A fuel cell is an electrochemical device that combines hydrogen fuel with oxygen to produce electricity, heat, and water. The fuel cell is very similar to a battery, wherein an electrochemical reaction arises as long as fuel is available. Hydrogen is kept in a pressurized container and oxygen is taken from the air. Because of the absenteeism of combustion, there are no harmful emissions, and the only by-product is pure water. Hydrogen and fuel cells market is primarily driven by several factors such as high demand in the automotive, telecommunications, and residential Micro-CHP sectors and the reduced dependency on non-conventional energy sources. Some of the constraints such as the lesser durability of fuel cell hinder the growth of the market.
Emerging economies are greatly focusing on developing the hydrogen fuel cell technology and infrastructure to limit the carbon emission and meet the growing power demand in respective countries. Hydrogen fuel cell is presently at the development stage with government initiatives and R&D programmes across major economies. It can be concluded that a positive outcome through these research program will absolutely help the market grow in these emerging economies during the forecast period.
For the purpose of study, global hydrogen and fuel cells market has been segmented based on type, end-user, application, and region. Based on type, the market has been segmented into air-cooled type, and water-cooled type. Air-Cooled type accounted for the largest market share in 2016. Based on application, the market is segmented into stationary, transport and portable. Stationary application segment is the largest market share in 2016. Included in the stationary FC market are the main applications such as prime power, large CHP, residential CHP, and uninterrupted power supply (UPS).
The major players operating in the global hydrogen and fuel cells market are Panasonic Corporation (Japan), FuelCell Energy, Inc. (U.S.), Plug Power Inc. (U.S.), Intelligent Energy Holdings plc (U.K.), and Hyster-Yale Group (U.S.). Other major players are Ballard Power Systems. (Canada), Doosan Fuel Cell (U.S.), Nedstack fuel cell technology BV. (Netherlands), Hydrogenics Corporation (Canada), Pearl Hydrogen (China), and Horizon Fuel Cell Technologies (Singapore).
Objectives of Global Hydrogen and Fuel Cells Market Analysis & Forecast, 2017 – 2025
• To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the global Hydrogen and Fuel Cells market
• To provide insights about factors affecting the market growth
• To analyze the global hydrogen and fuel cells market based on various tools such as Supply Chain Analysis, and Porter’s Five Force Analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
• To provide country-level analysis of the market with respect to the current market size and future prospective
• To provide country-level analysis of the market for segments by type, application, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new technology developments, and research & development in the Hydrogen and Fuel Cells market
• Research Institute & education institute
• Potential investors
• Key executive (CEO and COO) and strategy growth manager
• Global Hydrogen and Fuel Cells market is estimated to reach USD 11,813.5 million by 2025.
• By type, Air-Cooled Type accounted for the largest market share of 62.84% in 2016, with a market value of USD 1,019.1 million, which is projected to grow at the highest CAGR of 25.80% during the forecast period.
• Based on application, stationary application accounted for the market share of 81.14% in 2016, with a market value of USD 1,315.9 million, which is projected to grow at the highest CAGR of 26.04%.
• Geographically, Americas has been projected to have the largest market share of 46.44% in the global Hydrogen and Fuel Cells market.
Regional and Country Analysis of global Hydrogen and Fuel Cells market Estimation and Forecast
Geographically, Americas region dominates the global hydrogen and fuel cells market. In the region, countries fuel cell deployments have been encouraged by federal research and development (R&D) and demonstration programs, and supported by federal tax incentives for FCVs, hydrogen infrastructure, and fuel cell stationary power generation. This drives the market. Asia Pacific is another major market for hydrogen and fuel cells. Rising population along with increasing disposable income in the region driving the demand for energy. Additionally, rapidly growing economies in the region are also the top polluters in the world. Hydrogen and Fuel Cell is recognized as the best replacement for other conventional fossil fuel energy sources that are used to reduce carbon emission by efficiently meeting the electricity needs. This drives the market in the Asia Pacific region. China, Japan, and South Korea are the key contributors in the region.
Table of Content: Key Points
1 Executive summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Hydrogen and Fuel Cells Market, By Type
7 Global Hydrogen and Fuel Cells Market, By Application
8 Global Hydrogen and Fuel Cells Market, By Region
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