Dublin, May 20, 2021 (GLOBE NEWSWIRE) -- The "Fuel Cells - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Fuel Cells is projected to reach US$14.6 billion by 2027, driven by the technology's very vital role in helping build a clean and sustainable world for future generations.
The market is expected to stage a quick recovery from the COVID-19 pandemic and the resulting recession largely due to the fact that a clean and sustainable world also means a pandemic-free world.
A large portion of rebuilding efforts will be directed towards building a different economy. An economy that will be more cleaner, sustainable and disease-free. Economic stimulus packages will be directed at the environment creating a real opportunity for sustainable energy technologies. Fuel Cell is a technology that takes on climate change head-on by eliminating pollution caused by burning fossil fuels.
A fuel cell features an electrochemical energy conversion mechanism that converts hydrogen and oxygen into electricity and heat. A fuel cell is similar to a battery in that it can be recharged while power is being drawn from it. But, a fuel cell is recharged using hydrogen and oxygen, instead of electricity as in the case of a battery. The basic system includes two electrodes, an anode and a cathode, divided by an electrolyte.
The process of formation of ions (charged particles) at one end of electrodes with the help of a catalyst, which are then passed via the electrolyte, causes production of power electrochemically. This power can be used for generating electricity. A fuel cell uses chemical reactions instead of combustion process.
Fuel cell is basically small and modular in nature, which makes it perfect for use as power source in various applications ranging from electric vehicles to grid-connected utility power units Fuel cell technology, with its ability to replace traditional power generating technologies based on combustion methods for stationary and mobile applications, is being promoted as a new clean and green power generation approach.
In an era characterized by rising concerns over greenhouse gases, carbon footprint and climate change, the technology is steadily gaining popularity by virtue of its ability to reduce emissions of greenhouse gases, toxic pollutants and reliance on imported fuels, and also enhance global energy security. Depleting stocks and rising costs of fossil fuels are triggering concerns over how the world would address future fuel needs in industrial and transportation applications. Multi-fuel fuel cells have lower nitrogen and Sulphur emissions.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Fuel Cells: An Introduction
- Classification of Fuel Cells
- Major Applications of Fuel Cells
- Fuel Cells: Clean, Efficient, Reliable and Eco-friendly Alternative to Conventional Petroleum-based Fuels
- Fuel Cells Market: Prospects and Outlook
- Major Market Drivers & Restraints
- Government Subsidies to Promote Fuel Cell Technology
- Increasing Adoption of EVs and Hybrid Vehicles
- Strong Focus on Alternative Energy Sources
- Potential for Use in Distributed Generation Applications
- Increasing Popularity of Hydrogen Fuel
- Stationary & PEM Fuel Cells and Fuel Cell Vehicles to Post Solid Growth
- Polymer Electrolyte Membrane Fuel Cell Dominates Fuel Cells Market
- Stationary and Transport Applications Lead the Fuel Cells Market
- Clean Energy Focus Drives Use of Fuel Cells in Transportation Sector
- Developed Economies at the Forefront of Innovation and Adoption of Fuel Cells-based Applications
- Developing Economies Emerge as Promising Regions for Fuel Cell Adoption
- Cost Reductions to Benefit Market Growth
- Fuel Cell Capacity Continues to Grow at a Steady Pace
- Covid-19 Impact: A Review
- Competitive Landscape
- A Fairly Competitive Market
- Participants Focus on Product Innovation and Expansion to Gain Competitive Edge
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 66 Featured):
- AFC Energy Plc
- Air Liquide S.A.
- Ballard Power Systems, Inc.
- Bloom Energy Corporation
- Ceres Power Holdings plc
- Doosan Fuel Cell America, Inc.
- FuelCell Energy, Inc.
- Horizon Fuel Cell Technologies Pte Ltd.
- Hydrogenics Corporation
- ITM Power Plc
- Loop Energy
- Mitsubishi Heavy Industries Ltd.
- Mitsubishi Hitachi Power Systems, Ltd.
- Nuvera Fuel Cells, LLC
- Plug Power Inc.
- Proton OnSite
- SFC Energy AG
- Siemens Industry, Inc.
- Teledyne Energy Systems, Inc.
