Press release
What's driving the Fuel Cell Market Size? Ceres Power, Hydrogenics Corporation, SFC, Ballard, Horizon, Bloom Energy, Plug Power, FuelCell Energy, Arcola, Toshiba, AFC Energy, UTC Power, Doosan and Panasonic
Fuel Cell Market will exceed USD 6 billion by 2024, as reported in the latest study. Increasing investments toward development of hydrogen refueling station coupled with rising demand for space heating across commercial and residential establishments will drive the fuel cell market share. Upsurge in installation of portable charging sources owing to increasing recreation activities will further stimulate the industry outlook. In 2017, the Government of UK granted a funding of USD 30.6 million toward the development of hydrogen vehicles and infrastructure.
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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.
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.
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Key industry players across fuel cell market includes Ceres Power, Hydrogenics Corporation, SFC, Ballard, Horizon, Bloom Energy, Plug Power, FuelCell Energy, Arcola, Toshiba, AFC Energy, UTC Power, Doosan and Panasonic. The industry has witnessed numerous mergers and acquisitions by industry players to expand their regional presence.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Fuel Cell Industry Insights
Chapter 4 Fuel Cell Market, By Product
Chapter 5 Fuel Cell Market, By Application
Chapter 6 Fuel Cell Market, By Region
Chapter 7 Company Profiles
Related Report:
Global Fuel Cell in Automotive Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023
This report focuses on the Fuel Cell in Automotive in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
https://www.marketstudyreport.com/reports/global-fuel-cell-in-automotive-market-2018-by-manufacturers-regions-type-and-application-forecast-to-2023/?utm_source=RR-AN
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