Fuel Cell Market Size, Share and Forecasts 2026
The Global Fuel Cell market was valued at xx million in 2018 and is forecasted to reach xx million by 2026 growing at a CAGR of xx% during the forecast period (2019-2026).
(EMAILWIRE.COM, September 11, 2019 ) Market Overview
Fuel cells are the devices that convert the energy of a chemical reaction, typically between hydrogen and oxygen, directly into low-voltage DC electricity and into heat.
The Fuel cell market is on upsurge because of the various advantages of fuel cells compared to conventional power sources. Fuel cells have a broader range of application than any other currently available power source from toys to large power plants, from vehicles to mobile chargers, and from household power to battlefield power.
Market Dynamics
Due to the increased amounts of carbon dioxide and other greenhouse gases released from burning fossil fuels for energy, the demand for a cleaner and the more efficient power source is increasing.
This is a significant driver for the Fuel Cell market.
Essential fuel cells running on pure hydrogen are pollution free, giving off only electricity, water, and heat. The potential for fuel cells to provide zero or near-zero emissions has been a significant force in the development of technology over the past 30 years and is drawing increasing attention to the technology today.
The most significant increasenearly triplein MWs occurred in the transportation sector, and that growth can be attributed to the introduction and expansion of fuel cell light-duty vehicles from Japan and Korea to new regions around the world.
There was also the inclusion of Hondas fuel cell vehicle in the marketplace. Other transportation applications such as buses and material handling also contributed to the increase in MW shipped.
The biggest hurdle for fuel cells market today is cost. Fuel cells cannot yet compete economically with more traditional energy technologies, though rapid technological advances are being made. So high cost of fuel cells can be a possible restraint for this market.
Market Segmentation
The report segments the Fuel Cell market by technology type, by Application and lastly By Geographical Region.
Technology type the market has been segmented into- Polymer Electrolyte Membrane Fuel Cell (PEMFC), Solid Oxide Fuel cell (SOFC), Molten Carbonate Fuel cell (MCFC), Alkaline Fuel Cell (AFC), and Others (Phosphoric Acid fuel cell (PAFC), Direct Methanol fuel cell (DMFC)).
By Application type the market has been segmented into- Portable Power, Stationary Power, and Transportation. In 2016, approximately 62,000 fuel cell systems were shipped worldwide from the US, up slightly from 60,000 in 2015.
By Technology Type
Polymer Electrolyte Membrane Fuel Cell (PEMFC)
Solid Oxide Fuel cell (SOFC)
Molten Carbonate Fuel cell (MCFC)
Alkaline Fuel Cell (AFC)
Others
By Application
Stationary
Portable
Transportation
By Region
Asia Pacific
Europe
North America
South America
Rest of the World
Geographical Analysis
Geography type the market has been segmented into- North America, South America, Europe, Asia-Pacific and Rest of the world. There are many fuel cell developmental projects going on around the world.
There are a large number of hydrogen fuel cell prototype vehicles which include two wheelers, cars, and buses, and are already being tested on the roads in several countries especially developed the world.
National governments such as the USA, Canada, and Japan are at the forefront of financing such projects.
In other developing countries like Brazil, China, and India, research on hydrogen fuel cells for both stationary and transport application is already underway.
There are other efforts in some small countries like Taiwan where the government and the private sector are investing in fuel cell research. This has yielded new, potentially marketable technologies such as electric bicycles and scooters.
Company Profiles
The report profiles the following companies, which includes
Ballard Power Systems Fuel Cell Energy,
Hydrogenics Corp.,
Plug Power,
Ceres Power,
Others
View full sample report: https://www.datamintelligence.com/research-report/fuel-cell-market
Download free sample: https://www.datamintelligence.com/download-sample/fuel-cell-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Fuel cells are the devices that convert the energy of a chemical reaction, typically between hydrogen and oxygen, directly into low-voltage DC electricity and into heat.
The Fuel cell market is on upsurge because of the various advantages of fuel cells compared to conventional power sources. Fuel cells have a broader range of application than any other currently available power source from toys to large power plants, from vehicles to mobile chargers, and from household power to battlefield power.
Market Dynamics
Due to the increased amounts of carbon dioxide and other greenhouse gases released from burning fossil fuels for energy, the demand for a cleaner and the more efficient power source is increasing.
This is a significant driver for the Fuel Cell market.
Essential fuel cells running on pure hydrogen are pollution free, giving off only electricity, water, and heat. The potential for fuel cells to provide zero or near-zero emissions has been a significant force in the development of technology over the past 30 years and is drawing increasing attention to the technology today.
The most significant increasenearly triplein MWs occurred in the transportation sector, and that growth can be attributed to the introduction and expansion of fuel cell light-duty vehicles from Japan and Korea to new regions around the world.
There was also the inclusion of Hondas fuel cell vehicle in the marketplace. Other transportation applications such as buses and material handling also contributed to the increase in MW shipped.
The biggest hurdle for fuel cells market today is cost. Fuel cells cannot yet compete economically with more traditional energy technologies, though rapid technological advances are being made. So high cost of fuel cells can be a possible restraint for this market.
Market Segmentation
The report segments the Fuel Cell market by technology type, by Application and lastly By Geographical Region.
Technology type the market has been segmented into- Polymer Electrolyte Membrane Fuel Cell (PEMFC), Solid Oxide Fuel cell (SOFC), Molten Carbonate Fuel cell (MCFC), Alkaline Fuel Cell (AFC), and Others (Phosphoric Acid fuel cell (PAFC), Direct Methanol fuel cell (DMFC)).
By Application type the market has been segmented into- Portable Power, Stationary Power, and Transportation. In 2016, approximately 62,000 fuel cell systems were shipped worldwide from the US, up slightly from 60,000 in 2015.
By Technology Type
Polymer Electrolyte Membrane Fuel Cell (PEMFC)
Solid Oxide Fuel cell (SOFC)
Molten Carbonate Fuel cell (MCFC)
Alkaline Fuel Cell (AFC)
Others
By Application
Stationary
Portable
Transportation
By Region
Asia Pacific
Europe
North America
South America
Rest of the World
Geographical Analysis
Geography type the market has been segmented into- North America, South America, Europe, Asia-Pacific and Rest of the world. There are many fuel cell developmental projects going on around the world.
There are a large number of hydrogen fuel cell prototype vehicles which include two wheelers, cars, and buses, and are already being tested on the roads in several countries especially developed the world.
National governments such as the USA, Canada, and Japan are at the forefront of financing such projects.
In other developing countries like Brazil, China, and India, research on hydrogen fuel cells for both stationary and transport application is already underway.
There are other efforts in some small countries like Taiwan where the government and the private sector are investing in fuel cell research. This has yielded new, potentially marketable technologies such as electric bicycles and scooters.
Company Profiles
The report profiles the following companies, which includes
Ballard Power Systems Fuel Cell Energy,
Hydrogenics Corp.,
Plug Power,
Ceres Power,
Others
View full sample report: https://www.datamintelligence.com/research-report/fuel-cell-market
Download free sample: https://www.datamintelligence.com/download-sample/fuel-cell-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results