DUBLIN--(BUSINESS WIRE)--The "Fuel Cell Market: Global Industry Trends, Size, Share, Growth, Opportunities and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global fuel cell market reached a value of US$ 4.5 Billion in 2018.
A fuel cell refers to an electrochemical cell which converts the chemical energy from a fuel to electricity. The major components of a fuel cell include anode, cathode and electrolyte. Some of the advantages offered by fuel cells are energy-efficiency, high operating time, ease of maintenance, etc. Apart from this, they are environment-friendly in nature as they prevent production of air pollutants or greenhouse gases. Owing to this, they are used to provide power to vehicles like forklifts, automobiles, buses, boats, motorcycles, etc.
Various initiatives and favourable policies by governments supporting the use of sustainable energy substitutes represents one of the major factors catalysing the growth of the global fuel cell market. Moreover, as fuel cells do not require conventional fuels such as oil or gas, it reduces economic dependence on oil producing countries, thereby broadening the growth prospects of the market. Other growth inducing factors include technological advancements, constant depletion of fossil fuels and rising awareness about the benefits of fuel cells.
Looking forward, the market value is projected to reach a value US$ 9.5 Billion by 2024, registering a CAGR of 13.2% during 2019-2024.
- Based on the type, the market has been segmented as proton exchange membrane fuel cells, solid oxide fuel cells, molten carbonate fuel cells, direct methanol fuel cells, phosphoric acid fuel cells and others. Proton exchange membrane fuel cells currently account for the highest market share.
- On the basis of application, stationary represents the largest segment, followed by transportation, portable and others.
- Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market.
Key Questions Answered in This Report:
- How has the global fuel cell market performed so far and how will it perform in the coming years?
- What are the key regions in the global fuel cell market?
- Which are the popular product types in the global fuel cell market?
- What are the key application segments in the global fuel cell market?
- What are the various stages in the value chain of the global fuel cell market?
- What are the key driving factors and challenges in the global fuel cell market?
- What is the structure of the global fuel cell market and who are the key players?
- What is the degree of competition in the global fuel cell market?
- How are fuel cells manufactured?
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Fuel Cell Market
5.1 Market Overview
5.2 Market Performance
5.3 Price Analysis
5.3.1 Key Price Indicators
5.3.2 Price Structure
5.3.3 Margin Analysis
5.4 Market Breakup by Type
5.5 Market Breakup by Application
5.6 Market Breakup by Region
5.7 Market Forecast
5.8 SWOT Analysis
5.9 Value Chain Analysis
5.9.2 Research and Development
5.9.3 Raw Material Procurement
5.10 Porters Five Forces Analysis
6 Market Breakup by Type
6.1 Proton Exchange Membrane Fuel Cells (PEMFC)
6.2 Solid Oxide Fuel Cells (SOFC)
6.3 Molten Carbonate Fuel Cells (MCFC)
6.4 Direct Methanol Fuel Cells (DMFC)
6.5 Phosphoric Acid Fuel Cells (PAFC)
7 Market Breakup by Application
8 Market Breakup by Region
9 Fuel Cell Manufacturing Process
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 Ballard Power Systems Inc.
10.3.2 Bloom Energy Corporation
10.3.3 Toshiba Fuel Cell Power Systems Corporation
10.3.4 FuelCell Energy Inc
10.3.5 Plug Power Inc
10.3.6 Nuvera Fuel Cells Inc
10.3.7 AFC Energy plc
10.3.8 SFC Energy AG
10.3.9 Mitsubishi Hitachi Power Systems, Ltd.
10.3.10 Panasonic Corporation
10.3.11 Intelligent Energy Limited
10.3.12 Doosan Fuel Cell America Inc.
For more information about this report visit https://www.researchandmarkets.com/r/6a9bwk