Asia-Pacific Fuel Cell Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Asia-Pacific fuel cell market is expected to grow at a CAGR of over 17% during the forecast period of 2020 – 2025. Factors such as rising environmental concerns and increasing demand for clean electrical energy are expected to be major drivers driving the market. The rising demand for clean energy over concerns of the environmental impact of energy generation from conventional sources such as coal and natural gas is expected to help grow the Asia-Pacific fuel cell market. However, relatively high cost and being a new technology has somewhat hampered the growth of the Asia-Pacific fuel cell market.
Key HighlightsThe Asia-Pacific fuel cell market is partially fragmented with a number of small and big players. Some of the major companies are Ballard Power Systems Inc., Toshiba Fuel Cell Power Systems Corporation, FuelCell Energy Inc., Mitsubishi Hitachi Power Systems Ltd, Fuji Electric Co Ltd among others.
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