GLOBAL FUEL CELL MARKET FORECAST 2018-2026

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GLOBAL FUEL CELL MARKET FORECAST 2018-2026

 Global Fuel cell market is estimated to grow with approx.16.58% CAGR during the year 2018 – 2026. The base year considered for the study is 2017 and the forecast period is 2018-2026. Global Fuel Cell market is primarily driven by the following factors: Development of hydrogen infrastructure. Rising public-private partnership. Shift toward green concept

GLOBAL FUEL CELL MARKET FORECAST 2018-2026

Global  Fuel Cell Market Is Segmented by Technology (Solid Oxide Fuel Cells (SOFE), Phosphoric Acid Fuel Cells (Pafc), Molten Carbonate Fuel Cells (MCFC), Direct Methanol Fuel Cells (DMFC), Polymer/Proton Exchange Membrane Fuel Cells (PEM)) by Application (Transportation Fuel Cell, Stationary Fuel Cell, Portable Fuel Cell) & Geography

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Global Fuel cell market is estimated to grow with approx.16.58% CAGR during the year 2018 – 2026. The base year considered for the study is 2017 and the forecast period is 2018-2026. Global Fuel Cell market is primarily driven by the following factors:

  • Development of hydrogen infrastructure
  • Rising public-private partnership
  • Shift toward green concept
  • Innovation in fuel cell technology
  • Advantages of fuel cells over other storage technologies

Fuel Cell Market By Inkwood Research

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The rising public-private partnership in manufacturing and infrastructure development is supporting the growth of the fuel cell market. The Energy Department of US, in 2016, announced an investment of approximately $30 million for innovation in hydrogen and fuel cell technologies. This includes 30 different projects that have been developed with the aim of discovering and developing low-cost materials for hydrogen production and storage, and for fuel cells on light-duty vehicles. Furthermore, the government is providing funds to various organizations for the development of fuel cell-based technology.

An acidic and water-based polymer membrane is used as an electrolyte in Proton Exchange Membrane Fuel Cell (PEMFC) devices, which bear platinum-based electrodes. These devices operate at low temperatures and cater to dynamic power requirements. The chemical source for PEMFC is hydrogen, which should be pure because of the device’s operating temperature conditions and its use of precious-metal-based electrodes. PEMFC is a leading fuel cell technology, which is extensively used with applications in light duty and material handling vehicles. It is also used in stationary applications and other situations but to a lesser extent. PEMFC are highly efficient (40%-50% electrical efficiency) and the cost of materials are lower than other high-temperature fuel cells, except for the platinum catalyst. Furthermore, investments from government and companies across the world towards this industry are expected to drive the market forward

The high cost of fuel cell technologies and lack of infrastructure are the major factors hindering this market. Adoption of fuel cell technology offers numerous benefits to the consumers. However, the fuel cell system is a very complex system and contains expensive material such as platinum in the anode. The use of platinum increases the overall cost of fuel cell systems. Use of platinum as a catalyst in PEFCs is considered as one of the key obstacles towards commercialization as it contributes significantly to the overall cost. Additionally, it is also necessary to develop the entire new hydrogen infrastructure, and it is expensive to build fuel production and refueling stations.

The global fuel cell market segments include technology and application.

Technology is segmented into:

  • Solid Oxide Fuel Cell (SOFC)
  • Phosphoric Acid Fuel Cell (PAFC)
  • Molten Carbonate Fuel Cell (MCFC)
  • Direct Methanol Fuel Cell (DMFC)
  • Polymer/Proton Exchange Membrane Fuel Cell (PEMFC)

Applications are segmented into:

  • Transportation
  • Stationary
  • Portable

The report scope is widely categorized on the basis of its components which includes technology. Moreover, the market revenue estimates and forecast includes only fuel cell systems and exclude the services of fuel cell technology.

Geographically, the global fuel cell market has been segmented on the basis of four major regions, which includes:

Asia Pacific is anticipated to account for the largest market share by the end of the forecast period as the fuel cell market in APAC is expected to grow at a rapid pace. Increase in investment in fuel cell devices and advances in technology are the two main factors that will propel the market growth in this region. Also, the growing need for reducing energy consumption across various sectors will drive the market in the region. China, Japan, South Korea, and Taiwan are the key countries where large numbers of fuel cell installations are underway for fulfilling the need of reliable power sources. Japan, with capital subsidies in place for local fuel cell manufacturers, is fueling the demand for fuel cells. Automakers in the country are entering into high-level partnerships with international fuel cell companies to share expertise and advance technology.

