Selbyville, Delaware, Sept. 01, 2021 (GLOBE NEWSWIRE) --
The global fuel cell market size is expected to cross US$ 9 billion by 2030, according to latest Global Market Insights Inc. report. Increasing awareness of energy-efficient transport along with the implementation of sustainable policies comprising subsidies & tax rebates for FCEVs and their charging infrastructure is boosting. Robust funding from both private & public parties to develop hydrogen structures while offering various incentives to the buyers to expand their geographical presence is set to drive the industry dynamics.
Accelerating demand for power owing to increasing government focus toward industrialization and commercialization will favor the stationary fuel cell market share. Severe weather conditions have resulted in soaring requirements for space heating across commercial and residential establishments, such as hospitals, data centers, schools & hotels, which are set to augment the industry potential.
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The sudden occurrence of the COVID-19 pandemic has halted manufacturing operations, leading to delayed production processes along with stagnancy in several oil projects. Major economies including Germany, France, and the U.S. have utilized this chance to shift toward clean fuel. This inclination has stimulated the industry players to offer rebates & incentives to the end-users and develop hydrogen infrastructure to support the rising electrification process, thereby strengthening their product deployment.
PEMFC fuel cells will gain an appreciable momentum owing to constant demand for uninterrupted power supply across off grid & remote locations accompanied by enhanced sales of fuel cell electric vehicles. High efficiency, lightweight, dynamic & high-power density are a few important characteristics, which will propel product adoption. Moreover, the mounting usage of these vehicles across diverse applications comprising material handling & good transportation to ports will further support market growth.
Rising commercial and residential infrastructure development along with advancements and innovations in the FC technology will propel the Asia Pacific fuel cell market growth. The region has a strong automotive sector supported by growing manufacturing industry in countries including India, South Korea, Japan & China, which is set to further complement product deployment. Rising customer awareness along with the establishment of various targets to curb pollution or emission will boost the fuel cell market size.
Some key findings of the fuel cell market report include:
- The fuel cell infrastructure industry is growing swiftly owing to large-scale installations across the commercial establishments.
- Reducing dependency on diesel, oil, and non-conventional energy sources along with the rising awareness of low carbon emissions.
- An escalating need for large-scale multi-megawatt systems and power grid networks to supply electricity in remote areas will complement the stationary fuel cell market size.
- Accelerating interest in heavy-duty transport & energy storage applications is projected to create substantial opportunities leading to fuel cell market growth.
- Eminent players operating across the fuel cell market include Cummins, Ballard Power, SFC Energy, Plug Power, FuelCell Energy, and Bloom Energy among others.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Fuel cell industry 360⁰ synopsis, 2017 – 2030
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Fuel Cell Industry Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.2.1 Vendor matrix
3.3 Innovation & technology landscape
3.3.1 Hyundai Motor Company
3.3.2 NUVERA FUEL CELLS, LLC
3.3.3 SFC Energy
3.3.4 FuelCell Energy, Inc.
3.3.5 AFC Energy
3.3.6 Ballard Power Systems
3.3.7 Plug Power
3.4 Regulatory landscape
3.4.1 U.S.
3.4.1.1 Fuel Cell and Hydrogen Energy Association (FCHEA)
3.4.1.1.1 Safety, Codes & Standards
3.4.1.2 CSA Fuel Cell Standards
3.4.1.3 SAE Fuel Cell Vehicle Safety Committee (automotive) enabling standards
3.4.1.4 NFPA 2: Hydrogen Technologies Code
3.4.1.5 Overview of Regulations, Codes, and Standards Related to Hydrogen Infrastructure Safety
3.4.2 Europe
3.4.2.1 Investments: Government and Collaborative Hydrogen and Fuel Cell Funding
3.4.3 Japan
3.4.3.1 Investments: Government and Collaborative Hydrogen and Fuel Cell Funding
3.4.3.2 Government Targets
3.4.4 South Korea
3.4.4.1 Government Targets
3.5 Hydrogen fuelling stations across the U.S. (2018 & 2019)
3.5.1 Projected hydrogen fuelling stations across the U.S.
3.6 COVID– 19 impact on the industry outlook
3.6.1 Optimistic view
3.6.2 Realistic view
3.6.3 Pessimistic view
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 Porters Analysis
3.9.1 Bargaining power of suppliers
3.9.2 Bargaining power of buyers
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.10 Announced hydrogen stations across key countries
3.10.1 Australia
3.10.2 Canada
3.10.3 China
3.10.4 Denmark
3.10.5 England
3.10.6 France
3.10.7 Germany
3.10.8 Japan
3.10.9 South Korea
3.11 Competitive landscape, 2020
3.11.1 Strategy dashboard
3.11.1.1 AFC Energy PLC
3.11.1.1.1 Partnership
3.11.1.1.2 Memorandum of Understanding
3.11.1.1.3 Facility plant
3.11.1.1.4 Product Launch
3.11.1.2 Ballard Power Systems
3.11.1.2.1 Agreement
3.11.1.2.2 Project Expansion
3.11.1.2.3 Memorandum of Understanding
3.11.1.2.4 Order
3.11.1.2.5 Plants
3.11.1.2.6 Partnership
3.11.1.3 FuelCell Energy
3.11.1.3.1 Order
3.11.1.3.2 Project
3.11.1.3.3 Agreements
3.11.1.3.4 Business Strategy
3.11.1.3.5 Product Upgradation
3.11.1.3.6 Plant
3.11.1.4 SFC Energy
3.11.1.4.1 Agreement
3.11.1.4.2 Market Expansion
3.11.1.4.3 Partnership
3.11.1.4.4 Order
3.11.1.5 Plug Power
3.11.1.5.1 Joint venture
3.11.1.5.2 Agreement
3.11.1.5.3 Partnerships
3.11.1.5.4 Production Facility
3.11.1.5.5 Contract
3.11.1.5.6 Acquisition
3.11.1.5.7 Collaboration
3.11.1.5.8 Product launch
3.11.1.6 Ceres
3.11.1.6.1 Agreement
3.11.1.6.2 Joint Venture
3.11.1.6.3 Manufacturing Plant
3.11.1.7 Doosan Fuel Cell Co., Ltd.
3.11.1.7.1 Memorandum of Understanding
3.11.1.7.2 Power Plant
3.11.1.7.3 Manufacturing Facility
3.11.1.8 NUVERA FUEL CELLS, LLC.
3.11.1.8.1 Supply Order
3.11.1.9 Bloom Energy
3.11.1.9.1 Manufacturing Facility
3.11.1.10 Toshiba Corporation
3.11.1.10.1 Agreement
3.11.1.10.2 Manufacturing Plant
3.11.1.11 Panasonic Corporation
3.11.1.11.1 Product Demonstration
3.11.1.12 Cummins
3.11.1.12.1 Manufacturing Plant
3.11.1.12.2 Acquisition
3.11.1.12.3 Order
3.11.1.12.4 Collaboration
3.11.1.13 Nedstack Fuel Cell Technology BV
3.11.1.13.1 Partnership Agreement
3.11.1.14 Hyundai Motor Company
3.11.1.14.1 Manufacturing Facility
3.11.1.14.2 Contract
3.11.1.14.3 Brand Launch
3.11.1.14.4 Market Expansion
3.12 PESTEL Analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
