South Korea Fuel Cell Market Forecast 2023-2028
KEY FINDINGS
The South Korea fuel cell market is predicted to register a CAGR of 18.99% during the forecast period, 2023-2028. The KIST Centre for Hydrogen and Fuel Cell Research plays a pivotal role in advancing the nationwide adoption of fuel cell systems. It is presently engaged in exploring renewable water electrolysis, chemical hydrogen storage, and the application of fuel cells in various contexts, such as transportation, power generation, and portable devices.
MARKET INSIGHTS
This South Korea fuel cell market growth is accredited to government support, rising environmental concerns, and advancements in fuel cell technology. Fuel cells, particularly hydrogen fuel cells, are gaining traction as a clean and sustainable energy source to meet South Korea's growing energy demands while reducing greenhouse gas emissions.
Also, the South Korean government has been actively promoting the adoption of fuel cells through various initiatives, including financial incentives, policy support, and regulatory frameworks. For instance, the Green New Deal and Hydrogen Economy Roadmap announced by the government are expected to drive significant investments in the fuel cell sector.
Further, the ongoing research and development efforts in fuel cell technology have led to improved efficiency, durability, and cost-effectiveness. Advancements in fuel cell manufacturing techniques are expected to make these systems more accessible to a wider range of industries.
COMPETITIVE INSIGHTS
Some of the leading companies in the market are Doosan Fuel Cell Co Ltd, FuelCell Energy Inc, AISIN CORPORATION, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Country Snapshot
- 2.3. Country Analysis
- 2.4. Key Growth Enablers
- 2.5. Key Challenges
- 3. Key Analytics
- 3.1. Crisis Scenario Analysis
- 3.1.1. Impact Of Covid-19 On Fuel Cell Market
- 3.2. Pestle Analysis
- 3.2.1. Political
- 3.2.2. Economical
- 3.2.3. Social
- 3.2.4. Technological
- 3.2.5. Legal
- 3.2.6. Environment
- 3.3. Key Market Trends
- 3.4. Porter’s Five Forces Analysis
- 3.4.1. Buyers Power
- 3.4.2. Suppliers Power
- 3.4.3. Substitution
- 3.4.4. New Entrants
- 3.4.5. Industry Rivalry
- 3.5. Market Concentration Analysis
- 4. Market By Application
- 4.1. Stationary
- 4.1.1. Market Forecast Figure
- 4.1.2. Segment Analysis
- 4.2. Transportation
- 4.2.1. Market Forecast Figure
- 4.2.2. Segment Analysis
- 4.3. Portable
- 4.3.1. Market Forecast Figure
- 4.3.2. Segment Analysis
- 5. Market By Type
- 5.1. Polymer Electrolyte Membrane Fuel Cells (Pemfc)
- 5.1.1. Market Forecast Figure
- 5.1.2. Segment Analysis
- 5.2. Phosphoric Acid Fuel Cells (Pafcs)
- 5.2.1. Market Forecast Figure
- 5.2.2. Segment Analysis
- 5.3. Solid Oxide Fuel Cells (Sofcs)
- 5.3.1. Market Forecast Figure
- 5.3.2. Segment Analysis
- 5.4. Molten Carbonate Fuel Cells (Mcfcs)
- 5.4.1. Market Forecast Figure
- 5.4.2. Segment Analysis
- 5.5. Other Types
- 5.5.1. Market Forecast Figure
- 5.5.2. Segment Analysis
- 6. Competitive Landscape
- 6.1. Key Strategic Developments
- 6.1.1. Mergers & Acquisitions
- 6.1.2. Product Launches & Developments
- 6.1.3. Partnerships & Agreements
- 6.2. Company Profiles
- 6.2.1. Aisin Corporation
- 6.2.1.1. Company Overview
- 6.2.1.2. Products List
- 6.2.1.3. Strengths & Challenges
- 6.2.2. Ballard Power Systems Inc
- 6.2.2.1. Company Overview
- 6.2.2.2. Products List
- 6.2.2.3. Strengths & Challenges
- 6.2.3. Bloom Energy Corporation
- 6.2.3.1. Company Overview
- 6.2.3.2. Products List
- 6.2.3.3. Strengths & Challenges
- 6.2.4. Cummins Inc
- 6.2.4.1. Company Overview
- 6.2.4.2. Products List
- 6.2.4.3. Strengths & Challenges
- 6.2.5. Doosan Fuel Cell Co Ltd
- 6.2.5.1. Company Overview
- 6.2.5.2. Products List
- 6.2.5.3. Strengths & Challenges
- 6.2.6. Fuelcell Energy Inc
- 6.2.6.1. Company Overview
- 6.2.6.2. Products List
- 6.2.6.3. Strengths & Challenges
- 6.2.7. Nedstack Fuel Cell Technology Bv
- 6.2.7.1. Company Overview
- 6.2.7.2. Products List
- 6.2.8. Nuvera Fuel Cells Llc
- 6.2.8.1. Company Overview
- 6.2.8.2. Products List
- 6.2.9. Plug Power Inc
- 6.2.9.1. Company Overview
- 6.2.9.2. Products List
- 6.2.9.3. Strengths & Challenges
- 6.2.10. Sfc Energy Ag
- 6.2.10.1. Company Overview
- 6.2.10.2. Products List
- 6.2.10.3. Strengths & Challenges
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