Fuel Cell Market to Reach $32.0 Bn, Globally, by 2030 at 19.4% CAGR: Allied Market Research

News provided by

Apr 19, 2022, 09:40 ET

Increasing applications of fuel cell in the transport sector, such as in cars and buses drives the growth of the global fuel cell market.

PORTLAND, Ore., April 19, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Fuel Cell Market by Application (Portable, Stationary, Transport), by Product Type (Solid Oxide Fuel Cell (SOFC), Proton Exchange Membrane Fuel Cell (PEMFC), Molten Carbonate Fuel Cell (MCFC), Phosphoric Acid Fuel Cell (PAFC), Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global fuel cell industry was estimated at $3.6 billion in 2020, and is anticipated to hit $32.0 billion by 2030, registering a CAGR of 19.4% from 2021 to 2030.

Drivers, restraints, and opportunities-

Increasing applications of fuel cell in the transport sector, such as in cars and buses drives the growth of the global fuel cell market. On the other hand, high price of catalyst used in it, which raises the price of fuel cell restrains the growth to some extent. However, growing demand for portable devices, stringent government regulations aimed at reducing the increasing pollution levels, and enhanced efficiency of fuel cell are expected to create lucrative opportunities in the industry.

Download Sample PDF (250 Pages PDF with Insights): https://www.alliedmarketresearch.com/request-sample/137

Covid-19 scenario-

The outbreak of the pandemic affected a number of industries and gave way to huge imbalance in the supply-demand chain, which in turn, decreased the demand for fuel cell, thereby impacting the global fuel cell market negatively, especially during the initial phase.
However, the market is anticipated to get back on track soon.

The Proton Exchange Membrane Fuel Cell (PEMFC) segment to dominate by 2030-

Based on product type, the Proton Exchange Membrane Fuel Cell (PEMFC) segment accounted for more than two-thirds of the global fuel cell market share in 2020, and is anticipated to rule the roost by 2030. The same segment would also cite the fastest CAGR of 19.6% throughout the forecast period, due to rise in demand for clean power generation and increasing dependence on fuel cell-based transport applications.

Get detailed COVID-19 impact analysis on the Fuel Cell Market: https://www.alliedmarketresearch.com/request-for-customization/137?reqfor=covid

The stationary segment to maintain the dominant share-

Based on application, the stationary segment held nearly three-fourths of the global fuel cell market revenue in 2020, and is expected to lead the trail by 2030. Increase in demand for fuel cells from distributed generation facilities drives the segment growth. The transport segment, on the other hand, would manifest the fastest CAGR of 19.6% from 2020 to 2030, owing to rise in demand for fuel cells for providing clean and reliable transportation across the world.

Asia-Pacific, followed by North America, garnered the major share in 2020-

Based on region, Asia-Pacific, followed by North America, held the major share in 2020, generating more than two-thirds of the global fuel cell market. The same region would also grow at the fastest CAGR of 19.7% by 2030. This is attributed to integration of renewable energy with main grid and rapid growth of transportation sector in the province.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/137

Key players in the industry-

BALLARD POWER SYSTEMS INC.
PLUG POWER INC.
Ceres Power Holdings Plc
Nuvera Fuel Cells, LLC
Intelligent Energy
FUEL CELL ENERGY INC.
SFC ENERGY
Bloom Energy
Doosan Fuel Cell America, Inc
Nedstack Fuel Cell Technology B.V.

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/fuel-cell-market/purchase-options

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenueTrial

Similar Reports We Have:

Distributed energy generation market is forecasted to reach $919.6 billion by 2030, growing at a CAGR of 14.2% from 2021 to 2030.

Hydrogen energy storage market is projected to reach $25.4 billion by 2027, growing at a CAGR of 6.5% from 2020 to 2027.

Green Hydrogen Market is projected to reach $9.8 billion by 2028, growing at a CAGR of 54.7% from 2021 to 2028.

Composite Cylinder Market is anticipated to reach $1.2 billion by 2030, with a CAGR of 4.1% from 2021 to 2030.

Brown Hydrogen Market is projected to reach $48.9 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030.

Lithium-Ion Battery Market is projected to hit $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027.

Carbon Capture, Utilization, and Storage Market is projected to reach $7.0 billion by 2030, growing at a CAGR of 13.8% from 2021 to 2030.

Lithium-Ion Battery Recycling Market is expected to reach $38.21billion by 2030, registering a CAGR of 36.0% from 2021to 2030.

Hydrogen Generator Market is expected to reach $2.2 billion by 2030, growing at a CAGR of 5.8% from 2021 to 2030.

Pre-Book Now with 10% Discount:

Fuel cell bipolar plate Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Fuel Cell Balance of Plant (BOP) Market: Opportunity Analysis and Industry Forecast, 2021-2030

Regenerative Fuel Cell Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Fuel Cell Technology Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Proton Exchange Membrane Fuel Cell Market: Global Analysis and Industry Forecast, 2021-2030

Electric Transmission and Distribution Equipment Market: Global Market Trends and Opportunities, 2021–2030

Stationary Fuel Cell Market: Global Opportunity Analysis and Industry Forecast 2020-2027

Solid Oxide Fuel Cell Market: Global Opportunity Analysis and Industry Forecast, 2020 - 2027

Aircraft Fuel Cells Market: Global Opportunity Analysis and Industry Forecast, 2020–2028

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter