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North America Proton Exchange Membrane (PEM) Fuel Cell Market Trends

Report ID: GMI8699
Published Date: Mar 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of North America PEM fuel cell was reached USD 902.1 million in 2023 and is anticipated to witness 8.7% CAGR up to 2032, due to the importance of converting the chemical energy stored in hydrogen fuel directly into electrical energy, with water and heat as the byproducts.

North America PEM fuel cell market size from the stationary application is anticipated to exceed USD 196 million by 2032, owing to growing utilization for backup power in critical infrastructure, comprising of telecommunications towers, data centers, and emergency response facilities.

U.S. PEM fuel cell industry is anticipated reach a revenue of USD 1.73 billion by 2032 owing to supportive government policies and increasing demand for clean and sustainable energy solutions.

Some of the eminent PEM fuel cell firms in Norh America 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 and TW Horizon Fuel Cell Technologies