Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market 2021 Global Share, Growth, Size, Opportunities, Trends, Regional Overview, Leading Company Analysis, And Key Country Forecast to 2024
Posted on Aug 2 2021 9:48 AM
"Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market Size 2021-2024 Research Report on Global professional and comprehensive report on the Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market. The report monitors the key trends and market drivers in the current scenario and offers on the ground insights. Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market Report will add the analysis of the impact of COVID-19 on this industry."
Global "Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market" (2021-2024) research report gives an outline of the business with orders, applications and industry chain structure. Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market Report additionally gives information to the global markets including advancement patterns, aggressive scene examination, and key districts improvement status. Advancement strategies and plans are talked about just as assembling procedures and cost structures are likewise examined. Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market Report states import/send out utilization, organic market Figures, cost, value, income and gross edges.
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List of TOP KEY PLAYERS in Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market Report are -
● Hydrogenics Corporation
● Bramble Energy
● Toshiba Corp.
● Ballard Power Systems
● Plug Power Inc.
● ITM Power plc.
● Powercell Sweden AB
● Intelligent Energy Limited
"Final Report will add the analysis of the impact of COVID-19 on the In Memory Computing industry."
COVID-19 Impact on Market:
The recent COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread around the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms of positive cases and reported deaths, as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food and beverage industry is one of the major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the global manufacturing hub, with the presence of and the largest raw material suppliers. The overall market break down due to COVID-19 is also affecting the growth of the bacon market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
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The market for polymer electrolyte membrane (PEM) fuel cells are expected to grow at a CAGR of 15.28% during the forecast period of 2019 â 2024. Major factors driving the market are increasing research & development (R&D) activities in the field of fuel cell, which has led to several technological advantages, such as high power density, less time to refuel, longer storage durability, and more number of life-cycles of PEM fuel cells over its alternatives, such as Li-ion battery and have been driving the adoption of PEM fuel cell powered vehicles. The adoption is also driven by government incentives and policies that are expected to boost consumer acceptance and higher investment from both, public and private companies. The current cost of PEMFC technology is a major barrier to commercial use for stationary, and transportation, among others.
- Trucks and other heavy vehicles have become the most significant sector for PEM fuel cells during 2017. Also, the marine sector is expected to witness the adoption of PEM fuel in the coming years for supplying power to hotel operations during docking and for other purpose, mainly due to IMOâs emission regulations on the marine sector.
- There are vast opportunities offered including the use of PEM based fuel cells as replacements for internal combustion engines in light-duty vehicles and warehouse forklifts to increase vehicle efficiency and support the goals of reducing oil used and in turn, emissions from the transportation sector. This has resulted in the significant increase in the deployment of the PEM fuel cells in North America.
- Asia-Pacific dominated the global PEMFC market in 2017, with China holding the major share. The major factors attributing to the growth are the policies initiated by various governments in countries, like China and Japan to drive clean energy usage.
Key Market Trends:
Increasing Demand from Transportation Sector
- As the transportation sector accounts for one of the largest emitters of greenhouse gas (GHG) emissions, several countries in the region have been actively looking for the deployment of cleaner solutions, such as fuel cells based electric vehicles.
- The United States leads the global fuel cell electric vehicle (FCEV) deployed worldwide, as of April 2018, accounting for approximately 4500 FCEVs being registered in the country. California leads the deployment, where the Zero Emission Vehicle Program has significantly supplemented the sales of FCEVs, and is expected to remain the same in the coming years. As the demand for PEM fuel cells depends on the FCEVs deployed, the increasing deployment of FCEVs is expected to supplement the demand for PEMFCs.
- Automotive giants, such as Toyota and Hyundai, have also ventured into PEM stack cells technology, in a bid to reduce the overall production costs of FCEVs. Such collaborative efforts by the government and industry players are expected to result in significant cost reduction of PEMFC and FCEVs, and in turn, increase the demand for PEMFC in the country.
- In 2018, Hyundai Motor and Beijing-Tsinghua Industrial R&D Institute (BTIRDI), signed a memorandum of understanding (MOU), to establish a Hydrogen Energy Fund of value USD 100 million, to support the adopting of fuel cell vehicle in China, which is likely to drive the market for PEMFC in China, in coming years.
