Fuel Cell Market Worth Over Us$6 Billion by 2024, Growing at 11% CAGR

SELBYVILLE, Del., Nov. 14, 2018 /PRNewswire-PRWeb/ -- Fuel Cell Market is poised to register over 11% gains to reach a revenue of USD 6 billion by 2024. Increasing demand for space heating across residential and commercial sector along with growing investment toward development of hydrogen refuelling station will stimulate the market. Growing installation of portable charging sources on account of increasing recreation activities will positively impact the business outlook.

Fuel cell market from transport segment is set to witness growth owing to its ongoing deployment in commercial vehicles, UAVs and e- bikes. Increasing cell demand from two & three wheelers, trams, small boats, FCEV's, light vehicles, ferries, goods handling vehicles and forklift trucks will further complement the business growth. In 2016, the FCV sales growth increase from 400 units in 2015 to 5000 units.

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SOFC fuel cell market share is predicted to witness growth owing to growing demand for fuel cell across large and small stationary power generation systems. Ability to possess over 60% efficiency and operate at high temperate ranges from 8000C to 1,0000C over other alternates make its adoption preferable over other alternates. Cost effectiveness, low emissions, stability, fuel flexibility and high efficiency are some of key parameters which will impede the fuel cell technology market.

UK fuel cell market is set to witness growth owing to growing investment toward development of hydrogen infrastructure along with favourable government regulations to reduce carbon emissions. Growing demand for development and deployment of the renewable energy technologies will further complement the business landscape. The Government of UK announced to inaugurate 1,150 hydrogen refuelling station by 2030.

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Japan fuel cell technology market is set to exceed 70 MW by 2024. Increasing concerns pertaining to security of supply along with growing adoption of clean energy technologies will propel the industry growth. Government backed extensive research and development projects along with development of hydrogen infrastructure across the nation will complement the industry outlook.

Major participants across fuel cell market includes Hydrogenics Corporation, Horizon, FuelCell Energy, Toshiba, UTC Power, Panasonic, Ceres Power, Plug Power, AFC Energy, Doosan, SFC, Arcola, Bloom Energy and Ballard. The industry has witnessed several M&A to expand its regional presence.

Browse key industry insights spread across 309 pages with 470 market data tables & 30 figures & charts from the report, "Fuel Cell Market Size By Product (PEMFC, DMFC, SOFC), By Application (Stationary, Portable, Transport), Industry Analysis Report, Regional Outlook (U.S, Canada, Mexico, Germany, UK, France, Italy, Spain, Austria Japan, South Korea, China, India, Philippines, Vietnam, Brazil, Peru, Ecuador, Nigeria, Kenya, UAE, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/fuel-cell-market

Table of Contents (ToC) of the report:

Chapter 3    Fuel Cell Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024 (USD Million) (MW)
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Innovation & sustainability
3.5 Regulatory landscape
3.5.1 U.S.
3.5.1.1 Fuel Cell and Hydrogen Energy Association (FCHEA)
3.5.1.1.1 Safety, Codes & Standards
3.5.1.2 CSA Fuel Cell Standards
3.5.1.3 SAE Fuel Cell Vehicle Safety Committee (automotive) enabling standards
3.5.1.4 NFPA 2: Hydrogen Technologies Code
3.5.1.5 Overview of Regulations, Codes, and Standards Related to Hydrogen Infrastructure Safety
3.5.2 Europe
3.5.2.1 Investments: Government and Collaborative Hydrogen and Fuel Cell Funding
3.5.3 Japan
3.5.3.1 Investments: Government and Collaborative Hydrogen and Fuel Cell Funding
3.5.3.2 Government Targets
3.5.4 South Korea
3.5.4.1 Government Targets
3.6 Orders and installations, 2015
3.6.1 Bloom energy
3.6.2 Doosan fuel cell
3.6.3 FuelCell Energy and FuelCell Energy Solutions, GmbH
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Government positive outlook and incentives
3.7.1.2 Environment-friendly and a better alternative than existing options
3.7.1.3 More efficient than batteries
3.7.2 Industry pitfalls & challenges
3.7.2.1 Lack of infrastructure
3.8 Growth potential analysis
3.9 Announced Hydrogen Stations Plans, Upgrades, 2015
3.10 Commercially available hydrogen generation systems, 2015
3.11 Hydrogen energy storage projects, 2015
3.12 Porter's Analysis
3.13 Competitive landscape, 2016
3.13.1 Strategy dashboard
3.13.1.1 Hydrogenics Corporation
3.13.1.2 Ballard
3.13.1.3 FuelCell Energy
3.13.1.4 SFC Energy
3.13.2 Merger and acquisition landscape
3.14 PESTEL Analysis
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/fuel-cell-market

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