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

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

Global 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.

Global PEM (Proton Exchange Membrane) Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

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 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. '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 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.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

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

Global PEM (Proton Exchange Membrane) Market Dynamics

Global PEM (Proton Exchange Membrane) Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of PEM (Proton Exchange Membrane) Market?

Who are the key vendors in the Global PEM (Proton Exchange Membrane) Market?

What is the key driver of Global PEM (Proton Exchange Membrane) Market?

What is the key market trend for Global PEM (Proton Exchange Membrane) Market?

Which region accounted for the largest share in Global PEM (Proton Exchange Membrane) Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300