Polymer Electrolyte Membrane Fuel Cells Market 2020: Global Industry Share, Demand, Revenue, Size, Trends, Development, Opportunity, Growth Factors, Gross Margin, Major Companies, Value Chain, and 2026 Forecast

The Global Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market Research Report 2020-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The report also takes into account the impact of the novel COVID-19 pandemic on the Polymer Electrolyte Membrane Fuel Cells (PEMFCs) market and offers a clear assessment of the projected market fluctuations during the forecast period. The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The market for polymer electrolyte membrane (PEM) fuel cells is expected to grow at a CAGR of approximately 15.28% during the forecast period of 2020 - 2025. 

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Top Key Players in the Global Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market: Ballard Power Systems, Plug Power Inc., Hydrogenics Corporation, ITM Power PLC, PowerCell Sweden AB, and Intelligent Energy Limited.

Key Market Trends

Increasing Demand from the Transportation Sector

- As the transportation sector accounts for one of the largest emitters of greenhouse gas (GHG) emissions, several countries in the region have been actively looking for the deployment of cleaner solutions, such as fuel cells based electric vehicles.
- The United States leads the global fuel cell electric vehicle (FCEV) deployed worldwide, as of 2018, accounting for approximately 4600 FCEVs being registered in the country. California leads the deployment, where the Zero Emission Vehicle Program has significantly supplemented the sales of FCEVs and is expected to remain the same in the coming years. As the demand for polymer electrolyte membrane fuel cells depends on the FCEVs deployed, the increasing deployment of FCEVs is expected to supplement the demand for polymer electrolyte membrane fuel cells.
- Automotive giants, such as Toyota and Hyundai, have also ventured into polymer electrolyte membrane stack cell technology, in a bid to reduce the overall production costs of FCEVs. Such collaborative efforts by the government and industry players are expected to result in significant cost reduction of polymer electrolyte membrane fuel cells and FCEVs, and in turn, increase the demand for polymer electrolyte membrane fuel cells in the country.
- In 2018, Hyundai Motor and Beijing-Tsinghua Industrial R&D Institute (BTIRDI), signed a memorandum of understanding (MOU), to establish a Hydrogen Energy Fund of value USD 100 million, to support the adopting of fuel cell vehicle in China, which is likely to drive the market for polymer electrolyte membrane fuel cells in China, in coming years.
- Countries, such as Germany, the Netherlands, and France, have also been taking notable steps to promote the deployment of fuel cell electric vehicles (FCEVs) and fuel cells-based forklift and applications, such as data centers, in a bid to reduce oil consumption and GHG emission, which, in turn, is expected to supplement the demand for polymer electrolyte membrane fuel cells in the coming years.

Asia-Pacific Region to Dominate the Market

- The Asia-Pacific is one of the promising regional markets for polymer electrolyte membrane fuel cells in the coming years, on account of various government policies in China, and Japan that are driving the clean energy usage like fuel cell technologies. Among the available fuel cell technologies, the polymer electrolyte membrane fuel cells are the most commonly used fuel cell in the region.
- In China, polymer electrolyte membrane fuel cells are one of the major focus areas of the Energy Technology Revolution and Innovation Initiative (2016-2030). Companies such as Ballard Power Systems have already started developing strategic relationships in the country. For instance, the company had recently entered into a strategic collaboration with Weichai Power Co., Ltd for the establishment of a joint venture to support the burgeoning FCEV market in China. The collaboration also includes a commitment by Weichai Power to build and supply a minimum of 2,000 fuel cell modules for commercial vehicles in the country and a USD 90 million technology transfer program to the Joint Venture-related to Ballards next-generation LCS fuel cell stack and power modules for bus, commercial truck and forklift applications in the country.
- Tokyo Metropolitan Governments (TMGs) plan to power several operations in 2020 Olympic and Paralympics games, which will be held at Tokyo, using fuel cell technology has further created ample opportunity for investment in polymer electrolyte membrane fuel cells for the private sector.
- South Korea also has a strategic focus on increasing the adoption of fuel cell vehicles, in the coming years. For instance, in June 2018, the South Korean government and businesses agreed to invest some 2.6 trillion, won over the next five years, to proliferate the hydrogen gas-powered vehicle industrial ecosystem in the country. It is expected that around 100,000 units of fuel cell cars will be deployed and the installation of 210 hydrogen stations will be done by 2025.
- Other countries in the region, such as India are also focusing on a road map for the use of hydrogen energy and fuel cell technology in the transport sector that is anticipated to create market opportunities for polymer electrolyte membrane fuel cell business in the near future.

Investigator Observers Strong Growth in Specific Regions:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, etc.)
Middle East & Africa (Saudi Arabia, Egypt, Nigeria, and South Africa)

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This MEMS Market statistical surveying report underlines the leading merchants in this market everywhere throughout the world. This sector of the report includes market depictions, requirements, and product portrayals, manufacture, competence, contact figures, cost, and revenue. In a comparable way, automated gathering, upstream raw materials, and downstream demand studies are administered.

Table of Contents:

Executive Summary: It includes key trends of the Polymer Electrolyte Membrane Fuel Cells (PEMFCs) market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the Polymer Electrolyte Membrane Fuel Cells (PEMFCs) market based on production and revenue.

Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Polymer Electrolyte Membrane Fuel Cells (PEMFCs) market.

Market Segments: This part of the report discusses product type and application segments of the Polymer Electrolyte Membrane Fuel Cells (PEMFCs) market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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