Fuel Cell Market by Type (PEMFC, SOFC, PAFC, MFC, DMFC, AFC), Application (Portable, Stationary, Vehicles (FCV)), Size (Small & Large), End User (Residential, C&l, Transportation, Data Center, Military & Defense, Utility), Region - Global Forecast to 2027
The global fuel cell market size was valued at $2.9 billion in 2022 and to reach $9.1 billion in 2027, growing at a compound annual growth rate (CAGR) of 26.0% from 2022 to 2027.
Shifting of focus towards clean and renewable energy to reduce the carbon emission by regional governments; Subsidizing the R&D works on fuel cell technology by government; Increase demand of fuel cell vehicles across the globe are likely to drive the fuel cell market. Asia Pacific is estimated to be the largest market from 2022 to 2027 and is expected to see a high demand for fuel cell due to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation.
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Fuel Cell Market Dynamics
Driver: Stringent carbon emission norms across the globe
With political leaders across the global coming together to reduce their country’s carbon footprint and signing of Paris agreement has given a boost to green and renewable technologies to set themselves in markets. Fuel cells being a non-emission solution for power generation fits the category green and renewable technologies and is growing owing to the carbon emission norms.
Restraint: High cost of catalyst used in fuel cells
Some of the most common fuel cells are DMFC, PAFC, and PEM, which rely on rare-earth metals, such as platinum, to enhance the reaction rate. Rare-earth metals are expensive, and their use increases the overall cost of the fuel cell. The cost of platinum, according to the same report, was nearly USD 1,500 per troy ounce. The cost of catalysts used by a fuel cell is almost 26% of the total cost when 1,000 systems are produced per year. The high cost of catalysts is projected to inhibit the growth of the advances in the fuel cell technology market in the coming years.
Opportunity: Increasing efforts to augment hydrogen refueling stations
Germany’s H2Mobility program is supporting the adoption of fuel cell vehicles by developing fueling stations, which in turn, opens up opportunities for the deployment of fuel cells. Moreover, Europe's Hydrogen for Innovative Vehicles (HyFIVE) project aims to expand its hydrogen fuel cell network, developing stations in Italy, the United Kingdom, Austria, and Denmark.
Challenge: High cost of fuel cell vehicles
Fuel cell is itself a very expensive technology which directly affects the cost of fuel cell electric vehicles. The price of the 2019 Toyota Mirai is almost USD 58,500 in the US, whereas the 2019 Tesla Model 3 costs USD 36,000. The huge price difference between battery electric and fuel cell vehicles is a major challenge for the growth of FCEV sales.
Fuel Cell Market Map
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Small scale (up to 200 kW) segment held the majority of market share by fuel cell size in global fuel cell market in 2021
Owing to their diversified range of power output, small scale fuel cells systems are used in diverse end use segments. Small scale fuel cell systems are available for power outputs ranging from a few watts to multiple kW. Moreover, The government of Japan has set ambitious goals for the extensive deployment of fuel cell systems in the residential and transportation sectors whch has spur the small scale fuel cell market growth.
Commercial & Industrial end user segment to grow at the fastest pace in the forecast period
Almost every type of fuel cell can be used by commercial & industrial end users which enables them to curb GHG emissions. For instance, Toshiba Energy Systems & Solutions Corporation (Japan) installed its pure hydrogen fuel cell system, ‘H2Rex,’ at the Toyota Motor Corporation’s Honsha Plant. This system was installed at Hydrogen Power Generation Park, a demonstration site located within the on-site electricity generation facility of the plant.
Asia Pacific: The largest region in the fuel cell market in the year 2021.
China recently upgraded its fuel cell policy in March 2022 and unveiled a blueprint for fuel cell technology deployment by 2035 in the country. This blueprint is designed under National Development and Reform Commission. China is the world’s largest automotive market, which supports the rapid growth of technologies such as fuel cell vehicles as compared to other regions. According to National Development and Reform Commission, there will be around 50,000 hydrogen fuel cell vehicles, or FCVs on road in China by 2025.
Key Market Players
The fuel cell market is dominated by a few globally established players such as Bloom Energy (US), Aisin Corporation (Japan), Doosan Fuel Cell Co., Ltd. (South Korea), KYOCERA Corporation (Japan), Plug Power Inc. (US), Ballard Power Systems (Canada), and Ceres (UK).
