The Proton Exchange Membrane Fuel Cell (PEMFC) Market size was valued at USD 3.83 billion in 2022 and is expected to grow to USD 14.59 billion by 2030 and grow at a CAGR of 18.2 % over the forecast period of 2023-2030.
A hydrogen-based fuel cell called a proton exchange membrane fuel cell (PEMFC) is made up of a unique proton-conducting polymer electrolyte membrane. PEMFC can operate in temperatures between 50 and 1000 degrees Celsius. The main benefit that will propel the adoption of PEMFC throughout the predicted period is the reaction's sole water-based waste in the fuel cell. The fuel cell is regarded as the most ideal option for the transportation industry as a result of this feature.
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The polymer electrolyte membrane (PEM) fuel cell, often referred to as a proton exchange membrane fuel cell (PEMFC), is a type of fuel cell that is primarily being developed for use in transportation as well as stationary and mobile fuel-cell applications. They have a specific proton-conducting polymer electrolyte membrane and a narrower temperature range, which are their distinguishing characteristics.
In contrast to PEM electrolysis, which consumes electricity, PEMECs create it. The PEMEC is a great option for mobile applications of various sizes, including mobile phones, due to its tiny size in other mobile and automotive applications.
KEY DRIVERS:
Initiatives towards developing hydrogen technology
Growing Attention to Reduce Carbon Footprint and Reduce Other Negative Emissions
Better Fuel Efficiency and Less Dependence on Fossil Fuels
Proton exchange membrane fuel cells are employed as a power source in a variety of fixed and mobile, as well as transportation-related, applications, which enables the global energy infrastructure to be strengthened and diversified. It offers a safe, dependable, and more energy-efficient way to meet the continuously expanding need for electricity. Therefore, over the projection period, the demand for these fuel cells across various application sectors would be driven by improved fuel economy and a trend towards the adoption of zero-emission automobiles.
RESTRAIN:
High cost of producing
OPPORTUNITY:
Technological Advancement
Lowering the percentage of platinum used in fuel cells
CHALLENGES:
High initial investments
Rising demand for other electric vehicles and managing bulk Hydrogen Fueling Stations.
The increasing demand for electric cars, including battery electric vehicles and plug-in hybrid Electric Vehicles, is the main factor that might limit the expansion of the proton exchange membrane fuel cell sector. Due to its numerous benefits, including improved efficiency, no harmful byproducts, cost-effectiveness, and energy security, the demand for these cars is growing significantly. This aspect could impede growth.
IMPACT OF RUSSIA-UKRAINE WAR
We demonstrate that overall energy expenditures (direct and indirect) for families have grown by at least 63% and perhaps as high as 118% (i.e., more than doubled) based on a range of energy pricing scenarios. Between 2.7% and 4.8% more is spent by households worldwide as a result of this. This is a significant change that is comparable to a major economic shock: households all over the world now need to find a few percent of additional income merely to maintain their quality of life from before 2022.
By Type
High Temperature
Low Temperature
By Material
Membrane Electrode Assembly
Hardware
Others
By Application
Automotive
Portable
Stationary
Others
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Due to attempts by various governments in the area to develop and expand the hydrogen infrastructure, Asia Pacific has been the market's main region. Key industry companies are also present in the region, which has aided in their domination of the international market. Also, due to its government's strong desire to create a society free of carbon emissions and its enormous FCEV ambitions, Japan is expected to dominate the sector in terms of volume over the long term. Additionally, the administration is continuously developing frameworks and policies to meet the objective of creating a carbon-negative economy.
The U.S. is expected to grow exponentially in North America as a result of supportive government goals and significant investments in research and development. The administration has set ambitious aims to encourage the use of hydrogen-powered passenger cars, which are expected to increase regional demand for fuel cell vehicles. In order to lessen the nation's reliance on fossil fuels, governments like California have the vision to deploy commercial vehicles, particularly buses, during the anticipated period. Additionally, it seeks to reduce carbon footprint.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Ballard Power Systems (Canada), Plug Power (United States), Hydrogenics (Canada), Nuvera Fuel Cells, LLC (United States), Horizon Fuel Cell Technologies (China), Nedstack Fuel Cell Technology (Netherlands), ITM Power (United Kingdom), AVL (Austria),ElringKlinger (Germany), Intelligent Energy (United Kingdom), W.L. Gore & Associates (United States), Pragma Industries (France), Umicore (Belgium) and other players are listed in a final report.
In August 2022, Toyota Motor North America (Toyota) and the National Renewable Energy Laboratory (NREL) signed a cooperative research and development agreement to build, install, and test a 1-megawatt (MW) solar power plant. NREL's Flatirons Campus is home to a proton exchange membrane (PEM) fuel cell power generating facility.
In April 2022, SFC Energy and FC TecNray, two German businesses, agreed to collaborate on the production of methanol-based fuel cells. as well as hydrogen in India. The business has disclosed plans to introduce the EFOY hydrogen fuel cell in India will significantly contribute to the achievement of the nation's hydrogen ambitions, including initiatives to create up to 5 million tonnes of by 2030, green hydrogen.
Panasonic Corporation said in October 2021 that it has created a 100% hydrogen fuel cell generator, which produces energy by combining oxygen and high-purity hydrogen in the air in a chemical process.
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.83 Billion |
| Market Size by 2030 | US$ 14.59 Billion |
| CAGR | CAGR of 18.2 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (High Temperature, Low Temperature) • By Material (Membrane Electrode Assembly, Hardware, Others) • By Application (Automotive, Portable, Stationary, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Ballard Power Systems (Canada), Plug Power (United States), Hydrogenics (Canada), Nuvera Fuel Cells, LLC (United States), Horizon Fuel Cell Technologies (China), Nedstack Fuel Cell Technology (Netherlands), ITM Power (United Kingdom), AVL (Austria),ElringKlinger (Germany), Intelligent Energy (United Kingdom), W.L. Gore & Associates (United States), Pragma Industries (France), Umicore (Belgium) |
| Key Drivers | • Initiatives towards developing hydrogen technology • Growing Attention to Reduce Carbon Footprint and Reduce Other Negative Emissions • Better Fuel Efficiency and Less Dependence on Fossil Fuels |
| Market Opportunities | • Technological Advancement • Lowering the percentage of platinum used in fuel cells |
Ans: Proton Exchange Membrane Fuel Cell (PEMFC) Market is anticipated to expand by 18.2 % from 2023 to 2030.
Ans: USD 14.59 billion is expected to grow by 2030.
Ans: Proton Exchange Membrane Fuel Cell (PEMFC) Market size was valued at USD 3.83 billion in 2022
Ans: Technological Advancement and Reducing the share of platinum in the fuel cell
Ans: High initial investments and Rising demand for other electric vehicles and managing bulk hydrogen stations.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Proton Exchange Membrane Fuel Cell (PEMFC) Market Segmentation, By Type
8.1High Temperature
8.2 Low Temperature
9. Proton Exchange Membrane Fuel Cell (PEMFC) Market Segmentation, By Material
9.1 Membrane Electrode Assembly
9.2 Hardware
9.3 Others
10. Proton Exchange Membrane Fuel Cell (PEMFC) Market Segmentation, By Application
10.1 Automotive
10.2 Portable
10.3 Stationary
10.4 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Country
11.2.2North America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.2.3 North America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.2.4 North America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.2.5 USA
11.2.5.1 USA Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.2.5.2 USA Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.2.5.3 USA Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.2.6 Canada
11.2.6.1 Canada Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.2.6.2 Canada Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.2.6.3 Canada Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.2.7.2 Mexico Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.2.7.3 Mexico Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Country
11.3.1.2 Eastern Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.1.3 Eastern Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.1.4 Eastern Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.1.5 Poland
11.3.1.5.1 Poland Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.1.5.2 Poland Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.1.5.3 Poland Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.1.6 Romania
11.3.1.6.1 Romania Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.1.6.2 Romania Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.1.6.4 Romania Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.1.7 Turkey
11.3.1.7.1 Turkey Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.1.7.2 Turkey Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.1.7.3 Turkey Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.1.8.2 Rest of Eastern Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.1.8.3 Rest of Eastern Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2 Western Europe
11.3.2.1 Western Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.2 Western Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.3 Western Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.4 Germany
11.3.2.4.1 Germany Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.4.2 Germany Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.4.3 Germany Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.5 France
11.3.2.5.1 France Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.5.2 France Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.5.3 France Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.6 UK
11.3.2.6.1 UK Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.6.2 UK Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.6.3 UK Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.7 Italy
11.3.2.7.1 Italy Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.7.2 Italy Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.7.3 Italy Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.8 Spain
11.3.2.8.1 Spain Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.8.2 Spain Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.8.3 Spain Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.9.2 Netherlands Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.9.3 Netherlands Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.10.2 Switzerland Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.10.3 Switzerland Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.11.1 Austria
11.3.2.11.2 Austria Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.11.3 Austria Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.11.4 Austria Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.3.2.12.2 Rest of Western Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.3.2.12.3 Rest of Western Europe Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4 Asia-Pacific
11.4.1 Asia-Pacific Proton Exchange Membrane Fuel Cell (PEMFC) Market by Country
11.4.2 Asia-Pacific Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.3 Asia-Pacific Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.4 Asia-Pacific Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4.5 China
11.4.5.1 China Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.5.2 China Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4.5.3 China Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.6 India
11.4.6.1 India Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.6.2 India Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.6.3 India Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4.7 Japan
