Le Lézard
Classified in: Oil industry
Subject: MRR

Fuel Cell Market size to Reach USD 1584.77 MW Globally by 2025|Evolving Opportunities with Aisin Corp & Ballard Powe Systems| Technavio


NEW YORK, June 15, 2022 /PRNewswire/ -- The fuel cell market is to grow by 1584.77 MW from 2020 to 2025. However, the growth momentum is likely to decelerate at a CAGR of 23.44% as per the latest market report by Technavio. Aisin Corp, Ballard Power Systems Inc., Bloom Energy Corp., Doosan Corp., FuelCell Energy Inc., Fuji Electric Co. Ltd., Mitsubishi Heavy Industries Ltd., Plug Power Inc., PowerCell Sweden AB, and SFC Energy AG are some of the major market participants.

Fuel Cell Market 2021-2025: Scope

 Our fuel cell market report covers the following areas:

Fuel Cell Market 2021-2025: Market Dynamics

Drivers: The key factor driving the fuel cell market growth is the growing demand for efficient and clean energy sources. Fossil fuels are the most dominant source of electricity generation globally. For instance, coal-generated electricity accounted for 38.40% of the total electricity generated in 2016, according to the International Energy Agency (IEA) Key World Energy Statistics 2018. Other than electricity generation, coal is also predominantly used for heat generation. As a result, coal is one of the highest contributors to global CO2 emissions, which has a high negative impact on the environment. 

Trends: The major trend driving the fuel cell market growth is the increasing R&D activities. Systems that use fuel cells have higher upfront costs than other alternative technologies. Hence, capital cost forms one of the critical factors for product selection, which might hinder the adoption of fuel cell systems. However, fuel cells have immense potential to support the transition toward clean energy production. Thus, extensive R&D programs have been initiated by governments of countries such as South Korea, Germany, Japan, the US, and the UK for reducing the cost and increasing the deployment of fuel cells

Challenges: High cost of fuel cells is one of the key challenges hindering the fuel cell market growth. Fuel cells have been in use for decades and were initially used to power space missions during the 1960s. Fuel cells for commercial and industrial locations were developed during the 1990s. However, they have not been able to penetrate the market due to their lower end-user acceptance compared with other technologies such as batteries. Though fuel cells have higher efficiency and environmental benefits, they were not fully commercialized. However, the cost is still a primary factor affecting the acceptance of the technology, as both a fuel cell system and its fuel are expensive when compared with alternative technologies such as gas generators and lithium-ion batteries.

Fuel Cell Market 2021-2025: Segmentation Analysis

To know about the market contribution of each segment - Download a sample now!

Get ready to achieve excellent business outcomes from this exclusive Fuel Cell Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -

The competitive scenario provided in the Fuel Cell Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Fuel Cell Market Forecast Report -  Buy Now!

Related Reports:

Fuel Cell Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 23.44%

Market growth 2021-2025

1584.77 MW

Market structure

Fragmented

YoY growth (%)

27.15

Performing market contribution

Americas at 56%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Aisin Corp, Ballard Power Systems Inc., Bloom Energy Corp., Doosan Corp., FuelCell Energy Inc., Fuji Electric Co. Ltd., Mitsubishi Heavy Industries Ltd., Plug Power Inc., PowerCell Sweden AB, and SFC Energy AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Market Segmentation by Application

7 Customer landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


These press releases may also interest you

at 14:12
Transmission and Resource Planning Expert Akarsh Sheilendranath Rejoins The Brattle Group as Principal
The Brattle Group has welcomed Akarsh Sheilendranath to its Boston, MA office as a Principal in the firm's Electricity Wholesale Markets & Planning practice. Mr. Sheilendranath, who previously worked at Brattle and will be based in Houston,...

at 14:02
EPA Awards Funding to Partners ASES and CGC to Deploy Solar in Tribal Lands in North and South Dakota
In celebration of Earth Week, the American Solar Energy Society (ASES) is excited to announce with its partner, the Coalition for Green Capital, that it will be assisting the EPA Solar for All program in North and South Dakota deploying solar in...

at 13:34
Cumberland County Approves Hecate Energy's 150 MW Solar Energy Facility in Virginia
Hecate Energy, a top-ten U.S. developer, owner and operator of renewable power projects and energy storage solutions, today announced approval of the Siting Agreement and Conditional Use Permit application for the planned 150-megawatt (MW) Cumberland...

at 13:34
TotalEnergies Begins Construction of 12 MW Solar Project at New York's JFK Airport
TotalEnergies has begun construction of New York State's largest onsite solar generating and storage system at John F. Kennedy (JFK) International Airport in partnership with the Port Authority of New York and New Jersey (PANYNJ) and the New York...

at 13:15
Pacific Power Source Launches a New Regenerative Series of High Performing, Flexible, and Intelligent AC/DC Power Sources and Electronic Loads
Pacific Power Source, a leading global provider of AC & DC power test solutions, announces its regenerative product line to support the growing demand in electrification including the: All-in-1 AGX Regenerative AC/DC Source, 2-in-1 RGS...

at 13:11
Two Bills Holding Community Oil Drillers Accountable Advance To Appropriations Committee, Says Consumer Watchdog
Assembly Bill 3155 (Friedman), which creates new financial liability for oil producers for harm from community oil drilling, cleared its second policy committee today and now moves to the Assembly Appropriations Committee. The bill passed out of the...

More news about Oil industry...


News published on and distributed by: