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Hydrogen Fuel Cell Market Size, Share & Trends Analysis Report By Type, By Application, and Segment Forecasts, 2021 - 2027
Published Date: May 2019
|
Report Code: QYRE-Auto-26E44
Home | Market Reports |Business & Industrial |Energy & Utilities |Renewable & Alternative Energy
Global Hydrogen Fuel Cells Market Insights Forecast to 2025

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

Code: QYRE-Auto-26E44
Report
May 2019
115 Pages
QYResearch
Region: Global, Japan, North America,
Description
Table of Content
Tables & Figures

Hydrogen Fuel Cell Market Report - 2027

The global Hydrogen Fuel Cell market size is projected to reach US$ 18720 million by 2027, from US$ 3322.1 million in 2020, at a CAGR of 33.4% during 2021-2027. The major factors that are expected to increase the hydrogen fuel cell market size are an increase in environmental concerns, increased government initiatives to develop infrastructure for hydrogen fuel cells, and technological advancements. Asia-Pacific is the largest market with about 47% market share. North America and Europe are followers, accounting for about 45% market share. 

Hydrogen Fuel Cell Market Size, Share, Trends, Industry Growth, Forecast 2027

This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.

What is the Hydrogen Fuel Cell Market?

This report studies the Hydrogen Fuel Cell market, Hydrogen Fuel Cell use hydrogen as a chemical element, and are made into batteries that store energy. The basic principle is the reverse reaction of electrolysis of water, hydrogen and oxygen were supplied to the cathode and anode, hydrogen diffusion through the cathode and the electrolyte reaction, the release of electrons through the external load to reach the anode.

A hydrogen fuel cell is a power plant that utilizes the inverse process of electrolyzed water to generate electricity as well as the only emissions: water. Clean and environmentally friendly, and high energy density, compared to the battery on the market can have a longer battery life.

Hydrogen Fuel Cell Market Overview

Increasing government initiatives to reduce carbon emissions is expected to increase the hydrogen fuel cell market. Due to its eco-friendly nature and high efficiency when compared to a combustion engine the hydrogen fuel cell is expected to be adopted on a larger scale by the automotive industry.

Traditionally, the North American market develops significantly due to the commercialization and adoption of electric vehicles. However, Asia Pacific emerges as a growing market in terms of shipment in 2019. Growing demand for new energy vehicles and power systems in the APAC market triggers the market demand.

hydrogen fuel cell industry growth, market size, share, leaders, trends, forecast, industry analysis, report 2027

The hydrogen and fuel cells market, by type, is segmented into air-cooled type and transport-cooled type, and air-cooled system accounted for the largest market share in 2019.

Growing demand for clean energy generation and reliance on hydrogen and fuel cells-based public transportation systems in developed regions is driving the market growth. Moreover, advantages offered by the air-cooled system, such as structure is simple, lightweight, the price is relatively cheap are likely to drive the demand for air-cooled system during the forecast period.

Power-based electricity generation is effective in minimizing the emission of carbon dioxide or any other hazardous pollutants. Hence, hydrogen and fuel cells technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players.

Scope of the Report:

Report Metric

Details

Report Name

Hydrogen Fuel Cell Market

The market size in 2019

$1860.8 Million

The revenue forecast in 2026

$13760 Million

Growth Rate

33.1% during 2021-2026

Base year considered

2019

Forecast period

2020-2026

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Market by Type

Air-cooled Type, Transport-cooled Type, Others

Market by Applications/Enduser

Transport, Stationary, Others

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Hydrogen Fuel Cell Market Leaders

The top three companies make up more than 46% market share of the Hydrogen Fuel Cells market in 2015. The top three manufacturers are Ballard Power Systems Inc. (BLDP) (market share of 17.36%), Toshiba (market share of 16.68%) and PLUG Power( market share of 11.93%) in 2015. The majority of large corporations are mainly concentrated in Japan and South Korea, and North America.

  • Panasonic
  • Plug Power
  • Toshiba ESS
  • Ballard
  • SinoHytec
  • Hydrogenics
  • Honda
  • Hyundai Mobis
  • Toyota Denso
  • Elring Klinger
  • Bosch/Powercell
  • Symbio

Hydrogen Fuel Cell Market Segments

Hydrogen Fuel Cell Market By Type

  • Air-cooled Type
  • Water-cooled Type

Hydrogen Fuel Cell Market By Application

  • Stationary
  • Transport
  • Portable

Hydrogen Fuel Cell Market Production By Region

  • United States
  • Europe
  • China
  • Japan
  • Other Regions

Hydrogen Fuel Cell Market Consumption By Region

  • North America
  • United States
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Philippines
  • Thailand
  • Vietnam
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Rest of Europe
  • Central & South America
  • Brazil
  • Rest of South America
  • Middle East & Africa
  • GCC Countries
  • Turkey
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

