Global Fuel Cells Strategic Business Report 2023: Net Zero Carbon Goals and Favorable Government Policy Changes Promote Adoption of Fuel Cell Technology

Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Fuel Cells: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Fuel Cells estimated at US$9.7 Billion in the year 2022, is projected to reach a revised size of US$40.7 Billion by 2030, growing at a CAGR of 19.7% over the analysis period 2022-2030.

Proton Exchange Membrane, one of the segments analyzed in the report, is projected to record a 19.7% CAGR and reach US$26.8 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Phosphoric Acid segment is readjusted to a revised 20.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 27.5% CAGR

The Fuel Cells market in the U.S. is estimated at US$2.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7 Billion by the year 2030 trailing a CAGR of 27.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.3% and 19.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 18.5% CAGR.

Select Competitors (Total 151 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
• 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

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Attributes:

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of Covid-19 and a Looming Global Recession
• 2020: A Year of Disruption & Transformation
• As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
• World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
• Fuel Cell Shipments Exhibit a Deceleration Amid the Pandemic
• Fuel Cells Gain Prominence to Meet Additional Energy Requirements
• SOFCs: Ensuring Uninterrupted Power Supply amid COVID-19
• Intriguing Applications of SOFCs in Post-COVID-19 Scenario
• Post-COVID-19 Developments Make Fuel Cells a More Dynamic Industry
• 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
• Cost Structure of Fuel Cell: Breakdown (%) of Cost by Key Components
• Competitive Landscape
• A Fairly Competitive Market
• Revenues of Select Publicly Traded Fuel Cell Companies for 2018 and 2019 (In $ Million)
• Participants Focus on Product Innovation and Expansion to Gain Competitive Edge
• Recent Market Activity
• Startups Enter the Fray
• World Brands
• Fuel Cells - Global Key Competitors Percentage Market Share in 2021 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2021 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Ambitious Vision of an All-Hydrogen Economy Drives Interest in Fuel Cells
• Net Zero Carbon Goals and Favorable Government Policy Changes Promote Adoption of Fuel Cell Technology
• Carbon Neutrality Goals of Various Countries
• Auto Industry Banks on Fuel Cells as a Sustainable Fuel Technology of the Future
• PEM Fuel Cells in Automobiles
• Strong Investments to Promote Growth
• Automakers Eye on Hydrogen Fuel Cells to Boost Gains in Post-Pandemic Era
• Global Sales of Hydrogen Fuel Cell Vehicles by Model for 2019
• Hydrogen Fuel cell Powered Vehicles Unveiled During the Period 2014-2018
• Hydrogen FCEVs Combat GHG Emissions
• FCEV Targets Set by the Hydrogen Council for the Years 2030 and 2050
• Global Greenhouse Gas Emissions: Breakdown (in %) by Sector for 2019
• Hydrogen Refueling Infrastructure: Critical for the Success of FCVs
• Number of Public and Private Hydrogen Refueling Stations by Region (As of 2019)
• Top Countries in Terms of Number of Hydrogen Refueling Stations (As of 2019-End)
• High Costs: The Achilles Heel of Hydrogen Fuel cells
• Deployments of Fuel Cell Electric Bus (FCEB)
• Focus on Enhancing Durability and Lowering Cost of Fuel Cells Increases
• 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: A Successful Application of Fuel Cells
• Global Material Handling Equipment Revenues Estimates and Forecasts in US$ Billion: 2016-2024
• Global e-Commerce Sales as Percentage of Total Retail Sales (2015-2021E)
• 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
• Global Consumer Electronics Market (In US$ Billion) for the Years 2018- 2024
• Environmental Benefits Drive Adoption of Fuel Cells in the Power Sector
• Rising Investments in Distributed Renewable Energy Generation Enhances Prospects for Fuel Cells
• Renewable Energy Consumption by Region (in Million tonnes oil equivalent): 2008-2018
• Global Energy Mix: 1990 Vs 2020 Vs 2030
• Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
• Global Wind Power Market: Cumulated Installed Capacity (in GW) for the Years 2012 through 2018
• Demand Response: An Expanding Application for Fuel Cells
• Aircraft Manufacturers Take a Closer Look at Fuel-Efficient and Eco-Friendly Fuel Cells
• Fuel Cells for Data Center Market to Witness Notable Expansion
• Global Data centers Market Growth Outlook (In %) For Years 2019 Through 2025
• 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
• Technology Innovations and Research Efforts in Fuel Cell Market - A Review of Select Developments
• Researchers Develop Proton-Driven Fuel Cell Technology for Powering Space Shuttles
• Boeing's Insitu Improves Hydrogen Fuel Cell Propulsion System for UAVs
• Ballard Power Systems Joins Hand with W. L. Gore for Advancing Fuel Cell Technology
• A WSU Research Team Uses Molybdenum Doped Nickle Catalyst for Making SOFCs more Efficient
• Innovative Fuel Cell Technology to Improve Carbon Fuel Utilization in DCFCs
• Self-Healing Membrane to Potentially Extend Hydrogen Fuel Cells' Life
• 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 : A Review
• Important Materials Used in Fuel Cells and Batteries
• Challenges in Fuel Cell Commercialization

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/vwck6t

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• Global Market for Fuel Cells