Fuel Cell Technology Market Report 2019 To 2023 is latest market research study on Global Fuel Cell Technology Market published by Market Research Future. According to report Global Fuel Cell Technology Market valuation at a 14.5% CAGR by 2023. Market for Fuel Cell Technology Industry is segmented by application, type and region.
Key Companies Analyzed in Report:
MRFR in its report has covered some of the leading companies operating in the global market for fuel cell technology namely Ceres power Holdings PLC, SFC Energy AG, Ned stack fuel cell Technology, Genport SRL, AFC Energy PLC, and TOPSOE Fuel cell.
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Inclination towards alternative source of energy and rising concerns over extensive use of fossil fuel is creating application opportunities for fuel cell technology. According to a study a conducted by Market Research Future (MRFR), the global fuel cell technology market is poised to surge at 14.5% CAGR during the assessment period (2018-2024).
Fuel cells are witness a quick uptake in electric vehicles. Moreover, they are used an additional source of power for moving forklifts in vehicles. Over the years, fuel cell technology has undergone several phases of transformation making more relevant and viable. The latest variants of fuel cells have superior characteristics as compared to convention battery. As a result, they are replacing conventional batteries in various electrical applications. This has bolstered the market prospects for fuel cell technology.
Fuel cell technology is also gaining traction owing their advantage over most other back-up power systems. Fuel cell technology is advanced and comer with a slew of application features. Nevertheless, factors such as poor fuel infrastructure and high cost of catalyst are among the major market impediments.
Manufactures are likely to remain focused on product innovation to overcome some of existing technological barriers. During the forecast period, application of fuel cell technology will remain concentrated in the automotive sector. Meanwhile, demand for fuels cells from other industries continues to grow steadily. A data released by the fuel cell industry reveals that in 2017 there was a 30% YoY rise in worldwide shipment. Demand growth is also attribute to the introduction of stringent carbon emission regulation. Such trends are expected to have a significant impact on the global fuel cell technology market in the forthcoming years.
Global Fuel Cell Technology Market Segmental Analysis:
The segmental analysis of the market has been conducted based on application, type and region.
Based on application, the market has been segmented into transportation, portable and stationary. The stationary segment is expected to exhibit a strong growth over the next couple of years.
Based on types, key segments include PAFC, DMFC, SOFC¸ MCFC, PEMFC and others. Of these, the PEMFC segment currently represents an impressive market share in terms of value. Preference for fuel cell technology is high owing to its technical superiority, which makes it capable of delivering more power.
Global Fuel Cell Technology Market Regional Analysis:
Asia Pacific is expected to remain a highly attractive market for fuel cell technology during the forecast period. This is mainly owing to increased demand for power in the region. Fuel cell have a significant market in Asia, which is mainly receiving impetus from countries such as China, India, South Korea and Japan. Fuel cell technology is flourishing on the wake of higher electric vehicle adoption in APAC countries.
The APAC fuel cell technology market is projected to exhibit an impressive growth during the forecast period. The expansion of the automotive industry coupled with the prowess electronics manufacturing favours the market growth in APAC. Many of the countries in APAC are technological advanced and present tremendous market opportunities. Local policy makers are focusing on De-regularization in improve ease of business. Data released by India Brand Equity Foundation, India received over USD 20.85 Bn in the form of FDI between 2000 and 2018. Such factors are supporting the market growth in APAC countries.
List of Tables:
1 Executive Summary 11
2 Introduction 12
2.1 Definition 12
2.2 Scope Of The Study 12
2.3 Assumptions 12
2.4 Key Buying Criteria 13
2.5 Market Structure 13
3 Research Methodology 14
3.1 Research Process 14
3.2 Primary Research 14
3.3 Secondary Research 15
3.4 Market Size Estimation 15
3.5 Forecast Model 17
4 Market Factor Analysis 18
4.1 Porter’s Five Forces Analysis 18
4.1.1 Threat Of New Entrants 18
4.1.2 Bargaining Power Of Suppliers 19
4.1.3 Bargaining Power Of Buyers 19
4.1.4 Threat Of Substitutes 19
4.1.5 Rivalry 19
4.2 Supply Chain Analysis 20
5 Patent Trends 22
5.1 Patent Trends 22
6 Market Dynamics 27
Continued…
List of Tables:
TABLE 1 GLOBAL FUEL CELL TECHNOLOGY MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA FUEL CELL TECHNOLOGY MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE FUEL CELL TECHNOLOGY MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC FUEL CELL TECHNOLOGY MARKET: BY COUNTRY, 2017-2023
TABLE 5 ROW FUEL CELL TECHNOLOGY MARKET: BY COUNTRY, 2017-2023
TABLE 6 GLOBAL FUEL CELL TECHNOLOGY MARKET, BY TYPE, BY REGIONS, 2017-2023
TABLE 7 NORTH AMERICA FUEL CELL TECHNOLOGY MARKET, BY TYPE, BY COUNTRY, 2017-2023
TABLE 8 EUROPE FUEL CELL TECHNOLOGY MARKET, BY RESIN TYPE, BY COUNTRY, 2017-2023
TABLE 9 ASIA PACIFIC FUEL CELL TECHNOLOGY MARKET BY TYPE, BY COUNTRY, 2017-2023
TABLE 10 ROW FUEL CELL TECHNOLOGY MARKET BY TYPE, BY COUNTRY, 2017-2023
Continued…
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