Proton Exchange Membrane Fuel Cell (PEMFC) Market Consumption Analysis, Business Overview and Upcoming Trends

The global proton exchange membrane fuel cell market was valued at USD 5.16 billion in 2021 and is expected to expand at a revenue-based compound annual growth rate (CAGR) of 15.6% from 2022 to 2030

Proton exchange membrane fuel cells will become more popular as a result of growing worries about greenhouse gas emissions and laudable government efforts to encourage carbon-free nations (PEMFC). The need for PEMFC will be further fueled by the rise of commercial, medium, light, and heavy-duty vehicles with extremely low-harmful discharges. PEMFC offers a high power density and operates at low temperatures, allowing it to be combined in many applications including stationary and transportation. The U.S. government's funding activities were what spurred the product's development and implementation across North America. The U.S. EPA's Carbon Pollution Standards and other stringent carbon emission rules will further fuel the expansion of the PEMFCs market as a whole.

One of the causes causing the industry to grow more quickly is the increasing requirement for the use of clean vehicle fuel to reduce carbon emissions. As a result of the product's usage of oxygen as an oxidant and fuel, there are no hazardous compounds released into the atmosphere. The climate and energy framework, which establishes a number of goals to reduce carbon release and encourages renewable energy alternatives, was developed in the European zone.

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Numerous policies have been implemented by government authorities in the United States, Canada, Mexico, the United Kingdom, Germany, South Korea, and other nations to develop H2-based fuels and hydrogen refuelling stations for vehicles, which is further estimated to support the development of the product market size. In 2019, the South Korean government declared that it would construct hydrogen refuelling stations in accordance with its policy for hydrogen, which promotes the use of clean energy in the automotive sector.

The key push for Advanced Air Mobility (AAM) to quicken the adoption of vertical takeoff flights powered by hydrogen and electricity was mentioned by the Canadian Advanced Air Mobility Consortium in October 2020. AAM involves providing transportation, emergency, and supply chain services for rural areas using zero-emission hydrogen fuel cells and vertical takeoff aircraft.

It is predicted that governments in the region will encourage expansions by providing support in a variety of ways, including sponsoring research initiatives and establishing appropriate financing packages. The COVID-19 pandemic's effects on the PEMFC market disrupted the supply chain and had an impact on both demand and production.

Market Segmentation
Global Proton Exchange Membrane Fuel Cell (PEMFC) Market: Major Players
Nedstack Fuel Cell Technology
Hydrogenics
Shanghai Shenli Technology Co., Ltd.
ITM Power
Intelligent Energy
Horizon Fuel Cell Technologies
Ballard Power Systems
Umicore
AVL
Nuvera Fuel Cells, LLC
Pragma Industries
Johnson Matthey
Plug Power
ElringKlinger
L. Gore and Associates

Global Proton Exchange Membrane Fuel Cell (PEMFC) Market: By Types
Proton Exchange Membrane Fuel Cell
Phosphoric Acid Fuel Cell
Alkaline Fuel Cell
Microbial Fuel Cell

Global Proton Exchange Membrane Fuel Cell (PEMFC) Market: By Applications
Transportation
Stationary
Others

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Global Proton Exchange Membrane Fuel Cell (PEMFC) Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Proton Exchange Membrane Fuel Cell (PEMFC) market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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