$41 Billion Worldwide Fuel Cell Industry to 2031 - Players Include Ballard Power Systems, Bloom Energy, Ceres Power Holdings, Cummins and Doosan Fuel Cell America - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Fuel Cell Market 2021-2031 by Product, Capacity, Application, End User, and Region: Trend Forecast and Growth Opportunity" report has been added to ResearchAndMarkets.com's offering.

The global fuel cell market will reach $41,143.1 million by 2031, growing by 21% annually over 2021-2031 driven by the increasing need for clean power generation, stringent norms on greenhouse gas (GHG) emission across the globe, increasing R&D grants and government incentives, and the mounting environmental concerns and expanding urbanization.

This report is based on comprehensive research of the entire global fuel cell market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter's Five Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global fuel cell market in every aspect of the classification from perspectives of Product, Capacity, Application, End User, and Region.

Based on Product, the global market is segmented into the following sub-markets with annual revenue ($ mn), capacity (MW), and volume (units) for 2021-2031 included in each section.

• Proton Exchange Membrane Fuel Cell (PEMFC)
• Phosphoric Acid Fuel Cell (PAFC)
• Solid Oxide Fuel Cell (SOFC)
• Molten Carbonate Fuel Cell (MCFC)
• Direct Methanol Fuel Cell (DMFC)
• Alkaline Fuel Cell (AFC)
• Other Fuel Cells

Based on Capacity, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Small Scale (Up to 200 Kw)
• Large Scale (Above 200 Kw)

By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn), capacity (MW), and volume (units) for 2021-2031 included in each section.

• Stationary
• Transportation
• Portable

By End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Transportation
• Utilities & Government/Municipal Institutes
• Residential
• Commercial & Industrial
• Data Centers
• Military & Defense

Geographically, the following regions together with the listed national/local markets are fully investigated:

• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Israel, Saudi Arabia, South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Product, Capacity and Application over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

• Ballard Power Systems Inc.
• Bloom Energy Corp.
• Ceres Power Holdings PLC
• Cummins Inc.
• Doosan Fuel Cell America, Inc.
• FuelCell Energy Inc.
• Horizon Fuel Cell Technologies Pte. Ltd.
• Hydrogenics Corporation
• Intelligent Energy Limited
• Mitsubishi Hitachi Power Systems Ltd.
• Nedstack Fuel Cell Technology BV
• Nuvera Fuel Cells Inc. (Nuvera Fuel Cells LLC)
• Panasonic Corporation
• Plug Power Inc.
• PowerCell Sweden AB
• SFC Energy AG
• Toshiba Energy Systems & Solutions Corporation

For more information about this report visit https://www.researchandmarkets.com/r/8e3o49