0
U.S. (TOLL FREE)
+1 (315) 215-3225
Automative

0
U.S. (TOLL FREE)
+1 (315) 215-3225
Fuel Cell Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts 2021-2027
Published Date: September 2021
|
Report Code: QYRE-Auto-24V110
Home | Market Reports | Autos & Vehicles | Vehicle Parts & Services | Gas Prices & Vehicle Fueling
Global Fuel Cell Market Insights Forecast to 2025

Fuel Cell Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts 2021-2027

Code: QYRE-Auto-24V110
Report
September 2021
118 Pages
QYResearch
Region: Global,
Description
Table of Content
Tables & Figures

Fuel Cell Market Statistics 2027

The global Fuel Cell market size is projected to reach US$ 15820 million by 2027, from US$ 4331 million in 2020, at a CAGR of 20.4% during 2021-2027. Strict government regulations aimed at reducing the increasing levels of pollution, and enhanced fuel cell efficiency are other factors that are expected to propel the growth of fuel cell market size.

Fuel Cell Market

A fuel cell is an electrochemical cell that converts the chemical energy of a fuel (often hydrogen) and an oxidizing agent (often oxygen into electricity through a pair of redox reactions.

Due to favorable regulatory policies and increasing emphasis on renewable energy technologies, the rapid implementation of the FCVs (Fuel Cell Vehicles) is stimulating the growth of the Fuel Cell market size. Furthermore, extensive R&D activities and innovations along with shifting preference towards low-emission fuels will boost the outlook for the industry.

Continuous deployment through small and large power generation systems to provide electricity to remote and off-grid areas would significantly accelerate the growth of fuel cells market size. This growing demand for electricity is fostering the deployment of SOFC fuel cells.

Fuel Cell Market Size

The growth of the DMFC segment will be driven by accelerating demand for portable power sources in military applications, forklifts, commercial warehouses, consumer electronics and mobile battery chargers DMFC uses polymer sheath as an anode catalyst for electrolyte, and platinum-ruthenium. Their reaction separates hydrogen from liquid methanol and reduces fuel reformer usage.

The generation of power-based electricity is efficient in reducing carbon dioxide emissions or any other harmful pollutants. Fuel cell technology, therefore, plays a vital role in addressing environmental issues, as well as in encouraging the use of renewable energy carriers. Ongoing product innovations and innovations are expected to offer emerging players new opportunities.

Fuel Cell Market by Type 

Based on Type, PEMFCs is the main type, with a share of about 70%.

Fuel Cell Market by Type 2021-2027

Fuel Cell Market by Application

  • Transport
  • Stationary
  • Portable 

Stationary is the main application, which holds a share of about 70%.

Fuel Cell Market Growth 2021-2027

The global Fuel Cell market is split into two segments, type, and application. The product type briefs on the various types of products available in the market. The report also provides data for each product type by revenue and sales for the forecast time period. It covers the price of each type of product. The other segment on the report, application, explains the various uses of the product and end-users. In the report, the researchers have also provided sales according to the consumption of the product.

Fuel Cell Market Regional Analysis

Asia-Pacific and Europe are the main markets, they occupy about 60% of the global market. Asia-Pacific is one of the promising regional fuel cell markets in the coming years, owing to favorable government policies in countries like China, Japan, and South Korea that push clean energy use. Among the technologies available for fuel cells, the PEMFC is the most used fuel cell in the region

Fuel Cell Market

Major Players in the Fuel Cell Market

The high cost is a big constraint in purchasing fuel cells. However, recent innovations such as the incorporation of portable high-efficiency technologies are likely to reach a broader audience segment. With new goods, multiple players enter the market. Emerging technology, such as a new type of fuel cells, is expected to boost competition in the coming years. 

The industry's leading producers are Bloom Energy, Panasonic, and Toshiba ESS, which accounted for 27.22%, 13.74%, and 7.33% of revenue in 2019.

  • Bloom Energy
  • Panasonic
  • Toshiba ESS
  • Aisin Seiki
  • Plug Power
  • Ballard Power Systems
  • Doosan
  • FuelCell Energy
  • POSCO Energy
  • Hydrogenics
  • SOLIDpower
  • Ceres Power
  • Horizon Fuel Cell Technologies
  • Other

Frequently Asked Questions About This Report

1. Who are the top companies hold the market share in the fuel cell market?

Ans. The major players in the global fuel cell market include Bloom Energy, Panasonic, Toshiba ESS, etc. The top 3 players occupy about 50% shares of the global market.

2. What is the market size of the global fuel cell market from 2021 to 2027?

Ans. The global Fuel Cell market size is projected to reach US$ 15820 million by 2027, from US$ 4331 million in 2020, at a CAGR of 20.4% during 2021-2027.

3. Which region dominated in the global fuel cell market?

Ans. Asia-Pacific and Europe are main markets, they occupy about 60% of the global fuel cell market.

4. What would be the forecast period in the market report?

Ans. The forecast period considered for the global rare fuel cell market is 2021 to 2027.

5. What factors are anticipated to drive fuel cell market?

Ans. Strict government regulations aimed at reducing the increasing levels of pollution, and enhanced fuel cell efficiency are other factors that are expected to propel the growth of fuel cell market size.

6. Which is the most influencing segment growing in the fuel cell market report?

Ans. Based on application, the magnet segment is expected to hold the largest rare earth elements market share during the forecast period.

Table of Content

SELECT A FORMAT
Added to Cart

Electronic (PDF)
$4900
This license allows only one user(purchaser of the report) to access the PDF.

Electronic (PDF)
$7350
This license allows 1 - 5 user to access the PDF, license is suitable for small groups of 5 users working together

Electronic (PDF)
$9800
This license allows users/teams in a same Enterprise to use this report, various departments within an enterpise can use this report
Add to Cart
Buy Now (10% Discount)
OUR CUSTOMER
Accenture

RELATED REPORTS

Global and United States Ethanol Bus Market Insights Forecast to 2027
Global and United States Ethanol Bus Market Insights, Forecast to 2027

120 Pages
Type: Report
Code: QYRE-Auto-10O7276
Thu Nov 11 00:00:00 UTC 2021

Add to Cart

Global Fuel Pump Module Market Research Report 2021
Global Fuel Pump Module Market Research Report 2021

Market Analysis and Insights Global Fuel Pump Module MarketThe global Fuel Pump Module market was valued at US million in 2020 and it is expected to reach US million by the end of 2027 growing at a CAGR of during 20212027.Global Fuel Pump Module Market Drivers and RestrainsThe research report has incorporated the analysis of different factors that augment the markets growth.

120 Pages
Type: Report
Code: QYRE-Auto-22P8148
Fri Oct 01 00:00:00 UTC 2021

Add to Cart

Global Fuel Pump Driver Module Market Research Report 2021
Global Fuel Pump Driver Module Market Research Report 2021

Market Analysis and Insights Global Fuel Pump Driver Module MarketThe global Fuel Pump Driver Module market was valued at US million in 2020 and it is expected to reach US million by the end of 2027 growing at a CAGR of during 20212027.Global Fuel Pump Driver Module Market Drivers and RestrainsThe research report has incorporated the analysis of different factors that augment the markets growth.

120 Pages
Type: Report
Code: QYRE-Auto-29W8197
Fri Oct 01 00:00:00 UTC 2021

Add to Cart

United States Electric Fuel Pump Market Report Forecast 2021 2027
United States Electric Fuel Pump Market Report & Forecast 2021-2027

120 Pages
Type: Report
Code: QYRE-Auto-0J8562
Wed Sep 29 00:00:00 UTC 2021

Add to Cart