Residential Fuel Cell Market -- APAC to account for 42% global market share

NEW YORK, Sept. 15, 2022 /PRNewswire/ -- The "Residential Fuel Cell Market by Product and Geography - 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 residential fuel cell market between 2021 and 2026 is 620.35 MW. The market is expected to observe a YOY growth of 19.46% in 2022 and the growth momentum is anticipated to accelerate at a CAGR of 20.22% during the forecast period. The report considers various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download PDF Sample Report

• Market Driver
• Market Challenges

The growing demand for efficient and cleaner technologies is one of the key growth drivers in the market. The rise in population and urbanization have increased the demand for power globally. Currently, most of the global power demand is met by fossil fuels, which is the major contributor of global warming. These factors have encouraged the adoption of greener and cleaner alternative ways of generating power. Fuel cells are considered an extremely reliable and efficient technology. They produce energy through an electrochemical reaction and do not involve any combustion for the conversion of fuel. Thus, with the increasing demand for efficient and cleaner technologies, the demand for residential fuel cells is expected to increase during the forecast period.

However, the competition from alternative technologies will challenge market growth. Many regional and international players offering fuel cells are facing stiff competition from alternative technologies such as microturbines, backup generators, energy storage systems providers, and renewable energy system providers. These technologies are already popular among end-users in the market. This is hindering the wider acceptance of fuel cells in the market.

Learn about additional key drivers, trends, and challenges impacting the market growth by purchasing our full report. Read Sample Report Before Purchasing

The residential fuel cell market report is segmented by product (PEMFC and SOFC) and geography (North America, APAC, Europe, South America, and MEA). 

By product, the market will observe significant growth in the PEMFC segment during the forecast period. The segment is driven by benefits offered by PEMFCs such as fast start-up time, low operating temperature, compactness, sustainable operations in high energy density, and low emissions.

APAC will be the leading region, occupying 42% of the market share over the forecast period. The growth of the regional market can be attributed to the growing need to reduce energy consumption as well as the dependence on fossil fuels in the region.

The global residential fuel cell market is concentrated with few vendors occupying the competitive landscape. Vendors are focusing on new product launches and M&A activities to remain competitive. The following are identified as dominant players in the global residential fuel cell market.

• Adaptive Energy LLC
• Aisin Corp.
• Bloom Energy Corp.
• Freudenberg SE
• HORIBA Ltd.
• Loop Energy Inc.
• Nedstack Fuel Cell Technology BV
• Panasonic Corp.
• SolidPower Spa
• Viessmann Family Holding

• Fuel Cell Market for Prime Power by Product and Geography - Forecast and Analysis 2022-2026
• Stationary Fuel Cell Market by Application and Geography - Forecast and Analysis 2022-2026

1. Executive Summary                         

               1.1 Market Overview 

                              Exhibit 01:  Key Finding 1

                              Exhibit 02:  Key Finding 1

                              Exhibit 03:  Key Finding 2

                              Exhibit 04:  Key Finding 3

                              Exhibit 05:  Key Finding 4

                              Exhibit 06:  Key Finding 5

                              Exhibit 07:  Key Finding 5

2. Market Landscape                            

               2.1 Market ecosystem             

                              Exhibit 08:  Parent market

                              Exhibit 09:  Market characteristics

               2.2 Value chain analysis           

                              Exhibit 10:  Value chain analysis

                              2.2.1 Inputs

                              2.2.2 Operations

                              2.2.3 Distribution and logistics

                              2.2.4 Marketing and sales

                              2.2.5 Aftermarket and service

                              2.2.6 Industry innovations

3. Market Sizing                      

               3.1 Market segment analysis  

                              Exhibit 11:  Market segments

               3.2 Market size 2021 

               3.3 Market definition

                              Exhibit 12:  Offerings of vendors included in the market definition

               3.4 Market outlook: Forecast for 2021 - 2026 

                              Exhibit 13:  Global - Market size and forecast 2021 - 2026 (MW)

                              Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis                         

               4.1 Five Forces Summary         

                              Exhibit 16:  Five forces analysis 2021 & 2026

               4.2 Bargaining power of buyers            

                              Exhibit 17: Bargaining power of buyers

               4.3 Bargaining power of suppliers        

                              Exhibit 18: Bargaining power of suppliers

               4.4 Threat of new entrants     

                              Exhibit 19: Threat of new entrants

               4.5 Threat of substitutes          

                              Exhibit 20: Threat of substitutes

               4.6 Threat of rivalry   

                              Exhibit 21: Threat of rivalry

               4.7 Market condition 

                              Exhibit 22:  Market condition - Five forces 2021

5 Market Segmentation by Product               

               5.1 Market segments

                              Exhibit 22:  Product - Market share 2021-2026 (%)

               5.2 Comparison by Product    

                              Exhibit 23:  Comparison by Product

               5.3 PEMFC - Market size and forecast 2021-2026          

                              Exhibit 24:  PEMFC - Market size and forecast 2021-2026 (MW)

                              Exhibit 25:  PEMFC - Year-over-year growth 2021-2026 (%)

               5.4 SOFC - Market size and forecast 2021-2026             

                              Exhibit 26:  SOFC - Market size and forecast 2021-2026 (MW)

                              Exhibit 27:  SOFC - Year-over-year growth 2021-2026 (%)

               5.5 Market opportunity by Product     

                              Exhibit 28:  Market opportunity by Product

6. Customer landscape                        

               6.1 Overview

                              Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                              Exhibit 29: Customer landscape

7. Geographic Landscape                    

               7.1 Geographic segmentation

                              Exhibit 30:  Market share by geography 2021-2026 (%)

