PEM Fuel Cell Catalysts Market Size, Share, Growth, and Industry Analysis, By Type (Platinum-based, Non-platinum and Others), By Application (Transportation, Stationary Power, Portable Power and Others) Regional Forecast From 2025 To 2033

• 

   Request a Free Sample To Get More Information on this Market

PEM FUEL CELL CATALYSTS MARKET REPORT OVERVIEW

The global PEM Fuel Cell Catalysts Market size was USD 0.46 billion in 2024 and is expected to reach USD 1.6 billion by 2033, growing at a compound annual growth rate (CAGR) of about 14.9% during forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the PEM fuel cell catalysts market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Polymer electrolyte membrane (PEM) fuel cells, at times referred to as proton-exchange membrane fuel cells (PEMFC), are a form of fuel cell that is primarily being developed for transportation applications as well as stationary and portable fuel-cell uses. They can operate in lower temperature and pressure ranges (50 to 100 °C), and they have a unique proton-conducting polymer electrolyte membrane. PEMFCs work on the opposite premise from PEM electrolysis, which uses electricity to produce energy. They stand a strong chance of taking the place of the outdated alkaline fuel-cell technology, which was employed in the Space Shuttle.

COVID-19 IMPACT

"Imposed Restrictions in the Economy Resulted in Decline in the Market"

Because of the closure of manufacturing facilities, the lack of a skilled staff, and the loss of workers, the COVID-19 pandemic has had an influence on the demand for PEM fuel cell catalysts. The widespread shutdown is also delaying supplies and wasting operational time. These elements are predicted to have a detrimental impact on the PEM fuel cell catalysts growth.

LATEST TRENDS

"Research on Fuel Cell Technology and Multiple Applications to Grow Market Potentially"

While global emission standards are tightening ever-more, research into fuel cell technology is becoming increasingly important. Sustainable infrastructures must be created in order for proton exchange membrane fuel cells (PEMFCs), which are environmentally friendly, to become a viable technology. One of the main eye-catchers is the use of the expensive and rare precious metal Pt as the active ingredient in the electrocatalytic conversion of hydrogen and oxygen. There is a great deal of study being done on Pt replacement or even Pt reduction for future PEMFC technologies. This research update reviews the development of oxygen reduction reaction catalysts in acidic medium during the previous two years with a focus on their endurance.

PEM FUEL CELL CATALYSTS MARKET SEGMENTATION

By Type

Based on type the PEM fuel cell catalysts market is classified as platinum-based, non-platinum and others.

The part platinum-based is the leading of the type segment.

By Application

Based on application the PEM fuel cell catalysts market is classified as transportation, stationary power, portable power and others.

The part transportation is the leading type of the application segment.

DRIVING FACTORS

"The Relative Advantages in Transportation Sector to Boost the Market Growth"

Due to their possible negative effects on the environment, such as the regulation of greenhouse gas (GHG) emission, PEM fuel cells are predominantly used in the transportation sector. Distributed/stationary and mobile power generation are further applications. Due to its superior dynamic properties and high power density as compared to other types of fuel cells, PEM fuel cells are the main focus of the majority of significant motor businesses.PEMFCs are ideal for transportation applications due to their low weight. PEMFCs for buses, which run on compressed hydrogen as fuel, have an operating efficiency of up to 40%.

"The Prominent Energy Efficient, Reliable Features to Multiply the Production and Market Growth"

Numerous businesses are being forced to adopt PEMFC due to the urgent need to upgrade and diversify the energy infrastructure. In contrast to fossil fuels, they are energy-efficient, dependable, and clean. In addition, they don't produce harmful gases like sulphur dioxide, nitrogen oxide, or carbon dioxide. In the near future, it is also anticipated that the abundance of hydrogen would accelerate the market growth for proton exchange membrane fuel cells.

RESTRAINING FACTOR

"Several Challenges with Demand for Plug-in Hybrid Vehicles to Restrain the Market Growth"

Growing improvements to the energy infrastructure are propelling market expansion for PEM fuel cell catalysts. Growth could be hampered by the rising demand for battery and plug-in hybrid electric vehicles, though. The cost and stability of PEM fuel cells continue to be a barrier to their commercial viability. The use of platinum, a costly metal, in the catalyst layer of PEM cells is largely responsible for the high cost. Therefore, demand for plug-in hybrid electrical vehicles thus restraining the PEM fuel cell catalysts market growth.

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

PEM FUEL CELL CATALYSTS MARKET REGIONAL INSIGHTS

"Asia Pacific Region to Dominate the Market Rising Government Initiatives and High Demand"

In terms of revenue, Asia Pacific led the region in PEM fuel cell catalysts market, and it is predicted that it will continue to lead in the near future. This growth can be attributed to the increasing government initiatives to create a society with no carbon emissions. On the other hand, the area is projected to experience exponential growth as a result of the rising investment in R&D activities. Additionally, the substantial demand for fuel cell cars would increase the need for PEMFC in this area. All these factors combined are significantly contributing in the regions PEM fuel cell catalysts market growth.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The PEM fuel cell catalysts market share is highly competitive and has both international and local participants. The majority of businesses engaged in the proton exchange membrane fuel cell market are heavily investing in R&D and capacity expansion. Some of the others are concluding fresh contracts with neighbourhood businesses to jointly develop innovative goods or look for new business prospects in the proton exchange membrane fuel cell industry.

List of Top PEM Fuel Cell Catalysts Companies

• Johnson Matthey (U.K)
• Tanaka (Japan)
• Umicore (Belgium)
• Nisshinbo (Japan)
• VINATech (Republic of Korea)
• Clariant (Switzerland)
• BASF (India)
• Cataler (Japan)
• Heraeus (Germany)
• Wuhan Himalaya (China)
• Kunshan Sunlaite (China)
• Ningbo Zhongke (China)
• SuZhou Hydrogine Power Technology Co (China).

INDUSTRY DEVELOPMENTS

• April 2021: In order to create a joint venture to investigate additional potential in the hydrogen energy sector, Nanofilm Technologies and Temasek Holdings inked a contract. The newly created business, known as Sydrogen Energy, will use the former's special material surface solutions to crucial parts in electrolyzer systems and fuel cells.
• January 2021: Johnson Matthey intends to commercialise the technologies it developed to produce green hydrogen with zero carbon emissions. Additionally, the Swindon plant is increasing its ability to produce membranes coated with catalysts.

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study.The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points.The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.