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Market Research Report
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1028217

Fuel Cell Market: Current Analysis and Forecast (2021-2027)

Published: | UnivDatos Market Insights Pvt Ltd | 178 Pages | Delivery time: 1-2 business days

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Fuel Cell Market: Current Analysis and Forecast (2021-2027)
Published: August 1, 2021
UnivDatos Market Insights Pvt Ltd
Content info: 178 Pages
Delivery time: 1-2 business days
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  • Description
  • Table of Contents
Description

A fuel cell is a type of device consisting of a cathode and an anode submerged in an electrolyte medium to effectively conduct and generate electricity. These units operate like a battery providing the necessary power to the system but use hydrogen-based fuel rather than charging at various time intervals. Moreover, fuel cell technologies enable the highly efficient conversion of hydrogen into heat and power. Amongst other applications, fuel cells in the transportation sector can extend the portfolio of electric vehicles. Here, fuel cell vehicles present a decisive advantage in terms of refueling times over battery-electric options, as hydrogen can be refueled in comparable time periods to conventional liquid fuels. Also, Fuel cell is basically small and modular in nature, which makes it perfect for use as power source in various applications ranging from electric vehicles to grid-connected utility power units. The market growth is attributed to demand for clean energy generation in developed regions, increased use of fuel cell-based vehicles, booming power sector, and augmented power generation capacities globally. However, some of the restraints in the market include High manufacturing costs of fuel cell system, High capital and operational costs for setting up facilities & limited availability of necessary highly technological hydrogen infrastructure in several nations are some factors impeding the growth of this market all over the world.

Based on technology type, the market is segmented into Proton Exchange Membrane Fuel Cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Alkaline Fuel Cell (AFC) and Microbial Fuel Cell (MFC). The Proton Exchange Membrane Fuel Cell (PEMFC) segment grabbed XX% market share of the Global Fuel Cell Market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to its high efficiency, low operational cost, quick maintenance, and enhanced reliability and operability.

Based on application, the market is segmented into Transport, Portable & Stationary. In 2020, the transport segment dominated the Fuel Cell Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to widespread usage of fuel cell technology in heavy-duty operations such as public transport in regions such as Asia Pacific.

Based on end user, the market is classified into Fuel cell vehicles, Utilities and Defense. The fuel cell vehicle segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027.

For a better understanding of the market adoption of Fuel Cell, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, Norway and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of the favorable government policies in countries, such as China, Japan, and South Korea, which are driving clean energy usage.

Some of the major players operating in the market include Ballard Power Systems, Cummins Inc., Horizon Fuel Cell Technologies, SFC Energy AG, Mitsubishi Power, Ltd. Bloom Energy etc. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.

Table of Contents
Product Code: UMEP21344

TABLE OF CONTENTS

1 MARKET INTRODUCTION

  • 1.1. Market Definitions
  • 1.2. Objective of the Study
  • 1.3. Limitation
  • 1.4. Stake Holders
  • 1.5. Currency Used in Report
  • 1.6. Scope of the Global Fuel Cell Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

  • 2.1. Research Methodology for the Global Fuel Cell Market
    • 2.1.1. Main Objective of the Global Fuel Cell Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL FUEL CELL MARKET COVID-19

6 GLOBAL FUEL CELL MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY TECHNOLOGY TYPE

  • 7.1. Proton Exchange Membrane Fuel Cell (PEMFC)
  • 7.2. Phosphoric Acid Fuel Cell (PAFC)
  • 7.3. Alkaline Fuel Cell (AFC)
  • 7.4. Microbial Fuel Cell (MFC)

8 MARKET INSIGHTS BY APPLICATION

  • 8.1. Transport
  • 8.2. Portable
  • 8.3. Stationary

9 MARKET INSIGHTS BY END USER

  • 9.1. Fuel cell vehicles
  • 9.2. Utilities
  • 9.3. Defense

10 MARKET INSIGHTS BY REGION

  • 10.1. North America Fuel Cell Market
    • 10.1.1. United States
    • 10.1.2. Canada
    • 10.1.3. Rest of North America
  • 10.2. Europe Fuel Cell Market
    • 10.2.1. Germany
    • 10.2.2. France
    • 10.2.3. United Kingdom
    • 10.2.4. Italy
    • 10.2.5. Spain
    • 10.2.6. Norway
    • 10.2.7. Rest of Europe
  • 10.3. Asia Pacific Fuel Cell Market
    • 10.3.1. China
    • 10.3.2. Japan
    • 10.3.3. India
    • 10.3.4. Australia
    • 10.3.5. South Korea
    • 10.3.6. Rest of Asia Pacific
  • 10.4. Rest of World Fuel Cell Market

11 FUEL CELL MARKET DYNAMICS

  • 11.1. Market Drivers
  • 11.2. Market Challenges
  • 11.3. Impact Analysis

12 FUEL CELL MARKET OPPORTUNITIES

13 FUEL CELL MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

  • 15.1. Demand Side Analysis
  • 15.2. Supply Side Analysis
    • 15.2.1. Top Product Launches
    • 15.2.2. Top Business Partnerships
    • 15.2.3. Top Business Expansions, Investments and Divestitures
    • 15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

  • 17.1. Porter's Five Forces Analysis
    • 17.1.1. Bargaining power of Supplier
    • 17.1.2. Bargaining power of Buyer
    • 17.1.3. Industry Rivalry
    • 17.1.4. Availability of Substitute
    • 17.1.5. Threat of new Entrants
  • 17.2. Competitive Landscape
    • 17.2.1. Company Shares, By Revenue

18 COMPANY PROFILED

  • 18.1. Ballard Power Systems
  • 18.2. Cummins Inc.
  • 18.3. SFC Energy AG
  • 18.4. Horizon Fuel Cell Technologies
  • 18.5. Mitsubishi Power, Ltd.
  • 18.6. Toshiba Energy Systems & Solutions Corporation
  • 18.7. Proton Motor Power Systems
  • 18.8. Bloom Energy
  • 18.9. Plug Power Inc.
  • 18.10. ITM Power Plc

19 DISCLAIMER