Polymer Electrolyte Membrane (PEM) fuel cells, known as Proton Exchange Membrane fuel cells, have gained prominence in the energy sector due to their efficiency and environmental benefits. These fuel cells function by converting chemical energy from hydrogen into electrical energy, producing only water and heat as by-products. The market for PEM fuel cells is witnessing substantial growth driven by the global transition towards sustainable energy solutions, with applications in transportation, portable power systems, and stationary power generation. The PEM fuel cell market, valued at approximately USD 3.33 billion in 2023, is projected to grow at a CAGR of over 22.05% from 2024 to 2032. Key drivers include the rising demand for clean energy, government support through subsidies and research funding, and technological advancements enhancing the performance and affordability of PEM fuel cells. The transportation sector, particularly electric and hydrogen vehicles, stands out as a significant application area, with leading automakers investing in fuel cell technology. Despite the market growth, challenges persist, such as high production costs due to expensive materials like platinum catalysts, limited hydrogen infrastructure for refueling stations, and durability concerns under varying environmental conditions. Efforts are underway to address these challenges and further improve the efficiency and durability of PEM fuel cells. Overall, the rise of PEM fuel cells signifies a shift towards sustainable and efficient energy solutions, with a focus on reducing carbon emissions and promoting environmental stewardship. As governments and industries increasingly embrace clean energy technologies, PEM fuel cells are poised to play a crucial role in shaping the future of the global energy landscape.