Fuel Cell Market 2022 By Business Strategies, Revenue & Statistics to 2030

The Global Fuel Cell Market is poised for stellar growth on the back of burgeoning manufacturing of next-generation electric vehicles. Of late, the demand has significantly increased across the transport sector due to their high efficiency, longer operational life, and compact size.
Increasing demand for electric vehicles has encouraged private and public organizations to invest in developing next-generation EVs. Moreover, favorable regulatory initiatives to aid the development of sustainable energy technologies have further created lucrative growth opportunities for industry participants. On this note, it is expected that North America fuel cell market may record 13% CAGR by 2026.
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Based on the product, solid oxide fuel cells (SOFCs) are gaining traction across numerous applications of late. The product is widely used in small as well as large stationary power generation applications. With over 60% efficiency, SOFCs can operate at a very high-temperature ranging from 8000C to 1,0000C. Moreover, the product is used across several transport applications. Offered features like low emissions, high efficiency, low cost, fuel flexibility, and stability could accelerate the demand for SOFCs in the forthcoming years.
In addition to the automobile sector, The Industry are extensively used in radios, printers, portable soldier power units, cameras, skid-mounted generators, vine-trimmers, torches, laptops, and auxiliary power units. The products offer enhanced features like rapid-recharging, reliability, low operating cost, and reduced weight to these equipment. Moreover, manufacturers are involved in product design and development to reduce the cost, which may improve fuel cell market business outlook.
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Citing an instance to highlight the same, in 2018, the U.S. Department of Energy (DOE) invested more than USD 39 million to develop this market and hydrogen infrastructure across the North America. Government authorities in the region have also aligned their focus towards clean energy systems. This has led to the development of hydrogen infrastructure, thereby lowering the region’s dependency on conventional fuels, as well as lowering carbon emissions.
On a regional front, Japan is expected to offer lucrative growth opportunities to companies operating in the market. The region has been significantly deploying electric vehicles from the past few years. Increasing concern towards offering electric supply across remote areas coupled with favorable government regulatory strategies to rapidly develop hydrogen infrastructure is driving the demand.
Favorable regulatory policies for electrification of remote and off-grid areas coupled with shifting customer inclination toward clean sustainable energy technologies are expected to support these firms with new business opportunities. Moreover, rapid urbanization and burgeoning industrial activities across developing regions could boost the market size in the forecast period.
Considering competitive landscape Fuel Cell Energy, Doosan, Panasonic, Horizon, Arcola, Toshiba, AFC Energy, Plug Power, Bloom Energy, Hydrogenics, and Ballard Power Systems are the key companies currently operating in the industry.
Table Of Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions
1.3 Market estimates and forecast parameters
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Fuel cell industry 3600 synopsis, 2018 – 2030
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.2.1 Vendor matrix
3.3 Innovation & technology landscape
3.3.1 Cummins Inc.
3.3.2 Panasonic Corporation
3.3.3 Hyundai Motor Company
3.3.4 NUVERA FUEL CELLS, LLC,
3.3.5 SFC Energy
3.3.6 FuelCell Energy, Inc.
3.3.7 AFC Energy
3.3.8 Ballard Power Systems
3.3.9 Plug Power
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