Global PEM (Proton Exchange membrane) Market

PEM (Proton Exchange Membrane) Market Size, Share, Growth Analysis, By Type(Polyaromatic Polymers Membrane, Partially Fluorinated Polymers Membrane), By Application(Automotive, stationary power generation, portable electronics, and others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG10C2013 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 63 |Figures: 77

PEM (Proton Exchange Membrane) Market Insights

PEM (Proton Exchange Membrane) Market size was valued at around USD 6.56 billion in 2021 and USD 7.66 billion in 2022 is expected to reach a value of USD 26.54 billion by 2030, at a CAGR of 16.8% over the forecast period (2023–2030).

The market is expected to grow steadily over the forecast period due to rising demand for alternative energy sources and growing concerns about environmental pollution. PEM technology has advantages such as high efficiency, low emissions, and low noise levels, making it an appealing solution for a variety of applications such as automotive, stationary power generation, and portable electronics.

The growing demand for clean and renewable energy sources is one of the key drivers of the PEM market. Global population growth and economic growth have increased energy demand, and PEM technology provides an efficient and clean energy source. Furthermore, increased investment in fuel cell research and development has resulted from government initiatives and policies aimed at reducing greenhouse gas emissions and promoting clean energy. The growing demand for electric vehicles drives the PEM market (EVs). PEM fuel cells can be used to power EVs, providing an alternative to traditional internal combustion engines. The expansion of the EV market is expected to drive demand for PEM technology, which provides advantages such as longer range and faster refueling times when compared to battery-electric vehicles.

The PEM market provides several opportunities for expansion in the coming years. One of the key opportunities is the development of new materials and manufacturing processes that can reduce costs and improve the performance of PEM fuel cells. Moreover, the development of new applications for PEM technology, such as in the marine and aviation industries, could provide fresh growth opportunities.

US Proton Exchange Membrane Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023–2030

Global Market Size

USD 6.56 billion

Largest Segment

Polyaromatic Polymers Membrane

Fastest Growth

Polyaromatic Polymers Membrane

Growth Rate

16.8% CAGR

Global PEM (Proton Exchange membrane) Market ($ Bn)
Country Share for North America Region (%)
Global PEM (Proton Exchange membrane) Market Size By Type ($ Bn)
Global PEM (Proton Exchange membrane) Market Size By Type (%)

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PEM (Proton Exchange Membrane) Market Segmental Analysis

Global PEM (Proton Exchange membrane) Market is segmented based on Type, Application, End User and region. Based on Type the Proton Exchange Membrane Market is segmented into Polyaromatic Polymers Membrane, Partially Fluorinated Polymers Membrane. Based on Application the Proton Exchange Membrane Market is segmented into automotive, stationary power generation, portable electronics, and others. Based on region the global PEM (Proton Exchange membrane) Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Proton Exchange Membrane Market Analysis by Application

In terms of revenue, automotive held the largest market share of 28.49% in 2021. The product finds widespread application in automobiles, forklifts, telecommunications, backup power systems, and primary systems. The stationary segment is expected to maintain its lead due to its high efficiency and product versatility. One of the most applicable areas of proton exchange membrane fuel cells is transportation, owing to the potential environmental benefit of reduced GHG emissions. As a result, major automobile manufacturers are utilizing PEM due to its characteristics and high-power density when compared to other types of fuel cells on the market.

Portable applications include laptop computers, personal electronics, consumer products, and mobile phones. Due to increased R&D activities in developed European countries and rising demand for PEM-powered forklifts, the automotive segment is expected to grow significantly during the forecast period. The increasing sale and popularity of fuel cell vehicles are one of the major drivers assisting the growth of the automotive market segment. With a growing preference for clean fuel, key car manufacturers such as Nissan, Toyota, Hyundai, and others are moving towards fuel cell EVs, which will drive future PEM market trends. Furthermore, growing government policies and initiatives to reduce carbon emissions are expected to create profitable sales opportunities for the market.

Global PEM (Proton Exchange membrane) Market Size By Type, 2021 (%)

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PEM (Proton Exchange Membrane) Market Regional Insights

The North American region dominated the global market owing to rising demand for proton exchange membrane (PEM) technology as a result of increased government initiatives to promote clean energy and reduce carbon emissions. Both regions have thriving automotive industries that are adopting fuel cell technology in order to meet regulatory requirements and address environmental concerns.

The Asia-Pacific market is expected to grow at the fastest CAGR. This is primarily due to rising demand for fuel cell vehicles and government initiatives to promote clean energy in countries such as China, Japan, and South Korea. The region has a large consumer base for fuel cell vehicles, and several major automotive manufacturers, including Toyota and Hyundai, have already launched commercial fuel cell vehicles in the region. Furthermore, the Asia-Pacific region is home to several key PEM market players, including Ballard Power Systems, Plug Power Inc., and Horizon Fuel Cell Technologies. These companies are heavily investing in R&D to develop more efficient and cost-effective PEM technology.

Global PEM (Proton Exchange membrane) Market Size By Geography, 2023–2030
  • Largest
  • Fastest

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PEM (Proton Exchange Membrane) Market Dynamics

Proton Exchange Membrane Market Drivers

Advancements in technology

  • The progress of new and improved PEM technology is increasing its efficiency and cost-effectiveness. Materials science and manufacturing process advancements are also lowering the cost of PEM technology, making it more accessible to a wider range of consumers.

Automotive industry growth

  • One of the key sectors driving the growth of the PEM market is the automotive industry. Due to their zero-emission profile and the growing demand for sustainable transportation solutions, fuel cell vehicles powered by PEM technology are becoming increasingly popular.

Off-grid power solutions have increased in popularity

  • PEM technology can be used to develop off-grid power solutions for applications such as remote telecommunications, backup power systems, and portable power devices. The expanding market for such applications drives the PEM market forward.

Proton Exchange Membrane Market Restraints

Limited hydrogen availability

  • PEM technology necessitates the use of hydrogen as a fuel source, which is currently in short supply. While efforts are being made to increase hydrogen production and distribution, the limited availability of this fuel source may limit the growth of the PEM market.

Lack of technology

  • Adoption of PEM technology requires a significant investment in infrastructure, such as hydrogen fueling stations. PEM technology's limited infrastructure may limit its adoption in certain markets.

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PEM (Proton Exchange Membrane) Market Competitive Landscape

The global proton exchange membrane (PEM) market is competitive due to the presence of major industries all through the region. Since companies had also increased their focus on research and development activities to develop fuel cell technology that is cost-effective for the automotive industry. Companies such as W. L. Gore & Associates, Inc. and Ballard Power have a significant share of the global industry due to their rigorous investments in proton exchange membrane FCs R&D activities with a bigger clientele. Product launches and acquisitions and mergers are two major strategies which industry participants have approved.

Proton Exchange Membrane Market Top Player’s Company Profiles

  • Demirdokum
  • Atlantic Fuel Cell
  • E-TEK Inc
  • Electrochem
  • ReliOn
  • UTC Power
  • Plug Power Inc.
  • ITM Power PLC
  • Ballard Power Systems
  • PowerCell Sweden AB
  • Cummins Inc.
  • AVL
  • Nedstack Fuel Cell Technology BV
  • Horizon Fuel Cell Technologies
  • Altergy
  • ElringKlinger AG
  • Infinity Fuel Cell and Hydrogen, Inc.
  • Loop Energy Inc.
  • NUVERA FUEL CELLS, LLC
  • W. L. Gore & Associates, Inc.

Proton Exchange Membrane Market Recent Developments

  • In August 2022, The National Renewable Energy Laboratory (NREL) has begun working with Toyota Motor North America (Toyota) on a cooperative research and development agreement to build, install, and At NREL's Flatirons Campus, a 1-MW proton exchange membrane (PEM) fuel cell power generation device will be tested.
  • In April 2022, SFC Energy and FC TecNrgy of Germany have signed an agreement to manufacture methanol and hydrogen fuel cells in India. The business recently revealed the introduction of the EFOY hydrogen fuel Cell in India, which is anticipated to significantly contribute to the achievement of the nation's hydrogen ambitions, including plans to produce up to 5 million tons of green hydrogen by 2030.

PEM (Proton Exchange Membrane) Key Market Trends

  • PEMs are an important component of fuel cell technology, which is becoming more popular as a clean energy solution in a variety of applications such as transportation, stationary power generation, and portable power. PEM demand is being driven by the growing demand for fuel cell technology.
  • The global emphasis on reducing greenhouse gas emissions and combating climate change has increased interest in clean energy technologies such as fuel cells, which use with simply water as a byproduct, energy can be produced using hydrogen and oxygen. This has contributed to the expansion of the PEM market.
  • PEM technology advancements have made them more efficient and cost-effective, making them an appealing alternative to traditional fossil fuel-based energy sources. The use of nanotechnology in PEMs, for example, has significantly improved their performance.
  • Many companies are investing in R&D to create more efficient and cost-effective PEMs. This is aiding in driving innovation in the PEM market and widening its applications.

