Worldwide Industry for Fuel Cells to 2027 - Rising Need to Diminish the Reliance on Oil And Fuel is Driving Growth

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Nov 27, 2020, 10:15 ET

DUBLIN, Nov. 27, 2020 /PRNewswire/ -- The "Fuel Cell Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type, Phosphoric Acid Fuel Cell, Solid Oxide Fuel Cell, and Others); Application; and End-User" report has been added to ResearchAndMarkets.com's offering.

According to this report the market was valued at US $709.00 million in 2019 and is projected to reach US$ 4,570.68 million by 2027, growing at a CAGR of 26.8%. The report highlights the factors driving and restraining the market growth, as well as enumerates prominent players in the market with their recent developments.

At present, automotive manufacturers are inclined toward making automotive mobility more sustainable to reduce their impact on the environment. The major players in the automotive sector are focusing on investing in the production of electric vehicles. There have been notable collaborations in recent years between automakers and tech companies to develop technologically advanced electric vehicles. With the changes in business strategies to introduce innovative technologies, the market is moving toward EV adaptation, which has compelled ICE vehicle manufacturers to shift their focus toward EVs with high voltage operating devices. With the rapid growth in the automotive sector, car manufacturers are also becoming careful while selecting energy distribution technologies to avoid battery-related accidents.

At present, there is increase in demand for an energy-efficient electric vehicle to reduce pollution worldwide. Also, it is stated in the International Council on Clean Transportation (ICCT) that auto manufacturers have announced more than US$ 150 billion investments to achieve the production of 13 million electric vehicles by 2025. The shifting trend of vehicles from old conventional automotive vehicles to electric vehicles demands for electric circuit system, which drives the adoption of fuel cell. Thus, rapid growth in the automotive industry and increasing investment in the production of electric vehicles are the major factors offering opportunity for the global market players to expand their businesses.

The global fuel cell market is broadly segmented into type, application, end user, and geography upon extensive analysis of business offerings of considerable market players and selected end users. In terms of type, the proton exchange membrane fuel cell segment dominated the market in 2019. In terms of application, the stationary segment held the largest market share in 2019. In terms of end user, utilities segment held the highest share across the globe.

Hydrogenics Corp.; FuelCell Energy, Inc.; Plug Power Inc.; Bloom Energy; Ballard Power Systems; SFC Energy AG; Intelligent Energy Limited; Doosan Fuel Cell Co.Ltd.; TW Horizon Fuel Cell Technologies; and Toshiba Energy Systems & Solutions Corporation are among the major companies offering products in fuel cell market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global fuel cell market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the global fuel cell market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth India market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Key Topics Covered:

1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Fuel Cell Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 RoW
4.3 Expert Opinion
4.4 Ecosystem Analysis

5. Fuel Cell Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Need to Diminish the Reliance on Oil And Fuel
5.1.2 Increasing Government Support
5.2 Market Restraint
5.2.1 High Raw Class Cost
5.3 Market Opportunity
5.3.1 Rising Growth Potential for EVs
5.4 Market Trend
5.4.1 Advanced Technological Developments
5.5 Impact Analysis of Drivers and Restraints

6. Fuel Cell - Global Market Analysis
6.1 Fuel Cell Market Global Overview
6.2 Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Market Players Ranking

7. Fuel Cell Market Analysis - By Type
7.1 Overview
7.2 Fuel Cell Market, By Type (2019 and 2027)
7.3 Proton Exchange Membrane Fuel Cell
7.3.1 Overview
7.3.2 Proton Exchange Membrane Fuel Cell: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
7.4 Phosphoric Acid Fuel Cell
7.4.1 Overview
7.4.2 Phosphoric Acid Fuel Cell: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
7.5 Solid Oxide Fuel Cell
7.5.1 Overview
7.5.2 Solid Oxide Fuel Cell: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)

8. Fuel Cell Market - By Application
8.1 Overview
8.2 Fuel Cell Market, by Application (2019 and 2027)
8.3 Transport
8.3.1 Overview
8.3.2 Transport: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
8.4 Portable
8.4.1 Overview
8.4.2 Portable: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
8.5 Stationary
8.5.1 Overview
8.5.2 Stationary: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)

9. Fuel Cell Market Analysis - By End User
9.1 Overview
9.2 Fuel Cell Market, By End User (2019 and 2027)
9.3 Fuel Cell Vehicles
9.3.1 Overview
9.3.2 Fuel Cell Vehicles: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.1 Passenger Car Overview
9.3.2.1.1 Passenger Car: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.1.2 Passenger Car: Fuel Cell Market - Volume and Forecast to 2027 ('000 Units)
9.3.2.2 Commercial Vehicle Overview
9.3.2.3 Commercial Vehicle: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.4 Commercial Vehicle: Fuel Cell Market - Volume and Forecast to 2027 ('000 Units)
9.3.2.4.1 Class 1
9.3.2.4.1.1 Class 1: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.4.1.2 Class 1: Fuel Cell Market - Volume and Forecast to 2027 ('000 Units)
9.3.2.4.2 Class 2
9.3.2.4.2.1 Class 2: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.4.2.2 Class 2: Fuel Cell Market -Volume and Forecast to 2027 ('000 Units)
9.3.2.4.3 Class 3
9.3.2.4.3.1 Class 3: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.4.3.2 Class 3: Fuel Cell Market - Volume and Forecast to 2027 ('000 Units)
9.3.2.4.4 Class 4
9.3.2.4.4.1 Class 4: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.4.4.2 Class 4: Fuel Cell Market -Volume and Forecast to 2027 ('000 Units)
9.3.2.4.5 Class 5
9.3.2.4.5.1 Class 5: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.4.5.2 Class 5: Fuel Cell Market - Volume and Forecast to 2027 ('000 Units)
9.3.2.4.6 Class 6
9.3.2.4.6.1 Class 6: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.4.6.2 Class 6: Fuel Cell Market - Volume and Forecast to 2027 ('000 Units)
9.3.2.4.7 Class 7
9.3.2.4.7.1 Class 7: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.3.2.4.7.2 Class 7: Fuel Cell Market - Volume and Forecast to 2027 ('000 Units)
9.4 Utilities
9.4.1 Overview
9.4.2 Utilities: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.5 Defense
9.5.1 Overview
9.5.2 Defense: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Fuel Cell Market - Revenue and Forecast to 2027 (US$ Million)

10. Fuel Cell Market - Geographic Analysis
10.1 Overview
10.2 North America: Fuel Cell Market
10.3 Europe: Fuel Cell Market
10.4 APAC: Fuel Cell Market
10.5 RoW: Fuel Cell Market

11. Impact of COVID-19 Outbreak
11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 South America

12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development

13. Company Profiles
13.1 Hydrogenics Corp.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 FuelCell Energy, Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Plug Power Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Bloom Energy
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Ballard Power Systems
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 SFC Energy AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Intelligent Energy Limited
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Doosan Fuel Cell Co., Ltd.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 TW Horizon Fuel Cell Technologies
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Toshiba Energy Systems & Solutions Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments

14. Appendix
14.1 About the Publisher
14.2 Word Index

For more information about this report visit https://www.researchandmarkets.com/r/obq4wo

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