Fuel Cells for Marine Vessels market 2018-2023 | Fiskerstrand Verft, MEYER WERFT, Nuvera Fuel Cells, Dynad International, PowerCell, SerEnergy, Toshiba, Siemens, Watt Fuel Cell

Global Fuel Cells for Marine Vessels Market Research Information by Type (PEMFC, SOFC, PAFC, DMFC, and Others), Application (Commercial, Defense), Power Output (200KW), & Region – Global Forecast till 2023

Market Research Future published a half cooked research report on Fuel Cells for Marine Vessels market. The Fuel Cells for Marine Vessels market projected to register a CAGR around 6% from 2018 to 2023.

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Market Highlights:

Fuel cells are flexible in nature and can be used as a single cell or in stacks. As a result, the power produced can be channelized through a ship, without an increase in the consumption of conventional fuel. Fuel cells are used in marine vessels to power the propulsion system and cater to the onboard energy consumption requirements. The increased need for alternate propulsion system will create new growth opportunities for the market players. The factors driving the growth of the fuel cells for the marine vessels market are increasing demand for alternative propulsion systems, low operating costs, and focus on curbing pollution. However, there are some shortcomings in the operative performance of the fuel cells for marine vessels such as high capital cost, low lifetime of fuel cell stack, and issues in the design of propulsion system. The market for fuel cells for marine vessels is estimated to witness 6% CAGR during the forecast period.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. In North America, the rising investment in the fuel cell technology in both military and commercial marine sectors. In the European region, increase in several industry consortia developing fuel cell powered vessels. Meanwhile, in 2016, Meyer Werft GmbH & Co. KG signed a contract with thyssenkrupp Marine Systems GmbH to developed fuel cell system for seagoing vessels under e4ships program. Similarly, in 2013, Nuvera Fuel Cells, Llc, signed a contract with Italian Shipbuilder, Fincentieri S.p.A, to produce and deliver fuel cell stacks for use on marine vessels.

The key players in fuel cells for marine vessels market are Fiskerstrand Verft AS (Norway), MEYER WERFT GmbH & Co. KG (Germany), Nuvera Fuel Cells LLC (U.S.), Dynad International BV (Netherland), PowerCell (Sweden), SerEnergy A/S (Denmark), Toshiba Corporation (Japan), Siemens (Germany), Proton Motor GmbH (Germany), and Watt Fuel Cell Corporation (U.S.).

The factors responsible for the growing use of fuel cells for marine vessel propulsion are the increasing demand for alternative propulsion systems, low operating costs, and focus on curbing environmental pollution. There were a number of contracts that fueled the market growth. For instance, in 2016, Meyer Werft GmbH & Co. KG signed a contract with thyssenKrupp Marine Systems GmbH to developed fuel cell system for seagoing vessels under e4ships program. Similarly, in 2013, Nuvera Fuel Cells, Llc signed a contract with Italian Shipbuilder, Fincantieri S.p.A., to produce and deliver fuel cell stacks for use on marine vessels.

The market has been segmented into type, application, power output, and region. Based on type, the Polymer Electrolyte Membrane Fuel Cell (PEMFC) is widely used and comprises the largest share in the market due to its greater operational flexibility, durability, and affordability. Based on application, it is expected that the commercial vessels are expected to witness the largest demand in the global market, during the forecast period, due to their increased maritime trade and worldwide demand for cargo vessels. Based on power output, more than 200 kW fuel cells are widely used and comprise the largest share in the market due to demand for optimized power generation to propel heavy marine vessels

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Scope Of Report

The report for Global Fuel Cells for Marine Vessels Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Table Of Contents

1 Executive Summary

2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model

3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis

Continued......

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