PEM (Proton Exchange Membrane) Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global PEM (Proton Exchange membrane) market analysis, we found that growing demand for clean and renewable energy sources is one of the key drivers of the PEM market. Global population growth and economic growth have increased energy demand, and PEM technology provides an efficient and clean energy source. Moreover, the development of new applications for PEM technology, such as in the marine and aviation industries, could provide fresh growth opportunities. PEM technology advancements have made them more efficient and cost-effective, making them an appealing alternative to traditional fossil fuel-based energy sources. The use of nanotechnology in PEMs, for example, has significantly improved their performance.

Report Metric Details
Market size value in 2021 USD 6.56 billion
Market size value in 2030 USD 26.54 billion
Growth Rate 16.8%
Base year 2023
Forecast period 2023–2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Polyaromatic Polymers Membrane, Partially Fluorinated Polymers Membrane
  • Application
    • Automotive, stationary power generation, portable electronics, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Demirdokum
  • Atlantic Fuel Cell
  • E-TEK Inc
  • Electrochem
  • ReliOn
  • UTC Power
  • Plug Power Inc.
  • ITM Power PLC
  • Ballard Power Systems
  • PowerCell Sweden AB
  • Cummins Inc.
  • AVL
  • Nedstack Fuel Cell Technology BV
  • Horizon Fuel Cell Technologies
  • Altergy
  • ElringKlinger AG
  • Infinity Fuel Cell and Hydrogen, Inc.
  • Loop Energy Inc.
  • NUVERA FUEL CELLS, LLC
  • W. L. Gore & Associates, Inc.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on PEM (Proton Exchange Membrane) Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on PEM (Proton Exchange Membrane) Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the PEM (Proton Exchange Membrane) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the PEM (Proton Exchange Membrane) Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the PEM (Proton Exchange Membrane) Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the PEM (Proton Exchange Membrane) Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

PEM (Proton Exchange Membrane) Market size was valued at around USD 6.56 billion in 2021 and USD 7.66 billion in 2022 is expected to reach a value of USD 26.54 billion by 2030, at a CAGR of 16.8% over the forecast period (2023–2030).

The proton exchange membrane (PEM) market is competitive due to the presence of major industries all through the region. Since companies had also increased their focus on research and development activities to develop fuel cell technology that is cost-effective for the automotive industry. Companies such as W. L. Gore & Associates, Inc. and Ballard Power have a significant share of the industry due to their rigorous investments in proton exchange membrane FCs R&D activities with a bigger clientele. Product launches and acquisitions and mergers are two major strategies which industry participants have approved. 'Demirdokum', 'Atlantic Fuel Cell', 'E-TEK Inc', 'Electrochem', 'ReliOn', 'Johnson Matthey', 'UTC Power', 'Intelligent Energy Limited', 'Plug Power Inc.', 'ITM Power PLC', 'Ballard Power Systems', 'PowerCell Sweden AB', 'Cummins Inc.', 'AVL', 'Nedstack Fuel Cell Technology BV', 'Horizon Fuel Cell Technologies', 'Altergy', 'ElringKlinger AG', 'Infinity Fuel Cell and Hydrogen, Inc.', 'Loop Energy Inc.', 'NUVERA FUEL CELLS, LLC', 'W. L. Gore & Associates, Inc.'

The progress of new and improved PEM technology is increasing its efficiency and cost-effectiveness. Materials science and manufacturing process advancements are also lowering the cost of PEM technology, making it more accessible to a wider range of consumers.

PEMs are an important component of fuel cell technology, which is becoming more popular as a clean energy solution in a variety of applications such as transportation, stationary power generation, and portable power. PEM demand is being driven by the growing demand for fuel cell technology.

The North American region dominated the market owing to rising demand for proton exchange membrane (PEM) technology as a result of increased government initiatives to promote clean energy and reduce carbon emissions. Both regions have thriving automotive industries that are adopting fuel cell technology in order to meet regulatory requirements and address environmental concerns.

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Global PEM (Proton Exchange membrane) Market

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