Global Fuel cell technology Market Size study, by End user (Fuel cell vehicles, Utilities and defense), Application (Portable, Stationery and Transport), Type (Proton exchange membrane fuel cell, Phosphoric acid fuel cell, Alkaline fuel cell and others)

Global Fuel cell technology Market Size study, by End user (Fuel cell vehicles, Utilities and defense), Application (Portable, Stationery and Transport), Type (Proton exchange membrane fuel cell, Phosphoric acid fuel cell, Alkaline fuel cell and others) and Regional Analysis, 2022-2029

Global Fuel Cell Technology Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Fuel cells are referred to a class of devices that helps in converting the chemical energy of the fuel directly into electricity through an electromagnetic reaction. It compile a battery in several aspects and provides electrical energy for a longer period. The rise in investments in R&D activities of fuel cell technology and the increase in focus on clean energy generation for transportation and power generation are the key driving factors for the growth of the market over the forecast years.

The rising government support and subsidies for promoting the adoption of fuel cell are playing a significant role in the market growth across the globe. For instance, the South Korean government announced that they are focusing on replacing approximately 26,000 CNG buses with fuel cell buses by the year 2030. Also, The Zhangjiakou City administration in China placed an order for 74 fuel cell electric buses (FCEBs) for the 2022 Winter Olympics. Moreover, the IEA's Global EV Outlook 2021 reported that it was estimated that in China is accounted for 94% of world’s fuel-cell buses and 99% of fuel cell trucks. Therefore, the rising adoption of fuel cell automobiles and increasing government support are bolstering the demand for fuel cell technologies in the global market. Additionally, the efficient property such as fuel flexibility and the rise in investment in battery & renewable technology integration, as well as the advent of new technologies are lucrative opportunities for the growth of the market over the upcoming years. However, the presence of the expensive catalyst and lack of hydrogen infrastructure are the factors hampering the growth of the market during the estimated years.

The key regions considered for the Global Fuel Cell Technology Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific accounts for the largest share in global fuel cell technology due to the high demand for advances in fuel cell technology coupled with the growing use of fuel cell-powered vehicles in the region. Similarly, Asia Pacific is the fastest-growing region in the global fuel cell technology due to the increase in power generation from clean energy sources.

Major market players included in this report are:
Hydrogenics
Fuel cell Energy, Inc.
Plug Power Inc.
Ballard Power Systems Inc.
SFC Energy AG
Bloom Energy
Intelligent Energy Limited
Ceres Power
Horizon Fuel Cell
Nuvera Fuel Cells, LLC

Recent Developments in the Market:
 In December 2021, Plug Power and Edison Motors unveiled that the companies have signed an agreement to develop and market a hydrogen fuel-cell-powered electric city bus.

Global Fuel Cell Technology Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered End-User, Application, Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By End user:
Fuel cell vehicles
Utilities
Défense

By Application:
Portable
Stationery
Transport

By Type:
Proton Exchange Membrane fuel cell
Phosphoric acid fuel cell
Alkaline fuel cell
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World



Companies Mentioned

Hydrogenics
Fuel cell Energy, Inc.
Plug Power Inc.
Ballard Power Systems Inc.
SFC Energy AG
Bloom Energy
Intelligent Energy Limited
Ceres Power
Horizon Fuel Cell
Nuvera Fuel Cells, LLC

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.