Global Fuel Cells Market Trajectory & Analytics, 2021-2027 - Developing Economies Emerge as Promising Regions for Fuel Cell Adoption
Dublin, May 20, 2021 (GLOBE NEWSWIRE) -- The "Fuel Cells - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Fuel Cells is projected to reach US$14.6 billion by 2027, driven by the technology's very vital role in helping build a clean and sustainable world for future generations.
The market is expected to stage a quick recovery from the COVID-19 pandemic and the resulting recession largely due to the fact that a clean and sustainable world also means a pandemic-free world.
A large portion of rebuilding efforts will be directed towards building a different economy. An economy that will be more cleaner, sustainable and disease-free. Economic stimulus packages will be directed at the environment creating a real opportunity for sustainable energy technologies. Fuel Cell is a technology that takes on climate change head-on by eliminating pollution caused by burning fossil fuels.
A fuel cell features an electrochemical energy conversion mechanism that converts hydrogen and oxygen into electricity and heat. A fuel cell is similar to a battery in that it can be recharged while power is being drawn from it. But, a fuel cell is recharged using hydrogen and oxygen, instead of electricity as in the case of a battery. The basic system includes two electrodes, an anode and a cathode, divided by an electrolyte.
The process of formation of ions (charged particles) at one end of electrodes with the help of a catalyst, which are then passed via the electrolyte, causes production of power electrochemically. This power can be used for generating electricity. A fuel cell uses chemical reactions instead of combustion process.
Fuel cell is basically small and modular in nature, which makes it perfect for use as power source in various applications ranging from electric vehicles to grid-connected utility power units Fuel cell technology, with its ability to replace traditional power generating technologies based on combustion methods for stationary and mobile applications, is being promoted as a new clean and green power generation approach.
In an era characterized by rising concerns over greenhouse gases, carbon footprint and climate change, the technology is steadily gaining popularity by virtue of its ability to reduce emissions of greenhouse gases, toxic pollutants and reliance on imported fuels, and also enhance global energy security. Depleting stocks and rising costs of fossil fuels are triggering concerns over how the world would address future fuel needs in industrial and transportation applications. Multi-fuel fuel cells have lower nitrogen and Sulphur emissions.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Fuel Cells: An Introduction
Classification of Fuel Cells
Major Applications of Fuel Cells
Fuel Cells: Clean, Efficient, Reliable and Eco-friendly Alternative to Conventional Petroleum-based Fuels
Fuel Cells Market: Prospects and Outlook
Major Market Drivers & Restraints
Government Subsidies to Promote Fuel Cell Technology
Increasing Adoption of EVs and Hybrid Vehicles
Strong Focus on Alternative Energy Sources
Potential for Use in Distributed Generation Applications
Increasing Popularity of Hydrogen Fuel
Stationary & PEM Fuel Cells and Fuel Cell Vehicles to Post Solid Growth
Polymer Electrolyte Membrane Fuel Cell Dominates Fuel Cells Market
Stationary and Transport Applications Lead the Fuel Cells Market
Clean Energy Focus Drives Use of Fuel Cells in Transportation Sector
Developed Economies at the Forefront of Innovation and Adoption of Fuel Cells-based Applications
Developing Economies Emerge as Promising Regions for Fuel Cell Adoption
Cost Reductions to Benefit Market Growth
Fuel Cell Capacity Continues to Grow at a Steady Pace
Covid-19 Impact: A Review
Competitive Landscape
A Fairly Competitive Market
Participants Focus on Product Innovation and Expansion to Gain Competitive Edge
Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 66 Featured):
AFC Energy Plc
Air Liquide S.A.
Ballard Power Systems, Inc.
Bloom Energy Corporation
Ceres Power Holdings plc
Doosan Fuel Cell America, Inc.
FuelCell Energy, Inc.
Horizon Fuel Cell Technologies Pte Ltd.
Hydrogenics Corporation
ITM Power Plc
Loop Energy
Mitsubishi Heavy Industries Ltd.
Mitsubishi Hitachi Power Systems, Ltd.
Nuvera Fuel Cells, LLC
Plug Power Inc.
Proton OnSite
SFC Energy AG
Siemens Industry, Inc.
Teledyne Energy Systems, Inc.
