Fuel Cells Global Strategic Business Report 2024 - Net Zero Carbon Goals and Favorable Government Policy Changes Promote Adoption of Fuel Cell Technology

News provided by

Mar 28, 2024, 19:00 ET

DUBLIN, March 28, 2024 /PRNewswire/ -- The "Fuel Cells - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for Fuel Cells estimated at US$11.4 Billion in the year 2023, is projected to reach a revised size of US$40.7 Billion by 2030, growing at a CAGR of 17.2% over the analysis period 2023-2030.

Proton Exchange Membrane Fuel Cells, one of the segments analyzed in the report, is projected to record 17.3% CAGR and reach US$26.8 Billion by the end of the analysis period. Growth in the Phosphoric Acid Fuel Cells segment is estimated at 17.6% CAGR for the next 8-year period.

The Fuel Cells market in the U.S. is estimated at US$2.8 Billion in the year 2023. 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 23.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.2% and 16.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 16.2% CAGR.

Key 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
Hydrogen FCEVs Combat GHG Emissions
FCEV Targets Set by the Hydrogen Council for the Years 2030 and 2050
Hydrogen Refueling Infrastructure: Critical for the Success of FCVs
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
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
Environmental Benefits Drive Adoption of Fuel Cells in the Power Sector
Rising Investments in Distributed Renewable Energy Generation Enhances Prospects for Fuel Cells
Global Energy Mix: 1990 Vs 2020 Vs 2030
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
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

Key Report Features

Full access to influencer engagement stats
Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
Complimentary report updates for one year
Competitor coverage with global market shares of major players
Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

The report provides coverage of 150+ select competitors.

A selection of companies featured includes:

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)

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

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
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 2024 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

United States
Canada
Japan
China
Europe
France
Germany
Italy
United Kingdom
Spain
Russia
Rest of Europe
Asia-Pacific
South Korea
Rest of World
Latin America

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/v8svem

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo - https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets