PUBLISHER: DataM Intelligence | PRODUCT CODE: 1255841
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1255841
Global Fuel Cell Market - 2023-2030
Market Overview
The global fuel cell market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of XX% during the forecast period (2023-2030).
A fuel cell is a machine that generates electricity through a chemical reaction. The two electrodes found in every fuel cell are the anode and cathode electrodes. The electrical reactions take place at the electrodes. Every fuel cell also has an electrolyte, which moves electrically charged particles from one electrode to the other and a catalyst, which speeds up the reactions at the electrodes. The purpose of a fuel cell is to produce an electrical current that can be used to power an electric motor, illuminate a lightbulb or carry out other tasks away from the cell.
Market Dynamics
The benefits over conventional combustion-based technologies
Fuel cells offer a number of benefits over conventional combustion-based technologies, which are now used in many power plants and automobiles. Fuel cells operate more effectively than combustion engines and are able to transform the chemical energy in fuel straight into electrical energy at efficiencies of more than 60%.
Unlike combustion engines, fuel cells either produce no pollutants or very minimal emissions. Hydrogen fuel cells can successfully address significant climate change challenges because they emit only water and no carbon dioxide. Also, the point of operation is free of air contaminants that cause pollution and health problems. Fuel cells function silently because they have few moving parts.
The high costs of fuel cells
Fuel cells have been around for a long time and were first utilised in the 1960s to power space missions. In the 1990s, fuel cells for use in commercial and industrial settings were created. When compared to other technologies like batteries, their limited user acceptance has prevented them from taking off in the market.
The cost of a fuel cell system and its fuel is still a major factor in determining whether or not the technology is adopted, as they are both more expensive than competing technologies like gas generators and lithium-ion batteries. For instance, utilizing a fuel cell to create electricity is more expensive than using traditional methods.
COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global fuel cell market is segmented based on technology, type, power, application, end-user and region.
The high efficiency and flexibility of stationary application
The stationary power application sector is anticipated to grow to be the largest during the projection period. Two factors that are projected to contribute to the stationary application segment's success are high efficiency and fuel flexibility. Several European nations, including Germany, France and UK, are making significant investments in fuel cell research. Over the projection period, it is anticipated to accelerate the growth of the stationary application sector.
Geographical Analysis
The growing demand for clean energy in Asia-Pacific
Asia-Pacific is predicted to have the highest demand for fuel cells during the projection period. Due to the favorable government policies in nations like China, Japan and South Korea that are promoting the use of renewable energy, Asia-Pacific is one of the most potential regional markets for fuel cells in the future years.
The PEMFC is the most often used fuel cell in the area among the available fuel cell technologies. Since the government increasingly concentrates on ways to use sustainable energy technologies in order to transition to a low-carbon economy, China has significant potential in the fuel cell sector. The development of the fuel cell technology has also been aided by favorable policies for fuel cell systems for transportation in China and South Korea.
Competitive Landscape
The major global players in the market are: Ballard Power Systems, FuelCell Energy, Hydrogenics Corp., Plug Power, Ceres Power, SFC Energy, Bloom Energy, Nuvera Fuel Cells, Inc., SFC Energy and Altergy Systems.
Why Purchase the Report?
- To visualize the global fuel cell market segmentation based on technology, type, power, application, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of fuel cell market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global fuel cell market report would provide approximately 77 tables, 86 figures and 215 pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
- 3.1. Market Snippet By Technology
- 3.2. Market Snippet By Type
- 3.3. Market Snippet By Power
- 3.4. Market Snippet By Application
- 3.5. Market Snippet By End-User
- 3.6. Market Snippet By Region
4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The growing demand for clean energy
- 4.1.1.2. The rising R&D activities
- 4.1.2. Restraints
- 4.1.2.1. High costs of fuel cell
- 4.1.2.2. XX
- 4.1.3. Opportunity
- 4.1.3.1. XX
- 4.1.4. Impact Analysis
- 4.1.1. Drivers
5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. By Technology
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 7.1.2. Market Attractiveness Index, By Technology
- 7.2. Polymer Electrolyte Membrane Fuel Cell (PEMFC)*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Solid Oxide Fuel cell (SOFC)
- 7.4. Molten Carbonate Fuel Cell (MCFC)
- 7.5. Alkaline Fuel Cell (AFC)
- 7.6. Direct Methanol Fuel Cell
- 7.7. Proton-Exchange Membrane Fuel Cell (PEM)
- 7.8. Others
8. By Type
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 8.1.2. Market Attractiveness Index, By Type
- 8.2. Planar*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Tubular
9. By Power
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
- 9.1.2. Market Attractiveness Index, By Power
- 9.2. Less than 5W Stacks*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. 5W to 100W Stacks
- 9.4. 100W to 1KW Stacks
- 9.5. 1KW to 10KW Stacks
- 9.6. More than 10KW
10. By Application
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.1.2. Market Attractiveness Index, By Application
- 10.2. Portable Power*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Stationary Power
- 10.4. Transportation
11. By End-User
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.1.2. Market Attractiveness Index, By End-User
- 11.2. Power Generation*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Residential and Commercial
- 11.4. Military
- 11.5. Retail
- 11.6. Data Centers
- 11.7. Combined Heat and Power
- 11.8. Others
12. By Region
- 12.1. Introduction
- 12.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.3. Market Attractiveness Index, By Region
- 12.4. North America
- 12.4.1. Introduction
- 12.4.2. Key Region-Specific Dynamics
- 12.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 12.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
- 12.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1. U.S.
- 12.4.8.2. Canada
- 12.4.8.3. Mexico
- 12.5. Europe
- 12.5.1. Introduction
- 12.5.2. Key Region-Specific Dynamics
- 12.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 12.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
- 12.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1. Germany
- 12.5.8.2. UK
- 12.5.8.3. France
- 12.5.8.4. Rest of Europe
- 12.6. South America
- 12.6.1. Introduction
- 12.6.2. Key Region-Specific Dynamics
- 12.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 12.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
- 12.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.6.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.6.8.1. Brazil
- 12.6.8.2. Argentina
- 12.6.8.3. Rest of South America
- 12.7. Asia-Pacific
- 12.7.1. Introduction
- 12.7.2. Key Region-Specific Dynamics
- 12.7.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 12.7.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.7.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
- 12.7.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.7.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.7.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.7.8.1. China
- 12.7.8.2. India
- 12.7.8.3. Japan
- 12.7.8.4. Australia
- 12.7.8.5. Rest of Asia-Pacific
- 12.8. Middle East and Africa
- 12.8.1. Introduction
- 12.8.2. Key Region-Specific Dynamics
- 12.8.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 12.8.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.8.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
- 12.8.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.8.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
13. Competitive Landscape
- 13.1. Competitive Scenario
- 13.2. Market Positioning/Share Analysis
- 13.3. Mergers and Acquisitions Analysis
14. Company Profiles
- 14.1. Ballard Power Systems
- 14.1.1. Company Overview
- 14.1.2. Product Portfolio and Description
- 14.1.3. Key Highlights
- 14.1.4. Financial Overview
- 14.2. FuelCell Energy
- 14.3. Hydrogenics Corp.
- 14.4. Plug Power
- 14.5. Ceres Power
- 14.6. SFC Energy
- 14.7. Bloom Energy
- 14.8. Nuvera Fuel Cells, Inc.
- 14.9. Altergy Systems
- 14.10. Horizon Fuel Cell Technologies Pte. Ltd
LIST NOT EXHAUSTIVE
15. Appendix
- 15.1. About Us and Services
- 15.2. Contact Us