Fuel Cell Market Scope
|
Report Metric |
Details |
|
Market Revenue in 2022 |
USD 2.9 billion |
|
Estimated Value by 2027 |
USD 9.1 billion |
|
Growth Rate |
Poised to grow at a CAGR of 26.0% |
|
Largest Market |
|
|
Market Report Segmentation |
Type, Application, End-User, Size and Region |
|
Growth Drivers |
|
| Growth Opportunities |
|
|
Geographies covered |
Asia Pacific, North America, Europe, and Rest of the World |
|
Companies covered |
Bloom Energy (US), Doosan Fuel Cell Co., Ltd. (South Korea), Aisin Corporation (Japan), Plug Power Inc. (US), KYOCERA Corporation (Japan), Ceres (UK), Cummins Inc. (US), PowerCell Sweden AB (Sweden), TOSHIBA CORPORATION (Japan), Ballard Power Systems (Canada), SFC Energy AG (Germany). (Total 30 companies) |
This research report categorizes the fuel cell market based on Type, Application, End User, and Region.
Based on the type:
- PEMFC
- SOFC
- PAFC
- MFC
- AFC
- DMFC
Based on the application:
- Portable
- Stationary
- Fuel Cell Vehicles
Based on the end user:
- Commercial & Industrial
- Data Centers
- Transportation
- Military & Defense
- Residential
- Utilitis & Government/Municipal Institute
Based on the size:
- Small Scale
- Large Scale
Based on the region:
- North America
- Asia Pacific
- Europe
- Rest of the world
Recent Developments
- In January 2022, Doosan Fuel Cell Co., Ltd. and Korea Hydro & Nuclear Power (KHNP) signed an agreement for strengthening Hydrogen Fuel Cell Operation and Maintenance Capabilities. The two companies will work together to produce a roadmap for hydrogen fuel cell operation and maintenance technical training, as well as a local green hydrogen fuel cell project for distributed power, under the terms of the agreement
- In February 2022, Renault Group and Plug Power Inc. entered into a joint venture with formation of HYVIA to work on low-carbon mobility and hydrogen fuel cells
- In March 2022, Ceres and HORIBA MIRA entered into a partnership for fuel cell testing and development of a Ceres fuel cell test facility at HORIBA MIRA West Midlands site in UK.
Frequently Asked Questions (FAQ):
What is the current market size of the fuel cell market?
The size of the global fuel cell market is USD 9,075 million in 2021.
What are some of the technological advancements in the market?
There are many technological advancement mainly focussing on the mass manufacture of solid oxide fuel cells. For instance Doosan Fuel Cell (South Korea), is developing of “Korean style SOFC” for high-efficiency power generation. This initiative has been undertaken to expand the company’s product portfolio and to mass-produce SOFC systems by 2024.
Who are the winners in the fuel cell market?
Bloom Energy (US), Aisin Corporation (Japan), Doosan Fuel Cell Co., Ltd. (South Korea), KYOCERA Corporation (Japan), and Plug Power Inc. (US).
Which is the fastest-growing type segment during the forecasted period in the fuel cell market?
The SOFC segment is the fastest-growing during the forecasted period.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 37)
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.3.1 FUEL CELL MARKET, BY APPLICATION
1.3.2 MARKET, BY END USER
1.4 MARKET SCOPE
1.4.1 MARKET SEGMENTATION
1.4.2 REGIONAL SCOPE
1.5 YEARS CONSIDERED
1.6 CURRENCY
1.7 LIMITATIONS
1.8 STAKEHOLDERS
1.9 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 43)
2.1 RESEARCH DATA
FIGURE 1 FUEL CELL MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION METHODOLOGY
2.2.1 SECONDARY DATA
2.2.2 PRIMARY DATA
2.2.2.1 Key insights from primary sources
2.2.2.2 Breakdown of primaries
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 DEMAND-SIDE METRICS
FIGURE 5 MAIN METRICS CONSIDERED FOR ANALYZING DEMAND FOR FUEL CELLS
2.4.1 REGIONAL ANALYSIS
2.4.1.1 Country analysis
2.4.2 DEMAND-SIDE KEY ASSUMPTIONS
2.4.3 DEMAND-SIDE CALCULATION
2.5 SUPPLY-SIDE ANALYSIS
FIGURE 6 KEY METRICS CONSIDERED FOR ASSESSING THE SUPPLY OF FUEL CELLS
FIGURE 7 MARKET: SUPPLY-SIDE ANALYSIS
2.5.1 CALCULATIONS FOR SUPPLY-SIDE
2.5.2 ASSUMPTIONS FOR SUPPLY-SIDE
FIGURE 8 MARKET: MARKER SHARE ANALYSIS, 2021
2.6 FORECAST
3 EXECUTIVE SUMMARY (Page No. - 56)
TABLE 1 FUEL CELL MARKET SNAPSHOT
FIGURE 9 ASIA PACIFIC CONTRIBUTED THE LARGEST SHARE TO MARKET IN 2021
FIGURE 10 SOFC SEGMENT EXPECTED TO LEAD MARKET, BY TYPE, IN 2027
FIGURE 11 STATIONARY SEGMENT EXPECTED TO HOLD THE LARGEST SHARE OF THE MARKET, BY APPLICATION, IN 2027
FIGURE 12 TRANSPORTATION SEGMENT EXPECTED TO DOMINATE THE MARKET, BY END USER, IN 2027
FIGURE 13 SMALL SCALE SEGMENT EXPECTED TO HOLD A LARGER SHARE OF THE MARKET, BY SIZE, IN 2027
4 PREMIUM INSIGHTS (Page No. - 61)
4.1 ATTRACTIVE OPPORTUNITIES IN THE MARKET
FIGURE 14 INCREASING NEED FOR CLEAN POWER GENERATION TO BOOST MARKET GROWTH BETWEEN 2022 AND 2027
4.2 MARKET, BY REGION
FIGURE 15 ASIA PACIFIC MARKET TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
4.3 ASIA PACIFIC MARKET, BY END-USER INDUSTRY AND COUNTRY
FIGURE 16 THE TRANSPORTATION SECTOR AND CHINA CONTRIBUTED THE LARGEST SHARES TO THE MARKET IN ASIA PACIFIC IN 2021
4.4 MARKET, BY TYPE
FIGURE 17 SOFC SEGMENT EXPECTED TO ACCOUNT FOR THE LARGEST MARKET SHARE, BY TYPE, IN 2027
4.5 MARKET, BY APPLICATION
FIGURE 18 STATIONARY SEGMENT TO ACCOUNT FOR THE LARGEST SHARE OF THE MARKET, BY APPLICATION, IN 2027
4.6 MARKET, BY END USER
FIGURE 19 TRANSPORTATION SEGMENT TO DOMINATE THE MARKET, BY END USER, IN 2027
4.7 MARKET, BY SIZE
FIGURE 20 SMALL SCALE SEGMENT TO DOMINATE THE MARKET, BY SIZE, IN 2027
5 MARKET OVERVIEW (Page No. - 65)
5.1 INTRODUCTION
5.2 COVID-19 HEALTH ASSESSMENT
FIGURE 21 GLOBAL PROPAGATION OF COVID-19
FIGURE 22 PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES
5.3 COVID-19 ECONOMIC ASSESSMENT
FIGURE 23 COMPARISON OF GDP FOR SELECTED G20 COUNTRIES IN 2020
5.4 MARKET DYNAMICS
FIGURE 24 FUEL CELL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.4.1 DRIVERS
5.4.1.1 Rise in the demand for fuel cell vehicles
FIGURE 25 FUEL CELL ELECTRIC VEHICLES BY MODE AND BY COUNTRY, 2020
5.4.1.2 Advancements in research & development on fuel cells and government rebates
5.4.1.3 Stringent emission norms in Europe and North America leading to demand for clean energy sources
FIGURE 26 ENERGY-RELATED CO2 EMISSIONS, 1990–2019 (GT CO2)
5.4.1.4 Faster refueling of FCEVs compared to BEVs
5.4.2 RESTRAINTS
5.4.2.1 High cost of catalysts used in fuel cells
5.4.2.2 Storage issues associated with using hydrogen as fuel
5.4.2.3 High initial investments in hydrogen fueling infrastructure
5.4.3 OPPORTUNITIES
5.4.3.1 Increased efforts to augment hydrogen fueling stations
FIGURE 27 HYDROGEN REFUELLING STATIONS IN THE WORLD, 2020
5.4.3.2 Rise in distributed power generation and combined heat & power applications across regions
TABLE 2 COMPARISON OF FUEL CELLS AND OTHER DISTRIBUTED POWER GENERATION SOURCES
5.4.3.3 Increased adoption of fuel cells for backup power in data centers
5.4.3.4 Growing investments in space programs and rising utilization of fuel cells in the military
5.4.4 CHALLENGES
5.4.4.1 Water management in proton exchange membrane fuel cells
5.4.4.2 High operating temperatures and start-up time of solid oxide fuel cells
5.4.4.3 High cost of fuel cell vehicles
5.4.4.4 Competition from BEVs and HEVs
5.5 IMPACT OF COVID-19
5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
FIGURE 28 REVENUE SHIFT FOR FUEL CELL PROVIDERS
5.7 PRICING ANALYSIS
5.7.1 PEMFC BACKUP SYSTEM PRICING ANALYSIS
TABLE 3 PEM STACK COMPONENT COST SUMMARY-5 KW & 10 KW BACKUP SYSTEM (USD), 2016
TABLE 4 PEM BALANCE OF PLANT (BOP) COST SUMMARY (USD)
FIGURE 29 5 KW SYSTEM BOP COST DISTRIBUTION
FIGURE 30 10 KW SYSTEM BOP COST DISTRIBUTION
5.7.2 PEMFC AUTOMOTIVE SYSTEM PRICE ANALYSIS
TABLE 5 COST SUMMARY FOR A 80 KW FUEL CELL VEHICLE (USD), 2018-2015
TABLE 6 COST SUMMARY FOR A 160 KW MEDIUM DUTY FUEL CELL VEHICLE (USD), 2018-2025
5.8 VALUE CHAIN ANALYSIS
FIGURE 31 VALUE CHAIN ANALYSIS: FUEL CELL MARKET
5.8.1 COMPONENT MANUFACTURERS
5.8.2 ASSEMBLERS/MANUFACTURERS
5.8.3 DISTRIBUTORS (BUYERS)/END USERS
5.9 TECHNOLOGY ANALYSIS
5.9.1 DIRECT BOROHYDRIDE FUEL CELLS
5.9.2 NANOPARTICLE BASED FUEL CELLS
5.9.3 NON PRECIOUS METAL CATALYST BASED FUEL CELLS
5.9.4 HEXAGONAL PEROVSKITES FOR CERAMIC FUEL CELLS
5.10 TRADE ANALYSIS
5.10.1 EXPORT SCENARIO
TABLE 7 EXPORT SCENARIO FOR HS CODE: 280410, BY COUNTRY, 2019–2021 (USD)
5.10.2 IMPORT SCENARIO
TABLE 8 IMPORT SCENARIO FOR HS CODE: 280410, BY COUNTRY, 2019–2021 (USD)
5.11 KEY CONFERENCES AND EVENTS IN 2022 & 2023
TABLE 9 MARKET: DETAILED LIST OF CONFERENCES & EVENTS
5.12 MARKET MAP
FIGURE 32 MARKET MAP: MARKET
TABLE 10 MARKET: ROLE IN ECOSYSTEM
5.13 PATENT ANALYSIS
5.13.1 LIST OF MAJOR PATENTS
TABLE 11 FUEL CELL: INNOVATIONS AND PATENT REGISTRATIONS, MARCH 2021–MARCH 2022
5.14 CASE STUDY ANALYSIS
5.14.1 SAMSUNG HEAVY INDUSTRIES PLANS FOR CLEAN POWER SHIPS UNDER A JOINT DEVELOPMENT AGREEMENT WITH BLOOM ENERGY (JUNE 2020)
5.14.1.1 Problem statement
5.14.1.2 Solution
5.14.2 BALLARD POWER SYSTEMS POWER THE WORLD’S FIRST COMMERCIAL FUEL CELL POWERED TRAM LINE (JULY 2019)
5.14.2.1 Problem statement
5.14.2.2 Solution
5.14.3 SOUTHERN COMMUNICATION SERVICES EMPLOYS PLUG POWER HYDROGEN FUEL CELLS FOR UNINTERRUPTED POWER SUPPLY (JULY 2017)
5.14.3.1 Problem statement
5.14.3.2 Solution
5.14.4 IKEA USES FUEL CELLS FOR ON-SITE POWER (JANUARY 2017)
5.14.4.1 Problem statement
5.14.4.2 Solution
5.15 FUEL CELL MARKET: REGULATIONS
5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS
TABLE 13 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15.1.1 Regulations related to fuel cells
