Proton Exchange Membrane Fuel Cell (PEMFC) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Proton Exchange Membrane Fuel Cell (PEMFC) Market
The proton exchange membrane fuel cell (PEMFC) market size was valued at USD .323 billion in 2023, and the market is now projected to grow from USD .558 billion in 2024 to USD 2.873 billion by 2032, exhibiting a CAGR of 22.73% during the forecast period of 2024-2032.
The COVID-19 pandemic prompted numerous challenges inside the global proton exchange membrane fuel cell (PEMFC) market growth. The call for PEMFC additionally acquired a negative impact due to the shutdown of some cease-person groups specifically within the business and commercial sectors. Besides, the issues in the delivery chain led to an increase in the production and distribution instances and increased the price of PEMFC components and structures.
This approach is majorly attributed to the need for the global market to have access to clean power alternatives and options for options in the growing need for obtaining energy efficiency and controlling the high levels of greenhouse gas emission into the atmosphere in the stationary applications of the proton exchange membrane fuel cell. PEMFCs are considered a clean energy system since no toxic materials are released into the environment during energy production. Population increases with time in every corner of the globe and there is a rapid construction of dwellings, offices, and factories which resulted in the increased need for power and electricity. For this reason, the augmenting government endeavors for the promotion of the power generation potential can be consideredone of the major growth drivers in the proton exchange membrane fuel cell (PEMFC) market share.
The booming of the above industries supported by the increased number of installed IoT devices demands increased data centers for the processing, storing, and analyzing of data generated by devices and industries.
Comprehensive Analysis of Proton Exchange Membrane Fuel Cell (PEMFC)Market
The PEMFC market is discussed in terms of applications in various sectors such as power stations, data centers, steel mills, hospitals, ports, petrochemicals, commercial and residential buildings, and others. This market analysis also focuses on the regional growth and penetration of the market in major regions such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report presents findings on technological trends, policies, and competitive forces that shape PEMFC growth across these industries and jurisdictions.
North America has the highest PEMFC market for stationary application share with a value of. 146 billion in 2023. This region includes some of the most prominent countries in the PEMFC market (the United States and Canada) which has made this region the global leader in this market.
Plug Power Inc. (U.S.), Cummins Inc. (U.S.), Toshiba Corporation (Japan), TW Horizon Fuel Cell Technologies (Singapore), Nedstack Fuel Cell, Technology BV (Netherlands), ElringKlinger AG (Germany), Intelligent Energy Limited (U.K.), Ballard Power Systems (Canada), Nuvera Fuel Cells, LLC (U.S.), and Johnson Matthey (U.K.) are some major players in this industry. These groups of companies who are leaders within the discipline offer a stage playing field for all their competitors as they guarantee increase and set requirements for the arena.
In October 2023, TW Horizon announced the commercial production of its containerized 2MW PEM fuel cell “Combined Heat and Power” (CHP) system with the plan to install 100MW of stationary power plants in the global market.
Segmentation Table
Global Thermoplastic Polyurethane [TPU] Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 22.73% from 2024 to 2032
Unit Value (USD Million)
Segmentation By End-User and By Region
By End-User
Power Plants
Data Center
Steel Industry
Healthcare
Marine Port
Chemical Industry
Commercial & Residential
Others
By Region North America (By End-user and By Country)
- U.S. (By End-user)
- Canada (By End-user)
Europe (By End-user and By Country)
- U.K. (By End-user)
- Germany (By End-user)
- France (By End-user)
- Netherlands (By End-user)
- Rest of the Europe (By End-user)
Asia Pacific (By End-user and By Country)
- China (By End-user)
- South Korea (By End-user)
- Japan (By End-user)
- Rest of Asia Pacific (By End-user)
Rest of the World (By End-user)
Please Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Prevalence of Key Cardiovascular Diseases, By Key Countries/Regions, 2022/2023
- 4.2. Technological Advancements in Cardiac Troponin Testing
- 4.3. New Product Launches. By Key Players
- 4.4. Key Industry Developments (Mergers, Acquisitions, Partnerships etc.)
- 4.5. Impact of COVID-19 on the Market
- 5. Global Cardiac Troponin Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast – By Type
- 5.1.1. Troponin T
- 5.1.2. Troponin I
- 5.2. Market Analysis, Insights and Forecast – By Setting
- 5.2.1. Laboratory Testing
- 5.2.2. Point-of-Care (POC) Testing
- 5.3. Market Analysis, Insights and Forecast – By Indication
- 5.3.1. Myocardial Infarction
- 5.3.2. Congestive Heart Failure
- 5.3.3. Acute Coronary Syndrome
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By End-User
- 5.4.1. Hospitals & Clinics
- 5.4.2. Diagnostic Laboratories
- 5.4.3. Homecare Settings & Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Cardiac Troponin Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Type
- 6.1.1. Troponin T
- 6.1.2. Troponin I
- 6.2. Market Analysis, Insights and Forecast – By Setting
- 6.2.1. Laboratory Testing
- 6.2.2. Point-of-Care (POC) Testing
- 6.3. Market Analysis, Insights and Forecast – By Indication
- 6.3.1. Myocardial Infarction
- 6.3.2. Congestive Heart Failure
- 6.3.3. Acute Coronary Syndrome
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By End-User
- 6.4.1. Hospitals & Clinics
- 6.4.2. Diagnostic Laboratories
- 6.4.3. Homecare Settings & Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
- 7. Europe Cardiac Troponin Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Type
- 7.1.1. Troponin T
- 7.1.2. Troponin I
- 7.2. Market Analysis, Insights and Forecast – By Setting
- 7.2.1. Laboratory Testing
- 7.2.2. Point-of-Care (POC) Testing
- 7.3. Market Analysis, Insights and Forecast – By Indication
- 7.3.1. Myocardial Infarction
- 7.3.2. Congestive Heart Failure
- 7.3.3. Acute Coronary Syndrome
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By End-User
- 7.4.1. Hospitals & Clinics
- 7.4.2. Diagnostic Laboratories
- 7.4.3. Homecare Settings & Others
- 7.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 7.5.1. U.K.
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Rest of Europe
- 8. Asia Pacific Cardiac Troponin Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Type
- 8.1.1. Troponin T
- 8.1.2. Troponin I
- 8.2. Market Analysis, Insights and Forecast – By Setting
- 8.2.1. Laboratory Testing
- 8.2.2. Point-of-Care (POC) Testing
- 8.3. Market Analysis, Insights and Forecast – By Indication
- 8.3.1. Myocardial Infarction
- 8.3.2. Congestive Heart Failure
- 8.3.3. Acute Coronary Syndrome
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By End-User
- 8.4.1. Hospitals & Clinics
- 8.4.2. Diagnostic Laboratories
- 8.4.3. Homecare Settings & Others
- 8.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. Rest of Asia Pacific
- 9. Latin America Cardiac Troponin Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Type
- 9.1.1. Troponin T
- 9.1.2. Troponin I
- 9.2. Market Analysis, Insights and Forecast – By Setting
- 9.2.1. Laboratory Testing
- 9.2.2. Point-of-Care (POC) Testing
- 9.3. Market Analysis, Insights and Forecast – By Indication
- 9.3.1. Myocardial Infarction
- 9.3.2. Congestive Heart Failure
- 9.3.3. Acute Coronary Syndrome
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By End-User
- 9.4.1. Hospitals & Clinics
- 9.4.2. Diagnostic Laboratories
- 9.4.3. Homecare Settings & Others
- 9.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Rest of Latin America
- 10. Middle East & Africa Cardiac Troponin Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Analysis, Insights and Forecast – By Type
- 10.1.1. Troponin T
- 10.1.2. Troponin I
- 10.2. Market Analysis, Insights and Forecast – By Setting
- 10.2.1. Laboratory Testing
- 10.2.2. Point-of-Care (POC) Testing
- 10.3. Market Analysis, Insights and Forecast – By Indication
- 10.3.1. Myocardial Infarction
- 10.3.2. Congestive Heart Failure
- 10.3.3. Acute Coronary Syndrome
- 10.3.4. Others
- 10.4. Market Analysis, Insights and Forecast – By End-User
- 10.4.1. Hospitals & Clinics
- 10.4.2. Diagnostic Laboratories
- 10.4.3. Homecare Settings & Others
- 10.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis (2023)
- 11.2. Company Profiles
- 11.2.1. F. Hoffmann-La Roche Ltd.
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Strategies
- 11.2.1.6. financials (Based on Availability)
- 11.2.2. bioMérieux SA
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Strategies
- 11.2.2.6. financials (Based on Availability)
- 11.2.3. Abbott
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Strategies
- 11.2.3.6. financials (Based on Availability)
- 11.2.4. Siemens Healthineers AG
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Strategies
- 11.2.4.6. financials (Based on Availability)
- 11.2.5. Eurolyser Diagnostica GmbH
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Strategies
- 11.2.5.6. financials (Based on Availability)
- 11.2.6. QuidelOrtho (Quidel Corporation)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Strategies
- 11.2.6.6. financials (Based on Availability)
- 11.2.7. PerkinElmer Inc.
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Strategies
- 11.2.7.6. financials (Based on Availability)
- 11.2.8. Beckman Coulter, Inc. (Danaher)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Strategies
- 11.2.8.6. financials (Based on Availability)
- 11.2.9. RESPONSE BIOMEDICAL
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Strategies
- 11.2.9.6. financials (Based on Availability)
- 11.2.10. LifeSign LLC.
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Strategies
- 11.2.10.6. financials (Based on Availability)
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook