Press release
Global Bipolar Plates Market Booms with 22.2% CAGR | Clean Energy and Automotive Fuel Cell Adoption Propel Growth
Bipolar Plates Market SizeThe global market for Bipolar Plates was valued at US$ 676 million in the year 2024 and is projected to reach a revised size of US$ 2691 million by 2031, growing at a CAGR of 22.2% during the forecast period.
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Bipolar plates (BPs) are the electrical connections between cells; typically, these are also used for distributing the fuel and the oxidant to anode and cathode, respectively. Consequently, these are subject to oxidizing conditions on one face and reducing conditions on the opposite one. Bipolar Plates are a key component in a fuel cell stack.
1. The representative players in global Bipolar Plates market are Dana, Shanghai Zhizhen, Schunk Group, Ballard and ElringKlinger, accounting for 48% market share in terms of revenues in 2023. Players are concentrated in North America, Europe and China. Many new entrants in recently years.
2. Regions Comparison
The representative production regions in this market are North America, Europe and China, with more than 70% market share in 2023 and representative consumption regions are North America, Europe and Asia-Pacific. China has great potential demand.
3. Product Classification
Bipolar Plates mainly includes Graphite, Metal, Composite materials. Graphite type accounts for 63% market share in terms of sales in 2023. Taking the manufacturing processing, raw material etc factors into consideration, Graphite type cost is low; while Metal and Composite types have mechanical performance, electric conductivity, strength etc advantages and will further replace Graphite type in the future.
4. Downstream Market
Bipolar Plates is mainly used in Transportation (e.g. Electric Vehicles), Stationary Power and Portable Power end products. By fuel cell type, including Proton Exchange Membrane Fuel Cells (PEMFC), Solid Oxide Fuel Cells (SOFC), Molten Carbonate Fuel Cells (MCFC), Phosphoric Acid Fuel Cells (PAFC). The representative application is Proton Exchange Membrane Fuel Cells (PEMFC), accounting for 71% market share in terms of sales in 2023.
5. Price
The price of Bipolar Plates differs from company to company, as there is a great difference in terms of technology, materials, performance etc. The average price is decreasing gradually, for continuous maturity of production technology.
The Bipolar Plates market has many aspects of drivers:
The increasing adoption of hydrogen fuel cells in transportation (e.g., buses, trucks, and passenger vehicles) is driving demand for bipolar plates, which are crucial for the fuel cell's operation.
The rising need for reliable backup power systems in various sectors, including telecom, data centers, and critical infrastructure, boosts the demand for fuel cells and, consequently, bipolar plates.
Also, governments worldwide are implementing policies and incentives to promote clean energy technologies and reduce greenhouse gas emissions. These policies support the growth of fuel cell technologies and the production of bipolar plates. Initiatives to build hydrogen production, distribution, and refueling infrastructure enhance the fuel cell market, thereby driving the bipolar plates market.
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By Type
• Graphite
• Metal
• Composite
By Application
• Proton Exchange Membrane Fuel Cells (PEMFC)
• Solid Oxide Fuel Cells (SOFC)
• Molten Carbonate Fuel Cells (MCFC)
• Phosphoric Acid Fuel Cells (PAFC)
Key Companies
Dana, Cell Impact, Schunk Group, Nisshinbo, FJ Composite, Ballard, ElringKlinger, VinaTech (Ace Creation), LEADTECH International, SGL Carbon, Shanghai Hongfeng, Dongguan Jiecheng Graphite Products, Shanghai Hongjun, Shanghai Shenli, Shenzhen Jiayu, Anhui Mingtian, Guangdong Nation-Synergy, Hunan Zenpon, Shanghai Yoogle, Shanghai Zhizhen, Zhejiang Harog
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