Fuel Cell Market Trends 2020 - Key Opportunity, Application and Forecast to 2025
Category: #technology  By Ronak Bora  Date: 2020-01-16
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Fuel Cell Market Trends 2020 - Key Opportunity, Application and Forecast to 2025

Fuel cell market is poised to display a marked ascent over the upcoming years, perhaps owing to the escalating demands for space heating across the residential and commercial infrastructures. Fuel cells basically generate electricity through the combination of hydrogen and oxygen that is a highly renewable source of energy. The unprecedented demands for renewable energy will thus provide a major boost to the worldwide fuel cell industry.

Shifting consumer inclination towards fuel cell electric vehicles in tandem with surging installation of portable charging stations have considerably powered the demand for sustainable and renewable fuel cells in recent times.

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Driven by the rising consumer preference toward fuel cell electric vehicles, United Kingdom fuel cell market has been forecast to surpass 50 megawatts by 2025. The progressive commercialization of hydrogen technology on an expansive scale will provide tremendous growth opportunities to market contenders, aiding the surge in the industry size. Additionally, strict laws addressing the carbon emission reduction would foster the business development.

Myriad applications across forklift trucks, two and three wheeler vehicles, trams, and other vehicles would supplement the increase in fuel cell market share by 2024. It is noteworthy to mention that the DOE in early 2019 released statistics claiming that the fuel cell vehicles across the United States jumped to a huge number of 6,500 as compared to that in 2015.

Rising adoption of SOFC products across the large and small stationary electricity producing systems to generate power across the remote areas will augment the product penetration, thereby providing an impetus to the industry growth.

The SOFC cells apparently find extensive applications across the utility spectrum where the requirement of high temperature between 800 degree Celsius to 1000 degree Celsius is commanded. In addition to this, reduced cost, robust efficiency, fuel flexibility, and lower emissions would supplement the business dynamics over the seven years term.

Speculations have it that the SOFC product segment would outdo 30 thousand units by 2025.

South Korea has undeniably emerged as the expansion hub for fuel cell market in the years ahead, fundamentally on the grounds of proliferating concerns addressed to the energy security paired with rising deployment of sustainable energy sources.

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Further, expanding government initiatives towards the R&D, product innovation, and commercialization of the fuel cell technology are expected to spur the market. Providing an evidence, the government of South Korea in 2018 proclaimed investing approximately $2.33 billion to improve the hydrogen infrastructure across the country.

Endorsing a rapid growth of fuel cells across global renewable energy sector, it has been apprehended that fuel cell industry would cross a mammoth of USD 7 billion by the end of 2024.

Some Points From Table Of Content: -

Chapter 4    Fuel Cell Market, By Application

4.1    Fuel cell industry share by application, 2018 & 2025

4.2    Stationary

4.2.1    Global market from stationary, 2014 – 2025

4.2.2    Global market from stationary, by region, 2014 - 2025

4.3    Portable

4.3.1    Global market from portable, 2014 – 2025

4.3.2    Global market from portable, by region, 2014 - 2025

4.4    Transport

4.4.1    Global market from transport, 2014 – 2025

4.4.2    Global market from transport, by region, 2014 - 2025

Chapter 5    Fuel Cell Market, By Product

5.1    Fuel cell market share by product, 2018 & 2025

5.2    PEMFC

5.2.1    Global market from PEMFC, 2014 – 2025

5.2.2    Global market from PEMFC, by region, 2014 - 2025

5.3    DMFC

5.3.1    Global market from DMFC, 2014 – 2025

5.3.2    Global market from DMFC, by region, 2014 - 2025

5.4    SOFC

5.4.1    Global market from SOFC, 2014 – 2025

5.4.2    Global market from SOFC, by region, 2014 - 2025

5.5    Others

5.5.1    Global market from Others, 2014 – 2025

5.5.2    Global market from Others, by region, 2014 - 2025

Browse Complete Table of Content @ http://decresearch.com/toc/detail/fuel-cell-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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