360 Research Reports offers the latest published report on “Global PEM Fuel Cells Market – Growth, Trends, and Forecast (2019 – 2023)” delivering key insights and providing a competitive advantage to clients through a detailed report.
Global PEM Fuel Cells Market 2019-2023 considers the past, current and future state of the industry while encapsulating modest landscape analysis, manufacturers, marketing strategies, industry effect factor analysis. An unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas has been included to help stakeholders to device and align PEM Fuel Cells market strategies according to the current and future market. All enterprise profiles of the main players and brands are shown in this research. The report presents the drivers and restrictions of the market that have been explained by SWOT analysis.
PEM Fuel Cells Market Segmentation by Major Players:
Dupont Fuel Cell, Hitachi Ltd, Cmr Fuel Cells Plc, Panasonic Corp, Samsung Sdi Co Ltd, Polyfuel Inc, Sharp Corp, Toshiba Corp, Ultracell Corp, Fujikura Ltd
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Overview of PEM Fuel Cells Market Report:
The global polymer electrolyte (PEM) fuel cells market is in nascent phase and it is likely to grow at a rapid rate on account of increasing demand for clean energy and increase focus towards usage of fuel cell technology as a source of energy. Globally, the rising concern regarding pollution caused from conventional sources of energy has led to explore the alternate sources of energy. These type of 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 degrees Celsius) and can tailor electrical output to meet dynamic power requirements. Due to the relatively low temperatures and the use of precious metal-based electrodes, these cells must operate on pure hydrogen. PEM fuel cells are currently the leading technology for light duty vehicles and materials handling vehicles Apart from that the technological advancements, research and development work associated with fuel cell technologies and global commitment on reduction of green-house gases emissions from power sector is likely to drive the PEM fuel cells market.
Increasing awareness about clean energy – Driving the Market
Globally, the increasing awareness about clean energy is providing a huge impetus to alternate sources of energy. As per the Paris climate deal, the countries across the globe have committed to use clean energy sources and move away from conventional fuels which cause adverse effects on environment. The fuel cells can be used to bridge the demand supply gap of electricity caused by reduction in usage of conventional fuels. Furthermore, stringent environmental norms is likely to promulgate the demand for cleaner fuels, which in turn would drive the market for PEM fuel cells.
Asia Pacific – Region with the Highest Market Share
Asia Pacific region has highest share in PEM fuel cells market, owing to huge investments made in fuel cell technologies in countries such as Japan and South Korea. Japan and South Korea have planned to reduce the usage of nuclear energy thereby leading to increased opportunities for alternate power source, which in turn, is a big driver for PEM fuel cells market. The Asia Pacific region offers immense market opportunities for PEM fuel cells on account of widespread adoption of electric vehicles. The energy density of PEM fuel cells is much higher than that of batteries which is likely to bolster its demand as clean fuel in transportation sector.
United States to Dominate the Market Growth
The US is anticipated to dominate the market growth for PEM fuel cells on account of increased focus on deployment of clean energy solutions. The per capita emission of carbon dioxide in the US very high and overall carbon dioxide emissions is second after China. The US government provide huge incentive to fuel cell technology and according to the Department of Energy (DOE), the fuel cell technology will be cost competitive with other options by 2019. This in turn is likely to surge the market growth for PEM fuel cells in the US at a rapid rate.
The major players include – Dupont Fuel Cell, Hitachi Ltd., Cmr Fuel Cells Plc, amongst others.
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Important factors that are mentioned in the PEM Fuel Cells Market report 2023…
Key Market Dynamics: The Global PEM Fuel Cells Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in a huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
Major Growth Prospects: The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
Key Market Highlights: The report gives us an in-depth Market analysis on some of the PEM Fuel Cells Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.
Potential Customers: The PEM Fuel Cells Market report provides significant insights to readers, service providers, suppliers, distributors, manufacturers, stakeholders, and individuals who are interested in evaluation and self-studying the PEM Fuel Cells market.