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Hydrogen Fuel Cells Market Outlook 2023 : Expected Market Growth Rate, Major Driver And Segments | Panasonic, Intelligent Energy Holdings, FuelCell Energy, Plug Power, Hyster-Yale, Doosan Fuel Cell
Hydrogen Fuel Cells Global Market Report
The Business Research Company's Hydrogen Fuel Cells Global Market Report 2023 identifies the growing demand for fuel-cell electric vehicles around the world is contributing to the growth of the hydrogen fuel-cell market. Fuel cell electric vehicles (FCEVs) powered by hydrogen are called hydrogen fuel cell vehicles.
The global hydrogen fuel cells market size grew from $5.64 billion in 2022 to $8.23 billion in 2023 at a compound annual growth rate (CAGR) of 45.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the hydrogen fuel cells market is expected to grow to $32.65 billion in 2027 at a CAGR of 41.1%.
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Major players in the hydrogen fuel cells market are Panasonic, Intelligent Energy Holdings, FuelCell Energy, Plug Power, Hyster-Yale, Doosan Fuel Cell, Ballard Power Systems, Nedstack fuel cell technology, Pearl Hydrogen, Hydrogenics, Horizon Fuel Cell Technologies, Toshiba Energy Systems, Mitsubishi Hitachi Power Systems, AFC Energy, and Sunrise Power.
A key trend in the Hydrogen Fuel Cells market includes the companies in the hydrogen fuel cell market are developing new technologies to reduce the weight, manufacturing costs, and component requirements of hydrogen fuel cells. Advances in technologies improve the efficiency of hydrogen fuel cells.
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The Hydrogen Fuel Cells market is segmented -
1) By Type: Polymer Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Solid Oxide Fuel Cells (SOFC), Other Types
2) By Application: Stationary, Transport, Portable
3) By End User: Fuel Cell Vehicles, Utilities, Defense
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Hydrogen Fuel Cells market.
The Business Research Company's "Global Hydrogen Fuel Cells Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Hydrogen Fuel Cells Market Include:
1. Executive Summary
2. Hydrogen Fuel Cells Market Characteristics
3. Hydrogen Fuel Cells Market Trends And Strategies
4. Hydrogen Fuel Cells Market - Macro Economic Scenario
5. Hydrogen Fuel Cells Market Size And Growth
……
27. Hydrogen Fuel Cells Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hydrogen Fuel Cells Market
29. Hydrogen Fuel Cells Market Future Outlook and Potential Analysis
30. Appendix
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