Global Fuel Cells Market Report 2023-2030: Net Zero Carbon Goals And Favorable Government Policy Changes Promote Adoption Of Fuel Cell Technology
Date
11/30/2023 1:09:08 AM
(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The "Fuel Cells - Global Strategic Business Report" report has been added to ResearchAndMarkets'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)
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Attachment
Fuel Cells Market Fuel Cells Market Tags AFC Alkaline Fuel Cell Direct Methanol Fuel Cell Fuel Cells Hydrogen Fuel Cell Portable Fuel Cell SOFC Stationary Fuel Cell Related Links
Global Fuel Cells Market for Automotive Industry 2023-2027 Hydrogen Fuel Cells Global Market Report 2023 Africa Alkaline Fuel Cells Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028
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