North America Proton Exchange Membrane (PEM) Fuel Cell Market Size - By Application (Stationary, Portable, Transport), Country Analysis & Forecast, 2024 – 2032

North America PEM Fuel Cell Market Size

North America PEM Fuel Cell Market was valued USD 902.1 million in 2023 and is anticipated to grow at a CAGR of 8.7% between 2024 and 2032. It is a type of fuel cell that generates electricity through an electrochemical reaction between hydrogen and oxygen. It operates based on the principle of converting the chemical energy stored in hydrogen fuel directly into electrical energy, with water and heat as the byproducts.
 

Large scale expansion of hydrogen infrastructure, including production, storage, and distribution facilities along with investments in hydrogen production technologies, electrolysis, and hydrogen refueling stations will stimulate the business landscape. Additionally, growing concerns about air pollution, greenhouse gas emissions, and energy security with PEM fuel cells offering long-range capabilities, rapid refueling, and zero tailpipe emissions will fuel the industry growth. Furthermore, shifting focus toward decentralized energy solutions, such as microgrids and off-grid power systems, is creating opportunities for PEM fuel cells to provide localized, clean energy generation.
 

North America PEM Fuel Cell Market Trends

Ongoing research and development efforts are focused on improving the efficiency and performance of PEM fuel cells. This includes enhancing catalyst materials, membrane durability, and system integration to increase power output, reduce degradation, and extend operational lifetimes. Advances in manufacturing processes, material optimization, and scale economies are driving down the cost of PEM fuel cell systems, making them more competitive with conventional energy technologies. Moreover, ongoing integration with renewable energy sources enables renewable energy storage, grid stabilization, and off-grid power generation, supporting the transition to a sustainable energy system.
 

North America PEM Fuel Cell Market Analysis

Based on Application, the stationary segment is likely to reach USD 196 million by 2032. Utilization of PEM fuel cells for backup power in critical infrastructure, comprising of telecommunications towers, data centers, and emergency response facilities, will spur the product adoption. They offer a reliable and efficient alternative to traditional diesel generators, with lower emissions and noise levels. In addition, ongoing integration into distributed energy systems, including microgrids and off-grid communities, to provide clean and resilient power generation development will strengthen the industry statistics.
 

Transport segment is set to grow at a CAGR of over 9% through 2032, on account of use in commercial vehicles including buses, trucks, and trains coupled with various pilot & demonstration projects of fuel cell-powered buses and trains across the region. Increasing use of hydrogen fuel cell technology as a zero-emission alternative to conventional internal combustion engines and battery electric vehicles will augment the industry landscape. Adoption of PEM fuel cells in FCVs owing to introduction of commercial fuel cell vehicle models by various automakers will drive the hydrogen infrastructure development, leading to enhanced product adoption. Additionally, increasing investments across the economy will drive the business outlook.
 

U.S. PEM fuel cell market is anticipated to exceed USD 1.73 billion by 2032 owing to advancements in technology, supportive government policies, and increasing demand for clean and sustainable energy solutions. Continued investment in R&D, infrastructure development, and market expansion coupled with federal tax credits, grants, and loan programs support the development and deployment of fuel cell technology in the U.S. In addition, several states offer incentives for fuel cell vehicles, hydrogen infrastructure development, and stationary fuel cell systems.
 

North America PEM Fuel Cell Market Share

The major manufacturers of the industry are involved in the detailed engineering design of the project, procurement of the necessary materials and equipment, and construction/installation of the entire solar power plant. They are supportive of delivering solar power projects of varying scales across the globe. They contribute significantly to the growth of renewable energy capacity worldwide. The landscape of Solar EPC providers is constantly evolving with technological advancements, changes in regulatory policies, along with shifts in market demand.
 

North America PEM Fuel Cell Market Companies

Eminent players operating in the Norh America PEM Fuel Cell industry include:

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

North America PEM Fuel Cells Industry News

• In October 2023, Horizon Fuel Cell Technologies delivered a MW PEM fuel cell CHP (Combined Heat and Power) system. This system utilizes waste hydrogen from industrial process and generate both heat and electricity. The company aims to deploy zero-emission stationary power plants globally. With a growing emphasis on decarbonized solutions, the company envisions MW-scale integrated green hydrogen power plants replacing diesel generators and complementing renewable energy sources. Therefore, the order has marked a significant presence of the company across the market and solidified its customer base.
   
• In April 2023, SFC Energy AG signed an MoU (Memorandum of Understanding) with Johnson Matthey to develop hydrogen fuel cells for stationary applications. The PEM components will be built under a JDA (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 North America PEM fuel cell market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “MW & USD Million” from 2019 to 2032, for the following segments:

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Market, By Application

• Stationary
• Portable
• Transport

The above information has been provided for the following countries:

• U.S.
• Canada