Thriving demand of fuel cells market in the transportation sector is the key driver for rapid growth. Asia Pacific region is expected to lead market share of fuel cells industry by > 20% CAGR value during 2019-2026
— Tangible commitment towards environment protection continues to accelerate reliance on fuel cells. Chief characteristic traits of fuel cells such as reduced noise generation is a potential growth backer. Additionally, these cells chiefly generate hydro and thermal by-products thereby reducing environmental concerns. Factors as such are likely to influence substantial growth in global fuel cell market in the forthcoming years.
Get Research Insights @ Global Fuel Cell Market, 2019-2026 (USD Billion)
Unlike conventional batteries which have a definite life, fuel cells run indefinitely and on a constant energy source such as hydrogen. Tremendous rise in energy requirements and large scale developments across end-use industries such as utilities and telecom are rife to bolster rampant adoption allowing global fuel cells market to scale growth.
Advances in electric vehicles on the back of depleting energy sources have accentuated reliance on fuel cells. Besides, other industrial applications such as provisional power back-up source are likely to further emulate healthy growth ratios.
According to Adroit Market Research's (AMR) recent market report on fuel cells, under the title, 'Global Fuel Cell Market By Product, Application and Region, Forecast 2019-26' the global fuel cell market has amassed a value of USD 2.5 Bn in 2018 and is projected to attain USD 11.54 Bn by 2016 at a CAGR of over 20%.
Spike in power requirements comprising HVAC systems across regions, also contributing towards emissions is a burning concern. The overall energy requirements rose by 2%, according to a new report by Internationals Energy Agency. These factors are likely to catapult hefty growth in global fuel cells market.
Read our Latest Fuel Cells Market Report for more Professional Industry Insights @ https://www.adroitmarketresearch.com/industry-reports/fuel-cell-market
Ceres Power Expands Operations on Japan with Joint Venture with Miura Co.
Leading players in global fuel cells market are integrating resources to trigger product differentiation. M&A ventures as well as product line expansion remain primary growth strategies amongst prominent market players.
In a recent development, ace fuel cell technology company Ceres Power, noted for its SOFC technology has in a recent business venture partnered with Japan based industrial boiler manufacturer, Miura Co. for Japan's maiden Ceres Technology based fuel cell product inauguration. The product in a high end CHP (combined heat and power) fuel cell assembly aimed to ease commercial applications across Japan. Japan is a prominent market for fuel cells and this joint venture is expected to benefit Ceres' global expansion objectives. With such developments in place, the global fuel cell market is poised to approach bullish growth.
Other big names in global fuel cells market comprise Panasonic, Toshiba, Arcola Energy, UTC Power Corporation, Ceramic Fuel Cells, and SFC Energy AG amongst others.
Global Fuel Cell Industry to Attract Automotive Sector in 2019
• Hyundai is all set to make the sale of its new Nexo-fuel-cell vehicle. The model is available in Blue and Limited edition with the Blue edition costing USD 59,345 and edition Limited USD 62,845. Furthermore, buyers will also get hydrogen fueling cards of worth USD 13,000.
• Toyota introduced semi-trucks operating on hydrogen fuel cell in a CES show organized by Consumer Technology Association
• PACCAR's Kenworth and Toyota have entered into a joint project to build Class 8 hydrogen fuel-cell semi tractors.
HTFC Based Fuel Cell Segment Likely to Witness Maximum Adoption
The report lends elaborate understanding on market dynamics, such as drivers, trends, threats, and challenges that propel growth curve in global fuel cells market. Additionally a brief on market segmentation has also been included in the report on the basis of which global fuel cells market is diversified into product and application. By application, portable, stationary, and transportation are core segments. Based on product the market is further segregated into LTFC and HTFC amongst others. HTFC based fuel cell segment likely to witness maximum adoption owing to its CHP compatibility.
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Key segments of the global fuel cell market report
Product Overview, 2015-2026 (USD Million)
• Low Temperature Fuel Cells (LTFC)
• Proton-exchange membrane fuel cell (PEMFC)
• Direct methanol fuel cell (DMFC)
• Alkaline Fuel Cell (AFC)
• High Temperature Fuel Cells (HTFC)
• Phosphoric acid fuel cell (PAFC)
• Molten carbonate fuel cell (MCFC)
• Solid oxide fuel cell (SOFC))
Application Overview, 2015-2026 (USD Million)
Regional Overview, 2015-2026 (USD Million)
• North America
• Asia Pacific
• New Zealand
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
Grasp advance knowledge on Global Fuel Cell Industry through in-depth Blogs, White Paper & Infographics:
Access the White Paper “Life Cycle And Economic Modelling Of Fuel Cell”
Read the in depth blog titled “Fuel Cells, Overview, Advantages And Disadvantages”
Some Major Points from Table of Contents
Chapter 1 Executive Summary
Chapter 2 Research Methodology
Chapter 3 Market Outlook
Chapter 4 Porters Five Force Analysis
Chapter 5 Global Fuel Cell Market, By Application
Chapter 6 Global Fuel Cell Market Overview, By Product
Chapter 7 Global Fuel Cell Market Overview, By Geography
Chapter 8 Industry Structure
Chapter 9 Company Profiles
What does the report include?
• The market research report offers a comprehensive outlook of the fuel cell sector.
• Qualitative and quantitative analysis of the market segmented on the basis of type, product and application.
• Historic, current, and forecast data is provided for all the market segments for each geography and key countries mentioned in the table of contents.
• The study includes detailed profiles of key participants of the market based on product offerings, geographical presence, financial performance and recent initiative.
Adroit Market Research is a global based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues.
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Release ID: 88890317