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Hydrogen Fuel Cells Market Size, Technologies And Forecast 2023-2032
Hydrogen Fuel Cells Market
The Business Research Company's latest "Global Hydrogen Fuel Cells Opportunities And Strategies Market Report - Forecast To 2032" is the most comprehensive report available in market that will help gain a truly global perspective with data and statistics from over 60 geographies analyzed with more than 7500 market segments. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market's historic and forecast growth and highlights important trends and strategies that can be adopted to beat the competition in the industry
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The global hydrogen fuel cells market reached a value of nearly $5,698.3 million in 2022, having grown at a compound annual growth rate (CAGR) of 28.8% since 2017. The market is expected to grow from $5,698.3 million in 2022 to $31,841.5 million in 2027 at a rate of 41.1%. The market is then expected to grow at a CAGR of 37.2% from 2027 and reach $154,630.3 million in 2032.
A hydrogen fuel cell is an electrochemical system that uses the chemical energy of hydrogen and oxygen as an oxidant, to generate electrical energy with the by-products of water and heat. Most fuel cells are powered by hydrogen, which can be fed to the fuel cell system directly, or can be generated within the fuel cell system by reforming hydrogen-rich fuels such as methanol, ethanol and hydrocarbon fuels.
Companies in the hydrogen fuel cells market are focusing on new facility expansions to grow in the market. For example, in June 2023, Hyundai Motor Group, a South Korea-based automobile manufacturing company, built and commenced full-scale production at its hydrogen fuel cell system plant in Guangzhou, China. The Guangzhou facility, Hyundai Motor Co.'s first overseas fuel cell system plant, is designed to manufacture 100-kW fuel cell systems, mainly for its Nexo hydrogen fuel cell vehicles, with an annual production capacity of 6,500 units. Further, in March 2022, Hypoint, a UK-based provider of a hydrogen fuel cell system for the air transportation market, opened an R&D and production site in the UK, to make its air-cooled hydrogen fuel cells, which are being developed specifically for use in aircraft.
Hydrogen Fuel Cells Market Segmentation:
By Type -
a) Proton Exchange Membrane
b) Direct Methanol
c) Solid Oxide
d) Alkaline Membrane
e) Phosphoric Acid
f) Molten Carbonate
By End-User -
a) Fuel Cell Vehicles
b) Utilities
c) Defense
Some of the key players involved in the Hydrogen Fuel Cells market are Plug Power,Toshiba Corporation, Doosan Fuel Cell, Bloom Energy, Ballard Power
The regions covered in the globalHydrogen Fuel Cells market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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A Few Points From The Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction And Market Characteristics
...............
18. Competitive Landscape and Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Hydrogen Fuel Cells Market, Conclusions And Recommendations
22. Appendix
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