The global “Fuel Cell Industry” is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Fuel Cell Market Size, Share & COVID-19 Impact Analysis, By Type (Proton Exchange Membrane Fuel Cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Solid Oxide Fuel Cell (SOFC), Others), By Application (Portable, Stationary, Transport), and Regional Forecast, 2021-2028”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period.
The report evaluates the important characteristics of the market based on present industry scenarios, market demands and business strategies. Also, the research report separates the industry based on the Fuel Cell Market share, types, applications, growth factor, key players and regions.
The fuel cell market is projected to grow from USD 3.36 billion in 2021 to USD 28.95 billion in 2028 at a CAGR of 36.0% during the period from 2021-2028.
Key Industry Development:
In April 2019, Bosch announced to join hands with Powercell Sweden AB to bring the global market a hydrogen fuel cell stack. A stack is a critical component used in hydrogen to power electric trucks. Bosch has been working on a number of fuel-cell components, and this collaboration is the extension of that work.
- A comprehensive overview of the Fuel Cell Market
- Significant factors boosting, restricting, challenging and providing an opportunity to the market
- Key insights and major industry developments
- Significant players functioning in the Fuel Cell Market
- Major strategies adopted by players such as the launch of new products for better revenue generation, company collaborations, and others
- Other market trends
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreaks across industries to help you prepare for the future.
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List of Top Key Manufacturers for Fuel Cell Market:
- Ballard Power Systems
- Hydrogenics Corporation
- Horizon Fuel Cell Technologies
- Fuel Cell Energy Inc.
- Doosan Fuel Cell America
- Aisin Seiki Co. Ltd.
- Nuvera Fuel Cells
- SFC Group
- Ceramic Fuel Cells Ltd.
- Bloom Energy
- Plug Power
- Nedstack Fuel Cell Technology BV
- UTC Power Corporation
- Arcola Energy
“Joint Venture Between Bosch And Powercell Sweden For Mass Production Of Hydrogen Fuel Cells Will Create Growth Opportunities”
Robert Bosch GmbH, a German multinational engineering and technology company, announced a licensing agreement with powercell Sweden, a clean energy development company. The agreement is aimed at mass production of hydrogen fuel cells for electrifying heavy-duty commercial vehicles. Hydrogen fuel cells take less time to refuel compared to electric car batteries, making them more suitable for use in vehicles that need to stay on the road for prolonged periods of time. The licensing agreement between the two companies is expected to support fuel cell growth owing to the European Union rules to reduce carbon emission by 15 percent by 2025. This factor will impel industries to adopt electric and hybrid power trains thus aiding expansion of the fuel cell market size.
Furthermore, the launch of fuel cell-powered river push boat is expected to benefit fuel cell revenue. For instance, Ballard has signed an agreement to work with ABB on the design and launch of fuel cell-powered river push boats in France. Ballard is planning to develop and launch a zero-emission river push boat, and also to deliver two of its next-generation 200-kilowatt fuel cell modules in 2020. Moreover, the announcement of 1600 hydrogen fuel cell trucks is expected to facilitate the growth of the global fuel cell market. For instance, Hyundai announced its plan to launch 1600 hydrogen fuel cell trucks in Europe with a joint venture with H2 energy., Hyundai is planning to penetrate European countries beyond Switzerland with this project. However, High cost of hydrogen as it is difficult to generate, handle and store along with the requirement of bulky tanks for storage, which is expensive. These factors together are likely to restrict the global fuel cell market growth to an extent.
Some of the Key Questions Answered in this Report:
- Detailed Overview of Fuel Cell Market will help deliver clients and businesses making strategies.
- Influencing factors that are thriving demand and latest trends running in the market.
- Fuel Cell Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
- What trends, challenges and barriers will impact the development and sizing of the Global Fuel Cell Market?
- SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
- What is the Fuel Cell Market growth momentum or market carries during the forecast period?
- Which region may tap the highest market share in the coming era?
- Which application/end-user category or Product Type may seek incremental growth prospects?
- What focused approach and constraints are holding the Fuel Cell Market demand?
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Regional Analysis for Fuel Cell Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
The Fuel Cell Market research report offers a complete assessment of the industry. The projections included in the report have been determined utilizing demonstrated research philosophies and presumptions.
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
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Major Table of Contents for Fuel Cell Market Research Report:
- Executive Summary
- Market Dynamics
- Key Fuel Cell Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Fuel Cell Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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