Press release
Fuel Cell Market Seeing 24% CAGR Surge to 2024
Global Fuel Cell Market includes PEMFC, SOFC, and DMFC as key product segments. PEMFC dominated with 60% of global revenue in 2015. The industry is further categorized on application basis as stationary, portable, and transport. Stationary was largest segment while portable fuel cell market shows strong growth promise along with transport applications.
Request a sample copy of Fuel Cell Market Research Report @ https://www.marketstudyreport.com/request-a-sample/467756/?utm_source=opr-SK
Fuel Cell Market size is expected to reach USD 25.5 billion by 2024; according to a new research report.
Government initiatives coupled with increasing awareness towards clean energy is forecast to be key reason driving fuel cells market size growth. For instance, European Union’s commitment to reduce 80% emissions by 2050 by focusing mainly on transport may positively impact industry growth for transport applications.
EPA regulations towards reducing greenhouse gases and amendments like Clean Air Act may drift focus towards fuel cells electric vehicles (FCEV) to reduce carbon dioxide emission. This has resulted shift in focus of automotive makers towards fuel cells technology over conventional energy source. Hyundai and Daimler are prominent players in FCEV market.
High technology switching cost accompanied with lack of infrastructure may negatively impact industry growth during the forecast period. However, the industry has witnessed government initiative which may drive industry growth. For instance, in 2014, UK confirmed to provide USD 17.4 million for refueling station infrastructure and hydrogen fueled automotive.
Basic fuel cells raw material includes electrodes, membranes, catalysts, polymers and ceramics. These raw materials are procured from suppliers along with pumps, valves subsystem and stack membrane electrode assembly (MEA), which are forwarded to system integrators. These pumps and valves are used to control fuel flow (hydrogen, methanol and natural gas).
Enquire about this report @ https://www.marketstudyreport.com/enquiry-before-buying/467756/?utm_source=opr-SK
Key insights from the report include:
Stationary fuel cells are projected to witness steady demand and generate revenue exceeding USD 16.5 billion by 2024. Increasing backup power installations in commercial and residential buildings is likely to be key factor driving growth.
Portable fuel cell market share is set to grow at 22.85% CAGR due to increasing demand for potable charging source for consumer electronic goods. Solid oxide fuel cells are anticipated to experience highest gains up to 2024 owing to its low-cost benefits compared to other available technologies.
APAC, led by Japan and South Korea fuel cells market size was dominant regional market accounting over 50% of global share in 2015, favorable government policies and stringent emission norms are expected factors influencing regional demand.
North America, with U.S. fuel cell market, is set to reach over USD 6 billion by 2024. Government support to promote renewable energy source to reduce greenhouse gas is likely to drive industry growth.
Europe, led primarily by Germany and UK, is projected to expand over 24% CAGR in terms of volume. Increasing fuel cell electric vehicle (FCEV) demand coupled with hydrogen as transport fuel in the region is forecast to positively impact on industry growth.
Global fuel cells market share is consolidated. Major industry players include Hydrogenics, Ballard, Panasonic, and Toshiba. Other significant industry share contributors include AFC Energy PLC, SFC Energy AG, UTC Power, Plug Power Inc., Nedstack fuel, Clearedge Power, and Bloom Energy. Also, the industry is witnessing mergers and acquisitions among industry participants to expand their geographic presence.
Read full report description @ https://www.marketstudyreport.com/reports/fuel-cell-market/?utm_source=FR-SK
Related Reports: -
Global Fuel Cells Market Professional Survey Report 2017
This report studies Fuel Cells in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions,...
https://www.marketstudyreport.com/reports/global-fuel-cells-market-professional-survey-report-2017/?utm_source=RR-SK
About Us:
Centralize market research purchases across your entire organization in one place.Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.
Market Study Report
The Green Suite #4594,
Dover, DE 19901
United States
Phone: 1-201-355-0868
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
News: https://www.marketstudyreport.com/category/news-releases/
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 Fuel Cell Market Seeing 24% CAGR Surge to 2024 here
News-ID: 783687 • Views: …
More Releases from marketstudyreport.com
Load Bank Market Growth Prospectus by 2028 - Business Opportunities by ASCO Powe …
A concise assortment of data on the 'Load Bank Market' offers an exhaustive study targeting current market trends influencing the business across assorted regions. Significant details related to market size, market share, applications, and statistics are put together to convey an ensemble prediction of the industry. The research further focuses on comprehensive competitor analysis in addition to highlighting growth strategies embraced by market leaders.
Load Bank Market Size was estimated…
Agriculture Equipment Market is Expected to Reach USD 161640 Million by 2028 - J …
Global Agriculture Equipment Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of the market with the geographical landscape, demand, remuneration scale, and growth of this vertical have also been included in this report.
Global Agriculture Equipment Market Size was estimated at USD 114110 million in 2021 and is projected to reach USD 161640 million by 2028, exhibiting a CAGR of…
Electric Vehicle Market Size to grow at a CAGR of 23.5% through 2028| Tesla Inc. …
Global Electric Vehicle Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market with the geographical landscape, demand, remuneration scale, and growth of this vertical have also been included in this report.
The electric vehicles (EVs) market is estimated to witness a robust growth rate of 23.5% during the period 2019-2028.
The operation is done to stop ligament tears and…
Fuel Cell Air Compressor Market is Expected to Reach USD 512.3 Million by 2028 - …
Global Fuel Cell Air Compressor Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market with the geographical landscape, demand, remuneration scale, and growth of this vertical have also been included in this report.
Global Fuel Cell Air Compressor Market Size was estimated at USD 215.1 million in 2021 and is projected to reach USD 512.3 million by 2028, exhibiting…
More Releases for Fuel
Marine Gensets Market: Information by Vessel Type (Commercial Vessel, Defense Ve …
A marine genset is a power unit generator that supplies electricity to ships. It offers reliable and fuel-efficient electric power generation for onboard power, emergency gensets, and diesel-electric propulsion. It can be fueled by gas, diesel, hybrid fuel, and others. It has application in offshore commercial vessels, defense vessels, and offshore vessels, among others. Nowadays, most of the marine gensets are fueled by diesel. However, the introduction of alternative fuels…
Fuel Card Market to 2027 - Global Analysis and Forecasts By Type (Branded Fuel C …
The global fuel card market is estimated to account US$ 6.29 Bn in 2018 and is expected to grow at a CAGR of 5.8% during the forecast period 2019 – 2027, to account to US$ 10.39 Bn by 2027.
Request Sample Pages of “Fuel Card Market” Research Report @ www.theinsightpartners.com/sample/TIPRE00003099/?utm_source=openpr&utm_medium=10387
Fuel Card Market: Key Insights
Fuel Card Market Size 2021, by manufacturer, region, types, and application, forecast till 2028 is analyzed and researched on…
Solid Oxide Fuel Cell Market Revenue And In-Depth Analysis 2028 | Atrex Energy, …
This detailed market study focuses on data from different primary and secondary sources, and is analyzed using various tools. It helps to gain insights into the market's growth potential, which can help investors identify scope and opportunities. The analysis also provides details of each segment in the global solid oxide fuel cell market.
According to the report, the growing implementation of solid oxide fuel cells in information centers is expected to…
Clean Fuel Technology Market – Development Assessment 2025 | Clean Fuel Develo …
Global Clean Fuel Technology Market: Overview
Clean technology in general implies the use of any service, product, or system that has as little of a negative impact on the environment as possible. Aspects of clean technology include the conservation of energy, sustainable resources, and clean sources of fuels. Clean fuels can refer to the use of renewable fuels such as biogas, or also blended fuels such as fossil fuels with renewable…
Fuel Cell Interconnectors Market By Product Type Ceramic based, Metal based; By …
Global Fuel Cell Interconnectors Market Introduction
A fuel cell is a battery that generates electricity through an electrochemical reaction where the fuel cell interconnector is a layer made up of either ceramic or metallic material, which combines the electricity generated by each individual cell. Fuel cell interconnectors are placed between each individual cell to connect the cells in the series. Ceramic fuel cell interconnectors are more suitable for high-temperature working conditions…
Fuel Cells Sales In Global Market: By Product Type - Proton Exchange Membrane Fu …
Researchmoz added Most up-to-date research on "Fuel Cells Sales In Global Market: By Product Type - Proton Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC) & Solid Oxide Fuel Cells (SOFC)" to its huge collection of research reports.
In this report, the global Fuel Cells market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at…
