Market Overview:
The global fuel cell technology market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for clean and efficient energy sources, rising concerns over climate change, and growing investments in fuel cell technology by governments and private players. The global fuel cell technology market is segmented on the basis of type into MCFC, PEMFC, SOFC, DMFC, PAFC. Of these segments, PEMFC is expected to account for the largest share of the market in terms of revenue due to its high efficiency and low cost. On the basis of application, the global fuel cell technology market is segmented into stationary applications such as power generation and backup power systems; transport applications such as buses and cars; portable applications such as laptops and smartphones; and other applications including military vehicles & equipment’s etc. Among these segments, stationary application held majority share in 2017 owing to increasing demand for distributed generation across various regions worldwide. However, transport application is projected to grow at highest CAGR during forecast period owing to stringent emission norms being implemented by various governments across globe coupled with rising demand for electric vehicles (EVs).
Product Definition:
A fuel cell is a device that converts the chemical energy from a fuel into electricity through a chemical reaction with oxygen or another oxidizing agent. Fuel cells are different from batteries in that they require a continuous source of fuel and oxygen to run, and do not store energy.
MCFC:
MCFC is Metal-Chloride Fuel Cell, it's a type of fuel cell that uses metal-chloride catalysts. It was developed by Dr. Hideki Matsui in the early 1980s and commercialized by SFC Corporation in the late 1980s.
PEMFC:
Power Electronic Materials and Electrolyte Membranes (PEMFC) is a type of fuel cell technology that uses solid oxide electrolyte in combination with electronic materials for power generation. The PEMFC has advantages such as it’s compact, lightweight design which helps in easy installation and maintenance. Also, the PEMFC offers higher efficiency as compared to other fuel cell technologies which makes it more suitable for large-scale commercial applications.
Application Insights:
The stationary application segment dominated the global fuel cell technology market in 2017 and is projected to maintain its lead over the forecast period. The growing need for replacing aging power plants with state-of-the-art clean energy generation facilities that produce no emissions in the surrounding area is expected to drive demand for FCEV across this segment.
Portable applications of fuel cell technology are anticipated to witness significant growth over the forecast period owing to their rising adoption in portable electronics, medical equipment, and recreational vehicles among others. Portable applications include products such as mobile phones, laptops/netbooks, consumer electronics devices among others which use FCEVs as a source of power supply. Stationary applications include products such as residential & commercial buildings (households), transportation (vehicles) along with other industrial purposes including large scale power generation plants and utility infrastructure projects.
Regional Analysis:
North America accounted for the largest market share in 2017 owing to the presence of a large number of fuel cell manufacturers and research organizations. The region is expected to maintain its dominance over the forecast period, with growing demand from portable, stationary, and transport applications.
The U.S., which was at the forefront of North America’s FCTM industry in 2017 owing to heavy investments made by both domestic as well as foreign players operating in this sector is anticipated to slow down or even halt operations due to lack of government subsidies on FCrE activities post 2020 under current policy framework may hinder market growth over next few years; however, it will eventually recover its losses after 2022 when subsidy policies are likely tp change course once again.
Europe's FCTM industry has been severely affected by political uncertainty since 2016 coupled with economic uncertainties that have hampered consumer spending across most European countries thus hampering overall regional growth prospects for fuel cells.
Growth Factors:
- Increasing demand for fuel cell vehicles from the automotive sector
- Proliferation of small and medium-sized businesses (SMBs) that are deploying fuel cells to power their operations
- Growing demand for stationary fuel cells from data centers, telecommunications, and other commercial and industrial entities
- Increased interest in hydrogen as a zero-emission transportation fuel
- Advances in materials science that are making fuel cells more efficient, durable, and affordable
Scope Of The Report
Report Attributes
Report Details
Report Title
Fuel Cell Technology Market Research Report
By Type
MCFC, PEMFC, SOFC, DMFC, PAFC
By Application
Stationary, Transport, Portable
By Companies
Ballard, Ceramic Fuel Cell, FuelCell Energy, Hydrogenics, Panasonic Corporation, Toshiba Corporation, Ballard Power Systems, Doosan Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Fuel Cell Technology Market Report Segments:
The global Fuel Cell Technology market is segmented on the basis of:
Types
MCFC, PEMFC, SOFC, DMFC, PAFC
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Stationary, Transport, Portable
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Ballard
- Ceramic Fuel Cell
- FuelCell Energy
- Hydrogenics
- Panasonic Corporation
- Toshiba Corporation
- Ballard Power Systems
- Doosan Corporation
Highlights of The Fuel Cell Technology Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- MCFC
- PEMFC
- SOFC
- DMFC
- PAFC
- By Application:
- Stationary
- Transport
- Portable
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Fuel Cell Technology Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Fuel cell technology is a process that uses hydrogen and oxygen to create electricity. This technology can be used in vehicles, homes, and other applications.
