Compact Fuel Cell Market 2022: Growing Demand Analysis by Companies Strategy, Developments, Market Position, Opportunities, and New Product Launches

During the projected period of 2022-2028, the "Compact Fuel Cell Market" research describes in-depth the demand and consumption of numerous products/services connected to market growth dynamics. In terms of quantity, a complete market assessment of the numerous opportunities in the market segment is made. The Compact Fuel Cell market is covered several areas, including constraints, problems, and opportunities, as well as geographical considerations. Customers will benefit from this study because it provides historical and statistically significant data, making it both helpful and instructional.

"In accordance with the Compact Fuel Cell market is set to grow at a CAGR of 36% over the forecast period (2022-2028)."

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Market Overview:

Fuel cell operations rely highly on hydrogen. Hydrogen infrastructure includes hydrogen production, storage, transportation, and distribution. Once hydrogen is produced, it needs to be distributed. It can be sent to point-of-use either through pipelines or through different means of transportation. The commercial roll-out of hydrogen fuel cell vehicles depends on the availability of hydrogen fuel pumps. The US has the largest number of hydrogen refueling stations, which are major centers for fuel cell vehicles. Due to these factors, the country is projected to be the largest market during the forecast period, as well as Japan and Germany will remain favorable markets for fuel cell vehicles. However, other parts of the world lack the infrastructure necessary for the delivery of hydrogen. According to industry experts, the number of hydrogen filling stations for vehicles in these regions would increase over a decade.

Top Key players operating in the global Compact Fuel Cell market is:

Freudenberg Sealing Technologies, Ballard Power System, Ceramic Fuel Cells Limited, FuelCell Energy, Hydrogenics Corporation, AFC Energy PLC, Bloom Energy, Ceres Power Holdings PLC, Doosan Corporation, Plug Power, POSCO Energy, Horizon Fuel Cell Technologies, Quantum Fuel Systems Technologies, Panasonic Corporation, Toshiba Fuel Cell Power Systems

Recent Developments

In October 2018, Hydrogenics opened a new facility in Carlsbad, California. The facility would majorly aim at the integration of hydrogen fuel cell systems into heavy-duty truck and bus platforms for customers in California. The inception of this manufacturing facility helped Hydrogenics in strengthening its position in the US market.
In March 2019, Plug Power launched a new product to enhance its line-up for hydrogen-based fuel cells. ProGen 30kW engine provides a cost-effective solution to meet the needs of today's electric vehicle (EV) use-case, including high utilization, extended runtimes, and reliable performance in harsh environments, rapid fueling, and zero emissions. ProGen industry-leading products make it simple for original equipment manufacturers (OEMs) to adopt sustainable fuel cell power.
In October 2019, Ballard Power signed a contract with Berlin-based BEHALA. Under the contract, Ballard Power will be supplying three FCveloCity 100 kilowatt (kW) fuel cell modules. The fuel cells would be installed on the world's first zero-emission push boat, named Elektra. The push boat will be used primarily to transport goods between Berlin and Hamburg and within Berlin.
In October 2019, SFC Energy signed a contract with Aurorahut, a Finnish company. Under the agreement, AuroraHut integrates the EFOY fuel cell into its new all-season igloo houseboats for highly personalized vacations. The fuel cell is a fully automatic, silent, and environmentally friendly power source in all igloos.

Major Compact Fuel Cell Market Types covered are:

PEMFCs
SOFC
MCFC
DMFC

Major Compact Fuel Cell Market Applications covered are:

Transport
Stationary Power
Portable Power

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Asia Pacific Dominates the Market

Asia Pacific witnessed the maximum investment in terms of capacity expansion by renewable means of energy generation. This is attributed to the increasing investments by countries such as China and India in solar technology, which have targets of offering 680 GW and 227 GW solutions, respectively, until 2022, followed by North and South America. As these technologies are gaining momentum for power generation, the use of batteries has also increased for providing off-grid and grid energy storage, which is supported by the decreasing cost of batteries. All these factors collectively pose challenges for key players in the advances in fuel cell technology market.

Regional Analysis of Global Compact Fuel Cell market:

The Compact Fuel Cell Market research gives an in-depth analysis of market growth and other factors in key nations (regions), including:

North America (the United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)

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Table of Contents: Compact Fuel Cell Market

- Chapter 1: outline of Compact Fuel Cell marketplace

- Chapter 2: worldwide market reputation and forecast through areas

- Chapter 3: worldwide marketplace popularity and forecast by using types

- Chapter 4: worldwide marketplace repute and forecast by using Downstream enterprise

- Chapter 5: marketplace riding issue evaluation

- Chapter 6: market opposition reputation by major producers

- Chapter 7: essential producers Presentation and market data

- Chapter 8: Upstream and Downstream marketplace investigation

- Chapter 9: Fetched and net part investigation

- Chapter 10: marketplace file end

- Chapter 11: research technique and Reference

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