Report ID: SQMIG10C2013
PEM (Proton Exchange Membrane) Market Size, Share, Growth Analysis, By Type(Polyaromatic Polymers Membrane, Partially Fluorinated Polymers Membrane), By Application(Automotive, stationary power generation, portable electronics, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG10C2013 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
63 |
Figures:
77
PEM (Proton Exchange Membrane) Market Regional Insights
The North American region dominated the global market owing to rising demand for proton exchange membrane (PEM) technology as a result of increased government initiatives to promote clean energy and reduce carbon emissions. Both regions have thriving automotive industries that are adopting fuel cell technology in order to meet regulatory requirements and address environmental concerns.
The Asia-Pacific market is expected to grow at the fastest CAGR. This is primarily due to rising demand for fuel cell vehicles and government initiatives to promote clean energy in countries such as China, Japan, and South Korea. The region has a large consumer base for fuel cell vehicles, and several major automotive manufacturers, including Toyota and Hyundai, have already launched commercial fuel cell vehicles in the region. Furthermore, the Asia-Pacific region is home to several key PEM market players, including Ballard Power Systems, Plug Power Inc., and Horizon Fuel Cell Technologies. These companies are heavily investing in R&D to develop more efficient and cost-effective PEM technology.
PEM (Proton Exchange Membrane) Market Report Snapshots
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