Fuel Cell Market Detail Analysis Focusing On Key Players: Bloom Energy, Panasonic, Toshiba, Hess Corporation, FuelCell Energy, Fuji Electric Corp. of America, Nuvera Fuel Cells, LLC, Doosan Fuel Cell America, Inc., Plug Power, Ballard Power Systems, Hydro
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.
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Global Fuel Cell Market size for 2016 was valued over USD 2 billion and will exceed USD 6 billion by 2024, as reported in the latest study by Global Market Insights, Inc. 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.
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.
SOFC in 2016, accounted for over 40% of the global fuel cell market share. Ongoing adoption of fuel cells across small and large stationary power generation systems will stimulate the industry growth. These cells operate at high temperatures ranging between 8000C to 1,0000C and have an efficiency of over 60% when converted from fuel to electricity. High efficiency, stability, comparatively low cost, fuel flexibility and low emissions are some of the key features that will enhance the product penetration.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Bloom Energy
4. Hess Corporation
5. FuelCell Energy
6. Fuji Electric Corp. of America
7. Nuvera Fuel Cells, LLC
8. Doosan Fuel Cell America, Inc.
9. Plug Power
10. Ballard Power Systems
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Global Fuel Cell Market, By Product
Global Fuel Cell Market, By Application
The U.S. fuel cell market is predicted to grow pertaining to continuous financial support from government organization including Department of Energy. Increasing government support to promote renewable energy technologies to curb carbon emissions will further complement the industry outlook. In 2015 the Department of Energy, announced an investment of USD 130 million toward the development of fuel cells and hydrogen fueling infrastructure.
Regulatory policies pertaining to emissions along with increasing investments toward development of hydrogen infrastructure will drive the UK fuel cell market share. Increasing focus to replace the conventional power sources with the sustainable energy systems will further stimulate the industry growth. The Government of UK has planned to open 65 hydrogen refueling station by 2020 and 1,150 by 2030.
Key industry players across fuel cell market includes Hydrogenics, Ballard Power Systems, Nedstack Fuel Cell Technology, Bloom Energy, Panasonic, Plug Power, SFC Energy AG, Toshiba, Doosan Fuel Cell America, Inc., Arcola Energy, Aisin Engineering Co., Ltd., Ceres Power, Nuvera Fuel Cells, LLC, Horizon Fuel Cell Technologies, Hess Corporation, AFC Energy plc, FuelCell Energy, and Fuji Electric Corp. of America.
Browse key industry insights spread across 309 pages with 470 market data tables & 30 figures & charts from the report, Fuel Cell Market in detail along with the table of contents:
About Global Market Insights
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