The Fuel cell Market is segmented based on technology which is sub-divided into solid oxide, phosphoric acid, molten carbonate, direct methanol, and polymer/proton exchange membrane, and is also segmented on the basis of applications which are sub-divided into transportation, stationary, and portable.

The major market players in the global fuel cell market are:

  • FUEL CELL ENERGY
  • BALLARD POWER SYSTEMS
  • PLUG POWER
  • SFC ENERGY
  • HYDROGENICS CORP
  • OTHERS

Company Profiles covers analysis of important players

These companies are using organic and inorganic strategies for growth. For instance, on 30th Nov 2017, Fuelcel Energy Inc, a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery, and storage of energy, announced the execution of a hydrogen and power off-take agreement with Toyota. Toyota will purchase renewable hydrogen for vehicle fueling, generated on-site, from a multi-megawatt SureSource fuel cell power plant, that is located at the Port of Long Beach, California. On 12th September 2017, Ballard Power Systems announced that the Company has collaborated with Nisshinbo Holdings, an Environmental and Energy company, to develop a Non-Precious Metal Catalyst (NPMC) for use in the world’s first commercialized NPMC-based proton exchange membrane (PEM) fuel cell product.

Key Findings of the global fuel cell market.

  • Innovation in fuel cell technology and rising public-private partnership is fueling the growth of the global fuel cell market.
  • Asia Pacific is anticipated to account for the largest revenue share in 2017.
  • Polymer/Proton Exchange Membrane (PEM) segment is dominating the market
  • Increasing government support
  • Product launch is the key strategy adopted by various market players of the global fuel cell market.
  • Stationary application is the major segment of fuel cell applications.

  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC HOLDS MAJOR CHUNK OF THE GLOBAL FUEL CELL MARKET
      • REDUCTION IN FUEL CELL PRICES
      • STATIONARY APPLICATIONS LEAD THE APPLICATIONS SEGMENT
      • POLYMER/PROTON EXCHANGE MEMBRANE TO DOMINATE THE TECHNOLOGY SEGMENT
  1. MARKET DYNAMICS
    • MARKET DEFINITION
    • DRIVERS
      • DEVELOPMENT OF HYDROGEN INFRASTRUCTURE
      • RISING PUBLIC-PRIVATE PARTNERSHIP
      • SHIFT TOWARD GREEN CONCEPT
      • INNOVATION IN FUEL CELL TECHNOLOGY
      • ADVANTAGES OF FUEL CELLS OVER OTHER STORAGE TECHNOLOGIES
    • RESTRAINTS
      • HIGH COST OF FUEL CELL TECHNOLOGIES
      • LACK OF INFRASTRUCTURE
    • OPPORTUNITIES
      • INCREASING DEMAND FOR HYDROGEN FUEL CELLS AS AN EFFECTIVE SOURCE OF ENERGY IN VEHICLES
      • INCREASING DEMAND FOR POWER GENERATION
    • CHALLENGES
      • HIGH CAPITAL INVESTMENT
      • LACK OF SKILLED PROFESSIONALS
  1. MARKET BY TECHNOLOGY
    • SOLID OXIDE FUEL CELLS (SOFC)
    • PHOSPHORIC ACID FUEL CELLS (PAFC)
    • MOLTEN CARBONATE FUEL CELLS (MCFC)
    • DIRECT METHANOL FUEL CELLS (DMFC)
    • POLYMER/PROTON EXCHANGE MEMBRANE FUEL CELLS (PEM)
  2. MARKET BY APPLICATION
    • TRANSPORTATION FUEL CELL
    • STATIONARY FUEL CELL
    • PORTABLE FUEL CELL
  3. KEY ANALYTICS
    • PORTER’S 5 FORCE ANALYSIS
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE PRODUCTS
      • BARGAINING POWER OF BUYERS
      • BARGAINING POWER OF SUPPLIERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • VALUE CHAIN ANALYSIS
      • RAW MATERIAL SUPPLIERS
      • MANUFACTURERS
      • DISTRIBUTORS
      • END-USERS
    • KEY BUYING CRITERIA
      • PRICE
      • APPLICATION
      • EFFICIENCY OF THE SYSTEM
    • ESTIMATION ANALYSIS
      • INVESTMENTS IN FUEL CELL
      • ESCALATING NUMBER OF HYDROGEN REFUELING STATIONS
    • REGULATORY FRAMEWORK
    • PATENT ANALYSIS
      • UNITED STATES
      • EUROPE
      • JAPAN
    • INVESTMENT OUTLOOK
      • REGIONAL OUTLOOK
      • APPLICATIONS OUTLOOK
    • VENDOR LANDSCAPE
    • OPPORTUNITY MATRIX
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • TOP WINNING STRATEGIES
      • PRODUCT LAUNCH/INVESTMENT/R&D/ROADMAP
      • MERGERS/ACQUISITIONS/JOINT VENTURES/PARTNERSHIPS/AGREEMENT/COLLABORATION
    • COMPANY PROFILES
      • HITACHI LTD
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVE
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • GENERAL ELECTRIC COMPANY
        • OVERVIEW
        • PRODUCTS PORTFOLIO
        • STRATEGIC INITIATIVE
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • EXXON MOBIL CORPORATION
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVE
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • AFC ENERGY PLC
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVE
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • FUEL CELL ENERGY INC
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVES
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • HYDROGENICS CORPORATION
        • OVERVIEW
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • AISIN SEIKI CO LTD
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVES
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • BALLARD POWER SYSTEMS
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVE
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • BLOOM ENERGY CORPORATION
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVE
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • CERES POWER HOLDINGS PLC
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVE
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • PLUG POWER INC
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVES
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • SFC ENERGY AG
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVES
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • PANASONIC
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • TOYOTA MOTOR CORPORATION
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • STRATEGIC INITIATIVES
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS
      • TOSHIBA
        • OVERVIEW
        • PRODUCT PORTFOLIO
        • SCOT ANALYSIS
        • STRATEGIC ANALYSIS

