The market is dominated by companies such as Fuel Cell Energy, Ballard, Clearedge, and Toshiba. Some of the other companies operating in the global market include Panasonic, Plug Power Inc., and Hydrogenics Corporation.
San Francisco, California (PRWEB) July 30, 2014
Global fuel cell capacity is expected to reach 664.5 MW by 2020, growing at a CAGR of 22.6% from 2014 to 2020. Government support across various nations to develop hydrogen fuel station is expected to remain a major driving factor for the market over the next six years. In addition, favorable regulatory scenario owing to shift in focus towards developing renewable energy is also expected to boost the global fuel cell market over the forecast period. However, high switching cost and lack of infrastructure in developing countries are identified as major restraints to the market.
The report, “Fuel Cell Market Analysis and Segment Forecasts to 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/fuel-cell-market
Request free sample of this report at http://www.grandviewresearch.com/industry-analysis/fuel-cell-market/request
Further key findings from the study suggest:
- Global fuel cell shipments were 50,050 units in 2013, and are expected to reach 790,450 units by 2020, growing at a CAGR of 49.1% from 2014 to 2020.
- PEMFC emerged as the leading product segment in the overall market and accounted for 88.6% of total units shipped and 42.8% of total capacity in 2013. However, MCFC is expected to be the fastest growing product segment for fuel cell at an estimated CAGR of 56.6% from 2014 to 2020.
- Portable applications dominated the global application market for fuel cells, accounting for 71.2% of total unit shipments in 2013. However, in terms of capacity, stationary applications emerged as the leading application market and accounted for 58.1% of total capacity installed in 2013.
- North America emerged as the leading consumer for fuel cell in terms of installed capacity and accounted for 42.5% of total capacity in 2013. In terms of total unit shipments, Asia Pacific emerged as the leading consumer and accounted for 36.9% of total market in 2013. However, North America is expected to surpass Asia Pacific to become the largest market for fuel cell both in terms of unit shipments and capacity by 2020.
- The global market is highly concentrated, with top four participants catering to over 70% of global demand. The market is dominated by companies such as Fuel Cell Energy, Ballard, Clearedge, and Toshiba. Some of the other companies operating in the global market include Panasonic, Plug Power Inc., and Hydrogenics Corporation.
Browse all reports of this category at http://www.grandviewresearch.com/industry/renewable-energy
For the purpose of this study, Grand View Research has segmented the global fuel cell market on the basis of product, application, and region:
- Fuel Cell Product Outlook (Unit Shipment; Revenue, USD Million; Capacity, MW; 2012-2020)
- Fuel Cell Application Outlook (Unit Shipment; Capacity, MW; 2012-2020)
- Regional Coverage of the Database:
• North America
Browse all Grand View Research ongoing reports at http://www.grandviewresearch.com/ongoing-reports
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, 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 energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
Upcoming Reports by Grand View Research:
Fluorosilicic Acid Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2014 to 2020 - http://www.grandviewresearch.com/industry-analysis/fluorosilicic-acid-market
Graphene Electronics Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2014 to 2020 - http://www.grandviewresearch.com/industry-analysis/graphene-electronics-market