Some of the key players operating in the fuel cell technology market are Ballard, Ceramic Fuel Cell, FuelCell Energy, Hydrogenics, Panasonic Corporation, Toshiba Corporation, Ballard Power Systems, Doosan Corporation.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Fuel Cell Technology Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Fuel Cell Technology Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Fuel Cell Technology Market - Supply Chain
4.5. Global Fuel Cell Technology Market Forecast
4.5.1. Fuel Cell Technology Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Fuel Cell Technology Market Size (000 Units) and Y-o-Y Growth
4.5.3. Fuel Cell Technology Market Absolute $ Opportunity
5. Global Fuel Cell Technology Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Fuel Cell Technology Market Size and Volume Forecast by Type
5.3.1. MCFC
5.3.2. PEMFC
5.3.3. SOFC
5.3.4. DMFC
5.3.5. PAFC
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Fuel Cell Technology Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Fuel Cell Technology Market Size and Volume Forecast by Application
6.3.1. Stationary
6.3.2. Transport
6.3.3. Portable
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Fuel Cell Technology Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Fuel Cell Technology Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Fuel Cell Technology Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Fuel Cell Technology Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Fuel Cell Technology Demand Share Forecast, 2019-2026
9. North America Fuel Cell Technology Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Fuel Cell Technology Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Fuel Cell Technology Market Size and Volume Forecast by Application
9.4.1. Stationary
9.4.2. Transport
9.4.3. Portable
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Fuel Cell Technology Market Size and Volume Forecast by Type
9.7.1. MCFC
9.7.2. PEMFC
9.7.3. SOFC
9.7.4. DMFC
9.7.5. PAFC
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Fuel Cell Technology Demand Share Forecast, 2019-2026
10. Latin America Fuel Cell Technology Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Fuel Cell Technology Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Fuel Cell Technology Market Size and Volume Forecast by Application
10.4.1. Stationary
10.4.2. Transport
10.4.3. Portable
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Fuel Cell Technology Market Size and Volume Forecast by Type
10.7.1. MCFC
10.7.2. PEMFC
10.7.3. SOFC
10.7.4. DMFC
10.7.5. PAFC
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Fuel Cell Technology Demand Share Forecast, 2019-2026
11. Europe Fuel Cell Technology Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Fuel Cell Technology Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Fuel Cell Technology Market Size and Volume Forecast by Application
11.4.1. Stationary
11.4.2. Transport
11.4.3. Portable
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Fuel Cell Technology Market Size and Volume Forecast by Type
11.7.1. MCFC
11.7.2. PEMFC
11.7.3. SOFC
11.7.4. DMFC
11.7.5. PAFC
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Tye
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Fuel Cell Technology Demand Share, 2019-2026
12. Asia Pacific Fuel Cell Technology Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Fuel Cell Technology Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Fuel Cell Technology Market Size and Volume Forecast by Application
12.4.1. Stationary
12.4.2. Transport
12.4.3. Portable
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Fuel Cell Technology Market Size and Volume Forecast by Type
12.7.1. MCFC
12.7.2. PEMFC
12.7.3. SOFC
12.7.4. DMFC
12.7.5. PAFC
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Fuel Cell Technology Demand Share, 2019-2026
13. Middle East & Africa Fuel Cell Technology Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Fuel Cell Technology Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Fuel Cell Technology Market Size and Volume Forecast by Application
13.4.1. Stationary
13.4.2. Transport
13.4.3. Portable
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Fuel Cell Technology Market Size and Volume Forecast by Type
13.7.1. MCFC
13.7.2. PEMFC
13.7.3. SOFC
13.7.4. DMFC
13.7.5. PAFC
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Fuel Cell Technology Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Fuel Cell Technology Market: Market Share Analysis
14.2. Fuel Cell Technology Distributors and Customers
14.3. Fuel Cell Technology Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Ballard
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Ceramic Fuel Cell
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. FuelCell Energy
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hydrogenics
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Panasonic Corporation
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Toshiba Corporation
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Ballard Power Systems
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Doosan Corporation
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
