Proton Exchange Membrane Hydrogen Fuel Cell Market Is Expected To Reach US$ 13.16 Billion By 2035, Growing At 11.9% CAGR | Fact.MR Report

(MENAFN- GlobeNewsWire - Nasdaq) The market for Proton Exchange Membrane Hydrogen Fuel Cell is being driven by factors such as the growing need green energy solutions across various industries, emphasis on environmental friendly energy productions.

Rockville, MD, Feb. 10, 2025 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global proton exchange membrane hydrogen fuel cell market was valued at US$ 3,955.6 million in 2024 and has been forecasted to expand at a noteworthy CAGR of 11.9% to end up at US$ 13,163.4 Million by 2035.

PEMFCs generate electricity and are on the opposite principle of the electrolysis that consumes electricity This does not in any way affect the fact that actual growth areas in the market of PEMFC may evolve with time, based on further developments in technologies, government policies, and changing market dynamics. Referring to the latest industry reports and analyses would be advisable as the market progresses with new developments in order to ensure the most accurate and up-to-date information about growth areas in the PEMFC market. The proton exchange membrane fuel cell market has witnessed steady growth in the last few years and is expected to maintain its trajectory.

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Key Takeaways from Market Study

• The global proton exchange membrane hydrogen fuel cell market is projected to grow at 9% CAGR and reach US$ 13,163.4 million by 2035
• The market created an absolute $ opportunity of US$ 8,887.1 million growing at a CAGR of 9% between 2025 to 2035
• North America is a prominent region that is estimated to hold a market share of 3% in 2035
• Predominating market players include Air Liquide Energies, Ballard Power Systems, Cummins, Doosan Fuel Cell, Horizon Fuel Cell Technologies, Hydrogenics, Hyundai Motor Company, Nedstack Fuel Cell Technology, Nuvera Fuel Cells, Panasonic Corporation, Plug Power, Robert Bosch, SFC Energy, TW Horizon Fuel Cell Technologies.
• Automotive under Industry are estimated to grow at a CAGR of 3% creating an absolute $ opportunity of US$ 5,161.3 million between 2025 and 2035
• North America and East Asia are expected to create an absolute $ opportunity of US$ 5,054.4 million collectively

“Environmental awareness, adoption across various industries, and technological advancement in recycling process will drive the market” says a Fact.MR analyst.

Leading Players Driving Innovation in the Proton Exchange Membrane Hydrogen Fuel Cell Market:

Air Liquide Energies; Ballard Power Systems; Cummins; Doosan Fuel Cell; Horizon Fuel Cell Technologies; Hydrogenics; Hyundai Motor Company; Nedstack Fuel Cell Technology; Nuvera Fuel Cells; Panasonic Corporation; Plug Power; Robert Bosch; SFC Energy; TW Horizon Fuel Cell Technologies.

Market Development

Global Proton Exchange Membrane Hydrogen Fuel Cell market key players are focusing on expansion activities, technological advancement, product innovations, strategic partnerships and collaborations, and regulatory compliances to acquire significant share in the industry.

Continuous improvements in the efficiency and durability of PEM fuel cells are making them more attractive for various applications. Expansion of hydrogen refueling stations and production facilities is facilitating the growth of the market. Public-private partnerships are emerging to support research and development in hydrogen technologies.

For Instance, In May 2023, Nedstack Fuel Cell Technology BV partnered with RWTH Aachen University's Chair of Production Engineering of E-Mobility Components and AE Driven Solutions GmbH to industrialize PEM fuel cell technology in Europe. This collaboration also supports the EU's goal of achieving net-zero emissions by 2050. The partners will shape the evolution of advanced PEM fuel cells, bolstering Europe's hydrogen economy. Through this alliance, the organizations aim to solidify their standing in the region and the broader fuel cell industry.

Proton Exchange Membrane Hydrogen Fuel Cell Industry News:

• In March 2024, Cummins launched its first e-compressor for fuel cell engine in Wuxi, China. Key characteristics of the e-compressor include low noise, high speed, and high efficiency. It is applicable for 150 - 200 kW fuel cell engines and 240 - 260 kW fuel cell engines under turbine energy recovery. It will further support the company comply with its Destination Zero Strategy to reduce greenhouse gas and air quality impacts of its products.

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More Valuable Insights on Offer

in its new offering, presents an unbiased analysis of the global Proton Exchange Membrane Hydrogen Fuel Cell market, presenting historical data for 2020 to 2024 and forecast statistics for 2025 to 2035.

The study reveals essential insights on the basis of the by Application (Stationary, Portable, Transport), Power Output (Low Power PEMFCs (< 1KW), Medium Power PEMFCs(1KW-10KW), High Power PEMFCs (>10 KW)), End Use Industry (Automotive, Residential and Commercial, Industrial) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

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