Press release
Hydrogen Fuel Cells, Global Industry Trends, Growth, Opportunities 2024
Global Hydrogen Fuel Cells
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=5434&type=smp
According to The Business Research Company's, The hydrogen fuel cells market size has grown exponentially in recent years. It will grow from $8.12 billion in 2023 to $11.57 billion in 2024 at a compound annual growth rate (CAGR) of 42.5%. The growth in the historic period can be attributed to strong economic growth in emerging markets and rise in demand for fuel cell electric vehicles (fcevs).
The hydrogen fuel cells market size is expected to see exponential growth in the next few years. It will grow to $43.93 billion in 2028 at a compound annual growth rate (CAGR) of 39.6%. The growth in the forecast period can be attributed to government support, rising demand for electric vehicles, and increasing awareness to reduce greenhouse gas emissions will drive the growth. Major trends in the forecast period include focus on product innovations, facility expansion, collaborations and acquisitions, and increasing investments to improve financial strength and product portfolio.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/hydrogen-fuel-cells-global-market-report
Market Drivers and Trends:
The rising demand for electric vehicles will support the growth of the hydrogen fuel cells market. EVs have gained popularity, due to their environmental benefits and reduced dependence on fossil fuels. Fuel-cell electric vehicles use fuel cell stacks to convert onboard gaseous hydrogen to electricity, which is then stored in a battery to power the vehicle's electric motor. Most fuel cell electric vehicles (FCEVs) are powered by hydrogen (H2) and are considered zero-emission vehicles (ZEVs). For example, in 2022, the World Economic Forum reported that in the first half of 2022, almost 4.3 million battery-powered electric cars (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally. PHEV sales increased by 37% and BEVs by 75% yearly. Also, by 2030, 40% of cars sold in China, the largest auto market in the world, are expected to be electric. Therefore, the rising demand for electric vehicles will drive the hydrogen fuel cells market.
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. For example, in July 2021, Hyzon Motors Inc., a US-based manufacturer of commercial vehicles powered by zero-emission hydrogen fuel cells announced a new commercial vehicle that could reduce the weight and manufacturing costs of a commercial vehicle powered by Hyzon's hydrogen fuel. The system's metal structure is integrated with lightweight composite materials in this revolutionary technology.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Hochtief AG, Skanska AB, Balfour Beatty plc, DPR Construction, Royal BAM Group,AECOM Technology, Kier Group plc, McCarthy Holdings Inc, Vaughn Construction, JE Dunn Construction, Hiranandani Constructions, Taisei Corporation, Mitsui Fudosan Co. Ltd., Sungdo Engineering & Construction Co. Ltd., Hansen Yuncken, Shimao Group Holdings Limited, China National Building Material Group (CNBM) Co. Ltd., Greenland Holdings Corp. Ltd., Morgan Sindall Group plc, HPP Architects, Henning Larsen, Marco Casamonti and Partners, PORR, Bouygues Construction, Eiffage, Turner Construction, Brasfield & Gorrie, The Boldt Company, Bechtel, Techint Engineering & Construction, Acciona, Cencosud Construction, Arabtec Construction LLC, Cofely Besix Mannai Facility Management, Saudi Binladin Group (SBG), Olayan Group, Aveng Group, Orascom Construction, Hassan Allam Holding, Arbico Plc
Hydrogen Fuel Cells Market 2024 Key Insights:
• The hydrogen fuel cells market size is expected to see exponential growth in the next few years. It will grow to $43.93 billion in 2028 at a compound annual growth rate (CAGR) of 39.6%.
• Growing Electric Vehicle Adoption Fuels Demand For Hydrogen Fuel Cells
• Technological Innovations Aim To Enhance Efficiency And Reduce Costs In Hydrogen Fuel Cell Market
• Asia-Pacific was the largest region in the hydrogen fuel cell market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=5434&type=smp
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: mailto:info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company ( https://www.thebusinessresearchcompany.com ) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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 Hydrogen Fuel Cells, Global Industry Trends, Growth, Opportunities 2024 here
News-ID: 3776424 • Views: …
More Releases from The Business research company
Leading Companies Reinforce Their Presence in the Blanket Market
The blanket market is steadily gaining traction as consumers increasingly seek comfort and style in their home essentials. With evolving preferences and technological advancements, this sector is set to experience consistent growth. Let's explore the current market value, key players, emerging trends, and the main segments fueling this expansion.
