Global Proton Exchange Fuel Cell Market Report Size, Trends & Growth Opportunity, By Type (High Temperature, Low Temperature), By Material (Membrane Electrode Assembly, Hardware), By Application (Automotive, Portable, Stationary, Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa) And Forecast Till 2027.
Global Proton Exchange Fuel Cell Market
The Global Proton Exchange Fuel Cell Market has a value of USD 4.63 Billion in 2021 and is anticipated to increase at a 15.14 % CAGR from 2022 to 2027 to reach USD 14.68 Billion.
The fuel cell type known as proton exchange membrane fuel cells (PEMFCs), often referred to as polymer electrolyte membrane (PEM) fuel cells, is primarily being developed for use in transportation as well as stationary and mobile fuel-cell applications. They have a specific proton-conducting polymer electrolyte membrane, and their temperature range is smaller. PEMFCs operate oppositely from PEM electrolysis, which consumes electricity; they produce it. They have a good chance of replacing the old alkaline fuel-cell technology used on the Space Shuttle. Because of its small size, the PEMFC is a fantastic choice for mobile and other applications of various sizes, including mobile phones.
Market Drivers
The use of proton exchange membrane fuel cells as a power source enables the strengthening and diversification of the world's energy infrastructure in a variety of stationary and mobile, as well as transportation-related, applications. It offers a safe, dependable, and more energy-efficient way to meet the continuously expanding need for electricity. Hence, during the projection period, the demand for these fuel cells across various application sectors will be driven by improved fuel efficiency and a trend toward the adoption of zero-emission automobiles.
The primary fuel for the proton exchange membrane fuel cell, hydrogen, which is widely available, minimizes the economic dependency on the use of fossil fuels. Also, it doesn't produce harmful pollutants like CO, CO2, SOX, NOx, and other substances released by gasoline and diesel-powered vehicles, which encourages the widespread use of fuel cell electric vehicles (FCEVs) around the world and consequently increases the need for PEMFC.
Market Restraints
The increasing demand for electric vehicles, including battery electric vehicles and plug-in hybrid electric vehicles, is the main factor that could limit the growth of the proton exchange membrane fuel cell industry. Because of its numerous benefits, including improved efficiency, no polluting by-products, cost-effectiveness, and energy security, the demand for these cars is growing significantly.
Market Segmentation
The Global Proton Exchange Fuel Cell Market is segmented into Type (High Temperature, Low Temperature), Material (Membrane Electrode Assembly, Hardware), Application (Automotive, Portable, Stationary, Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa).
Regional Analysis
Due to attempts by various governments in the region to promote and expand the hydrogen infrastructure, Asia Pacific has been the market's main region. Key industry companies are also present in the region, which has aided in their domination of the international market. In addition, due to its government's strong desire to create a society free of carbon emissions and its enormous FCEV ambitions, Japan is expected to dominate the sector in terms of volume over the long term. Additionally, the administration is continuously developing frameworks and policies to realize the objective of turning the country into a carbon-negative economy.
The U.S. is expected to grow exponentially in North America as a result of supportive government goals and significant investments in research and development. To promote the use of hydrogen-powered passenger cars, the administration has set ambitious goals, which are anticipated to boost regional demand for fuel-cell vehicles. To lessen the nation's reliance on fossil fuels, governments like California have the vision to deploy commercial vehicles, particularly buses, during the anticipated timeframe. Additionally, it seeks to reduce its carbon footprint.
Key Players
The Key Players in the Global Proton Exchange Fuel Cell Market are Nedstack Fuel Cell Technology BV, Horizon Fuel Cell Technologies, Altergy, Plug Power Inc., PowerCell Sweden AB, Cummins Inc., AVL, ITM Power PLC, Ballard Power Systems, and Intelligent Energy Limited.
Market Taxonomy
Type
• High Temperature
• Low Temperature
Material
• Membrane Electrode Assembly
• Hardware
Application
• Automotive
• Portable
• Stationary
• Others
Regional Outlook
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and South Africa
Global Proton Exchange Fuel Cell Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Proton Exchange Fuel Cell Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply& Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Proton Exchange Fuel Cell Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Proton Exchange Fuel Cell Market Share Analysis, By Type
5.3 Proton Exchange Fuel Cell Market Size and Forecast, By Type
5.3.1 High Temperature
5.3.2 Low Temperature
6 Proton Exchange Fuel Cell Market, By Material
6.1 Y-o-Y Growth Comparison, By Material
6.2 Proton Exchange Fuel Cell Market Share Analysis, By Material
6.3 Proton Exchange Fuel Cell Market Size and Forecast, By Material
6.3.1 Membrane Electrode Assembly
6.3.2 Hardware
7 Proton Exchange Fuel Cell Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Proton Exchange Fuel Cell Market Share Analysis, By Application
7.3 Proton Exchange Fuel Cell Market Size and Forecast, By Application
7.3.1 Automotive
7.3.2 Portable, Stationary
7.3.3 Others
8 Proton Exchange Fuel Cell Market, By Region
8.1 Proton Exchange Fuel Cell Market Share Analysis, By Region
8.2 Proton Exchange Fuel Cell Market Share Analysis, By Region
8.3 Proton Exchange Fuel Cell Market Size and Forecast, By Region
9 North America Proton Exchange Fuel Cell Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Proton Exchange Fuel Cell Market Share Analysis, By Type
9.3 North America Proton Exchange Fuel Cell Market Size and Forecast, By Material
9.4 North America Proton Exchange Fuel Cell Market Size and Forecast, By Application
9.5 North America Proton Exchange Fuel Cell Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Proton Exchange Fuel Cell Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Proton Exchange Fuel Cell Market Share Analysis, By Type
10.3 Europe Proton Exchange Fuel Cell Market Size and Forecast, By Material
10.4 Europe Proton Exchange Fuel Cell Market Size and Forecast, By Application
10.5 Europe Proton Exchange Fuel Cell Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4. Rest of Europe
11 Asia Pacific Proton Exchange Fuel Cell Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Proton Exchange Fuel Cell Market Share Analysis, By Type
11.3 Asia Pacific Proton Exchange Fuel Cell Market Size and Forecast, By Material
11.4 Asia Pacific Proton Exchange Fuel Cell Market Size and Forecast, By Application
11.5 Asia Pacific Proton Exchange Fuel Cell Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Proton Exchange Fuel Cell Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Proton Exchange Fuel Cell Market Share Analysis, By Type
12.3 Latin America Proton Exchange Fuel Cell Market Size and Forecast, By Material
12.4 Latin America Proton Exchange Fuel Cell Market Size and Forecast, By Application
12.4 Latin America Proton Exchange Fuel Cell Market Size and Forecast, Country
12.5.1. Brazil
12.5.2. Rest of Latin America
13 Middle East Proton Exchange Fuel Cell Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Proton Exchange Fuel Cell Market Share Analysis, By Type
13.3 Middle East Proton Exchange Fuel Cell Market Size and Forecast, By Material
13.4 Middle East Proton Exchange Fuel Cell Market Size and Forecast, By Application
13.5 Middle East Proton Exchange Fuel Cell Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Nedstack Fuel Cell Technology BV
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Horizon Fuel Cell Technologies
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Altergy
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Plug Power Inc.
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 PowerCell Sweden AB
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Cummins Inc.
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 AVL
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 ITM Power PLC
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Ballard Power Systems
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Intelligent Energy Limited.
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
