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Dublin, June 03, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/3g5vwh/global_pemfc) has announced the addition of the "Global PEMFC (Proton Exchange Membrane Fuel Cells) Market 2015-2019" report to their offering.
The global PEMFC market to grow at a CAGR of 26.67% in terms of unit shipment and at 19.74% in terms of MW shipment over the period 2014-2019
PEMFC are devices that generate electricity through an electrochemical process involving oxidation of electrolytes placed between the anode and the cathode. Fuel cells are generally categorized based on the type of electrolyte used. PEMFC use an acidic water-based polymer membrane with platinum-based electrodes. It operates at low temperatures and caters effectively to dynamic power requirements. The chemical source of PEMFC, which is hydrogen, needs to be extremely pure because of its operating temperature and use of precious metal-based electrodes. PEMFC is a fuel-cell technology that is used extensively in light duty and material handling vehicles.
Increased investment in R&D is a key trend influencing the market. Many universities and governmental organizations are engaged in research and demonstration projects of new technologies in the PEMFC industry.
According to the report, abundant energy sources and emerging applications act as a major driver in the global PEMFC market. Hydrogen is used in stationary PEMFCs as a fuel as it is the lightest, most abundant element in the universe.
Further, the report states that functional issues related to PEMFC applications are a challenge hindering the growth of the global PEMFC market. Current compressor technologies are not suitable for PEMFC applications, which makes air management difficult.
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