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Fuel Cell Market By 2024 Analysis, Forecasts and Top Key Players: Toshiba, Panasonic, Doosan, Fuji Electric Corp. of America, Bloom Energy, FuelCell Energy and 10 Other Companies Profiled
Fuel Cell Market
Growing spending by government organizations and private institutions including Credit Suisse, DOE and DAG Ventures toward innovation and technological advancement will further complement the industry landscape. In 2015, Credit Suisse invested USD 130 million for development of SOFC technology in the U.S.
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Favorable government policies pertaining to sustainable energy technologies along with increasing demand for FCEV’s will drive the fuel cell market share. Upsurge in funding by private institutions and government organizations including DOE, DAG Ventures and Credit Suisse toward technological advancement and innovations will stimulate the business landscape. In 2015, Credit Suisse funded USD 130 million in the Bloom Energy toward the development of SOFC technology in the U.S.
SOFC fuel cell market share is predicted to witness growth owing to growing demand for fuel cell across large and small stationary power generation systems. Ability to possess over 60% efficiency and operate at high temperate ranges from 8000C to 1,0000C over other alternates make its adoption preferable over other alternates. Cost effectiveness, low emissions, stability, fuel flexibility and high efficiency are some of key parameters which will impede the fuel cell market.
Wide applications area including FCEV’s, forklift trucks, two and three wheelers, light vehicles, trams, ferries, small boats and goods handling vehicles will boost the product adoption across transport sector. Ongoing deployment in e-bikes, UAVs, and in numerous commercial vehicles will further complement the fuel cell market growth. In 2016, the fuel cell vehicle sales in the U.S. grew to 5,000 units when compared to 4,000 units in 2015.
Eminent industry players in fuel cell market includes Hydrogenics Corporation, Ballard, Bloom Energy, FuelCell Energy, Toshiba, UTC Power, Panasonic, Doosan, AFC Energy, Arcola, Plug Power, SFC, Horizon and Ceres Power.
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UK fuel cell market is set to witness growth owing to growing investment toward development of hydrogen infrastructure along with favourable government regulations to reduce carbon emissions. Growing demand for development and deployment of the renewable energy technologies will further complement the business landscape. The Government of UK announced to inaugurate 1,150 hydrogen refuelling station by 2030.
Japan fuel cell market is set to exceed 70 MW by 2024. Increasing concerns pertaining to security of supply along with growing adoption of clean energy technologies will propel the industry growth. Government backed extensive research and development projects along with development of hydrogen infrastructure across the nation will complement the industry outlook.
In 2017, Hyundai unveiled its plan to launch second-generation hydrogen fuel cell vehicles, which will enhance the properties of the technology.
Browse key industry insights spread across 309 pages with 470 market data tables & 30 figures & charts from the report, Fuel Cell Market detail along with the table of contents:
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