TABLE LIST

TABLE 1 GLOBAL FUEL CELL MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 2 GLOBAL FUEL CELL MARKET BY TECHNOLOGY 2018-2026 ($ MILLION)

TABLE 3 GLOBAL SOLID OXIDE FUEL CELLS (SOFC) BY GEOGRAPHY 2018-2026 ($MILLION)

TABLE 4 GLOBAL PHOSPHORIC ACID FUEL CELLS (PAFC) MARKET BY GEOGRAPHY 2018-2026 ($MILLION)

TABLE 5 GLOBAL MOLTEN CARBONATE FUEL CELLS (MCFC) MARKET BY GEOGRAPHY 2018-2026 ($MILLION)

TABLE 6 GLOBAL DIRECT METHANOL FUEL CELLS (DMFC) SEGMENT MARKET BY GEOGRAPHY 2018-2026 ($MILLION)

TABLE 7 GLOBAL POLYMER/PROTON EXCHANGE MEMBRANE FUEL CELLS (PEMFC) MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 8 GLOBAL FUEL CELL MARKET BY APPLICATIONS 2018-2026 ($ MILLION)

TABLE 9 GLOBAL TRANSPORTATION FUEL CELL MARKET BY GEOGRAPHY 2018-2026 ($MILLION)

TABLE 10 GLOBAL STATIONARY FUEL CELL MARKET BY GEOGRAPHY 2018-2026 ($MILLION)

TABLE 11 GLOBAL PORTABLE FUEL CELL MARKET BY GEOGRAPHY 2018-2026 ($MILLION)

TABLE 12 INVESTMENT IN FUEL CELLS

TABLE 13 PROJECTED FCEVS ON ROAD TILL 2020

TABLE 14 GLOBAL FUEL CELL MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 15 NORTH AMERICA FUEL CELL MARKET BY COUNTRY 2018-2026 ($ MILLION)

TABLE 16 EUROPE FUEL CELLS MARKET BY COUNTRY 2018-2026 ($ MILLION)

TABLE 17 ASIA-PACIFIC FUEL CELL MARKET BY COUNTRY 2018-2026 ($ MILLION)

TABLE 18 ROW FUEL CELL MARKET BY REGION 2018-2026 ($ MILLION)

FIGURE LIST

FIGURE 1 GLOBAL FUEL CELL MARKET BY TECHNOLOGY 2018-2026 ($ MILLION)