               7.2 Geographic comparison    

                              Exhibit 31: Geographic comparison

               7.3 North America - Market size and forecast 2021-2026          

                              Exhibit 32:  North America - Market size and forecast 2021-2026 (MW)

                              Exhibit 33:  North America - Year-over-year growth 2021-2026 (%)

               7.4 APAC - Market size and forecast 2021-2026             

                              Exhibit 34:  APAC - Market size and forecast 2021-2026 (MW)

                              Exhibit 35:  APAC - Year-over-year growth 2021-2026 (%)

               7.5 Europe - Market size and forecast 2021-2026         

                              Exhibit 36:  Europe - Market size and forecast 2021-2026 (MW)

                              Exhibit 37:  Europe - Year-over-year growth 2021-2026 (%)

               7.6 South America - Market size and forecast 2021-2026          

                              Exhibit 38:  South America - Market size and forecast 2021-2026 (MW)

                              Exhibit 39:  South America - Year-over-year growth 2021-2026 (%)

               7.7 MEA - Market size and forecast 2021-2026              

                              Exhibit 40:  MEA - Market size and forecast 2021-2026 (MW)

                              Exhibit 41:  MEA - Year-over-year growth 2021-2026 (%)

               7.8 Key leading countries        

                              Exhibit 42:  Key leading countries

               7.9 Market opportunity by geography

                              Exhibit 43:  Market opportunity by geography ($ billion)

8. Drivers, Challenges, and Trends                  

               8.1 Market drivers      

                              8.1.1 Growing demand for efficient and cleaner technologies

                              8.1.2 Adoption of fuel cells for CHP

                              8.1.3 Favorable government policies

               8.2 Market challenges              

                              8.2.1 Competition from alternative technologies

                              8.2.2 Functional issues associated with SOFC

                              8.2.3 High cost of fuel cells

                              Exhibit 44:  Impact of drivers and challenges

               8.3 Market trends      

                              8.3.1 Growing affinity for self-generation

                              8.3.2 Development of zero-energy buildings

                              8.3.3 Increase in R&D activities

9. Vendor Landscape                            

               9.1 Overview

                              Exhibit 45: Vendor landscape

                              The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

               9.2 Landscape disruption         

                              Exhibit 46: Landscape disruption

                              Exhibit 47: Industry risks

               9.3 Competitive scenario        

10. Vendor Analysis               

               10.1 Vendors covered              

                              Exhibit 48: Vendors covered

               10.2 Market positioning of vendors    

                              Exhibit 49: Market positioning of vendors

               10.3 Adaptive Energy LLC       

                              Exhibit 50:  Adaptive Energy LLC - Overview

                              Exhibit 51:  Adaptive Energy LLC - Product and service

                              Exhibit 52:  Adaptive Energy LLC - Key offerings

               10.4 Aisin Corp.          

                              Exhibit 53:  Aisin Corp. - Overview

                              Exhibit 54:  Aisin Corp. - Business segments

                              Exhibit 55:  Aisin Corp.- Key news

                              Exhibit 56:  Aisin Corp. - Key offerings

                              Exhibit 57:  Aisin Corp. - Segment focus

               10.5 Bloom Energy Corp.        

                              Exhibit 58:  Bloom Energy Corp. - Overview

                              Exhibit 59:  Bloom Energy Corp. - Product and service

                              Exhibit 60:  Bloom Energy Corp. - Key offerings

               10.6 Freudenberg SE 

                              Exhibit 61:  Freudenberg SE - Overview

                              Exhibit 62:  Freudenberg SE - Business segments

                              Exhibit 63:  Freudenberg SE - Key offerings

                              Exhibit 64:  Freudenberg SE - Segment focus

               10.7 HORIBA Ltd.        

                              Exhibit 65:  HORIBA Ltd. - Overview

                              Exhibit 66:  HORIBA Ltd. - Business segments

                              Exhibit 67:  HORIBA Ltd. - Key offerings

                              Exhibit 68:  HORIBA Ltd. - Segment focus

               10.8 Loop Energy Inc.

                              Exhibit 69:  Loop Energy Inc. - Overview

                              Exhibit 70:  Loop Energy Inc. - Product and service

                              Exhibit 71:  Loop Energy Inc. - Key offerings

               10.9 Nedstack Fuel Cell Technology BV             

                              Exhibit 72:  Nedstack Fuel Cell Technology BV - Overview

                              Exhibit 73:  Nedstack Fuel Cell Technology BV - Product and service

                              Exhibit 74:  Nedstack Fuel Cell Technology BV - Key offerings

               10.10 Panasonic Corp.             

                              Exhibit 75:  Panasonic Corp. - Overview

                              Exhibit 76:  Panasonic Corp. - Business segments

                              Exhibit 77:  Panasonic Corp. - Key news

                              Exhibit 78:  Panasonic Corp. - Key offerings

                              Exhibit 79:  Panasonic Corp. - Segment focus

               10.11 SolidPower Spa

                              Exhibit 80:  SolidPower Spa - Overview

                              Exhibit 81:  SolidPower Spa - Product and service

                              Exhibit 82:  SolidPower Spa - Key offerings

               10.12 Viessmann Family Holding          

                              Exhibit 83:  Viessmann Family Holding - Overview

                              Exhibit 84:  Viessmann Family Holding - Product and service

                              Exhibit 85:  Viessmann Family Holding - 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 86: Currency conversion rates for US$

               11.3 Research Methodology   

                              Exhibit 87: Research Methodology

                              Exhibit 88: Validation techniques employed for market sizing

                              Exhibit 89: Information sources

               11.4 List of abbreviations        

                              Exhibit 90: List of abbreviations

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