openPR Logo
Press release

Fuel Cell Technology Market Overview with Detailed Analysis, Trends, Competitive landscape, Demand and Trends Forecast to 2030

10-12-2022 12:13 PM CET | Energy & Environment

Press release from: Market Research Future - MRFR

Fuel Cell Technology Market overview:

The global Fuel cell Technology Market is expected to grow at a compound annual growth rate (CAGR) of 26.0%, from USD 2.9 billion in 2022 to USD 9.1 billion by 2027.

Furthermore, other factors such as the growing demand for clean energy and fuel cell-powered vehicles are increasing the market's share value. The increasing development of the power sector and improvements in power generation capacities are driving the demand for unconventional energy, and the encouragement of public-private partnerships for the growth of fuel cells is opening up the global market. The increased use of fuel cells in devices such as tablets, PCs, backup batteries, and smartphones creates enormous opportunities for the Fuel Cell Technology Market.

Request Sample Report @ https://www.marketresearchfuture.com/sample_request/786

The expansion of automotive sectors and advancements in transportation is driving the Fuel Cell Technology Market. The widespread use of fuel cells in electric vehicles is aiding the market's growth. Electric vehicle adoption in developed and developing countries supports the need to achieve its value. Demand for electric vehicles is increasing, as is environmental concern about reducing carbon emissions. Governments are also concerned about the environment and raising awareness about using electric vehicles.

The COVID-19 pandemic outbreak resulted in a temporary ban on import and export and manufacturing and processing activities across various industries and electrical utilities. This reduced demand for fuel cells from these consumers. Furthermore, a halt in the construction of new electric utility infrastructures, grid networks, renewable power plants, and other power plants due to a labour shortage is expected to hinder the market growth during the pandemic period. As a result, market growth in the second, third, and fourth quarters of 2020 will be slower. However, the fuel cell market recovered by the end of 2021, as COVID-19 vaccination became available in several economies worldwide, which is expected to boost global demand.

FAQ's:

What is "Fuel Cell Technology" Market?
Who are the Top Market manufacturers?
Which are the most Business Regions across the globe?
How big is the "Fuel Cell Technology" Market in upcoming Years?
What are the Latest developments/industry updates in the "Fuel Cell Technology" Market?
Recent developments:

Toyota Corporation unveiled a new hydrogen production facility and refuelling station at its decommissioned car factory in Melbourne, Australia, in March 2021, ahead of the Mirai FCEV, the company's second-generation fuel-cell vehicle. A 200-kilowatt electrolyzer is powered by an 84-kilowatt solar array and a 100-kilowatt battery on-site.
Hyzon Motors Inc. announced the delivery of 29 fuel cell electric trucks to a major Chinese steel conglomerate through Shanghai Hydrogen HongYun Automotive Co. in December 2021.
Request For Customized Report @ https://www.marketresearchfuture.com/ask_for_customize/786

Market segmentation:

The Fuel Cell Technology Market has been segmented according to Application, Method, and Fuel Type.

The global market has been divided into three fuel types: methane, hydrogen, and others. Because of its significant system efficiency, durability, and higher reliability, the methane segment will lead the market over the forecast period.

Air The global market is divided into AFC, SOFC, MCFC, PAFC, PEM, DMFC, and others based on the method. The PEM segment will dominate the market over the forecast period with its diverse applications such as speciality vehicles, transportation, distributed generation, portable power, and backup power.

The global market comprises three applications: portable power, transportation, and stationary. The transportation segment will lead the market during the forecast period.

Regional analysis:

The global fuel cell technology market is divided into five regions: Asia Pacific, Europe, North America, the Middle East and Africa, and South America. Over the forecast period, the APAC region will have the lion's market share. Growing demand from the auto sector in South Korea, Japan, and China, strict government regulations related to carbon emissions, increased use of fuel cell-powered vehicles, rising power generation from cleaner sources of energy, and high demand for combined heat and power (CHP) systems in Japan, and favourable government policies in South Korea, Japan, and China are all contributing to the region's global market growth.

The market in North America is expected to grow steadily over the forecast period. High utilisation of fuel cell technology, constant technological advancements, rising promotion and acceptance of electric vehicles, and increasing R&D investments by various players contribute to the region's global market growth.

Browse Report Details @ https://www.marketresearchfuture.com/reports/global-fuel-cell-technology-market-786

Key Players:

Eminent industry players profiled in the global fuel cell technology market growth include Solution Corporation, Ballard Power Systems, Toshiba Energy Systems, SFC Energy, Fuel Cell Energy, Bloom Energy, Intelligent Energy, Horizon Fuel Cells, Mitsubishi Hitachi Power Systems, and Intelligent Energy.

Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR's approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.

