Hydrogen Fuel Cell Stacks Market Size to Grow by USD 713.36 Mn| 56% of the growth to originate from Americas| Technavio
NEW YORK, April 8, 2022 /PRNewswire/ -- According to the research report, Hydrogen Fuel Cell Stacks Market will witness a YOY growth of 21.35% in 2022 at a CAGR of 22.30% during the forecast period. The report is segmented by application (transport, stationary, and portable) and geography (Americas, APAC, and EMEA). The increased incentives to encourage the use of FCVs is one of the primary reasons driving the worldwide hydrogen fuel cell stacks market growth.
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Vendor Insights
Hydrogen Fuel Cell Stacks Market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Advent Technologies Holdings Inc.
- Ballard Power Systems Inc.
- Cummins Inc.
- Freudenberg FST GmbH
- Horizon Fuel Cell Technologies Pte. Ltd.
- Nuvera Fuel Cells LLC
- Plug Power Inc.
- PowerCell Sweden AB
- Proton Power Systems plc
- Xinyuan Power Co. Ltd.
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Geographical Market Analysis
The Americas will account for 56 percent of market growth. In the Americas, the United States is the most important market for hydrogen fuel cell stacks. The market in this area will increase at a quicker rate than the market in APAC.
The huge increase in demand for hydrogen fuel cell stacks in countries such as the United States as a result of government initiatives and incentives will aid market expansion in the Americas throughout the forecast period.
Furthermore, countries such as the US, Japan, South Korea (Republic of Korea), China, and Germany are expected to emerge as prominent markets for Hydrogen Fuel Cell Stacks Market during the forecast period.
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Hydrogen Fuel Cell Stacks Market Value Chain Analysis
In order to optimize profit margins and evaluate company plans, an end-to-end understanding of the value chain is required. During the projected period, the data in our value chain analysis segment can assist vendors to reduce costs and improving customer service.
The value chain of the global renewable electricity market includes the following core components:
- Inputs
- Operations
- Distribution and logistics
- Marketing and sales
- Aftermarket and service
- Innovation
View FREE Sample: to know additional highlights and key points on value chain anlysis in coming years.
Key Market Drivers & Challenges:
The increased incentives to encourage the use of FCVs is one of the primary reasons driving the worldwide hydrogen fuel cell stacks market growth. Another significant trend that is predicted to have a favorable impact on the industry in the projected period is the increase in strategic alliances and R&D efforts. The high cost of fuel cell development and adoption, on the other hand, is one of the major roadblocks to the worldwide hydrogen fuel cell stacks market's growth.
Download free sample for highlights on market Drivers & Challenges affecting the Hydrogen Fuel Cell Stacks Market.
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Decentralized Energy Storage Market by Technology and Geography - Forecast and Analysis 2022-2026
Hydrogen Fuel Cell Stacks Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 22.30% |
Market growth 2022-2026 | $ 713.36 million |
Market structure | Fragmented |
YoY growth (%) | 21.35 |
Regional analysis | Americas, APAC, and EMEA |
Performing market contribution | Americas at 56% |
Key consumer countries | US, Japan, South Korea (Republic of Korea), China, and Germany |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | Advent Technologies Holdings Inc., Ballard Power Systems Inc., Cummins Inc., Freudenberg FST GmbH, Horizon Fuel Cell Technologies Pte. Ltd., Nuvera Fuel Cells LLC, Plug Power Inc., PowerCell Sweden AB, Proton Power Systems plc, and Xinyuan Power Co. Ltd. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent Market
Exhibit 08 Parent market
Exhibit 09: Market characteristics
2.2 Value Chain Analysis
Exhibit 10: Value Chain Analysis: Energy Storage
Inputs
Operations
Distribution and logistics
Marketing and sales
Aftermarket and service
Industry innovations:
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: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 - 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of the buyer
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of the supplier
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2021
5. Market Segmentation by Application
5.1 Market segments
Exhibit 22: Application Market share 2021 - 2026 (%)
5.2 Comparison by Application
Exhibit 23: Comparison by Application
5.3 Transport - Market size and forecast 2021-2026
