Global Fuel Cell Market 2019-2027 - Research and Markets

Market Outlook

The market of global fuel cell shows the potential to grow at 18.03% of CAGR over the period of 2019-2027.

Fuels cells are the power generating devices that are emerging globally due to the rising consciousness and demand for cleaner energy generating systems. The system produces electricity by chemical reactions and without combustion, thereby eliminating the risk of release of carbon dioxide and other toxic elements into the environment. The production of hydrogen in the process with the help of renewable resources makes the device more environment-friendly. Rising application of fuel cell in various industrial verticals and enhanced efficiency due to its use elevates the market globally.

The fuel cell market is classified based on the type of fuel cells and applications. Depending upon its applications, the market is segmented into the transportation sector, stationary segments like power plants, telecom companies, and portable segment like consumer charger. The increasing adoption of electric vehicles and plug-in hybrid vehicles in transportation due to pollution concern are driving the market globally.

Regional Outlook

Geographically, the fuel cell market is segmented across five regions, namely Europe, North America, Latin America, Asia Pacific, Middle East and Africa. The North America region is expected to develop and expand the market due to its favorable government norms & policies and rising investments. Developments of automotive and power generation sectors fuels the market in the region. The European region is expected to provide massive fuel cell market due to strict government regulations regarding toxic elements and carbon emissions. The environment standards of the area complied companies to adopt fuels cells, hence expanding its market. The Asia Pacific region is the fastest growing market for fuel cells due to increasing adoption of fuel cell electric vehicles and developing automotive sectors.

Competitive Outlook

The dominant players operating in the market are Toshiba Corporation, Hitachi Ltd, General Electric Company, Hydrogenics Corporation, FuelCell Energy Inc., Doosan Corporation, Plug Power Inc., Aisin Seiki Co Ltd, Ceres Power Holdings Plc, SFC Energy AG, Ballard Power Systems, Exxon Mobil Corporation, AFC Energy Plc, and Bloom Energy Corporation.

The key manufacturing companies using various strategies pose a high level of entry barriers for new entrants into the market and enhance its competitive nature.

1. Global Fuel Cell Market - Summary

2. Industry Outlook

2.1. Market Definition
2.2. Key Insights
2.2.1. Promising Investments in Fuel Cell
2.2.2. Increasing Number of Partnerships Between Public & Private Companies
2.2.3. Growing Application of Fuel Cell in EV’s, HEV’s & PHEV’s
2.2.4. Proactive Involvement of Universities, Government Organizations & Companies in R&D
2.3. Porters Five Force Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitute
2.3.3. Bargaining Power of Suppliers
2.3.4. Bargaining Power of Buyers
2.3.5. Threat of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Industry Components
2.6.1. Raw Material Suppliers
2.6.2. Manufacturers
2.6.3. Distributors
2.6.4. End-Users
2.7. Key Impact Analysis
2.7.1. Cost
2.7.2. Application
2.7.3. Efficiency
2.8. Regulatory Framework
2.9. Industry Player Positioning
2.10. Market Drivers
2.10.1. Benefits Offered by Fuel Cells Over Other Power Generating Systems
2.10.2. Growing Demand For Efficient & Cleaner Technologies
2.10.3. Rapid Integration of Fuel Cell Technology in Automobiles
2.11. Market Restraints
2.11.1. Issues With Durability of Fuel Cell Technology
2.11.2. High Capital Cost of Fuel Cells
2.12. Market Opportunities
2.12.1. Declining Prices of Fuel Cells & Fcv’s
2.12.2. Growing Number of Hydrogen Refuelling Stations
2.13. Market Challenges
2.13.1. Availability of Alternative Technologies
2.13.2. Lack of Fuel Infrastructure

3. Global Fuel Cell Industry Outlook - by Application

3.1. Transportation
3.2. Stationary
3.3. Portable

4. Global Fuel Cell Industry Outlook - by Type

4.1. Solid Oxide Fuel Cells (Sofc)
4.2. Phosphoric Acid Fuel Cells (Pafc)
4.3. Molten Carbonate Fuel Cells (Mcfc)
4.4. Proton Exchange Membrane Fuel Cells (Pemfc)
4.5. Other Fuel Cells

