Dublin, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The "Fuel Cells - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Fuel Cells Market to Reach $40.7 Billion by 2030
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 19.7% CAGR and reach US$26.8 Billion by the end of the analysis period. Growth in the Phosphoric Acid segment is estimated at 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.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 562 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $9.7 Billion |
| Forecasted Market Value (USD) by 2030 | $40.7 Billion |
| Compound Annual Growth Rate | 19.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- 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 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
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
FOCUS ON SELECT PLAYERS(Total 151 Featured)
- Ballard Power Systems, Inc.
- Bloom Energy Corporation
- Altergy Systems
- Ceres Power Holdings PLC
- AFC Energy PLC
- Arcola Energy Ltd.
- Antig Technology Co. Ltd.
- BayoTech Inc.
- Allatherm
- Alvatek Limited
- Aspen Systems, LLC.
- Air Products Inc.
- Coatema Coating Machinery
- CandleLand
- Chung-Hsin Electric and Machinery Manufacturing Corp. (CHEM)
For more information about this report visit https://www.researchandmarkets.com/r/xfm3y7
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