San
Francisco, 05 April , Fuel Cell Market Size, Share & Trends
Analysis Report By Product (PEMFC, PAFC, SOFC, MCFC), By Application
(Stationary, Transportation, Portable), By Region, And Segment Forecasts, 2018
- 2025
The global fuel cell market size
is projected to reach USD 24.81 billion by 2025, according to a new report by
Grand View Research, Inc. It is expected to expand at a CAGR of 20.9% over the
forecast period. International pressure on energy diversification is advocating
positive investment environment for alternative energy.
Fuel
cell is closing in to be the most efficient form of alternative energy
generation. Fuel cell shipments have witnessed rise over the past three years,
compelling manufacturers to increase operations. Fuel cell systems cost has
also seen a decline owing to significant innovations in terms of efficiency and
working cost.
Low
gas prices will remain a specific concern for this market as natural gas based
power generation is showing a radical decrease in operating cost and
significant increase in output. Rapid rise in efforts to capitalize on the
potential of fuel cells will drive this market at an estimated 20.9% CAGR over
the forecast period.
The
fuel cell market is likely to witness aggressive strategic alliances with
market players looking to expand their end-user segments in emerging markets.
Progressive private-public partnerships are predicted to be essential for
attaining an economically viable technological shift. Japan’s vision of
Hydrogen Society is anticipated to bode well for market growth by 2020
Stationary
hydrogen power plants is expected to emerge as the largest application segment
and account for over 70% of market in terms of shipped units. Factors such as
high efficiency, flexibility to use different fuels, and utilization of direct
current are the key demand drivers..
Access Full
Research Report On Fuel Cell Market Analysis:
Further key findings from the report
suggest:
·
Fuel cell units shipped at a
global level in 2016 were estimated to be 78,000 and the U.S. market size was
estimated to be 8,205 units
·
Proton exchange membrane fuel
cell (PEMFC) dominated the fuel cell market and accounted for over 76% of U.S.
units shipped in 2016
·
Solid oxide fuel cell (SOFC) is
likely to emerge as the fastest growing segment and is expected to register an
estimated CAGR of 39.3% during the forecast period in U.S. alone
·
North America is witnessing
several strategic partnerships with companies such as Coca-Cola, Walmart, and
other prominent players partnering up with manufacturers to use fuel cells for
internal energy consumption
·
Hyundai is powering its test
cars with fuel cells to deliver better efficiency in Japan and Latin America.
These cars are likely to earn commercial status by the end of the forecast
period.
Browse More Reports Of This
Category By Grand View Research At: https://www.grandviewresearch.com/industry/renewable-energy
Grand View Research has
segmented the global fuel cell market on the basis of product, application, and
region:
Fuel
Cell Product Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million,
2014 - 2025)
·
PEMFC
·
PAFC
·
SOFC
·
MCFC
·
Others
Fuel
Cell Application Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD
Million, 2014 - 2025)
·
Stationary
·
Transportation
·
Portable
Fuel
Cell Regional Outlook (Volume, Kilo Tons; Capacity, Mega Watt; Revenue, USD
Million, 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
U.K.
o
France
·
Asia Pacific
o
China
o
Japan
o
South Korea
·
Central & South America
o
Brazil
·
Middle East & Africa
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Press Release of this Report: https://www.grandviewresearch.com/press-release/global-fuel-cell-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more
information: www.grandviewresearch.com/
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