Market Research Future

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Sales: +1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Fuel Cell Technology Market Overview with Detailed Analysis, Trends, Competitive landscape, Demand and Trends Forecast to 2030 here

News-ID: 2764942 • Views:

More Releases from Market Research Future - MRFR

Advertising Software Market expected to reach USD 264.15 billion by 2030
Advertising Software Market expected to reach USD 264.15 billion by 2030
The advertising software market has experienced significant growth in recent years, driven by the increasing demand for efficient and targeted advertising solutions. This article aims to provide a simplified overview of the advertising software market size, its growth trajectory, applications, and implications for businesses. Market Size and Growth Trajectory: The global advertising software market has witnessed substantial growth, the market is expected to grow USD 264.15 billion at a CAGR of 19.10%
Genomics Market Share is Expected to Witness Healthy Valuation of USD 133.84 Billion at 12.60% CAGR by 2032
Genomics Market Share is Expected to Witness Healthy Valuation of USD 133.84 Bil …
The genomics market is experiencing rapid growth and transformation, propelled by advancements in genetic research, personalized medicine, and the declining cost of genomic sequencing technologies. This burgeoning field offers insights into the genetic basis of diseases, driving demand for genomic solutions across various sectors. The genomics market is projected to reach USD 133.84 billion by 2032 at 12.60% CAGR during the forecast period 2023-2032, driving market growth is the expanding applications
Maternal Health Market Would Rocket up to USD 72.6 Billion by 2032
Maternal Health Market Would Rocket up to USD 72.6 Billion by 2032
The maternal health market, crucial for ensuring the well-being of mothers and newborns, is witnessing significant developments globally. Market analysis indicates a surge in demand for maternal health products and services driven by growing awareness, government initiatives, and technological advancements. "Maternal health market information by type of pregnancy, complication, care and region- market forecast till 2032".  The maternal health market is expected to reach USD 72.6 billion by 2032 at 14.90%
Infusion Pump Market to Receive Immense Growth of USD 21.2 Billion with an Excellent CAGR of 8.20% by 2032
Infusion Pump Market to Receive Immense Growth of USD 21.2 Billion with an Excel …
The infusion pump market is experiencing robust growth globally, primarily fueled by advancements in healthcare infrastructure, the rising prevalence of chronic diseases, and an increasing number of surgeries and medical procedures. Recent reports suggest that the market is set to witness substantial expansion in the coming years. The infusion pump market is expected to reach USD 21.2 billion by 2032 at 8.20% CAGR during the forecast period 2023-2032, drivers of market

All 5 Releases


More Releases for Fuel

Marine Gensets Market: Information by Vessel Type (Commercial Vessel, Defense Ve …
A marine genset is a power unit generator that supplies electricity to ships. It offers reliable and fuel-efficient electric power generation for onboard power, emergency gensets, and diesel-electric propulsion. It can be fueled by gas, diesel, hybrid fuel, and others. It has application in offshore commercial vessels, defense vessels, and offshore vessels, among others. Nowadays, most of the marine gensets are fueled by diesel. However, the introduction of alternative fuels
Fuel Card Market to 2027 - Global Analysis and Forecasts By Type (Branded Fuel C …
The global fuel card market is estimated to account US$ 6.29 Bn in 2018 and is expected to grow at a CAGR of 5.8% during the forecast period 2019 – 2027, to account to US$ 10.39 Bn by 2027. Request Sample Pages of “Fuel Card Market” Research Report @ www.theinsightpartners.com/sample/TIPRE00003099/?utm_source=openpr&utm_medium=10387 Fuel Card Market: Key Insights Fuel Card Market Size 2021, by manufacturer, region, types, and application, forecast till 2028 is analyzed and researched on
Solid Oxide Fuel Cell Market Revenue And In-Depth Analysis 2028 | Atrex Energy, …
This detailed market study focuses on data from different primary and secondary sources, and is analyzed using various tools. It helps to gain insights into the market's growth potential, which can help investors identify scope and opportunities. The analysis also provides details of each segment in the global solid oxide fuel cell market. According to the report, the growing implementation of solid oxide fuel cells in information centers is expected to
Clean Fuel Technology Market – Development Assessment 2025 | Clean Fuel Develo …
Global Clean Fuel Technology Market: Overview Clean technology in general implies the use of any service, product, or system that has as little of a negative impact on the environment as possible. Aspects of clean technology include the conservation of energy, sustainable resources, and clean sources of fuels. Clean fuels can refer to the use of renewable fuels such as biogas, or also blended fuels such as fossil fuels with renewable
Fuel Cell Interconnectors Market By Product Type Ceramic based, Metal based; By …
Global Fuel Cell Interconnectors Market Introduction A fuel cell is a battery that generates electricity through an electrochemical reaction where the fuel cell interconnector is a layer made up of either ceramic or metallic material, which combines the electricity generated by each individual cell. Fuel cell interconnectors are placed between each individual cell to connect the cells in the series. Ceramic fuel cell interconnectors are more suitable for high-temperature working conditions
Fuel Cells Sales In Global Market: By Product Type - Proton Exchange Membrane Fu …
Researchmoz added Most up-to-date research on "Fuel Cells Sales In Global Market: By Product Type - Proton Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC) & Solid Oxide Fuel Cells (SOFC)" to its huge collection of research reports. In this report, the global Fuel Cells market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at