Forecasted Blanket Market Size and Growth Trajectory
The blanket market has seen consistent growth over recent years. From a market size…
Global Trends Review: The Rapid Evolution of the Sporting and Athletic Goods Mar …
The sporting and athletic goods market is experiencing steady growth, driven by evolving consumer preferences and technological advancements. As health and wellness continue to gain importance globally, this market is set for notable expansion in the coming years. Let's explore the current market size, key factors fueling its growth, leading companies, major trends, and segmentation details.
Forecast for Sporting and Athletic Goods Market Size Through 2029
The sporting and athletic…
Train Seat Market Overview, Key Growth Factors, and Insights on Top Players
The train seat industry is experiencing notable growth, driven by advancements in technology and increasing demand for improved passenger comfort. As rail travel evolves, so does the need for innovative, efficient, and adaptable seating solutions that cater to modern requirements. Let's explore the current market status, key players, trends, and segments shaping the future of train seating.
Train Seat Market Size and Growth Expectations
The train seat market has seen…
Leading Companies Solidifying Their Presence in the Spunbond Nonwovens Market
The spunbond nonwovens industry has been experiencing notable growth and shows promising prospects for the coming years. This expanding market is being driven by several innovations and increasing demand across diverse sectors, signaling a robust future.
Projected Growth and Market Size of the Spunbond Nonwovens Market
The spunbond nonwovens market has demonstrated solid expansion recently, with its size expected to rise from $15.57 billion in 2024 to $16.59 billion in…
More Releases for Construction
Off-site Construction Market: Revolutionizing Construction
In the dynamic landscape of the construction industry, off-site construction has emerged as a game-changer, set to transform the way we build. The market, valued at USD 249.15 billion in 2022, is poised for a remarkable growth spurt, projecting a 5.8% increase in revenue to reach a staggering USD 369.72 billion by 2029.
Know More About The Report:
https://www.maximizemarketresearch.com/market-report/off-site-construction-market/169386/
Unlocking Off-site Construction: A Holistic Overview
Off-site construction isn't just a building method; it's a…
Future Prospects of Data Center Construction Market by 2029 - Whiting-Turner Con …
Datacenter physical facility in an enterprise is designed to share IT operations and equipment to store, process, and disseminate data and applications.
The construction process refers to activities involved in the designing, planning, and construction of a facility. Datacenter costs comprise IT infrastructure, power distribution and cooling solutions, and several miscellaneous expenses.
Get Sample Report with Latest Industry Trends Analysis:
https://a2zmarketresearch.com/sample-request/674529
The top companies in this report include:
Whiting-Turner Contracting, Turner Construction, Holder…
Data Center Construction Market Analysis to 2028: Industry Growth, Size, Trends …
The Data Center Construction market report focused on the industry dynamics, including market growth elements. The report also identifies limitations and chances for high segments of market growth. Our world-renowned analyst team conducts a study that is a result of extensive primary and secondary research. The growth of the market is forecast with complex algorithms such as regression analysis, end-user analysis, etc. PESTEL analyses are the factors that influence global…
Residential Construction Market Is Booming Worldwide | Hindustan Construction, S …
A new research document is added in HTF MI database of 384 pages, titled as 'Residential Construction Global Industry Guide - Market Summary, Competitive Analysis and Forecast to 2025' with detailed analysis, Competitive landscape, forecast and strategies. Latest analysis highlights high growth emerging players and leaders by market share that are currently attracting exceptional attention. The identification of hot and emerging players is completed by profiling 50+ Industry…
Data Center Construction Market Next Big Thing 2026 | DPR Construction, Holder C …
Global data center construction market is projected to register a CAGR of 11.1% in the forecast period of 2019 to 2026.Global Data Center Construction Market By Infrastructure Type (electrical Infrastructure, mechanical infrastructure, general infrastructure), Data Center Type (Tier I, Tier II, Tier III, Tier IV), Organization Size (small organization, medium organization, large organization), Vertical (Banking, financial services and insurance, IT & Telecommunications, Government & Defense, Healthcare, Retail Colocation, Power &…
Data Center Construction Market Next Big Thing 2026 | DPR Construction, Holder C …
Global data center construction market is projected to register a CAGR of 11.1% in the forecast period of 2019 to 2026.Global Data Center Construction Market By Infrastructure Type (electrical Infrastructure, mechanical infrastructure, general infrastructure), Data Center Type (Tier I, Tier II, Tier III, Tier IV), Organization Size (small organization, medium organization, large organization), Vertical (Banking, financial services and insurance, IT & Telecommunications, Government & Defense, Healthcare, Retail Colocation, Power &…