TABLE OF CONTENT

 

LIST OF TABLES & FIGURES

 

Hydrogen Fuel Cell Market Report - 2027

The global Hydrogen Fuel Cell market size is projected to reach US$ 18720 million by 2027, from US$ 3322.1 million in 2020, at a CAGR of 33.4% during 2021-2027. The major factors that are expected to increase the hydrogen fuel cell market size are an increase in environmental concerns, increased government initiatives to develop infrastructure for hydrogen fuel cells, and technological advancements. Asia-Pacific is the largest market with about 47% market share. North America and Europe are followers, accounting for about 45% market share. 

Hydrogen Fuel Cell Market Size, Share, Trends, Industry Growth, Forecast 2027

This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.

What is the Hydrogen Fuel Cell Market?

This report studies the Hydrogen Fuel Cell market, Hydrogen Fuel Cell use hydrogen as a chemical element, and are made into batteries that store energy. The basic principle is the reverse reaction of electrolysis of water, hydrogen and oxygen were supplied to the cathode and anode, hydrogen diffusion through the cathode and the electrolyte reaction, the release of electrons through the external load to reach the anode.

A hydrogen fuel cell is a power plant that utilizes the inverse process of electrolyzed water to generate electricity as well as the only emissions: water. Clean and environmentally friendly, and high energy density, compared to the battery on the market can have a longer battery life.

Hydrogen Fuel Cell Market Overview

Increasing government initiatives to reduce carbon emissions is expected to increase the hydrogen fuel cell market. Due to its eco-friendly nature and high efficiency when compared to a combustion engine the hydrogen fuel cell is expected to be adopted on a larger scale by the automotive industry.

Traditionally, the North American market develops significantly due to the commercialization and adoption of electric vehicles. However, Asia Pacific emerges as a growing market in terms of shipment in 2019. Growing demand for new energy vehicles and power systems in the APAC market triggers the market demand.

hydrogen fuel cell industry growth, market size, share, leaders, trends, forecast, industry analysis, report 2027

The hydrogen and fuel cells market, by type, is segmented into air-cooled type and transport-cooled type, and air-cooled system accounted for the largest market share in 2019.

Growing demand for clean energy generation and reliance on hydrogen and fuel cells-based public transportation systems in developed regions is driving the market growth. Moreover, advantages offered by the air-cooled system, such as structure is simple, lightweight, the price is relatively cheap are likely to drive the demand for air-cooled system during the forecast period.

Power-based electricity generation is effective in minimizing the emission of carbon dioxide or any other hazardous pollutants. Hence, hydrogen and fuel cells technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players.

Scope of the Report:

Report Metric

Details

Report Name

Hydrogen Fuel Cell Market

The market size in 2019

$1860.8 Million

The revenue forecast in 2026

$13760 Million

Growth Rate

33.1% during 2021-2026

Base year considered

2019

Forecast period

2020-2026

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Market by Type

Air-cooled Type, Transport-cooled Type, Others

Market by Applications/Enduser

Transport, Stationary, Others

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Hydrogen Fuel Cell Market Leaders

The top three companies make up more than 46% market share of the Hydrogen Fuel Cells market in 2015. The top three manufacturers are Ballard Power Systems Inc. (BLDP) (market share of 17.36%), Toshiba (market share of 16.68%) and PLUG Power( market share of 11.93%) in 2015. The majority of large corporations are mainly concentrated in Japan and South Korea, and North America.

  • Panasonic
  • Plug Power
  • Toshiba ESS
  • Ballard
  • SinoHytec
  • Hydrogenics
  • Honda
  • Hyundai Mobis
  • Toyota Denso
  • Elring Klinger
  • Bosch/Powercell
  • Symbio

Hydrogen Fuel Cell Market Segments

Hydrogen Fuel Cell Market By Type

  • Air-cooled Type
  • Water-cooled Type

Hydrogen Fuel Cell Market By Application

  • Stationary
  • Transport
  • Portable

Hydrogen Fuel Cell Market Production By Region

  • United States
  • Europe
  • China
  • Japan
  • Other Regions

Hydrogen Fuel Cell Market Consumption By Region

  • North America
  • United States
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Philippines
  • Thailand
  • Vietnam
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Rest of Europe
  • Central & South America
  • Brazil
  • Rest of South America
  • Middle East & Africa
  • GCC Countries
  • Turkey
  • Egypt
  • South Africa
  • Rest of Middle East & Africa
Read More

TABLE OF CONTENT

 

Read More

LIST OF TABLES & FIGURES

 

Read More
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