News-Global Proton Exchange Membrane Fuel Cell(PEMFC) Market Overview 2022
Global Proton Exchange Membrane Fuel Cell (PEMFC) Market Size was estimated at USD 1237.16 million in 2021 and is projected to reach USD 6758.08 million by 2028, exhibiting a CAGR of 32.37% during the forecast period– Bossonresearch.com
The proton exchange membrane fuel cell (PEMFC) is one of the most elegant types of fuel cells, which is fed hydrogen, which is oxidized at the anode, and oxygen that is reduced at the cathode. PEM fuel cells in particular have desirable properties. They operate at relatively low temperatures, which makes them easier to contain and reduces thermal losses. They are also smaller in volume and lighter in weight, making them perfect for automotive and portable applications. That is why all the hydrogen-fueled buses and cars on the market today from major companies are powered by PEM fuel cells and why about 90% of fuel cell research and development work involves PEM fuel cells.
According to Bosson Research, The global market for Proton Exchange Membrane Fuel Cell (PEMFC) is projected to Rapid growth between 2022 and 2027. In 2021, the size of the market was estimated at almost 1237.16 million U.S. dollars, in 2027, the market size is forecast to surpass 6758 million U.S. dollars.
Figure Global Proton Exchange Membrane Fuel Cell (PEMFC) Market Size
Source: Bossonresearch.com, 2022
Energy and environmental issues have promoted the rapid development of proton exchange membrane fuel cell (PEMFC)
Global energy consumption has continued to rise and traditional fossil energy remains the main energy source worldwide. Along with continuous growth of the global population comes the rapid exploitation of fossil energy, resulting in an energy shortage. Moreover, the large amount of fossil energy use causes serious environmental pollution. According to a report by the United Nations environmental conference in 2016, about a quarter of the world's deaths are related to environmental problems such as climate change, air pollution, and water pollution. Developing diverse, renewable, and clean energy sources and reducing environmental pollution have become the inevitable trends in future energy development.
The fuel cell is an energy conversion device that converts chemical energy directly into electricity through electrochemical reactions. Fuel cells generally have the advantages of being highly efficient, environmentally friendly, and fuel diverse. Therefore, fuel cell technology is regarded as one of the most promising green and efficient power generation technologies of the 21st century. There are many types of fuel cells. Fuel cell technology with wide application include PEM fuel cells, solid oxide fuel cells (SOFCs), molten carbonate fuel cells, and alkaline exchange fuel cells.
Among these types of fuel cells, the hydrogen PEM fuel cell has the general advantages of fuel cells, but also other advantages including a low operating temperature and fast dynamic response that can be widely used in automotive powertrains, distributed generation, unmanned aircraft, and military in the future. In 2017, 45,500 PEM fuel cells were shipped globally, accounting for 62.67% of total global fuel cell shipments. The total shipping capacity of PEM fuel cells is 486.8 MW, accounting for 72.69% of the total global fuel cell shipping capacity [1]. Generally, the PEM fuel cell is the most mature and widely used fuel cell technology. For automotive applications, PEM fuel cells are regarded as an ideal replacement for internal combustion engines. Many commercial fuel cell vehicle (FCV) products are sold by leading automotive manufacturers worldwide, such as the Toyota Mirai, Honda Clarity, and Hyundai NEXO.
China's Active Layout In Fuel Cell Industry
In China, development of PEM fuel cell technology has received great attention and support from the government as well as energy and automotive enterprises. The energy technology innovation plan (2016–30) jointly issued by the National Development and Reform Commission of China and the National Energy Administration of China in 2016 listed hydrogen energy and fuel cell technology as a key task. Its specific strategy direction includes the development of advanced fuel cells and distributed generation. For advanced fuel cells, research and development will focus on hydrogen–air polymer electrolyte membrane fuel cells (PEM fuel cells) and methanol–air polymer electrolyte membrane fuel cells. For distributed generation, the focus will be on PEM fuel cells, SOFCs, and system integration of distributed hydrogen production and fuel cells (PEM fuel cells and SOFCs). The plan also sets the goal of achieving large-scale application of fuel cells and hydrogen energy by 2030. The Automotive Engineering Society of China published a road map of energy-saving and new energy automotive technologies in 2016, which pointed to the development of fuel cell technology and FCVs as an important technical path in China and cited the PEM fuel cell as being the most widely used powertrain in FCVs. Many leading automotive manufacturers in China also launched FCVs, including commercial vehicles and passenger vehicles. Fig. 1.1 shows the Roewe 950 FCV by SAIC, the first fuel cell passenger car sold in China. It is also the first FCV equipped with a 70MPa hydrogen storage system in China. The PEM fuel cell has promising prospects in China and across the world, and it will occupy an important place in the future of global energy supply.
Improving performance, reducing costs and increasing durability are core goals for PEM fuel cell research and development.
Although PEM fuel cells have many advantages and a wide range of applications, PEM fuel cells are still not fully commercialized and widely used in everyday life. PEM fuel cells still face many challenges:
(1)PEM fuel cell technology is still evolving. PEM fuel cells are limited by a high cost and lack of durability. Specifically, the performance of materials including catalysts and membranes needs to be improved, the cost needs to be reduced, and the designs of components and fuel cell systems need to be further optimized.
(2)The hydrogen energy supply chain is still immature. The cost of hydrogen production is not low enough, the transportation and storage costs of hydrogen are still relatively high, and the number of hydrogen refueling stations in cities is still low. All of this prevents PEM fuel cells from being more popular, especially in automotive applications.
Frankly speaking, there is still a long way to go before PEM fuel cells will appear frequently in energy application scenarios such as automobiles and thermal power plants. Improving performance, reducing costs and increasing durability are core goals for PEM fuel cell research and development.
Global Proton Exchange Membrane Fuel Cell (PEMFC) Market: Competitive Landscape
The PEMFC market is diversified , with numerous players carrying out research and development activities . Amongstthe present players in the market , Ballard Power Systems , and W.L. Gore Associates holds significant shares in theglobal market owing to their rigorous investments in PEMFC research and development activities and broad customerreachFor instance , the demand for Toyota's Mirai fuel-cell car has increased since its introduction , which procures fuel cellsrom W.L. Gore & Associates . Similarly , Hyundai Nexo gained customers' attention . Asian players in the market areexpected to show healthy growth in their sales with government backing to promote fuel cell vehicles.
Key players in the Proton Exchange Membrane Fuel Cell (PEMFC)ics Market include:
l Plug Power
l Ballard
l Nuvera Fuel Cells
l Hydrogenics
l Sunrise Power
l Panasonic
l Vision Group
l Nedstack PEM Fuel Cells
l Shenli Hi-Tech
l Altergy Systems
l Horizon Fuel Cell Technologies
l Foresight
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