Press release
What's driving the Fuel Cell Market trends? Intelligent Energy Limited, Mitsubishi Hitachi Power Systems, Ltd., and Toshiba Fuel Cell Power Systems Corporation, Aisin Seiki Co. Ltd., Ceres Power Holdings PLC, Plug Power Inc., Panasonic Corporation, Ballar
Fuel Cell Market
A collective analysis on ‘Fuel Cell market’ by Market Study Report, LLC, offers an exhaustive study based on current trends influencing this vertical throughout assorted geographies. Key information regarding market size, market share, statistics, application, and revenue are compiled in the research to develop an ensemble prediction. In addition, this research offers a detailed competitive analysis focusing on business outlook emphasizing expansion strategies accepted by market majors.
The global fuel cell market is estimated to reach USD 13.71 billion by 2026 growing at a CAGR of 17.5% during the forecast period, according to a new study. Government regulations and favorable public initiatives regarding energy consumption have boosted the adoption of fuel cell. Growing concerns regarding environment, increasing demand for unconventional energy sources, and increasing adoption of power efficient energy systems further support the market growth. Additionally, higher efficiency offered by fuel cells as compared to other power generating systems, and growth in adoption of distributed power system would boost the market growth during the forecast period.
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The well-known companies profiled in the report include Aisin Seiki Co. Ltd., Ceres Power Holdings PLC, Plug Power Inc., Panasonic Corporation, Ballard Power Systems, Inc., Nedstack Fuel Cell Technology, Horizon Fuel Cell Technologies, Intelligent Energy Limited, Mitsubishi Hitachi Power Systems, Ltd., and Toshiba Fuel Cell Power Systems Corporation. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
The report Fuel Cell Market Share, Size, Trends, & Industry Analysis Report, By Type (Solid Oxide Fuel Cells, Phosphoric Acid Fuel Cells, Proton Exchange Membrane Fuel Cells, Molten Carbonate Fuel Cells); By Application; By Region: Segment Forecast, 2019 - 2026 provides an extensive analysis of present market dynamics and predicted future trends. In 2018, the stationary application segment dominated the global market in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
Other factors supporting market growth include supportive government regulations, increasing awareness, adoption of green technologies, and technological advancements. Increasing investments by vendors in advancements in hydrogen storage, and increasing demand of fuel cell vehicles further boosts the market growth.
Asia-Pacific generated the highest revenue in the fuel cell industry in 2018, and is expected to lead the global market throughout the forecast period. The increasing awareness among consumers, and rising environmental concerns drive the fuel cell market growth in the region. The governments in the region are investing significantly to promote the adoption of fuel Cell. The increasing application of fuel cells in commercial, and transportation sector further supports the market growth in the region. The increasing penetration fuel cell electric vehicles, and significant increase in power consumption accelerates the adoption of fuel cells in the region.
The Phosphoric Acid Fuel Cells (PAFCs) use liquid phosphoric acid, ceramic electrolyte and a platinum catalyst. PAFCs operate at a higher temperature, and are capable of handling small amounts of fuel impurities. PAFCs are used in high-energy demand applications, such as hospitals, schools, and manufacturing and processing centers. Solid Oxide Fuel Cell (SOFCs)
are the highest temperature fuel cells, operating at about 1800 degrees Fahrenheit. SOFCs use a dense layer of ceramic as an electrolyte, a non-platinum catalyst, and are commonly fueled by natural gas. SOFCs can achieve electrical efficiencies of 50% to 60%, and 70%-80% in CHP applications. SOFCs are used in applications such as small residential auxiliary power units, and large-scale stationary power generators for buildings and businesses.
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The Report has segmented the global fuel cell market on the basis of type, application, and region:
Fuel Cell Type Outlook
Solid Oxide Fuel Cells
Phosphoric Acid Fuel Cells
Proton Exchange Membrane Fuel Cells
Molten Carbonate Fuel Cells
Others
Fuel Cell Application Outlook
Stationary
Portable
Transport
Table of Contents
1. Overview and Scope
2. Executive Summary
3. Fuel Cell Market Insights
4. Fuel Cell Market Size and Forecast, 2018-2026 by Type
5. Fuel Cell Market Size and Forecast, 2018-2026 by Application
6. Fuel Cell Market Size and Forecast, 2018-2026 by Region
7. Company Profiles
7.1. Aisin Seiki Co. Ltd.
7.2. Ceres Power Holdings PLC
7.3. Plug Power Inc.
7.4. Panasonic Corporation
7.5. Ballard Power Systems, Inc.
7.6. Nedstack Fuel Cell Technology
7.7. Horizon Fuel Cell Technologies
7.8. Intelligent Energy Limited
7.9. Mitsubishi Hitachi Power Systems, Ltd.
7.10. Toshiba Fuel Cell Power Systems Corporation
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