PEMFC (Proton Exchange Membrane Fuel Cells): Global Strategic Business Report

Global PEMFC (Proton Exchange Membrane Fuel Cells) Market to Reach $14.7 Billion by 2027

In the changed post COVID-19 business landscape, the global market for PEMFC (Proton Exchange Membrane Fuel Cells) estimated at US$1.4 Billion in the year 2020, is projected to reach a revised size of US$14.7 Billion by 2027, growing at a CAGR of 39.3% over the analysis period 2020-2027. Transport, one of the segments analyzed in the report, is projected to record a 41.4% CAGR and reach US$11.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Stationary segment is readjusted to a revised 34.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $408.1 Million, While China is Forecast to Grow at 37.6% CAGR

The PEMFC (Proton Exchange Membrane Fuel Cells) market in the U.S. is estimated at US$408.1 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2027 trailing a CAGR of 37.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 36% and 33.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 27.4% CAGR.

Other Applications Segment to Record 26.1% CAGR

In the global Other Applications segment, USA, Canada, Japan, China and Europe will drive the 26.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$60.8 Million in the year 2020 will reach a projected size of US$306.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 18 Featured) -

• Altergy Systems
• Ballard Power Systems, Inc.
• FKK Corporation
• FuelCell Energy, Inc.
• Horizon Fuel Cell Technologies Pte Ltd.
• Hydrogenics Corporation
• Johnson Matthey Fuel Cells
• Nedstack Fuel Cell Technology BV
• Nuvera Fuel Cells LLC
• Oorja Corporation
• Plug Power Inc.
• Protonex Technology Corporation
• RELiON Battery, LLC
• SerEnergy A/S
• Shanghai EverPower Technologies., Ltd.
• Toho Gas Co., Ltd.

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