openPR Logo
Press release

Global Fuel Cell Market 2017 - Current and Future Plans 2024

09-08-2017 01:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Fuel Cell Market

SUMMARY

WiseGuyReports published new report, titled “Global Fuel Cell Market Outlook”.

Market Overview

Fuel cells are devices that fuse hydrogen and oxygen electrochemically to produce heat, electricity and water. Unlike conventional batteries, fuel cells are able to generate power continuously as long as source fuel is supplied. Fuel cell is a green technology which do not burn fuel and up to three times more efficient than combustion technologies. Fuel cell system is a zero emission technology to produce electricity when hydrogen is produced from non-polluting sources. In 2015, more than 60,000 fuel cells were shipped across the globe, totaling power over 300 MW. The total megawatts (MW) shipped across the world significantly increased by 65% over 2014. Global fuel cell market growth could be attributed to several factors, such as growth in transportation and logistics sector. Several public utilities in U.S and in South Korea are installing high power, large-scale fuel cell parks. Major manufacturers of U.S such as Fuel Cell energy are exporting multi-megawatt fuel systems to South Korea, accounting for increase in shipments by 20% in 2015. In Japan, continuous growing sale of Ene-Farm residential fuel cell system, also contributing to growth of global fuel cell market. Global fuel cell market is also growing on the back of expansion of transportation sector, fuel cell vehicles were just started to enter the market in 2015 in California, parts of Europe and Japan. In U.S., fuel cell bus deployments and growth in material handling equipments (MHE), account for the growth of fuel cell shipments for transportation applications.

GET SAMPLE REPORT @ https://www.wiseguyreports.com/sample-request/2111666-global-fuel-cell-market-outlook-2024-global-opportunity-and-demand-analysis

Market Segmentation

• By Fuel Cell Type

o Alkaline Fuel Cell
o Phosphoric Acid Fuel Cell
o Molten Carbonate Fuel Cell
o Solid Oxide Fuel Cell
o Proton Exchange Membrane Fuel Cell
o Direct Methanol Fuel Cell

• By Fuel Cell Application

o Stationary Power Generation
o Portable Power Generation
o Power Generation for Transportation

• By Geography

o North America (US, Canada) {Market Share (%), Market Size (USD Billion}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion) }
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion) }
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion) }
o Rest of the World{Market Share (%), Market Size (USD Billion) }

Market Drivers and Challenges

Growing environmental concerns and favorable incentives from government of several countries across the world for the development and adoption of fuel cell vehicle is one of the major growth factor for global fuel cell market. U.S. Environmental Protection agency (EPA) regulations to curb the green house gases and policies like Clean Air Act may shift the focus of automotive manufacturers towards fuel cell technology over conventional sources to reduce carbon monoxide emission. Hyundai and Daimler are some major players in fuel cell electric vehicles (FCEV) market. Government of South Korea and Japan also providing subsidies up to USD 20,000 for purchasing of fuel cell electric vehicles. Major market player are adopting business strategies to expand their business through mergers with other business or by acquisitions. In 2015, major players such as Canada-based Ballard Power Systems acquired U.S. based Protonex Technology Corp. in 2015. NEL ASA, Norway based clean fuel energy company, acquired a Denmark-based hydrogen refueling stations manufacturer for USD 65.7 Million in 2015. Also, some companies expanded their businesses operation in the past few years. For instance, fuel cell developer PowerCell based in Sweden established a new branch in Germany, fuel cell manufacturer FuelCell Energy expanding its business that will increase the supply of fuel cells into the European market and manufacturing capacity. Developing infrastructure in various countries to provide hydrogen filling facilities for public is expected to raise the demand for fuel cell powered vehicles. The numbers of hydrogen stations are increasing significantly across the globe, reached more than 54 new hydrogen stations opened in 2015. Japan lead the way with more than 28 new fuel stations, Europe with 19 and 7 hydrogen station in United States. In 2016, 64 new hydrogen filling stations were opened in Europe with 34 of those located in Germany. However, high initial investments and high cost of fuel cell electric vehicles are expected to hinder the growth of global fuel cell market.

Market Size and Forecast (2016-2024)

The global fuel cell market accounted for USD 2.5 billion in 2015 owing to increased shipments across the globe and rising market of fuel cell powered electric vehicles. Global fuel cell market is projected to expand at a compound annual growth rate of 18% over the forecast period i.e. 2016-2024 and expected to reach USD 9.4 billion by the end of 2024.
North-America fuel cell market dominated the global fuel cell market with more than 50% revenue share in 2015. Fuel cell manufacturers in North-America shipped fuel cell more than 150 MW across the globe, accounting 30% more than shipments from Europe and Asia-Pacific. Apart from large-scale stationary fuel cell systems, shipments also include fuel cell units for telecommunication backup systems and material handling equipments, exported to Korea, Japan, and some other countries. North-America is closely followed by the Asia-Pacific region with more than 35% market share in global fuel cell market. In 2015, Asian shipments also witnessed significant growth with more than 100 MW shipments in 2015. The growth is attributed to the growing shipments of electric fuel cell vehicles of Toyota and Hyundai, coupled with stationary fuel cell systems from Japan and Korea. Europe is also expected to achieve significant growth on the back of growing sales of fuel cell powered electric vehicles, with major share of Germany in the region.

Key Players

• Toshiba
o Synopsis
o Business strategy
o Product Portfolio
o SWOT Analysis
• SFC Energy
• SolidPower GmbH
• Hydrogenic Corporation
• Nuvera Fuel Cells
• United Technologies
• AFC Energy PlC
• Fuel Cell Energy
• Ballard Power Systems
• Bloom Energy
Scope Background
Market Synopsis

Market Segmentation

The global fuel cell market is segmented as follows:
• By Fuel Cell Type (Market Size, Demand Analysis and Growth Analysis)
• By Application Type (Market Size, Demand Analysis and Growth Analysis)
Global Fuel Cell Market Report covered insights of below mentioned regions:
• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors
• Regional Variations
• Recent Trends and Developments
Key Market Players
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remark

..CONTINUED

Contact Us

Email Us at : sales@wiseguyreports.com
Reach Us at : +1 339 368 6938 (US) +44 208 133 9349 (US)

For accessing accurate and deep understanding and to gain latest insights and key developments in the area of your interest, we also have a list of conferences in which you will be interested in, for more information, cordially check

https://www.wiseguyreports.com/conferences

For updating knowledge or for thoroughly understanding various terminologies, we also have vast list of seminars for your reference, for more information cordially check

https://www.wiseguyreports.com/seminars

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

WISEGUY RESEARCH CONSULTANTS PVT LTD
Office No. 528, Amanora Chambers
Pune - 411028
Maharashtra

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 Global Fuel Cell Market 2017 - Current and Future Plans 2024 here

News-ID: 706023 • Views:

More Releases for Europe

Strategy Consulting Market 2025 | Analysis By Top Key Players: Booz & Co. , Rola …
Global Strategy Consulting Market 2019-2025, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The key players covered in this study McKinsey , The Boston Consulting Group , Bain & Company , Booz & Co. , Roland Berger Europe
Influenza Vaccination Market Global Forecast 2018-25 Estimated with Top Key Play …
UpMarketResearch published an exclusive report on “Influenza Vaccination market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 115 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. This report focuses on the Influenza Vaccination market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This
Global Strategy Consulting Market Research Report 2018-2025 | Global Key Player …
An up-to-date research report has been disclosed by Market Research Hub highlighting the title “Global Strategy Consulting Market Size, Status and Forecast 2018-2025” which provides an outlook for current market value as well as the expected growth of Strategy Consulting during 2018-2025. The report studies the casing heads market worldwide, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, size, growth, revenue, consumption, import and export
Strategy Consulting Market Deep Insights with Core Business Strategies 2018 - Ro …
Strategy Consulting Market report provides a vital recent industry data which covers in general market situation along with future scenario for industry around the Globe. It also consist of major data along with forecasts of a global market along with clear presentation of diagrams (charts and tables). Global strategy consulting market size status and forecast 2025 has a vast collection of market research reports concerning the software industry, its sub-sectors, and
Wearable Heart Monitoring Devices Market 2018 To 2023 – Top Leaders Beurer Gmb …
The Worldwide Wearable Heart Monitoring Devices Market is growing at a healthy rate. The major players in this market are Medtronic (U.S.), Kinetec Products UK Ltd. (South America), Beurer GmbH (Europe), Medisana AG (Europe), Briggs Healthcare (U.S.), Polar Electro (Europe), SUUNTO (Europe), Koninklijke Philips N.V. (Europe), Garmin Ltd. (Europe) and others. The Wolrdwide Wearable Heart Monitoring devices is segmented on the basis of products, type, application, and end users. On
Surgical Equipment Market 2018 Leading Manufacturer in Europe, the Middle East & …
The Europe, the Middle East & Africa Surgical Equipment Market is expected to grow at an approximate CAGR of 6.7% during the forecast period. A surgical equipment is a designed tool or device to carry out various surgical procedures so as to modifying biological tissues and to provide access for viewing them. The surgical equipment can be designed specifically for a particular surgery or it can be used as general purpose