- Countries, such as Germany, the Netherlands, and France, have also been taking notable steps to promote the deployment of fuel cell electric vehicles (FCEVs) and fuel cells-based forklift and applications, such as data centers, in a bid to reduce oil consumption and GHG emission, which, in turn, is expected to supplement the demand for PEMFCs in the coming years.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific is one of the promising regional markets for PEMFC in the coming years, on account of various governmentsâ policies in China, and Japan that are driving the clean energy usage like fuel cell technologies. Among the available fuel cell technologies, the PEMFC is the most commonly used fuel cell in the region.
- In China, PEMFC is one of the major focus areas of Energy Technology Revolution and Innovation Initiative (2016-2030). Companies such as Ballard Power Systems have already started developing strategic relationships in the country. For instance, the company had recently entered into a strategic collaboration with Weichai Power Co., Ltd for the establishment of a joint venture to support the burgeoning FCEV market in China. The collaboration also includes a commitment by Weichai Power to build and supply a minimum of 2,000 fuel cell modules for commercial vehicles in the country and a USD 90 million technology transfer program to the Joint Venture-related to Ballardâs next-generation LCS fuel cell stack and power modules for bus, commercial truck and forklift applications in the country.
- Tokyo Metropolitan Governmentâs (TMGâs) plan to power several operations in 2020 Olympic and Paralympics games, which will be held at Tokyo, using fuel cell technology has further created ample opportunity for investment in PEM fuel cell for the private sector.
- South Korea also has a strategic focus on increasing the adoption of fuel cell vehicles, in coming years. For instance, in June 2018, the South Korean government and businesses agreed to invest some 2.6 trillion, won over the next five years, to proliferate the hydrogen gas-powered vehicle industrial ecosystem in the country. It is expected that around 100,000 units of fuel cell cars will be deployed and installation of 210 hydrogen stations will be done by 2025.
- Other countries in the region, such as India are also focusing on a road map for the use of hydrogen energy and fuel cell technology in the transport sector that is anticipated to create market opportunities for PEMFC business in near future.
The key players in the global PEMFC market include Ballard Power Systems, Plug Power Inc., Hydrogenics Corporation, ITM Power PLC, PowerCell Sweden AB, and Intelligent Energy Limited.
Global Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market Segmentation by Types, By Applications and by Region:
Global Polymer Electrolyte Membrane Fuel Cells (PEMFCs) market is analyses and market size information is provided by regions (countries). Segment by Application, the Polymer Electrolyte Membrane Fuel Cells (PEMFCs) market is segmented into United States, Europe, China, Japan, Southeast Asia, India and Rest of World. The report includes region-wise market size for the period 2021-2024. It also includes market size and forecast by players, by Type, and by Application segment in terms of sales and revenue for the period 2021-2024.
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Polymer Electrolyte Membrane Fuel Cells (PEMFCs) Market Segment by Region:● North America [U.S., Canada, Mexico]
● Europe [Germany, UK, France, Russia, Italy, Rest of Europe]
● Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
● South America [Brazil, Argentina, Rest of South America]
● Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]
Reasons to Purchase this Report:● The report analyses how the stringent emission control norms will drive the global Polymer Electrolyte Membrane Fuel Cells (PEMFCs) market.
● Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
● Study on the product type that is expected to dominate the market.
● Study on the regions that are expected to witness fastest growth during the forecast period.
● Identify the latest developments, market shares and strategies employed by the major market players.
● 3 months analyst support along with the Market Estimate sheet (in excel).
● Identify the current and future prospects of the global marine composite market in the developed and emerging markets
● Information of the segment that is expected to dominate the market
● Identify the region that is expected to witness fastest growth during the forecast period
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Major Points from Table of Contents:
1.1 Scope of Study
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD million, until 2024
4.3 Recent Trends and Developments
4.4 Research and Development Status
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.7 Industry Supply Chain Analysis
4.8 Porter's Five Forces Analysis
4.8.1 Bargaining Power of Suppliers
4.8.2 Bargaining Power of Consumers
4.8.3 Threat of New Entrants
4.8.4 Threat of Substitute Products and Services
4.8.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1.1 North America
5.1.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Hydrogenics Corporation
6.3.2 Bramble Energy
6.3.3 Toshiba Corp.
6.3.4 Ballard Power Systems
6.3.5 Plug Power Inc.
6.3.6 ITM Power plc.
6.3.7 Powercell Sweden AB
6.3.8 Intelligent Energy Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
. . . Continued
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