DUBLIN--(BUSINESS WIRE)--The "Proton Exchange Membrane Fuel Cells Market on the basis of Type (Perfluorinated, Partially Fluorinated and Hydrocarbon based), Application (Residential power, Automobiles, Consumer Electronics and Imaging devices), and Geography - Global Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The Proton Exchange Membrane Fuel Cells (PEMFC) Market is projected to grow at the rate of 39.6% CAGR by 2027.
- SFC Energy AG
- AFC Energy PLC
- Doosan Fuel Cell America Inc.
- Nedstack Fuel Cell Technology B.V.
- Ballard Power Systems Inc.
- Toshiba Corporation
- FuelCell Energy Inc.
- Hydrogenics Corporation
- Plug Power Inc.
- Panasonic Corporation
Proton Exchange Membrane Fuel Cell uses two electrodes and a polymer membrane as an electrolyte, a hydrogen-powered electromagnetic cell, offering high power density and poses the capability to operate at lower temperatures. Various core components such as the membrane electrode assembly (MEA), humidifiers, gaskets, bipolar plates, end plates, and current collectors are included in PEM Fuel Cell (PEMFC), which helps produce high efficiency.
One of the significant drivers allowing the growth of the proton exchange membrane fuel cell market is the rising popularity and sales of fuel cell vehicles. Famous car manufacturers such as Hyundai, Toyota, Nissan, and others are attracted to fuel cell electric vehicles (FCEV), fostering the Proton Exchange Membrane Fuel Cell (PEMFC) Market trends. In addition, several initiatives and beneficial policies by governments supporting the adoption of sustainable energy substitutes depict one of the key factors boosting the growth of the proton exchange membrane fuel cell market. However, the surging demand for other electric vehicles and difficulty in managing mass hydrogen stations might limit the market growth.
Based on type, the proton exchange membrane fuel cell market is majorly divided into Perfluorinated, Partially Fluorinated, and Hydrocarbon based. Among them, the perfluorinated segment is projected to witness major growth over the forecast year. The segment's growth is ascribed to the excellent features of the perfluorinated proton exchange membrane fuel cell. Moreover, the perfluorinated proton exchange membrane fuel cell has a wide range of applications, driving the segment growth.
Further, based on the application, the proton exchange membrane fuel cell market is categorized into Residential power, Automobiles, Consumer Electronics, and Imaging devices. The automobiles have the major application of the proton exchange membrane fuel cell. These fuel cells have substantial demand in the automobile industry as the electric vehicles market is growing at a rapid pace, leading to high demand for proton exchange membrane fuel cells. The escalating requirement for clean energy and the increasing need to curb carbon emission has promoted government focus towards the use of electric vehicles and plug-in hybrid vehicles.
The key geographical regions included in the proton exchange membrane fuel cell market are North America, Asia Pacific, Europe, and the RoW. The Asia Pacific region has a major share in the market. This is due to the increasing initiatives by several governments in the region to promote and increase hydrogen infrastructure.
In addition, from the past few years, the research and product development activities concerning utilities and UAVs for the defense sector, coupled with portable power generation units, have increased at a prominent pace worldwide. Moreover, the high emphasis of the governments worldwide on the usage of clean energy sources has increased the overall investments in producing electricity using proton exchange membrane fuel cells. Thus, the above-mentioned key factors are driving the global proton exchange membrane fuel cell market.
Key Topics Covered:
1. Executive Summary
2. Industry Outlook
3. Market Snapshot
4. Market characteristics
4.1. Market Overview
4.2. Market Segmentation
4.3. Market Dynamics
4.4. DRO - Impact Analysis
5. Type: Market Size & Analysis
5.3. Partially Fluorinated
5.4. Hydrocarbon based
6. Application: Market Size & Analysis
6.2. Residential power
6.4. Consumer Electronics
6.5. Imaging devices
7. Geography: Market Size & Analysis
7.2. North America
7.4. Asia Pacific
7.5. Rest of the World
8. Competitive Landscape
8.1. Competitor Comparison Analysis
8.2. Market Developments
8.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships
8.2.2. Product Launches and execution
9. Vendor Profiles
10. Analyst Opinion
For more information about this report visit https://www.researchandmarkets.com/r/wgg9dz