Global fuel cell market stood at
around $ 2 billion in 2017 and is forecast to grow at a CAGR of over 18% to surpass
$ 5 billion by 2023, owing to increasing public-private partnership for
development of fuel cell technology and rising demand for fuel cell powered
vehicles, including FCEV (Fuel Cell Electric Vehicles), forklift, trains, etc.
Moreover, rising research & development on fuel cell technology along with increasing
focus on reducing carbon emissions is further fueling demand for fuel cells
across the globe. Additionally, fuel
cell & hydrogen alliances driving collaboration between organizations coupled
with increasing focus on phasing out of ICE (Internal Combustion Engine) vehicles
is further anticipated to accelerate growth in global fuel cell market in the next
five years.
Years considered
for this report:
Historical Years: 2013-2016
Base Year: 2017
Estimated Year: 2018
Forecast Period: 2019–2023
Objective of the Study:
- To
define, classify and forecast global fuel cell market
on the basis of application, type and region.
- To
analyze and forecast global fuel cell market size.
- To
assess the detailed market segmentation and forecast the market size by
segmenting the fuel cell market into regions, namely – Asia-Pacific, North
America, Europe and Rest of World.
- To
identify the tailwinds and headwinds for global fuel cell market.
- To
identify the drivers and challenges for global fuel cell market.
- To
strategically profile leading players in the market which are driving
innovation and technological advancements in global fuel cell market.
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Global fuel cell market is
controlled by these major players, namely – Bloom Energy Corporation, Ballard
Power Systems Inc., Plug Power Inc., FuelCell Energy, Inc., SFC Energy AG,
Hydrogenics Corporation, Doosan Fuel Cell America, Inc., Toshiba Energy Systems
& Solutions Corporation, Intelligent Energy Limited, Nedstack fuel cell
technology BV, etc.
TechSci
Research performed exhaustive secondary research as well as primary research
for this study. Initially, TechSci Research sourced a list of fuel cell companies
across the globe. Subsequently, TechSci Research conducted primary research
surveys with the identified companies. While interviewing, the respondents were
also enquired about their competitors. Through this technique, TechSci Research
was able to include the providers which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the product
offerings, distribution channels, and presence of all major fuel cell companies
worldwide.
TechSci
Research calculated the market size for fuel cell market using a bottom-up
approach, wherein data for
different components of standard application (Application, such as Stationary Fuel
Cell, Transport Fuel Cell & Portable Fuel Cell and Type, Proton Exchange
Membrane (PEM) Fuel Cell, Solid Oxide Fuel Cell, Molten Carbonate Fuel Cell,
etc.) was recorded and forecast for the future years. TechSci Research sourced
these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as Company Website, News Articles, Press Releases,
Company Annual Report, Factiva, International Monetary Fund, World Bank,
California Air Resources Board, Canadian Hydrogen and Fuel Cell Association
(CHFCA), US Department of Energy, Fuel Cell & Hydrogen Energy Association,
The International Partnership for Hydrogen and Fuel Cells in the Economy
(IPHE), etc., were also studied by TechSci Research.
Key
Target Audience:
- Fuel
cell vendors
- Fuel
cell equipment OEMs
- Associations,
organizations, forums and alliances related to fuel cell
- Research
organizations and consulting companies
The study is useful in providing answers to
several critical questions that are important for the industry stakeholders
such as fuel cell OEMs, providers, partners, etc. The report also provides
useful insights about which market segments should be targeted over the coming
years in order to strategize investments and capitalize on growth
opportunities.
Report Scope:
In this report, global fuel cell market has been segmented into the
following categories in addition to the industry trends which have also been
detailed below:
- Market, by Application:
- Stationary
Fuel Cell
- Transport
Fuel Cell
- Portable
Fuel Cell
- Market,
by Application:
- Proton
Exchange Membrane (PEM) Fuel Cell
- Solid
Oxide Fuel Cell
- Molten
Carbonate Fuel Cell
- Others
- Market,
by Geography:
- Asia-Pacific
- Japan
- South Korea
- China
- India
- Australia
- Rest of Region
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Region
Competitive Landscape
Company Profiles: Detailed analysis of
the major companies present in global fuel cell market.
Available Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Additional Customization:
·
Profiling of additional market players (up to five)
In
case you can’t find what you are looking for, then please get in touch with our
custom research team at sales@techsciresearch.com