Sunday, 09 May 2021 05:26 GMT

Fuel Cell Market Size To Touch $33.09 Billion By 2027 Due To Rising Demand And Favorable Government Regulations Towards Usage of Unconventional Energy Source

(MENAFN - GetNews) According to new report available with Million Insights, the global fuel cells industry report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

The global Fuel Cell market size is anticipated to touch USD 33.09 billion by 2027. The market is likely to exhibit 15.5% CAGR from 2020 to 2027, as per a report published by Million Insights. Increasing focus on the development of unconventional energy sources to reduce the carbon emission is attributing to the growth of the market.

In 2019, North America held the largest share in the market. Further, the country is anticipated to continue its steady growth over the forecast duration. Increasing penetration of electric vehicles is a key factor attributing to the growth of the regional market. On the other hand, Asia Pacific is an emerging market and the growth of the region is expected to be bolstered by rising combined heat & power systems' demand.

To download the sample pdf of Fuel Cell Market Report 'Please click here: 

With the growing pollution across the globe, governments are focusing on encouraging the use of the renewable source of energy, which in turn, bode well for the growth of the fuel-cell market. Ongoing research & development in fuel cell technology is projected to play a key role in the development of the market.

Increasing use of fuel-cell will help minimize the over-dependency on natural gas, coal and other fossil fuels. Technological developments have paved the way for use of fuel-cell in hybrid vehicles, which offers a lucrative growth opportunity for the market participants.

To browse report summary & detailed TOC, "please" click the link below:

Further key findings from the report suggest:

• The market is consolidated in nature with few leading companies are holding the majority of the share in the market.

• North America is the leading region, primarily driven by the growing penetration of electric and hybrid vehicles.

• Increasing focus by governments to curb the carbon emission is attributing to the growth of the market.

• Key players operating in the market include Bloom Energy, Plug Power, Inc., SFC Energy AG, Fuel Cell Energy, Inc. and Hydrogenics Corporation among others.

Million Insights segmented the global fuel cell market on the basis of product, application and region:

Fuel Cell Product Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2016 - 2027)
    • PEMFC
    • PAFC
    • SOFC
    • MCFC
    • Others

Fuel Cell Application Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2016 - 2027)
    • Stationary
    • Transportation
    • Portable

Fuel Cell Regional Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
    • Asia Pacific
        • China
        • Japan
        • South Korea
        • Taiwan
        • Australia
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

Read the Latest Market Research Reports by Million Insights:

•  Active Pharmaceutical Ingredients Market : In connection with the report published, the global active pharmaceutical ingredients market was prized by USD 187.76 billion in 2020. It is estimated to witness 6.6% CAGR from 2021 to 2028. The development can be credited to the progressions in the manufacturing of active pharmaceutical ingredient (API) plus the increasing occurrences of chronic sicknesses, for example cancer and cardiovascular illness.

•  Pea Protein Market : With reference to the report published, the global pea protein market was prized by USD 213.1 million in 2020. It is estimated to witness 12.7% CAGR from 2021 to 2028. The expansion of the market for pea protein, is impelled by the increasing demand for the product, due to rising wakefulness of the customer about the expenditure of a nourishing diet and most important, a dynamic everyday life.

 About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address: Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Wear It Live: Wearable Tech for People with Disability