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Fuel Cell Industry 2019 Global Market Size & Growth, Sales and Drivers Analysis Research Report 2023

Fuel Cell

Worldwide Latest Market Research Report on “Global Fuel Cell Market – Analysis of Growth, Trends and Forecasts (2019 – 2023) 2019-2023

The Global Fuel Cell market with CAGR of XX% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Fuel Cell by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Competitor Analysis: by product types, market share, applications, sales, and revenue.

  • Ballard Power Systems Inc.
  • Bloom Energy Corporation
  • Toshiba Fuel Cell Power Systems Corporation
  • FuelCell Energy Inc
  • Plug Power Inc
  • Nuvera Fuel Cells Inc
  • AFC Energy plc
  • SFC Energy AG
  • Mitsubishi Hitachi Power Systems
  • Ltd.
  • Panasonic Corporation
  • Intelligent Energy Limited
  • Doosan Fuel Cell America Inc.

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Overview of Fuel Cell Market:

The fuel cell market has been growing steadily over the past three years. In 2017, the fuel cell market was where the solar cell market was in 2002. Solar is one of the fastest growing sectors in the world, and both solar and fuel cells are clean energy solutions. In 2016, the number of fuel cells shipped worldwide was 62,000, an increase of 2,000 from 2015 level. More significantly, the total MW shipped grew significantly from 300 MW in 2015 to 500 MW in 2016. In 2017, it was estimated that the megawatt shipped rose to more than 650 MW. Recent growth has been driven by the proton exchange membrane fuel cell, accounting for almost three-fourths of the total megawatt shipped. Rising number of hydrogen infrastructures are driving the demand for fuel cell in vehicle.

Transportation Sector – Driving the Market

The largest increase – nearly triple in total MWs of fuel cell shipped worldwide, occurred in the transportation sector between 2014 and 2016. The growth in demand is due to the introduction and expansion of fuel cell light-duty vehicles from Korea and Japan to new regions around the world. Other transportation applications, such as buses and material handling, also contributed to the increase in total MW shipped.

In 2016, China emerged as the leading customer for fuel cell buses, with more than 30 either ordered or deployed throughout the year. The country is further planning to build anywhere between 5-10 hydrogen stations, and aims to deploy 3,000 fuel cell buses and vehicles by 2020. Similarly, Japan is planning to deploy 40,000 fuel cell vehicles on the road by 2020, and increase its refueling station from about 80 in 2016 to 160 by 2020, and 900 by 2030.

Asia-Pacific – Fastest Growing and Largest Market

Asia-Pacific is the fastest growing and the largest market for fuel cell. In 2014 and 2015, North America was the largest market, while in 2016, Asia-Pacific became the largest due to the addition of more than 200 MW of fuel cell compared to the 2015 level. In 2014, Asia-Pacific had around 40 MW of fuel cell, and in 2016 the region had more than 300 MW. The growth is attributed to increasing demand for fuel cell electric vehicles in Japan and South Korea. The North American market is growing steadily while Europe still has not gained the momentum.

Steady Increase in Demand for Stationery Fuel Cell in South Korea
Key US fuel cell manufacturers, Doosan Fuel Cell America Inc., FuelCell Energy Inc., and Bloom Energy, announced collective sales, installations, and agreement for around 100 MW of fuel cell systems in 2016. More than half of these fuel cell (75 MW) was shipped to South Korea to produce power for the electric grid. Several large stationery projects have been announced around the world in the past two years, including a 50 MW fuel cell project planned by the Korea Power Electric Corp. South Korea has number utility-scale fuel cell parks in operation, including the world’s largest, which generates 59 MW of power for the electric grid and supplies a district heating system. The country is struggling to modernize and diversify its power sector in the past few years. Stationary fuel cell is gaining momentum in South Korea and is expected to drive the demand for fuel cell in the coming future.

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Reasons to Purchase This Report:

  • Effect of evolving technologies and changes in energy mix, and government regulations in the global fuel cell market
  • Analysis of the various perspectives of the market with the help of Porter’s five forces analysis
  • Identification of product type and application dominating the market
  • Identification of regions witnessing fastest growth during the forecast period
  • Identification of the latest developments, market shares and strategies employed by the major market players
  • 3 months analyst support along with the Market Estimate sheet (in excel)

    The Global demand for Fuel Cell Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.

    Global Fuel Cell Market highlights the following key factors:

    1. A complete informative analysis of Fuel Cell industry, which includes a valuation of the parental market.
    2. Emerging trends by sections and regional markets.
    3. Major developments in market dynamics & market overview.
    4. Fuel Cell Market shares and methods of key players in the Fuel Cell market.
    5. Current and predictable size of Fuel Cell market from the outlook of both value and volume.
    6. Reporting and estimation of recent industry developments.
    7. References to companies for establishment their position in the Fuel Cell market.

    Fuel Cell Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Fuel Cell Market players in detail. Fuel Cell Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.

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    Key Features of the Fuel Cell Market Report:

    • Fuel Cell Market insights and finger analysis will help take knowledgeable decision in the changing competitive dynamics.
    • To build up a far-reaching, verifiable, every year refreshed and financially perceptive data dependent on execution, capacities, objectives, and systems of the world is driving organizations.
    • To help current providers reasonably evaluate their money related, advertising and innovative capacities opposite driving contenders.
    • To supplement associations internal competing data gathering endeavors by giving vital investigation, information understanding, and knowledge.
    • Five-year forecast measure would give a clear understanding of future growth.
    • Investigation of upcoming and past market information will help in organizing an outline of current business strategies.
    • Comprehensive information of market players will help understand consumer demands and market scope.
    • Development opportunities and forecast buyer requests will evoke the collection of revenue.
    • A comprehensive analysis of the changing competitive dynamics will keep you ahead of the competitors.
    • The fresh proficient elements such as industry production study, revise product-launching events, growth and risk factors will help in the forecast feasibility analysis.
    • To distinguish the slightest focused market specialties with huge development potential.

    The growth of this market worldwide is subjected to various factors; including consumer world-class Fuel Cell Market of many Fuel Cell Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.

    In conclusion, Fuel Cell Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Fuel Cell Market competitors.

    CONTACT US

    Mr. Ajay More

    Phone: +14242530807 / + 44 20 3239 8187

    Email: [email protected]

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