Europe Proton Exchange Membrane Fuel Cell Market Size - By Application (Stationary, Portable, Transport), 2023 – 2032

Europe Proton Exchange Membrane Fuel Cell Market Size

Europe Proton Exchange Membrane Fuel Cell Market was valued at 0.4 billion in 2022 and is set register around 11.7% CAGR between 2023 and 2032. Stringent emission reduction targets along with usage of the technology as a viable option for fuel cell vehicles (FCVs) will drive the product adoption. For instance, in October 2023, the European Council set the target of 45% emission reduction for new heavy-duty vehicles by the year 2030.
 

Increasing focus towards green hydrogen production coupled with upsurge in investments for the development of hydrogen economy will complement the business scenario. PEMFCs efficiently use green hydrogen for clean energy generation, thereby augmenting the unit deployment. Furthermore, rising utilization of the systems across maritime and rail transportation owing to rising green house gas emissions from shipping will sway the business landscape.
 

COVID- 19 Impact

The COVID- 19 outbreak has impacted the industry in terms of a slowdown in industrial operations along with restricted workforce management. However, the industry will witness a growth owing to continuous product developments along with extensive demand for clean and efficient alternative will enhance the industry dynamics. Moreover, strict government policies in line with ongoing private and public sector investments will boost the product demand.
 

Europe Proton Exchange Membrane Fuel Cell Market Trends

The fuel cells known for their high-power density, rapid startup, and suitability for a variety of applications coupled with ongoing research and development activities to improve upon the performance, durability, and cost-effectiveness will boost the industry potential. In addition, collaboration between governments, industry players, and research institutions in conjunction with growing consumer awareness towards fuel cell technology will accelerate the product penetration.
 

Europe Proton Exchange Membrane Fuel Cell Market Analysis

Based on application, the stationary PEM fuel cell market will surpass USD 80 million by 2032 owing to increasing deployment of hydrogen refueling stations in line with ability of these fuel cells to provide backup power and ensure reliability. Additionally, favorable investments across private & public sectors for the growth of energy sector coupled with continuous technological enhancements across the economies will foster the product portfolio.
 

The transport market is anticipated to grow at a rate of over 11.5% through 2032 owing to its contribution to improve air quality combined with continuous efforts by automotive manufacturers to advance the development and deployment of the technology across the transportation sector. Furthermore, growing adoption of the product in commercial vehicles, including trucks and logistics fleets to reduce emissions and operating costs in line with various countries integrating hydrogen powered buses and other public transportation vehicles into their fleets will facilitate the product penetration.
 

Germany proton exchange membrane fuel cell market valuation was recorded USD 165 million in 2022. Paradigm shift towards decentralized energy generation supported by PEM technology along with commitment by manufacturers for environment protection and climate change mitigation is set to positively stimulate the product demand. Increasing requirement of renewable energy sources together with rising focus for the development of smart infrastructure will drive the industry outlook. Moreover, favorable government policies along with introduction of investments and incentives for the development of efficient fuel cell technology will support the business trends.
 

• PEMFCs allow efficient energy conversion along with power provision during grid outages or peak demand periods.
   
• They contribute to grid stability by supplying electricity and potentially participating in demand response programs.
   
• Innovations in materials and manufacturing processes will further drive the market growth.
   
• Manufacturers as well as developers of PEMFC technology are exploring the international markets, thereby contributing to the global expansion of fuel cell technology.
   
• Stringent emission regulations in Europe are driving automakers to explore the technology as a means of achieving zero-emission vehicle fleets.
   
• PEMFCs are used for stationary power generation across residential, commercial, and industrial applications in Europe. They offer combined heat and power (CHP) capabilities, thereby improving energy efficiency and reducing emissions.
   

Europe Proton Exchange Membrane Fuel Cell Market Share

Eminent players operating in the Europe proton exchange membrane fuel cell industry are:

• Cummins Inc
• Ballard Power Systems
• PLUG POWER INC.
• NUVERA FUEL CELLS, LLC.
• Nedstack Fuel Cell Technology BV
• Panasonic Corporation
• Doosan Fuel Cell Co., Ltd.
• SFC Energy AG
• Robert Bosch GmbH
• TW Horizon Fuel Cell Technologies
• Air Liquide Energies
• Hyundai Motor Company

Europe Proton Exchange Membrane Fuel Cell Industry News

• In May 2023, Plug Power Inc. introduced a stationary high-power fuel cell system for charging commercial EV fleets. The multi-megawatt PEM fuel cell integrated with a liquid hydrogen tank can charge over 600 EVs. The fuel cell cost-effectively charges vehicles without emitting carbon. The product innovation strengthened the company’s position in the fuel cell market.
   
• In April 2023, SFC Energy AG and Johnson Matthey signed an MoU to develop hydrogen fuel cells for stationary applications. The PEM components will be built under a joint development agreement, in which Johnson Matthey will supply these products for at least five years. This agreement will support the company to expand its product portfolio across various economies around the globe.
   

This Europe proton exchange membrane fuel cell market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘MW & USD Million’ from 2023 to 2032 for the following segments:

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By Application

• Stationary
• Portable
• Transport

The above information has been provided for the following countries:

• Germany
• UK
• France
• Italy
• Spain
• Austria