- UltraCell LLC
3. MARKET TRENDS & DRIVERS
- Visions of an All-Hydrogen Economy Drives Interest in Fuel Cells
- Government Support Critical for Promoting Adoption of Fuel Cell Technology
- Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
- Efforts to Promote Green Energy and Infrastructure Development Boost Hydrogen Fuel Cells Market
- Auto Industry Banks on Fuel Cells as a Sustainable Fuel Technology of the Future
- Hydrogen FCEVs Combat GHG Emissions
- Hydrogen Refueling Infrastructure: Critical for the Success of FCVs
- High Costs: The Achilles Heel of Hydrogen Fuel cells
- Deployments of Fuel Cell Electric Bus (FCEB) Continue to Gain Momentum
- Growing Need to Reduce Emissions Kindles Efforts to Commercialize Fuel Cell Heavy Trucks
- Focus on Enhancing Durability and Lowering Cost of Fuel Cells Increases
- Competition
- Hydrogen Fuel Cells for Motorbikes: An Opportunity to Tap
- Fuel Cells Find Niche Applications in 2-Stroke Engine Motorcycles
- Fuel Cell-Powered Trains and Trams: Tremendous Potential for Fuel Cell Industry
- Material Handling: The Most Successful Vehicle Application of Fuel Cells
- Marine Sector: A Nascent yet Promising Application of Fuel Cells
- Need for Alternative Propulsion Solutions Drives Demand for Fuel Cells in Marine Vessels Market
- Expanding Applications in the Military Sector Augur Well for the Market
- A Glance at Use of Fuel Cell Systems in Select Military Applications
- Strong Demand for Portable Electronic Devices to Spur Opportunities for Portable Fuel Cells
- Environmental Benefits Drive Adoption of Fuel Cells in the Power Sector
- Rising Investments in Distributed Renewable Energy Generation Enhances Prospects for Fuel Cells
- Fuel Cells to Provide Backup Power in Industrial Settings
- Fuel Cells Operating at Mid-Range Temperature to Benefit Renewable Power
- Aircraft Manufacturers Take a Closer Look at Fuel-Efficient and Eco-Friendly Fuel Cells
- Fuel Cells for Data Center Market to Witness Notable Expansion
- Fuel Cell Electrolyte Market to Gain from Rising Adoption of Fuel Cells
- Market to See Rise in Shipments of Fuel Cell APUs
- Stationary Fuel Cells Market: An Overview
- Telecom Industry Moving towards Stationary Fuel Cells for Backup Power
- Stationary Fuel Cells Gather Steam in Backup and UPS Stationary Applications
- Residential Sector Drives Demand for Stationary Fuel Cells
- Stationary and Distributed Energy Applications Garner Attention
- MFCs Technology: Promising Source of Alternative Power
- Technological Benefits Continue to Propel Micro Fuel Cells Market
- Direct Methanol Fuel Cell Preferred Choice for Portable Devices
- Broader Adoption in Key Applications Fuels PEM Fuel Cells Market
- Alkaline Fuel Cell Market Heading for Massive Gains
- SOFCs: A Technology of Interest to the Developed Countries
- Key Applications of SOFCs
- SOFCs Gather Momentum in Stationary Cogeneration/CHP Deployments
- SOFCs: Ideal for Distributed Power Generation
- Technological Developments Widen Scope of Applications for SOFCs
- Planar Solid Oxide Fuel Cell Market: An Overview
- Technology Innovations and Research Efforts in Fuel Cell Market - A Review of Select Developments
- Innovative Fuel Cell Technology to Improve Carbon Fuel Utilization in DCFCs
- Self-Healing Membrane to Potentially Extend Hydrogen Fuel Cells' Life
- Researchers Develop Pajarito Powder for Hydrogen Fuel Cells
- New Nanomaterial to Allow Cost-Efficient Production of Hydrogen for Fuel Cell Cars
- Researchers at NETL Develop Innovative Method to Improve SOFC Performance
- Advances in Nanotechnology Enables More Efficient Fuel Cell Applications
- Raw Material Prices: A Review
- Important Materials Used in Fuel Cells and Batteries
- Challenges in Fuel Cell Commercialization
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- UNITED STATES
- Market Overview
- US and Japan Collaborate for Research on Hydrogen Fuel Cells in Transport Sector
- Unreliability of Power Grid Turns Focus onto Fuel Cells
- Small Fuel Cell Sector Solidifies Presence in Market
- Residential Sector Drives Stationary Fuel Cell Industry
- Innovation in Mobile Technology Fuels Micro Cell Advancement
- Distributed Power and Cogeneration Promise Opportunities
- Government Adoption of Fuel Cell Technology to Give a Boost to the Market
- Incentives to Propel Adoption of Fuel Cell Technology
- Government's Vital Role in Promoting a Hydrogen Economy
- CANADA
- Market Overview
- Investments Strengthens Hydrogen Fuel Cell Sector in Western Canada
- Fuel Cell Programs
- JAPAN
- Market Overview
- Japan's Vision of a Hydrogen Society Bodes Well for Fuel cells, Driving Growth in Hydrogen Generators Market
- Japan to Double Hydrogen Filling Stations
- Households Offer Huge Growth for Fuel Cells
- Fuel Cells Ideal for Advanced Military Applications
- Mobile Applications to Fuel Growth
- CHINA
- A Promising Market for Fuel Cells-based Applications
- Transportation: The Major Application Segment for Fuel Cells
- Hydrogen Fuel cells Market in China: An Overview
- EUROPE
- Europe: A Major Market for Fuel Cells
- COVID-19 Outbreak to Curtail Market Expansion in the Near-Term
- A Review of the European SOFCs Market
- Stationary SOFC Systems on the Upward Trajectory
- FCH JU Projects Foster Fuel Cell Micro CHP Installations
- FRANCE
- Market Overview
- GERMANY
- Germany: A Technology Leader in Hydrogen and Fuel Cells
- Favorable Policies and R&D Initiatives Accelerate Fuel Cell Adoption in Germany
- Germany Rolls Out Fuel Cells-Powered Train
- ITALY
- UNITED KINGDOM
- Hydrogen and Fuel Cells: Growth Opportunities in the UK
- Government Funding Programs for Hydrogen Vehicles and Infrastructure
- SPAIN
- RUSSIA
- REST OF EUROPE
- Finland: Potential for Fuel Cell Technology in Energy Sector
- ASIA-PACIFIC
- Asia-Pacific Fuel Cell Sector to Witness Significant Growth
- SOUTH KOREA
- South Korea: A Key Adopter of Fuel Cells
- REST OF ASIA-PACIFIC
- Taiwan: A Potential Market for Fuel Cells
- Opportunities for OEMs
- Transportation: Another Segment Offering Huge Potential
- Southeast Asia
- Southeast Asia Fuel Cells Market: Limitations in Power Generation
- Biomass Power Generation Poses Direct Competition to Fuel Cells Market
- Concentration on Various Renewable Technologies Hinders Fuel Cells Development
- Over-Priced Fuel Cells Technology Restrains Commercialization
- Inconsistent Regulations Curtail Development of Fuel Cells Technology
- LATIN AMERICA
- REST OF WORLD
- South Africa: Hydrogen to Light up Remote South African Communities
IV. COMPETITION
- Total Companies Profiled: 66
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