5. Global Fuel Cell Industry – Regional Outlook

5.1. North America
5.1.1. Market by Application
5.1.2. Market by Type
5.1.3. Country Analysis
5.1.3.1. United States
5.1.3.2. Canada
5.2. Europe
5.2.1. Market by Application
5.2.2. Market by Type
5.2.3. Country Analysis
5.2.3.1. United Kingdom
5.2.3.2. Germany
5.2.3.3. France
5.2.3.4. Spain
5.2.3.5. Italy
5.2.3.6. Russia
5.2.3.7. Rest of Europe
5.3. Asia Pacific
5.3.1. Market by Application
5.3.2. Market by Type
5.3.3. Country Analysis
5.3.3.1. China
5.3.3.2. Japan
5.3.3.3. India
5.3.3.4. South Korea
5.3.3.5. Asean Countries
5.3.3.6. Australia & New Zealand
5.3.3.7. Rest of Asia Pacific
5.4. Latin America
5.4.1. Market by Application
5.4.2. Market by Type
5.4.3. Country Analysis
5.4.3.1. Brazil
5.4.3.2. Mexico
5.4.3.3. Rest of Latin America
5.5. Middle East & Africa
5.5.1. Market by Application
5.5.2. Market by Type
5.5.3. Country Analysis
5.5.3.1. United Arab Emirates
5.5.3.2. Turkey
5.5.3.3. Saudi Arabia
5.5.3.4. South Africa
5.5.3.5. Rest of Middle East & Africa

6. Competitive Landscape

6.1. Hitachi Ltd
6.2. General Electric Company
6.3. Exxon Mobil Corporation
6.4. Afc Energy Plc
6.5. Fuelcell Energy Inc
6.6. Hydrogenics Corporation
6.7. Aisin Seiki Co Ltd
6.8. Ballard Power Systems
6.9. Bloom Energy Corporation
6.10. Ceres Power Holdings Plc
6.11. Plug Power Inc
6.12. Sfc Energy Ag
6.13. Panasonic Corporation
6.14. Toyota Motor Corporation
6.15. Toshiba Corporation

7. Research Methodology & Scope

7.1. Research Scope & Deliverables
7.2. Sources of Data
7.3. Research Methodology

Table List

Table 1: Global Fuel Cell Market, by Geography, 2019-2027 (In $ Million)
Table 2: Prominent Investment in Fuel Cells
Table 3: Fuel Cell Technologies Office R&D Budget in United States, 2015-2017 ($ Millions)
Table 4: Vendor Scorecard
Table 5: Regulatory Framework
Table 6: Typical Stack Size of Different Fuel Cell Technologies
Table 7: Energy Conversion Efficiency of Different Energy Sources
Table 8: Estimated Number of Fcev’s On Road in Key Geographies, 2014- 2020
Table 9: Global Fuel Cell Market, by Application, 2019-2027, (In $ Million)
Table 10: Global Fuel Cell Market, by Type, 2019-2027, (In $ Million)
Table 11: Global Fuel Cell Market, by Geography, 2019-2027, (In $ Million)
Table 12: North America Fuel Cell Market, by Country, 2019-2027 (In $ Million)
Table 13: North America Fuel Cell Market, by Application, 2019-2027 (In $ Million)
Table 14: North America Fuel Cell Market, by Type, 2019-2027 (In $ Million)
Table 15: Europe Fuel Cell Market, by Country, 2019-2027 (In $ Million)
Table 16: Europe Fuel Cell Market, by Application, 2019-2027 (In $ Million)
Table 17: Europe Fuel Cell Market, by Type, 2019-2027 (In $ Million)
Table 18: Asia Pacific Fuel Cell Market, by Country, 2019-2027 (In $ Million)
Table 19: Asia Pacific Fuel Cell Market, by Application, 2019-2027 (In $ Million)
Table 20: Asia Pacific Fuel Cell Market, by Type, 2019-2027 (In $ Million)
Table 21: Latin America Fuel Cell Market, by Country, 2019-2027 (In $ Million)
Table 22: Latin America Fuel Cell Market, by Application, 2019-2027 (In $ Million)
Table 23: Latin America Fuel Cell Market, by Type, 2019-2027 (In $ Million)
Table 24: Middle East & Africa Fuel Cell Market, by Country, 2019-2027 (In $ Million)
Table 25: Middle East & Africa Fuel Cell Market, by Application, 2019-2027 (In $ Million)
Table 26: Middle East & Africa Fuel Cell Market, by Type, 2019-2027 (In $ Million)

