Growing EV Market Accelerates Growth
Electric vehicles are expected to be a major driver for the fuel cell market in the coming years. The governments across the world have stressed on the use of electric vehicles, in order to reduce the pollution caused from the automotive sector. The policy-level initiatives result in huge penetration of electric vehicles, globally, which is expected to result in a massive expansion in the production electric vehicles. The batteries that are used to fuel electric vehicles need to be of high quality to render better performance. Fuel cell systems can be extremely efficient over a large range of sizes (from 1 kW to hundreds of megawatts). Some systems can achieve overall efficiencies of 80% or more when heat production is combined with power generation. Fuel cell systems integrated with hydrogen production and storage can provide fuel for vehicles. The fuel cell technologies can be implemented in power electric vehicles, which is anticipated to drive its market.
North America to Dominate the Market Growth
The North American region is expected to dominate the market, owing to increasing requirement of clean energy sources. The region is one of the major emitters of green-house gases on account of high level of consumption of energy, which is largely met by conventional sources of electricity coal and oil. The development of fuel cell technologies is expected to result in a widespread adoption of electric vehicles in the region. The governments in the North American countries have ambitious plans for the implementation of electric vehicles in the region. Therefore, with increasing requirements of clean energy sources and growing penetration of electric vehicles, the market for alkaline fuel cells is likely to expand.
Key Developments in the Market
- January 2018: Mitsubishi Hitachi Power Systems receives order for integrated fuel cell and gas turbine hybrid power generation system.
- January 2018: Nikola Motor Co. plans to build a USD 1 billion factory in a Phoenix suburb.
- November 2017: Siemens AG made USD 9 billion worth of agreement with Ballard Power Systems Inc. for the development of a zero-emission fuel cell engine to power Siemens’ Mireo light rail train project.
Reasons to Purchase this Report
- Identify the drivers, restraints, and opportunity possessed by the global alkaline fuel cell market, with in-depth analysis.
- Analyze the various perspectives of the market with the help of Porter’s five forces analysis.
- Identify the largest, fastest-growing, and significant regions during the forecast period.
- Identify the latest developments, market shares, and strategies employed by major market players.
- 3 months analyst support, along with the Market Estimate sheet (in excel).
2. Research Methodology
3. Market Overview
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
4. Market Dynamics
5. Value Chain Analysis
6. Porter's Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Intensity of Competitive Rivalry
7. Global Alkaline Fuel Cell Market Analysis, by Geography (Overview, Market Size, and Demand Forecast until 2023)
7.1 North America
7.1.1 United States
7.1.3 Rest of North America
7.2.5 Rest of Asia-Pacific
7.3.2 United Kingdom
7.3.4 Rest of Europe
7.4 Rest of the World
8. Key Company Analysis* (Overview, Business Segmentation, Financial Analysis**, Recent Development, and Analyst View)
8.1 DuPont Fuel Cell
8.2 Mitsubishi Hitachi Power Systems
8.3 Panasonic Corp.
8.4 Doosan Fuel Cell America
8.5 Polyfuel Inc.
8.6 Sharp Corp.
8.7 Toshiba Corp.
8.8 Ultracell Corp.
8.9 Fuelcell Energy
8.10 Bloom Energy Corp.
8.11 Ballard Power Systems Inc.
8.12 AFC Fuel cell
(*List of companies is not exhaustive. Please let us know if you are interested in any company profile)
9. Competitive Landscape
9.1 Mergers & Acquisitions
9.2 Joint Ventures, Collaborations, and Agreements
(**Subject to availability on public domain)
- Dupont Fuel Cell
- Mitsubishi Hitachi Power Systems
- Panasonic Corp.
- Doosan Fuel Cell America
- Polyfuel Inc.
- Sharp Corp.
- ToshIBA Corp.
- Ultracell Corp.
- Fuelcell Energy
- Bloom Energy Corp.
- Ballard Power Systems Inc.
- AFC Fuel cell