Exhibit 24: Transport- Market size and forecast 2021-2026 ($ million)
Exhibit 25: Transport - Year-over-year growth 2021-2026 (%)
5.4 Stationary - Market size and forecast 2021-2026
Exhibit 26: Stationary - Market size and forecast 2021-2026 ($ million)
Exhibit 27:Stationary- Year-over-year growth 2021-2026 (%)
5.5 Portable - Market size and forecast 2021-2026
Exhibit 28: Portable - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Portable - Year-over-year growth 2021-2026 (%)
5.6 Market opportunity by Application
Exhibit 30: Market opportunity by Application
6. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
6.1 Overview
Exhibit 31: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 32: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 33: Geographic comparison
7.3 Americas - Market size and forecast 2021-2026
Exhibit 34: Americas - Market size and forecast 2021-2026($ million)
Exhibit 35: Americas - Year-over-year growth 2021-2026 (%)
7.4 APAC - Market size and forecast 2021-2026
Exhibit 36: APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 37: APAC - Year-over-year growth 2021-2026 (%)
7.5 EMEA - Market size and forecast 2021-2026
Exhibit 38: EMEA - Market size and forecast 2021-2026 ($ million)
Exhibit 39: EMEA - Year-over-year growth 2021-2026(%)
7.6 Key leading countries
Exhibit 40: Key leading countries
7.7 Market opportunity by geography
Exhibit 41: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Growing incentives to increase adoption of FCVs
8.1.2 Favorable government regulations and initiatives
8.1.3 Rising demand for clean energy sources
8.2 Market challenges
8.2.1 High cost of fuel cell development and adoption
8.2.2 Challenges associated with hydrogen refueling facilities
8.2.3 Competition from alternative technologies
Exhibit 42: Impact of drivers and challenges
8.3 Market trends
8.3.1 Rising strategic partnerships and R&D activities
8.3.2 Growing adoption in material handling applications
8.3.3 Increasing adoption of microgrids
9. Vendor Landscape
9.1 Overview
Exhibit 43: Vendor landscape
9.2 Landscape disruption
Exhibit 44: Landscape disruption
Exhibit 45: Industry Risk
9.3 Competitive Scenario
10. Vendor Analysis
10.1 Vendors covered
Exhibit 46: Vendors covered
10.2 Market positioning of vendors
Exhibit 47: ?Market positioning of vendors?
10.3 Advent Technologies Holdings Inc.
Exhibit 48: Advent Technologies Holdings Inc. - Overview
Exhibit 49: Advent Technologies Holdings Inc. - Product and service
Exhibit 50: Advent Technologies Holdings Inc. - Key offerings
10.4 Ballard Power Systems Inc.
Exhibit 51: Ballard Power Systems Inc. - Overview
Exhibit 52: Ballard Power Systems Inc. - Business segments
Exhibit 53: Ballard Power Systems Inc. - Key offerings
Exhibit 54: Ballard Power Systems Inc. - Segment focus
10.5 Cummins Inc.
Exhibit 55: Cummins Inc. - Overview
Exhibit 56: Cummins Inc. - Business segments
Exhibit 57: Cummins Inc. - Key offerings
Exhibit 58: Cummins Inc. - Segment focus
10.6 Freudenberg FST GmbH
Exhibit 59: Freudenberg FST GmbH - Overview
Exhibit 60: Freudenberg FST GmbH - Product and service
Exhibit 61: Freudenberg FST GmbH - Key offerings
10.7 Horizon Fuel Cell Technologies Pte. Ltd.
Exhibit 62: Horizon Fuel Cell Technologies Pte. Ltd. - Overview
Exhibit 63: Horizon Fuel Cell Technologies Pte. Ltd. - Product and service
Exhibit 64: Horizon Fuel Cell Technologies Pte. Ltd. - Key offerings
10.8 Nuvera Fuel Cells LLC
Exhibit 65: Nuvera Fuel Cells LLC - Overview
Exhibit 66: Nuvera Fuel Cells LLC - Product and service
Exhibit 67: Nuvera Fuel Cells LLC - Key offerings
10.9 Plug Power Inc.
Exhibit 68: Plug Power Inc. - Overview
Exhibit 69: Plug Power Inc. - Product and service
Exhibit 70: Plug Power Inc. - Key offerings
10.10 PowerCell Sweden AB
Exhibit 71: PowerCell Sweden AB - Overview
Exhibit 72: PowerCell Sweden AB - Product and service
Exhibit 73: PowerCell Sweden AB - Key offerings
10.11 Proton Power Systems plc
Exhibit 74: Proton Power Systems plc - Overview
Exhibit 75: Proton Power Systems plc - Product and service
Exhibit 76: Proton Power Systems plc - Key offerings
10.12 Xinyuan Power Co. Ltd.
Exhibit 77: Xinyuan Power Co. Ltd. - Overview
Exhibit 78: Xinyuan Power Co. Ltd. - Product and service
Exhibit 79: Xinyuan Power Co. Ltd. - Key offerings
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 80: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 81: Research Methodology
Exhibit 82: Validation techniques employed for market sizing
Exhibit 83: Information sources
11.4 List of abbreviations
Exhibit 84: List of abbreviations
About Us:
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
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