Global Fuel Cells Strategic Business Report 2023: Net Zero Carbon Goals and Favorable Government Policy Changes Promote Adoption of Fuel Cell Technology
Global Market for Fuel Cells
Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Fuel Cells: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Fuel Cells estimated at US$9.7 Billion in the year 2022, is projected to reach a revised size of US$40.7 Billion by 2030, growing at a CAGR of 19.7% over the analysis period 2022-2030.
Proton Exchange Membrane, one of the segments analyzed in the report, is projected to record a 19.7% CAGR and reach US$26.8 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Phosphoric Acid segment is readjusted to a revised 20.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 27.5% CAGR
The Fuel Cells market in the U.S. is estimated at US$2.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7 Billion by the year 2030 trailing a CAGR of 27.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.3% and 19.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 18.5% CAGR.
Select Competitors (Total 151 Featured) -
AFC Energy Plc
Air Liquide S.A.
Ballard Power Systems, Inc.
Bloom Energy Corporation
Ceres Power Holdings plc
Doosan Fuel Cell America, Inc.
FuelCell Energy, Inc.
Horizon Fuel Cell Technologies Pte Ltd.
Hydrogenics Corporation
ITM Power Plc
Mitsubishi Heavy Industries Ltd.
Mitsubishi Hitachi Power Systems, Ltd.
Nuvera Fuel Cells, LLC
Plug Power Inc.
Proton OnSite
SFC Energy AG
Siemens Industry, Inc.
Teledyne Energy Systems, Inc.
UltraCell LLC
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Attributes:
Report Attribute | Details |
No. of Pages | 562 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $9.7 Billion |
Forecasted Market Value (USD) by 2030 | $40.7 Billion |
Compound Annual Growth Rate | 19.6% |
Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
Fuel Cell Shipments Exhibit a Deceleration Amid the Pandemic
Fuel Cells Gain Prominence to Meet Additional Energy Requirements
SOFCs: Ensuring Uninterrupted Power Supply amid COVID-19
Intriguing Applications of SOFCs in Post-COVID-19 Scenario
Post-COVID-19 Developments Make Fuel Cells a More Dynamic Industry
Fuel Cells: An Introduction
Classification of Fuel Cells
Major Applications of Fuel Cells
Fuel Cells: Clean, Efficient, Reliable and Eco-friendly Alternative to Conventional Petroleum-based Fuels
Fuel Cells Market: Prospects and Outlook
Major Market Drivers & Restraints
Government Subsidies to Promote Fuel Cell Technology
Increasing Adoption of EVs and Hybrid Vehicles
Strong Focus on Alternative Energy Sources
Potential for Use in Distributed Generation Applications
Increasing Popularity of Hydrogen Fuel
Stationary & PEM Fuel Cells and Fuel Cell Vehicles to Post Solid Growth
Polymer Electrolyte Membrane Fuel Cell Dominates Fuel Cells Market
Stationary and Transport Applications Lead the Fuel Cells Market
Clean Energy Focus Drives Use of Fuel Cells in Transportation Sector
Developed Economies at the Forefront of Innovation and Adoption of Fuel Cells-based Applications
Developing Economies Emerge as Promising Regions for Fuel Cell Adoption
Cost Reductions to Benefit Market Growth
Cost Structure of Fuel Cell: Breakdown (%) of Cost by Key Components
Competitive Landscape
A Fairly Competitive Market
Revenues of Select Publicly Traded Fuel Cell Companies for 2018 and 2019 (In $ Million)
Participants Focus on Product Innovation and Expansion to Gain Competitive Edge
Recent Market Activity
Startups Enter the Fray
World Brands
Fuel Cells - Global Key Competitors Percentage Market Share in 2021 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2021 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Ambitious Vision of an All-Hydrogen Economy Drives Interest in Fuel Cells
Net Zero Carbon Goals and Favorable Government Policy Changes Promote Adoption of Fuel Cell Technology
Carbon Neutrality Goals of Various Countries
Auto Industry Banks on Fuel Cells as a Sustainable Fuel Technology of the Future
PEM Fuel Cells in Automobiles
Strong Investments to Promote Growth
Automakers Eye on Hydrogen Fuel Cells to Boost Gains in Post-Pandemic Era
Global Sales of Hydrogen Fuel Cell Vehicles by Model for 2019
Hydrogen Fuel cell Powered Vehicles Unveiled During the Period 2014-2018
Hydrogen FCEVs Combat GHG Emissions
FCEV Targets Set by the Hydrogen Council for the Years 2030 and 2050
Global Greenhouse Gas Emissions: Breakdown (in %) by Sector for 2019
Hydrogen Refueling Infrastructure: Critical for the Success of FCVs
Number of Public and Private Hydrogen Refueling Stations by Region (As of 2019)
Top Countries in Terms of Number of Hydrogen Refueling Stations (As of 2019-End)
High Costs: The Achilles Heel of Hydrogen Fuel cells
Deployments of Fuel Cell Electric Bus (FCEB)
Focus on Enhancing Durability and Lowering Cost of Fuel Cells Increases
Hydrogen Fuel Cells for Motorbikes: An Opportunity to Tap
Fuel Cells Find Niche Applications in 2-Stroke Engine Motorcycles
Fuel Cell-Powered Trains and Trams: Tremendous Potential for Fuel Cell Industry
Material Handling: A Successful Application of Fuel Cells
Global Material Handling Equipment Revenues Estimates and Forecasts in US$ Billion: 2016-2024
Global e-Commerce Sales as Percentage of Total Retail Sales (2015-2021E)
Marine Sector: A Nascent yet Promising Application of Fuel Cells
Need for Alternative Propulsion Solutions Drives Demand for Fuel Cells in Marine Vessels Market
Expanding Applications in the Military Sector Augur Well for the Market
A Glance at Use of Fuel Cell Systems in Select Military Applications
Strong Demand for Portable Electronic Devices to Spur Opportunities for Portable Fuel Cells
Global Consumer Electronics Market (In US$ Billion) for the Years 2018- 2024
Environmental Benefits Drive Adoption of Fuel Cells in the Power Sector
Rising Investments in Distributed Renewable Energy Generation Enhances Prospects for Fuel Cells
Renewable Energy Consumption by Region (in Million tonnes oil equivalent): 2008-2018
Global Energy Mix: 1990 Vs 2020 Vs 2030
Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
Global Wind Power Market: Cumulated Installed Capacity (in GW) for the Years 2012 through 2018
Demand Response: An Expanding Application for Fuel Cells
Aircraft Manufacturers Take a Closer Look at Fuel-Efficient and Eco-Friendly Fuel Cells
Fuel Cells for Data Center Market to Witness Notable Expansion
Global Data centers Market Growth Outlook (In %) For Years 2019 Through 2025
Stationary Fuel Cells Market: An Overview
Telecom Industry Moving towards Stationary Fuel Cells for Backup Power
Stationary Fuel Cells Gather Steam in Backup and UPS Stationary Applications
Residential Sector Drives Demand for Stationary Fuel Cells
Stationary and Distributed Energy Applications Garner Attention
MFCs Technology: Promising Source of Alternative Power
Technological Benefits Continue to Propel Micro Fuel Cells Market
Direct Methanol Fuel Cell Preferred Choice for Portable Devices
Broader Adoption in Key Applications Fuels PEM Fuel Cells Market
Alkaline Fuel Cell Market Heading for Massive Gains
SOFCs: A Technology of Interest to the Developed Countries
Key Applications of SOFCs
SOFCs Gather Momentum in Stationary Cogeneration/CHP Deployments
SOFCs: Ideal for Distributed Power Generation
Technology Innovations and Research Efforts in Fuel Cell Market - A Review of Select Developments
Researchers Develop Proton-Driven Fuel Cell Technology for Powering Space Shuttles
Boeing's Insitu Improves Hydrogen Fuel Cell Propulsion System for UAVs
Ballard Power Systems Joins Hand with W. L. Gore for Advancing Fuel Cell Technology
A WSU Research Team Uses Molybdenum Doped Nickle Catalyst for Making SOFCs more Efficient
Innovative Fuel Cell Technology to Improve Carbon Fuel Utilization in DCFCs
Self-Healing Membrane to Potentially Extend Hydrogen Fuel Cells' Life
New Nanomaterial to Allow Cost-Efficient Production of Hydrogen for Fuel Cell Cars
Researchers at NETL Develop Innovative Method to Improve SOFC Performance
Advances in Nanotechnology Enables More Efficient Fuel Cell Applications
Raw Material : A Review
Important Materials Used in Fuel Cells and Batteries
Challenges in Fuel Cell Commercialization
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/vwck6t
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