Figure List

Figure 1: Global Fuel Cell Market, by Application, 2018 & 2027 (In %)
Figure 2: Netl’s Sofc Program
Figure 3: Fuel Cell Components R&D in China
Figure 4: Market Attractiveness Index
Figure 5: Industry Components
Figure 6: Key Impact Analysis
Figure 7: Industry Player Positioning in 2018 (In %)
Figure 8: Fuel Cell System Costs ($)
Figure 9: Estimated Number of Hydrogen Fueling Stations in Key Geographies, 2014-2020
Figure 10: Global Fuel Cell Market, by Transportation, 2019-2027 (In $ Million)
Figure 11: Global Fuel Cell Market, by Stationary, 2019-2027 (In $ Million)
Figure 12: Global Fuel Cell Market, by Portable, 2019-2027 (In $ Million)
Figure 13: Global Fuel Cell Market, by Solid Oxide Fuel Cells (Sofc), 2019-2027 (In $ Million)
Figure 14: Global Fuel Cell Market, by Phosphoric Acid Fuel Cells (Pafc), 2019-2027 (In $ Million)
Figure 15: Global Fuel Cell Market, by Molten Carbonate Fuel Cells (Mcfc), 2019-2027 (In $ Million)
Figure 16: Global Fuel Cell Market, by Proton Exchange Membrane Fuel Cells (Pemfc), 2019-2027 (In $ Million)
Figure 17: Global Fuel Cell Market, by Other Fuel Cells, 2019-2027 (In $ Million)
Figure 18: Global Fuel Cell Market, Regional Outlook, 2018 & 2027 (In %)
Figure 19: United States Fuel Cell Market, 2019-2027 (In $ Million)
Figure 20: Canada Fuel Cell Market, 2019-2027 (In $ Million)
Figure 21: United Kingdom Fuel Cell Market, 2019-2027 (In $ Million)
Figure 22: Germany Fuel Cell Market, 2019-2027 (In $ Million)
Figure 23: France Fuel Cell Market, 2019-2027 (In $ Million)
Figure 24: Spain Fuel Cell Market, 2019-2027 (In $ Million)
Figure 25: Italy Fuel Cell Market, 2019-2027 (In $ Million)
Figure 26: Russia Fuel Cell Market, 2019-2027 (In $ Million)
Figure 27: Rest of Europe Fuel Cell Market, 2019-2027 (In $ Million)
Figure 28: China Fuel Cell Market, 2019-2027 (In $ Million)
Figure 29: Japan Fuel Cell Market, 2019-2027 (In $ Million)
Figure 30: India Fuel Cell Market, 2019-2027 (In $ Million)
Figure 31: South Korea Fuel Cell Market, 2019-2027 (In $ Million)
Figure 32: Asean Countries Fuel Cell Market, 2019-2027 (In $ Million)
Figure 33: Australia & New Zealand Fuel Cell Market, 2019-2027 (In $ Million)
Figure 34: Rest of Asia Pacific Fuel Cell Market, 2019-2027 (In $ Million)
Figure 35: Brazil Fuel Cell Market, 2019-2027 (In $ Million)
Figure 36: Mexico Fuel Cell Market, 2019-2027 (In $ Million)
Figure 37: Rest of Latin America Fuel Cell Market, 2019-2027 (In $ Million)
Figure 38: United Arab Emirates Fuel Cell Market, 2019-2027 (In $ Million)
Figure 39: Turkey Fuel Cell Market, 2019-2027 (In $ Million)
Figure 40: Saudi Arabia Fuel Cell Market, 2019-2027 (In $ Million)
Figure 41: South Africa Fuel Cell Market, 2019-2027 (In $ Million)
Figure 42: Rest of Middle East & Africa Fuel Cell Market, 2019-2027 (In $ Million)