FIGURE 2 ASIA PACIFIC FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 3 GLOBAL STATIONARY FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 4 GLOBAL POLYMER/PROTON EXCHANGE MEMBRANE FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 5 EVOLUTION OF FUEL CELLS

FIGURE 6 CUT IN FUEL COST DUE TO TECHNOLOGICAL INNOVATIONS $/KW (2002-2016)

FIGURE 7 GLOBAL SOLID OXIDE FUEL CELLS (SOFC) MARKET 2018-2026 ($ MILLION)

FIGURE 8 GLOBAL PHOSPHORIC ACID FUEL CELLS (PAFC) MARKET 2018-2026 ($ MILLION)

FIGURE 9 GLOBAL MOLTEN CARBONATE FUEL CELLS (MCFC) MARKET 2018-2026 ($ MILLION)

FIGURE 10 GLOBAL DIRECT METHANOL FUEL CELLS (DMFC) MARKET 2018-2026 ($ MILLION)

FIGURE 11 GLOBAL POLYMER/PROTON EXCHANGE MEMBRANE FUEL CELLS (PEMFC) MARKET 2018-2026 ($ MILLION)

FIGURE 12 GLOBAL TRANSPORTATION FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 13 GLOBAL STATIONARY FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 14 GLOBAL PORTABLE FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 15 PROJECTED HYDROGEN FUELING STATION TILL 2020

FIGURE 16 INVESTMENT PROPOSITION FOR GLOBAL FUEL CELL MARKET BY REGION – 2017

FIGURE 17 INVESTMENT PROPOSITION FOR FUEL CELL MARKET BY APPLICATION – 2017

FIGURE 18 UNITED STATES FUEL CELLS MARKET 2018-2026 ($ MILLION)

FIGURE 19 CANADA FUEL CELLS MARKET 2018-2026 ($ MILLION)

FIGURE 20 UNITED KINGDOM FUEL CELLS MARKET 2018-2026 ($ MILLION)

FIGURE 21 FRANCE FUEL CELLS MARKET 2018-2026 ($ MILLION)

FIGURE 22 GERMANY FUEL CELLS MARKET 2018-2026 ($ MILLION)

FIGURE 23 SPAIN FUEL CELLS MARKET 2018-2026 ($ MILLION)

FIGURE 24 REST OF EUROPE FUEL CELLS MARKET 2018-2026 ($ MILLION)

FIGURE 25 CHINA FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 26 INDIA FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 27 JAPAN FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 28 AUSTRALIA FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 29 SOUTH KOREA FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 30 REST OF ASIA-PACIFIC FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 31 LATIN AMERICA FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 32 MIDDLE EAST & AFRICA FUEL CELL MARKET 2018-2026 ($ MILLION)

FIGURE 33 GLOBAL FUEL CELL MARKET SHARE – 2016

  1. MARKET BY TECHNOLOGY
    • SOLID OXIDE FUEL CELLS (SOFC)
    • PHOSPHORIC ACID FUEL CELLS (PAFC)
    • MOLTEN CARBONATE FUEL CELLS (MCFC)
    • DIRECT METHANOL FUEL CELLS (DMFC)
    • POLYMER/PROTON EXCHANGE MEMBRANE FUEL CELLS (PEM)
  2. MARKET BY APPLICATION
    • TRANSPORTATION FUEL CELL
    • STATIONARY FUEL CELL
    • PORTABLE FUEL CELL
  3. KEY ANALYTICS
    • PORTERS 5 FORCE ANALYSIS
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE PRODUCTS
      • BARGAINING POWER OF BUYERS
      • BARGAINING POWER OF SUPPLIERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • VALUE CHAIN ANALYSIS
      • RAW MATERIAL SUPPLIERS
      • MANUFACTURERS
      • DISTRIBUTORS
      • END-USERS
    • KEY BUYING CRITERIA
      • PRICE
      • APPLICATION
      • EFFICIENCY OF THE SYSTEM
    • ESTIMATION ANALYSIS
      • INVESTMENTS IN FUEL CELL
      • ESCALATING NUMBER OF HYDROGEN REFUELING STATIONS
    • REGULATORY FRAMEWORK
    • PATENT ANALYSIS
      • UNITED STATES
      • EUROPE
      • JAPAN
    • INVESTMENT OUTLOOK
      • REGIONAL OUTLOOK
      • APPLICATIONS OUTLOOK
    • VENDOR LANDSCAPE
    • OPPORTUNITY MATRIX
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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