Global PEMFC (Proton Exchange Membrane Fuel Cells) Market 2015-2019
PEMFC are devices that generate electricity through an electrochemical process involving oxidation of electrolytes placed between the anode and the cathode. Fuel cells are generally categorized based on the type of electrolyte used. PEMFC use an acidic water-based polymer membrane with platinum-based electrodes. It operates at low temperatures and caters effectively to dynamic power requirements. The chemical source of PEMFC, which is hydrogen, needs to be extremely pure because of its operating temperature and use of precious metal-based electrodes. PEMFC is a fuel-cell technology that is used extensively in light duty and material handling vehicles.
TechNavio's analysts forecast the global PEMFC market to grow at a CAGR of 26.67 in terms of unit shipment and at 19.74 percent in terms of MW shipment over the period 2014-2019.
Covered in this Report
TechNavio's report, Global PEMFC Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the forecast of the global PEMFC market and its growth prospects in the coming years. The report also includes segmentation on the basis of application and geography. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global PEMFC Market 2015-2019
Technavio recognizes the following companies as the key players in the global PEMFC market: Ballard Power Systems, FuelCell Energy Inc., Hydrogenics Corp., Plug Power and Protonex Technology Corp.
Other Prominent Vendors in the market are: Altergy Systems, ElectroChem, FKK, Horizon Fuel Cell Technologies, Johnson Matthey Fuel Cells, Nedstack PEM Fuel Cells, Nuvera Fuel Cells, Oorja Protonics, SerEnergy, Shanghai EverPower Technologies and Sunrise Power
Commenting on the report, an analyst from Technavio’s team said: “Increased investment in R&D is a key trend influencing the market. Many universities and governmental organizations are engaged in research and demonstration projects of new technologies in the PEMFC industry.”
According to the report, abundant energy sources and emerging applications act as a major driver in the global PEMFC market. Hydrogen is used in stationary PEMFCs as a fuel as it is the lightest, most abundant element in the universe.
Further, the report states that functional issues related to PEMFC applications are a challenge hindering the growth of the global PEMFC market. Current compressor technologies are not suitable for PEMFC applications, which makes air management difficult.
Ballard Power Systems, FuelCell Energy Inc, Hydrogenics Corp, Plug Power and Protonex Technology Corp, Altergy Systems, ElectroChem, FKK, Horizon Fuel Cell Technologies, Johnson Matthey Fuel Cells, Nedstack PEM Fuel Cells, Nuvera Fuel Cells, Oorja Protonics, SerEnergy, Shanghai EverPower Technologies, Sunrise Power