During the forecast period, the fuel cells market is projected to grow at a CAGR of 28.21%, reaching US$13.830 billion by 2023, from US$3.114 billion in 2017.
North America and Europe hold the largest share in the global market while the market in the Asia Pacific is expected to witness the highest growth rate over the next six years.
Fuel cells convert chemical energy from a fuel into electricity with the help of a chemical reaction. Low-temperature fuel cells include Proton Exchange Membrane Fuel Cell (PEMDC), Direct Methanol Fuel Cell (DFMC) and Alkaline Fuel Cell. (AFC), while high-temperature fuel cells include Phosphoric Acid Fuel Cell (PAFC), Molten Carbonate Fuel Cells( MCFC), and Solid Oxide Fuel Cells (SOFC).
The growing trend towards the generation of renewable energy, global initiatives towards collective environmental responsibly and growing awareness regarding clean energy are some of the factors driving the fuel cells market significantly.
This section explains the entire market along with various drivers, restraints, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth. Complete industry analysis has also been covered by Porter's five forces model as a part of this report section.
The competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players in the Fuel Cells market are Ballard Power Systems, FuelCell Energy, Inc., Hydrogenics, and Plug Power Inc. among others.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Fuel Cells Market Forecast By Type (US$ billions)
5.1. Low-Temperature Fuel Cells
5.1.1. Proton Exchange Membrane or Solid Polymer Membrane Fuel Cell (PEMFC)
5.1.2. Direct-methanol fuel cell (DMFC)
5.1.3. Alkaline Fuel Cell (AFC)
5.2. High-Temperature Fuel Cells
5.2.1. Phosphoric Acid Fuel Cell (PAFC)
5.2.2. Molten Carbonate Fuel Cell (MCFC)
5.2.3. Solid Oxide Fuel Cell (SOFC)
6. Fuel Cells Market Forecast By Application (US$ billions)
6.1. Stationary Power
6.2. Portable Power
7. Fuel Cells Market By Geography (US$ billions)
7.2. Europe Middle East and Africa
7.3. Asia Pacific
8. Competitive Intelligence
8.1. Market Share Analysis
8.2. Investment Analysis
8.3. Recent Deals
8.4. Strategies of Key Players
9. Company Profiles
- Ballard Power Systems
- FuelCell Energy, Inc.
- PLUG POWER INC
- Ceres Power Holdings plc
- AFC Energy PLC
- NUVERA FUEL CELLS, LLC
- Arcola Energy Limited
For more information about this report visit https://www.researchandmarkets.com/research/r8xw4n/global_fuel_cells?w=4