Fuel Cell Market For Prime Power to record USD 177.71 Mn growth; Driven by supportive government policies for adoption of fuel cells -- Technavio Research Reports

NEW YORK, Oct. 31, 2022 /PRNewswire/ -- The "Fuel Cell Market For Prime Power by Product (PEMFC, PAFC, SOFC, and Others) and Geography (APAC, North America, Europe, Middle East and Africa, and South America) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the fuel cell market for prime power between 2021 and 2026 is USD 177.71 million. To get the exact yearly growth variance and the Y-O-Y growth rate, Request a Free PDF Sample Report.

• Market Driver: The market is driven by supportive government policies for the adoption of fuel cells. The demand for clean technologies such as fuel cells is increasing as countries are adopting new technologies to reduce their dependence on fossil fuels. Fuel cells can efficiently generate electricity and thermal heat. As distributed generation systems, they can partially supplement the grid needs and reduce the load on the grid. Therefore, owing to these benefits of fuel cells, governments are providing funding and incentives to increase their adoption. In addition, governments of several countries are providing funding and incentives to promote R&D and the adoption of fuel cells. All these factors are fostering the growth of the market in focus.
• Market Challenges: The high cost of fuel cells will challenge the growth of the market. Cost is the primary factor affecting the acceptance of fuel cell technology. It is expensive when compared with alternative technologies such as gas generators and lithium-ion batteries. Fuel cells for commercial and industrial locations were developed during the 1990s. However, they have not been able to penetrate the market due to low end-user acceptance compared with other technologies like batteries.

Learn about additional key drivers, trends, and challenges available with Technavio. Download a Free PDF Sample Report

By product, the PEMFC segment will be a significant contributor to market growth during the forecast period. PEMFCs are preferred among end-users owing to their higher efficiency and reliability. Governments are subsidizing fuel cell systems and making them eligible for feed-in tariffs, like India adopting renewable energy subsidies for emerging technologies and grid balancing. This is driving the installation of PEMFC in the residential and commercial building sectors. In addition, the development of zero energy buildings will further drive the adoption of PEMFC.

By geography, APAC will be the leading region with 39% of the market's growth during the forecast period. The advances in technology and increasing investment in fuel cell technology are the major factors driving the use of fuel cells for prime power in the region. In addition, the development of zero energy homes and buildings will contribute to the growth of the regional market during the forecast period. South Korea, Japan, and China are the key markets in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Get lifetime access to our Technavio Insights! Subscribe to our Basic Plan billed annually at USD 5,000

• AFC Energy PLC
• Ballard Power Systems Inc.
• Bloom Energy Corp.
• Ceres Power Holdings plc
• Convion Ltd.
• Cummins Inc.
• Doosan Corp.
• EBZ SE
• EnergyOr Technologies Inc.
• FuelCell Energy Inc.
• Fuji Electric Co. Ltd.
• GenCell Ltd.
• Kyocera Corp.
• Linde Plc
• Mitsubishi Heavy Industries Ltd.
• Plug Power Inc.
• PowerCell Sweden AB
• SFC Energy AG
• SolidPower Spa
• TW Horizon Fuel Cell Technologies
• Gain access to more vendor profiles with their key offerings available with Technavio. Buy Full Report Now

Secondary Battery Market by Technology and Geography - Forecast and Analysis 2022-2026: The decline in lithium-ion battery costs is notably driving the secondary battery market growth. Lithium-ion batteries offer several advantages, such as higher current density, longer power-holding capacity, and longer shelf life than other battery chemistries. Such benefits make them preferred among end-users.

Fuel Cell Market by Product, Application, and Geography - Forecast and Analysis 2022-2026: The market is driven by the growing demand for efficient and clean energy sources. The adoption of cleaner and more efficient power sources is increasing to mitigate climate change amid the growing environmental concerns. Fuel cells have emerged as an efficient and reliable alternate technology for electricity generation, heating, and other prime power applications.

