Global PEM (Proton Exchange membrane) Market

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 News

  • 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.
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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.

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