UltraCell LLC
3. MARKET TRENDS & DRIVERS
Visions of an All-Hydrogen Economy Drives Interest in Fuel Cells
Government Support Critical for Promoting Adoption of Fuel Cell Technology
Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
Efforts to Promote Green Energy and Infrastructure Development Boost Hydrogen Fuel Cells Market
Auto Industry Banks on Fuel Cells as a Sustainable Fuel Technology of the Future
Hydrogen FCEVs Combat GHG Emissions
Hydrogen Refueling Infrastructure: Critical for the Success of FCVs
High Costs: The Achilles Heel of Hydrogen Fuel cells
Deployments of Fuel Cell Electric Bus (FCEB) Continue to Gain Momentum
Growing Need to Reduce Emissions Kindles Efforts to Commercialize Fuel Cell Heavy Trucks
Focus on Enhancing Durability and Lowering Cost of Fuel Cells Increases
Competition
Hydrogen Fuel Cells for Motorbikes: An Opportunity to Tap
Fuel Cells Find Niche Applications in 2-Stroke Engine Motorcycles
Fuel Cell-Powered Trains and Trams: Tremendous Potential for Fuel Cell Industry
Material Handling: The Most Successful Vehicle Application of Fuel Cells
Marine Sector: A Nascent yet Promising Application of Fuel Cells
Need for Alternative Propulsion Solutions Drives Demand for Fuel Cells in Marine Vessels Market
Expanding Applications in the Military Sector Augur Well for the Market
A Glance at Use of Fuel Cell Systems in Select Military Applications
Strong Demand for Portable Electronic Devices to Spur Opportunities for Portable Fuel Cells
Environmental Benefits Drive Adoption of Fuel Cells in the Power Sector
Rising Investments in Distributed Renewable Energy Generation Enhances Prospects for Fuel Cells
Fuel Cells to Provide Backup Power in Industrial Settings
Fuel Cells Operating at Mid-Range Temperature to Benefit Renewable Power
Aircraft Manufacturers Take a Closer Look at Fuel-Efficient and Eco-Friendly Fuel Cells
Fuel Cells for Data Center Market to Witness Notable Expansion
Fuel Cell Electrolyte Market to Gain from Rising Adoption of Fuel Cells
Market to See Rise in Shipments of Fuel Cell APUs
Stationary Fuel Cells Market: An Overview
Telecom Industry Moving towards Stationary Fuel Cells for Backup Power
Stationary Fuel Cells Gather Steam in Backup and UPS Stationary Applications
Residential Sector Drives Demand for Stationary Fuel Cells
Stationary and Distributed Energy Applications Garner Attention
MFCs Technology: Promising Source of Alternative Power
Technological Benefits Continue to Propel Micro Fuel Cells Market
Direct Methanol Fuel Cell Preferred Choice for Portable Devices
Broader Adoption in Key Applications Fuels PEM Fuel Cells Market
Alkaline Fuel Cell Market Heading for Massive Gains
SOFCs: A Technology of Interest to the Developed Countries
Key Applications of SOFCs
SOFCs Gather Momentum in Stationary Cogeneration/CHP Deployments
SOFCs: Ideal for Distributed Power Generation
Technological Developments Widen Scope of Applications for SOFCs
Planar Solid Oxide Fuel Cell Market: An Overview
Technology Innovations and Research Efforts in Fuel Cell Market - A Review of Select Developments
Innovative Fuel Cell Technology to Improve Carbon Fuel Utilization in DCFCs
Self-Healing Membrane to Potentially Extend Hydrogen Fuel Cells' Life
Researchers Develop Pajarito Powder for Hydrogen Fuel Cells
New Nanomaterial to Allow Cost-Efficient Production of Hydrogen for Fuel Cell Cars
Researchers at NETL Develop Innovative Method to Improve SOFC Performance
Advances in Nanotechnology Enables More Efficient Fuel Cell Applications
Raw Material Prices: A Review
Important Materials Used in Fuel Cells and Batteries
Challenges in Fuel Cell Commercialization
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
Market Overview
US and Japan Collaborate for Research on Hydrogen Fuel Cells in Transport Sector
Unreliability of Power Grid Turns Focus onto Fuel Cells
Small Fuel Cell Sector Solidifies Presence in Market
Residential Sector Drives Stationary Fuel Cell Industry
Innovation in Mobile Technology Fuels Micro Cell Advancement
Distributed Power and Cogeneration Promise Opportunities
Government Adoption of Fuel Cell Technology to Give a Boost to the Market
Incentives to Propel Adoption of Fuel Cell Technology
Government's Vital Role in Promoting a Hydrogen Economy
CANADA
Market Overview
Investments Strengthens Hydrogen Fuel Cell Sector in Western Canada
Fuel Cell Programs
JAPAN
Market Overview
Japan's Vision of a Hydrogen Society Bodes Well for Fuel cells, Driving Growth in Hydrogen Generators Market
Japan to Double Hydrogen Filling Stations
Households Offer Huge Growth for Fuel Cells
Fuel Cells Ideal for Advanced Military Applications
Mobile Applications to Fuel Growth
CHINA
A Promising Market for Fuel Cells-based Applications
Transportation: The Major Application Segment for Fuel Cells
Hydrogen Fuel cells Market in China: An Overview
EUROPE
Europe: A Major Market for Fuel Cells
COVID-19 Outbreak to Curtail Market Expansion in the Near-Term
A Review of the European SOFCs Market
Stationary SOFC Systems on the Upward Trajectory
FCH JU Projects Foster Fuel Cell Micro CHP Installations
FRANCE
Market Overview
GERMANY
Germany: A Technology Leader in Hydrogen and Fuel Cells
Favorable Policies and R&D Initiatives Accelerate Fuel Cell Adoption in Germany
Germany Rolls Out Fuel Cells-Powered Train
ITALY
UNITED KINGDOM
Hydrogen and Fuel Cells: Growth Opportunities in the UK
Government Funding Programs for Hydrogen Vehicles and Infrastructure
SPAIN
RUSSIA
REST OF EUROPE
Finland: Potential for Fuel Cell Technology in Energy Sector
ASIA-PACIFIC
Asia-Pacific Fuel Cell Sector to Witness Significant Growth
SOUTH KOREA
South Korea: A Key Adopter of Fuel Cells
REST OF ASIA-PACIFIC
Taiwan: A Potential Market for Fuel Cells
Opportunities for OEMs
Transportation: Another Segment Offering Huge Potential
Southeast Asia
Southeast Asia Fuel Cells Market: Limitations in Power Generation
Biomass Power Generation Poses Direct Competition to Fuel Cells Market
Concentration on Various Renewable Technologies Hinders Fuel Cells Development
Over-Priced Fuel Cells Technology Restrains Commercialization
Inconsistent Regulations Curtail Development of Fuel Cells Technology
LATIN AMERICA
REST OF WORLD
South Africa: Hydrogen to Light up Remote South African Communities
IV. COMPETITION
Total Companies Profiled: 66
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