The global Fuel Cells Market is expected to reach USD 16.58 Billion by 2027, according to a new report by Emergen Research.
The Fuel Cells Market report covers the market dynamics analysis, company profiles, production and manufacturing capacity, Effect specifications, result value, and key contender. The report also offers an insight into the growth prospects during the forecast period to help Lead companies and new entrants capitalize on lucrative opportunities and gain a robust footing in the market.
Fuel Cells Market Size – USD 2.75 billion in 2019, Market Growth – CAGR of 25.2%, Market Trends –Growing environmental awareness
The growth of this market can be attributed due to the growing environmental awareness among consumers and increasing government initiatives regarding the adoption of fuel cells to reduce the emission levels in the environment. Increasing research and development for the technological advancement of the products is augmenting the demand for the industry.
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Scrutinize Ground Plan
Asia Pacific revenue registered fastest revenue growth rate in 2020, driven by rapid urbanization and rising purchasing power among consumers in countries in the region, and increasing shift in preference for more eco-friendly energy-driven vehicles.
Apace with offering an in-depth anatomization of the recent events that took place in the Fuel Cells industry, such as technological upgradation and new product launches, the report lays stress on the consequences of these events on the market. The market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2020-2027.
Regional analysis covers the following key geographies of the world:
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Key Market Dynamics
The global Fuel Cells market research report details on the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors. Each of these factors has been elaborately discussed in the initial segment of the study.
This Report also covers the emerging player’s data, including: competitive situation, sales, revenue and global market share of top manufacturers such as:
The research Fuel Cells report also offers a detailed analysis of the market status, market definition and overview, market share, current and future trends, market drivers and constraints, opportunities and limitations, risks, sales network and distribution channels, details on entry barriers, and market growth prospects. It provides an extensive analysis of the key players operating in the global Fuel Cells market.
Key participants include Ballard Power Systems, Hydrogenics Corporation, FuelCell Energy, Inc., Bloom Energy, Plug Power, Inc., SFC Energy AG, Ceres Power Holdings PLC, Doosan Fuel Cell America, Intelligent Energy, and Toshiba Energy Systems & Solutions Corporation, among others.
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Pointer culmination in the Report
- The Proton Exchange Membrane Fuel Cell (PEMFC) segment dominated the market with a share of 53.5% in 2019 due to its higher efficiencies, lower emission rate, and can operate at a lower temperature.
- The transportation segment is expected to register the highest CAGR of 26.0% over the forecast period as the government of the developing countries is replacing the gasoline-based bus with fuel cells based buses in order to reduce the CO2 emission.
- Asia-Pacific has the highest adoption rate in the market due to the favorable policies and initiatives of the government in countries such as Japan, China, and South Korea.
Emergen Research has published a research report on global Fuel Cells market covering current market dynamics with market developments from 2020 to 2027. The report offers an in-depth analysis of historical and emerging trends in the market along with emerging trends, revenue growth, market size, drivers, restraints, challenges, limitations and opportunities The main aim of the report is to help the user, reader, investor understand the exact market scenario.
The Global Fuel Cells Market segments and Market Data Break Down are illuminated below:
The lithium-ion segment revenue is expected to expand at rapid CAGR of 39.5% during the forecast period. The high energy density, good high-temperature performance, excellent specific energy, and low self-discharge rate of lithium-ion batteries are properties driving revenue growth of the lithium-ion batteries segment. The battery electric vehicle segment accounted for largest revenue share among the electric vehicle type segments in the Fuel Cells market in 2020.
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Emergen Research has segmented the global Fuel Cells Market on the basis of Product, Application, End-User, and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Phosphoric Acid Fuel Cell (PAFC)
- Molten Carbonate Fuel Cell (MCFC
- Proton Exchange Membrane Fuel Cell (PEMFC)
- Solid Oxide Fuel Cell (SOFC)
- Application Outlook (Revenue, USD Billion; 2017-2027)
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Fuel Cell Vehicles
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Fuel Cells Market Segmentation & Impact Analysis
4.1. Fuel Cells Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Growing Environmental Awareness
22.214.171.124. Increasing Investments in R&D for the development of Fuel Cell Technology
126.96.36.199. Increasing Government schemes and initiatives
4.2.3. Market restraints analysis
188.8.131.52. Growing Budget constraints
184.108.40.206. Lack of Hydrogen Infrastructure
220.127.116.11. High cost of fuel cell systems
18.104.22.168. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Fuel Cells Market By Product Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
5.1. Product Dynamics & Market Share, 2019 & 2027
5.1.1. Phosphoric Acid Fuel Cell (PAFC)
5.1.2. Molten Carbonate Fuel Cell (MCFC)
5.1.3. Proton Exchange Membrane Fuel Cell (PEMFC)
5.1.4. Solid Oxide Fuel Cell (SOFC)
Chapter 6. Fuel Cells Market By Application Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
6.1. Application Dynamics & Market Share, 2019 & 2027
Why to choose Emergen Research??
- Regional Demand Forecasts and Forecasts
- Product price volatility
- Technology update analysis
- Location index analysis
- Raw material procurement strategy
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