuel systems, controls systems, turbochargers, filtration, transmissions, and batteries.

 

Other market players include Intelligent Energy Limited and AVL List GmbH, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Low Temperature
  • High Temperature
Breakup by Application
  • Transportation
  • Portable Power Generation
  • Stationary Power Generation
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ballard Power Systems Inc.
  • Plug Power Inc.
  • Cummins Inc.
  • Intelligent Energy Limited
  • AVL List GmbH
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Proton Exchange Membrane Fuel Cell Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Proton Exchange Membrane Fuel Cell Historical Market (2018-2022) 
    8.3    Global Proton Exchange Membrane Fuel Cell Market Forecast (2023-2028)
    8.4    Global Proton Exchange Membrane Fuel Cell Market by Type
        8.4.1    Low Temperature
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    High Temperature
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Proton Exchange Membrane Fuel Cell Market by Application
        8.5.1    Transportation
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Portable Power Generation
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Stationary Power Generation 
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Others
    8.6    Global Proton Exchange Membrane Fuel Cell Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Ballard Power Systems Inc. 
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Plug Power Inc.  
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Cummins Inc.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Intelligent Energy Limited  
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    AVL List GmbH 
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments


List of Key Figures and Tables

1.    Global Proton Exchange Membrane Fuel Cell Market: Key Industry Highlights, 2018 and 2028
2.    Global Proton Exchange Membrane Fuel Cell Historical Market: Breakup by Type (USD Million), 2018-2022
3.    Global Proton Exchange Membrane Fuel Cell Market Forecast: Breakup by Type (USD Million), 2023-2028
4.    Global Proton Exchange Membrane Fuel Cell Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Proton Exchange Membrane Fuel Cell Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Proton Exchange Membrane Fuel Cell Historical Market: Breakup by Region (USD Million), 2018-2022
7.    Global Proton Exchange Membrane Fuel Cell Market Forecast: Breakup by Region (USD Million), 2023-2028
8.    North America Proton Exchange Membrane Fuel Cell Historical Market: Breakup by Country (USD Million), 2018-2022
9.    North America Proton Exchange Membrane Fuel Cell Market Forecast: Breakup by Country (USD Million), 2023-2028
10.    Europe Proton Exchange Membrane Fuel Cell Historical Market: Breakup by Country (USD Million), 2018-2022
11.    Europe Proton Exchange Membrane Fuel Cell Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Asia Pacific Proton Exchange Membrane Fuel Cell Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Asia Pacific Proton Exchange Membrane Fuel Cell Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Latin America Proton Exchange Membrane Fuel Cell Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Latin America Proton Exchange Membrane Fuel Cell Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Middle East and Africa Proton Exchange Membrane Fuel Cell Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Middle East and Africa Proton Exchange Membrane Fuel Cell Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Global Proton Exchange Membrane Fuel Cell Market Structure

Key Questions Answered in the Report

In 2021, the global market size for proton exchange membrane fuel cells attained a value of nearly USD 2.2 billion.

The major drivers of the proton exchange membrane fuel cell market include growing need to diversify and strengthen energy infrastructures, recent technological developments, rising expenditures in improving hydrogen infrastructure, increasing government initiatives, rising investments in research and development (R&D) activities, and rapid use of fuel cells in stationary and automotive applications.

The rise in public awareness about green energy and the growing demand for proton exchange membrane fuel cell in the transportation industry are the key industry trends propelling the growth of the market.

The major players in the industry are Ballard Power Systems Inc., Plug Power Inc., Cummins Inc., Intelligent Energy Limited, and AVL List GmbH, among others.

A proton exchange membrane fuel cell turns the chemical energy released during the electrochemical reaction of hydrogen and oxygen into electrical energy.

PEMFCs benefit from quick start up, fuel input flexibility, small design, light weight, low cost, and electrolyte firmness. They are suitable for both stationary and mobile applications.

A PEM fuel cell lifetime is of around 5 years, or more than 40,000 hours of continuous operation.

The primary types of proton exchange membrane fuel cells in the market are low temperature and high temperature.

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