11.4.7.1 Japan Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.7.2 Japan Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.7.3 Japan Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4.8 South Korea
11.4.8.1 South Korea Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.8.2 South Korea Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.8.3 South Korea Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4.9 Vietnam
11.4.9.1 Vietnam Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.9.2 Vietnam Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.9.3 Vietnam Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4.10 Singapore
11.4.10.1 Singapore Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.10.2 Singapore Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.10.3 Singapore Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4.11 Australia
11.4.11.1 Australia Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.11.2 Australia Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.11.3 Australia Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.4.12.2 Rest of Asia-Pacific Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.4.12.3 Rest of Asia-Pacific Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Proton Exchange Membrane Fuel Cell (PEMFC) Market by Country
11.5.1.2 Middle East Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.1.3 Middle East Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.1.4 Middle East Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.1.5 UAE
11.5.1.5.1 UAE Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.1.5.2 UAE Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.1.5.3 UAE Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.1.6 Egypt
11.5.1.6.1 Egypt Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.1.6.2 Egypt Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.1.6.3 Egypt Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.1.7.2 Saudi Arabia Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.1.7.3 Saudi Arabia Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.1.8 Qatar
11.5.1.8.1 Qatar Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.1.8.2 Qatar Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.1.8.3 Qatar Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.1.9.2 Rest of Middle East Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.1.9.3 Rest of Middle East Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.2 Africa
11.5.2.1 Africa Transfusion Diagnostics Market by Country
11.5.2.2 Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.2.3 Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.2.4 Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.2.5.2 Nigeria Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.2.5.3 Nigeria Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.2.6 South Africa
11.5.2.6.1 South Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.2.6.2 South Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.2.6.3 South Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.5.2.7.2 Rest of Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.5.2.7.3 Rest of Africa Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.6 Latin America
11.6.1 Latin America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Country
11.6.2 Latin America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.6.3 Latin America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.6.4 Latin America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.6.5 Brazil
11.6.5.1 Brazil America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.6.5.2 Brazil America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.6.5.3 Brazil America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.6.6 Argentina
11.6.6.1 Argentina America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.6.6.2 Argentina America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.6.6.3 Argentina America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.6.7 Colombia
11.6.7.1 Colombia America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.6.7.2 Colombia America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.6.7.3 Colombia America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Type
11.6.8.2 Rest of Latin America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Material
11.6.8.3 Rest of Latin America Proton Exchange Membrane Fuel Cell (PEMFC) Market by Application
12 Company Profile
12.1 Ballard Power Systems (Canada)
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Plug Power (United States)
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Hydrogenics (Canada)
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Nuvera Fuel Cells, LLC (United States)
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Horizon Fuel Cell Technologies (China)
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Nedstack Fuel Cell Technology (Netherlands)
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 ITM Power (United Kingdom)
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 AVL (Austria)
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 ElringKlinger (Germany)
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Intelligent Energy (United Kingdom)
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 W.L. Gore & Associates (United States)
12.11.1 Company Overview
12.11.2 Financials
12.11.3 Product/Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
12.12 Pragma Industries (France)
12.12.1 Company Overview
12.12.2 Financials
12.12.3 Product/Services Offered
12.12.4 SWOT Analysis
12.12.5 The SNS View
12.13 Umicore (Belgium)
12.13.1 Company Overview
12.13.2 Financials
12.13.3 Product/Services Offered
12.13.4 SWOT Analysis
12.13.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The High-Speed Engine Market size was valued at USD 24.58 billion in 2022 and is expected to grow to USD 33.38 billion by 2030 and grow at a CAGR of 3.9% over the forecast period of 2023-2030.
The Solid oxide fuel cell for CHP application market size was valued at USD 9.4 Million in 2022 and is expected to grow to USD 32.11 Million by 2030 and grow at a CAGR of 16.6 % over the forecast period of 2023-2030.
The Power Device Analyzer Market size was valued at USD 472 million in 2022 and is expected to grow to USD 702.68 million by 2030 and grow at a CAGR of 5.1% over the forecast period of 2023-2030.
The MOSFET Relay Market size was valued at USD 235 million in 2022 and is expected to grow to USD 475 million by 2030 and grow at a CAGR of 9.2% over the forecast period of 2023-2030.
The Centrifugal Pump Market size was valued at USD 38.4 billion in 2022 and is expected to grow to USD 58.93 billion by 2030 and grow at a CAGR of 5.5% over the forecast period of 2023-2030.
The Gas To Liquid (GTL) Market size was valued at USD 14.8 billion in 2022 and is expected to grow to USD 24.40 billion by 2030 and grow at a CAGR of 6.45% over the forecast period of 2023-2030.
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