Fuel Cells Global Strategic Business Report 2024 – Net Zero Carbon Goals and Favorable Government Policy Changes Promote Adoption of Fuel Cell Technology

DUBLIN, March 28, 2024 /PRNewswire/ — The “Fuel Cells – Global Strategic Business Report” has been added to  ResearchAndMarkets.com’s offering.

The global market for Fuel Cells estimated at US$11.4 Billion in the year 2023, is projected to reach a revised size of US$40.7 Billion by 2030, growing at a CAGR of 17.2% over the analysis period 2023-2030.

Proton Exchange Membrane Fuel Cells, one of the segments analyzed in the report, is projected to record 17.3% CAGR and reach US$26.8 Billion by the end of the analysis period. Growth in the Phosphoric Acid Fuel Cells segment is estimated at 17.6% CAGR for the next 8-year period.

The Fuel Cells market in the U.S. is estimated at US$2.8 Billion in the year 2023. China, the world’s second largest economy, is forecast to reach a projected market size of US$7 Billion by the year 2030 trailing a CAGR of 23.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.2% and 16.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 16.2% CAGR.

Key Market Trends & Drivers

Ambitious Vision of an All-Hydrogen Economy Drives Interest in Fuel CellsNet Zero Carbon Goals and Favorable Government Policy Changes Promote Adoption of Fuel Cell TechnologyCarbon Neutrality Goals of Various CountriesAuto Industry Banks on Fuel Cells as a Sustainable Fuel Technology of the FuturePEM Fuel Cells in AutomobilesStrong Investments to Promote GrowthAutomakers Eye on Hydrogen Fuel Cells to Boost Gains in Post-Pandemic EraHydrogen FCEVs Combat GHG EmissionsFCEV Targets Set by the Hydrogen Council for the Years 2030 and 2050Hydrogen Refueling Infrastructure: Critical for the Success of FCVsHigh Costs: The Achilles Heel of Hydrogen Fuel cellsDeployments of Fuel Cell Electric Bus (FCEB)Focus on Enhancing Durability and Lowering Cost of Fuel Cells IncreasesHydrogen Fuel Cells for Motorbikes: An Opportunity to TapFuel Cells Find Niche Applications in 2-Stroke Engine MotorcyclesFuel Cell-Powered Trains and Trams: Tremendous Potential for Fuel Cell IndustryMaterial Handling: A Successful Application of Fuel CellsMarine Sector: A Nascent yet Promising Application of Fuel CellsNeed for Alternative Propulsion Solutions Drives Demand for Fuel Cells in Marine Vessels MarketExpanding Applications in the Military Sector Augur Well for the MarketA Glance at Use of Fuel Cell Systems in Select Military ApplicationsStrong Demand for Portable Electronic Devices to Spur Opportunities for Portable Fuel CellsEnvironmental Benefits Drive Adoption of Fuel Cells in the Power SectorRising Investments in Distributed Renewable Energy Generation Enhances Prospects for Fuel CellsGlobal Energy Mix: 1990 Vs 2020 Vs 2030Demand Response: An Expanding Application for Fuel CellsAircraft Manufacturers Take a Closer Look at Fuel-Efficient and Eco-Friendly Fuel CellsFuel Cells for Data Center Market to Witness Notable ExpansionStationary Fuel Cells Market: An OverviewTelecom Industry Moving towards Stationary Fuel Cells for Backup PowerStationary Fuel Cells Gather Steam in Backup and UPS Stationary ApplicationsResidential Sector Drives Demand for Stationary Fuel CellsStationary and Distributed Energy Applications Garner AttentionMFCs Technology: Promising Source of Alternative PowerTechnological Benefits Continue to Propel Micro Fuel Cells MarketDirect Methanol Fuel Cell Preferred Choice for Portable DevicesBroader Adoption in Key Applications Fuels PEM Fuel Cells MarketAlkaline Fuel Cell Market Heading for Massive GainsSOFCs: A Technology of Interest to the Developed CountriesKey Applications of SOFCsSOFCs Gather Momentum in Stationary Cogeneration/CHP DeploymentsSOFCs: Ideal for Distributed Power GenerationTechnology Innovations and Research Efforts in Fuel Cell Market – A Review of Select DevelopmentsResearchers Develop Proton-Driven Fuel Cell Technology for Powering Space ShuttlesBoeing’s Insitu Improves Hydrogen Fuel Cell Propulsion System for UAVsBallard Power Systems Joins Hand with W. L. Gore for Advancing Fuel Cell TechnologyA WSU Research Team Uses Molybdenum Doped Nickle Catalyst for Making SOFCs more EfficientInnovative Fuel Cell Technology to Improve Carbon Fuel Utilization in DCFCsSelf-Healing Membrane to Potentially Extend Hydrogen Fuel Cells’ LifeNew Nanomaterial to Allow Cost-Efficient Production of Hydrogen for Fuel Cell CarsResearchers at NETL Develop Innovative Method to Improve SOFC PerformanceAdvances in Nanotechnology Enables More Efficient Fuel Cell ApplicationsRaw Material : A ReviewImportant Materials Used in Fuel Cells and BatteriesChallenges in Fuel Cell Commercialization

Key Report Features

Full access to influencer engagement statsFree access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilitiesFull client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideasComplimentary report updates for one yearCompetitor coverage with global market shares of major playersPlayer market presence analysis (Strong/Active/Niche/Trivial) across multiple geographiesAccess to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

The report provides coverage of 150+ select competitors.

A selection of companies featured includes:

Ballard Power Systems, Inc.Bloom Energy CorporationAltergy SystemsCeres Power Holdings PLCAFC Energy PLCArcola Energy Ltd.Antig Technology Co. Ltd.BayoTech Inc.AllathermAlvatek LimitedAspen Systems, LLC.Air Products Inc.Coatema Coating MachineryCandleLandChung-Hsin Electric and Machinery Manufacturing Corp. (CHEM)

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Fuel Cells: An IntroductionClassification of Fuel CellsMajor Applications of Fuel CellsFuel Cells: Clean, Efficient, Reliable and Eco-friendly Alternative to Conventional Petroleum-based FuelsFuel Cells Market: Prospects and OutlookMajor Market Drivers & RestraintsGovernment Subsidies to Promote Fuel Cell TechnologyIncreasing Adoption of EVs and Hybrid VehiclesStrong Focus on Alternative Energy SourcesPotential for Use in Distributed Generation ApplicationsIncreasing Popularity of Hydrogen FuelStationary & PEM Fuel Cells and Fuel Cell Vehicles to Post Solid GrowthPolymer Electrolyte Membrane Fuel Cell Dominates Fuel Cells MarketStationary and Transport Applications Lead the Fuel Cells MarketClean Energy Focus Drives Use of Fuel Cells in Transportation SectorDeveloped Economies at the Forefront of Innovation and Adoption of Fuel Cells-based ApplicationsDeveloping Economies Emerge as Promising Regions for Fuel Cell AdoptionCost Reductions to Benefit Market GrowthCost Structure of Fuel Cell: Breakdown (%) of Cost by Key ComponentsCompetitive LandscapeA Fairly Competitive MarketParticipants Focus on Product Innovation and Expansion to Gain Competitive EdgeRecent Market ActivityStartups Enter the FrayWorld BrandsFuel Cells – Global Key Competitors Percentage Market Share in 2024 (E)Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

United StatesCanadaJapanChinaEuropeFranceGermanyItalyUnited KingdomSpainRussiaRest of EuropeAsia-PacificSouth KoreaRest of WorldLatin America

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/v8svem

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