Fuel Cell market revenue is estimated to be $XX Billion in 2019 and shall grow with a CAGR of XX.X% during the forecast period of 2019 to 2026.
Fuel Cells work on the principle of conversion of chemical energy to electrical energy. They are constituted of a cathode, an anode and an electrolyte allowing the movement of ions. In this process, electrons move across the circuit, thereby generating electricity.
Analysis by Product
The fuel cell market growth is set to grow owing to the increasing demand for off-grid solutions. This is because they are most suited to rural areas. Government policies will boost the business outlook of fuel cells through suitable incentives. Some vital characteristics such as lightweight, high power density and efficiency will boost the product demand.
Portable products are yet another business line that will complement the growth of fuel cells. Notable contributors to an increasing market share are movable battery chargers, power for testing equipment, forklifts & consumer electronics. The use of the fuel reformer will be optimized owing to an innovative chemical breakthrough. In this case, the promising characteristics are high energy density, apt working temperature range & a reduced relative cost.
Analysis by Application
Space heating demand is on the rise across major markets. This will have a direct positive lift to the stationary applications of fuel cells. Some of the promising areas include Hospitals, Data Centres, Telecom base stations and schools. Moreover, the demand for large power plants is surging to meet the energy demands of the rural sector.
On the other hand, the portable applications are also showing a lot of growth promise across cameras, torches, Skid-mounted fuel cell generators, and portable soldier power. The scope of range in these products is very wide depending upon the customer need. Key positive aspects include longer run time, reduced weight and low operating cost.
Analysis by Region
The market consumption for the US industry is set for rapid growth owing to favorable policy initiatives with both the federal as well as state governments. A massive revenue source is being forecasted for the works related to the refurbishment of aging grid infrastructure. These are vital to the country’s operation and thus, will be given top priority. Additionally, public institutions have expressed a deep-rooted commitment for large scale training of Human resources to be employed in the fuel cell industry.
On the other side of the globe, the UK market is also showing a lot of revenue forecast on the government’s inclination to adhere to strict emission norms. China has also emerged as a large consumer of fuel cells with a sharp rise in R&D investments in the industry. Greenfield refueling stations are coming up in China aimed at fuelling trucks and Hydrogen-powered buses.
Analysis by Market
Noteworthy players associated in the fuel cell industry include Panasonic, Ballard Power Systems, Hydrogenics, Nedstack, Bloom Energy, Plug Power, and Fuji Electric. Partnerships between public institutions and private organizations is on the rise. This can be attributed to the future that is being envisaged by most of the big players in this arena. Resources for extensive research are being pooled owing to an exquisite revenue potential that has been forecasted. Other industries in this domain that are growing at a high CAGR include Tension Load Cells Market and Cell Culture Media Market.
COVERAGE HIGHLIGHTS
● Market Revenue Estimation and Forecast (2019 – 2026)
● Market Production Estimation and Forecast (2019 – 2026)
● Market Sales/Consumption Volume Estimation and Forecast (2019 – 2026)
● Breakdown of Revenue by Segments (2019 – 2026)
● Breakdown of Production by Segments (2019 – 2026)
● Breakdown of Sales Volume by Segments (2019 – 2026)
● Gross Margin and Profitability Analysis of Companies
● Business Trend and Expansion Analysis
● Import and Export Analysis
● Regional Analysis and Market Data Breakdown
MARKET SEGMENTATION
By Product Outlook ($Revenue and Unit Sales, 2019-2026)
• PEMFC
• DMFC
• SOFC
• Others
By Application Outlook ($Revenue and Unit Sales, 2019-2026)
• Stationary
• Portable
• Transportation
By Regional Outlook ($Revenue and Unit Sales, 2019-2026)
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Market Players
• Hydrogenics Corporation
• Ballard Power Systems, Inc
• Nedstack Fuel Cell Technology
• Bloom Energy
• Panasonic
• Plug Power
• SFC Energy AG
• Toshiba
• Doosan Fuel Cell America
• Aisin Seiki Co. Ltd.
• Arcola Energy
• Ceres Power Holding
• Nuvera Fuel Cells
• Horizon Fuel Cell Technologies
• AFC Energy PLC
• Fuel Cell Energy
• Fuji Electric