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 24: Chart on Product - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product - Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 PEMFC - Market size and forecast 2021-2026
• Exhibit 28: Chart on PEMFC - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on PEMFC - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on PEMFC - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on PEMFC - Year-over-year growth 2021-2026 (%)

• 5.4 PAFC - Market size and forecast 2021-2026
• Exhibit 32: Chart on PAFC - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on PAFC - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on PAFC - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on PAFC - Year-over-year growth 2021-2026 (%)

• 5.5 SOFC - Market size and forecast 2021-2026
• Exhibit 36: Chart on SOFC - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on SOFC - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on SOFC - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on SOFC - Year-over-year growth 2021-2026 (%)

• 5.6 Others - Market size and forecast 2021-2026
• Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by Product 
• Exhibit 44: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 North America - Market size and forecast 2021-2026
• Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 South Korea - Market size and forecast 2021-2026
• Exhibit 74: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on South Korea - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on South Korea - Year-over-year growth 2021-2026 (%)

• 7.10 Japan - Market size and forecast 2021-2026
• Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.11 Germany - Market size and forecast 2021-2026
• Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.12 China - Market size and forecast 2021-2026
• Exhibit 86: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Ballard Power Systems Inc. 
• Exhibit 97: Ballard Power Systems Inc. - Overview
• Exhibit 98: Ballard Power Systems Inc. - Business segments
• Exhibit 99: Ballard Power Systems Inc. - Key news
• Exhibit 100: Ballard Power Systems Inc. - Key offerings
• Exhibit 101: Ballard Power Systems Inc. - Segment focus

• 10.4 Bloom Energy Corp. 
• Exhibit 102: Bloom Energy Corp. - Overview
• Exhibit 103: Bloom Energy Corp. - Product / Service
• Exhibit 104: Bloom Energy Corp. - Key news
• Exhibit 105: Bloom Energy Corp. - Key offerings

• 10.5 Ceres Power Holdings plc 
• Exhibit 106: Ceres Power Holdings plc - Overview
• Exhibit 107: Ceres Power Holdings plc - Business segments
• Exhibit 108: Ceres Power Holdings plc - Key news
• Exhibit 109: Ceres Power Holdings plc - Key offerings
• Exhibit 110: Ceres Power Holdings plc - Segment focus

• 10.6 Doosan Corp. 
• Exhibit 111: Doosan Corp. - Overview
• Exhibit 112: Doosan Corp. - Business segments
• Exhibit 113: Doosan Corp. - Key news
• Exhibit 114: Doosan Corp. - Key offerings
• Exhibit 115: Doosan Corp. - Segment focus

• 10.7 FuelCell Energy Inc. 
• Exhibit 116: FuelCell Energy Inc. - Overview
• Exhibit 117: FuelCell Energy Inc. - Business segments
• Exhibit 118: FuelCell Energy Inc. - Key offerings
• Exhibit 119: FuelCell Energy Inc. - Segment focus

• 10.8 Fuji Electric Co. Ltd. 
• Exhibit 120: Fuji Electric Co. Ltd. - Overview
• Exhibit 121: Fuji Electric Co. Ltd. - Business segments
• Exhibit 122: Fuji Electric Co. Ltd. - Key offerings
• Exhibit 123: Fuji Electric Co. Ltd. - Segment focus

• 10.9 Linde Plc 
• Exhibit 124: Linde Plc - Overview
• Exhibit 125: Linde Plc - Business segments
• Exhibit 126: Linde Plc - Key news
• Exhibit 127: Linde Plc - Key offerings
• Exhibit 128: Linde Plc - Segment focus

• 10.10 Mitsubishi Heavy Industries Ltd. 
• Exhibit 129: Mitsubishi Heavy Industries Ltd. - Overview
• Exhibit 130: Mitsubishi Heavy Industries Ltd. - Business segments
• Exhibit 131: Mitsubishi Heavy Industries Ltd. - Key news
• Exhibit 132: Mitsubishi Heavy Industries Ltd. - Key offerings
• Exhibit 133: Mitsubishi Heavy Industries Ltd. - Segment focus

• 10.11 Plug Power Inc. 
• Exhibit 134: Plug Power Inc. - Overview
• Exhibit 135: Plug Power Inc. - Product / Service
• Exhibit 136: Plug Power Inc. - Key offerings

• 10.12 SolidPower Spa 
• Exhibit 137: SolidPower Spa - Overview
• Exhibit 138: SolidPower Spa - Product / Service
• Exhibit 139: SolidPower Spa - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 140: Inclusions checklist
• Exhibit 141: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 142: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 143: Research methodology
• Exhibit 144: Validation techniques employed for market sizing
• Exhibit 145: Information sources

• 11.5 List of abbreviations 
• Exhibit 146: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/

SOURCE Technavio