Transparency Market Research in its new report titled, “Polymer Electrolyte Membrane Fuel Cell Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the polymer electrolyte membrane fuel cell market. The new report anticipates that the increase in demand for clean energy will drive the polymer electrolyte membrane fuel cell market during the forecast period i.e, 2018-2026. Rise in focus on the use of fuel cell technology as a source of energy and growth in concerns regarding pollution caused by conventional sources of energy are also augmenting the global polymer electrolyte membrane fuel cell market.
PEM fuel cell uses a water-based, acidic polymer membrane as its electrolyte, with platinum-based electrodes. PEM fuel cells operate at relatively low temperatures (below 100°C) and can tailor electrical output to meet dynamic power requirements. These cells must operate on pure hydrogen due to the relatively low temperatures and the use of precious metal-based electrodes. Currently, PEM fuel cells is the leading technology for light duty vehicles and material handling vehicles. Additionally, technological advancements, R&D work associated with fuel cell technologies, and global commitment toward reduction of greenhouse gas emissions from the power sector are likely to drive the PEM fuel cell market.
The report has segregated the polymer electrolyte membrane fuel cell market, in terms of the membrane type, into electrodes, gas diffusion layer, and others. On the basis of regional perspective, the polymer electrolyte membrane fuel cell market is split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, Asia Pacific accounts for the dominant share of the polymer electrolyte membrane fuel cell market, led by significant investments in fuel cell technologies in countries such as Japan and South Korea. Japan and South Korea plan to lower the usage of nuclear energy, thereby leading to an increase in opportunities for alternate power sources. This, in turn, is expected to drive the polymer electrolyte membrane fuel cell market, as per the TMR report.
According to TMR, the polymer electrolyte membrane fuel cell market in North America is anticipated to follow Asia Pacific during the forecast period. The U.S. is estimated to dominate the polymer electrolyte membrane fuel cell market in the near future owing to the increase in focus on deployment of clean energy solutions in the country. According to the U.S. Department of Energy (DOE), the fuel cell technology is projected be cost competitive compared to other options by the end of 2018. This in turn, is likely to boost the PEM fuel cell market in the U.S.
Prominent players operating in the global polymer electrolyte membrane fuel cell market are profiled in this report and these include DuPont Fuel Cells, Hitachi Limited, CMR Fuel Cells PLC, Panasonic Corporation, Samsung SDI Company Limited, Polyfuel Inc., Sharp Corporation, Toshiba Corporation, Ultracell Corporation, and Fujikura Limited.
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