5.15.1.1.1 Regulatory framework in North America
5.15.1.1.2 Regulatory framework in Europe
5.15.1.1.3 Regulatory framework in Asia Pacific
5.16 PORTER’S FIVE FORCES ANALYSIS
FIGURE 33 PORTER’S FIVE FORCES ANALYSIS FOR THE MARKET
TABLE 15 MARKET: PORTER’S FIVE FORCES ANALYSIS
5.16.1 THREAT OF SUBSTITUTES
5.16.2 BARGAINING POWER OF SUPPLIERS
5.16.3 BARGAINING POWER OF BUYERS
5.16.4 THREAT OF NEW ENTRANTS
5.16.5 RIVALRY AMONG EXISTING COMPETITORS
5.17 KEY STAKEHOLDERS & BUYING CRITERIA
5.17.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 34 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY TOP END USERS
TABLE 16 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY TOP END USERS (%)
5.17.2 BUYING CRITERIA
FIGURE 35 KEY BUYING CRITERIA FOR TOP END USERS
TABLE 17 KEY BUYING CRITERIA, BY END USER
6 FUEL CELL MARKET, BY TYPE (Page No. - 97)
6.1 INTRODUCTION
FIGURE 36 MARKET: BY TYPE, (VOLUME), 2021
TABLE 18 MARKET: BY TYPE, 2016–2019 (MW)
TABLE 19 MARKET: BY TYPE, 2020–2027 (MW)
FIGURE 37 MARKET: BY TYPE, (VALUE) 2021
TABLE 20 MARKET: BY TYPE, 2016–2019 (USD MILLION)
TABLE 21 MARKET: BY TYPE, 2020–2027 (USD MILLION)
6.2 PROTON EXCHANGE MEMBRANE FUEL CELL (PEMFC)
6.2.1 INCREASING DEMAND FOR PEMFC IN FUEL CELL ELECTRIC VEHICLES (FCEVS) TO DRIVE THE MARKET GROWTH
TABLE 22 PROTON EXCHANGE MEMBRANE MARKET: BY REGION, 2016–2019 (MW)
TABLE 23 PROTON EXCHANGE MEMBRANE MARKET: BY REGION, 2020–2027 (MW)
TABLE 24 PROTON EXCHANGE MEMBRANE MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 25 PROTON EXCHANGE MEMBRANE MARKET: BY REGION, 2020–2027 (USD MILLION)
6.3 SOLID OXIDE FUEL CELL (SOFC)
6.3.1 FUEL FLEXIBILITY AND INCREASING DEMAND FOR ENERGY-EFFICIENT POWER GENERATION TO BOOST THE SOFC MARKET GROWTH
TABLE 26 SOLID OXIDE MARKET: BY REGION, 2016–2019 (MW)
TABLE 27 SOLID OXIDE MARKET: BY REGION, 2020–2027 (MW)
TABLE 28 SOLID OXIDE MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 29 SOLID OXIDE MARKET: BY REGION, 2020–2027 (USD MILLION)
6.4 PHOSPHORIC ACID FUEL CELL (PAFC)
6.4.1 ADOPTION OF PAFCS IN STATIONARY APPLICATIONS TO DRIVE THE MARKET GROWTH
TABLE 30 PHOSPHORIC ACID MARKET: BY REGION, 2016–2019 (KW)
TABLE 31 PHOSPHORIC ACID MARKET: BY REGION, 2020–2027 (KW)
TABLE 32 PHOSPHORIC ACID MARKET: BY REGION, 2016–2019 (USD THOUSAND)
TABLE 33 PHOSPHORIC ACID MARKET: BY REGION, 2020–2027 (USD THOUSAND)
6.5 ALKALINE FUEL CELL(AFC)
6.5.1 HIGH ADOPTION OF AFCS IN TRANSPORT AND AEROSPACE APPLICATIONS TO ACCELERATE THE MARKET GROWTH
TABLE 34 ALKALINE MARKET: BY REGION, 2016–2019 (KW)
TABLE 35 ALKALINE MARKET: BY REGION, 2020–2027 (KW)
TABLE 36 ALKALINE MARKET: BY REGION, 2016–2019 (USD THOUSAND)
TABLE 37 ALKALINE MARKET: BY REGION, 2020–2027 (USD THOUSAND)
6.6 MICROBIAL FUEL CELL(MFC)
6.6.1 INCREASED USE OF MICROBES IN FUEL CELL OPERATIONS IN WATER AND WASTEWATER TREATMENT INDUSTRIES TO STIMULATE GROWTH OF THE MFC SEGMENT
TABLE 38 MICROBIAL FUEL CELL MARKET: BY REGION, 2019–2027 (KW)
TABLE 39 MICROBIAL MARKET: BY REGION, 2019–2027 (USD THOUSAND)
6.7 DIRECT METHANOL FUEL CELL (DMFC)
6.7.1 ADOPTION OF MCFCS IN LARGE STATIONARY APPLICATIONS TO DRIVE THE MARKET GROWTH
TABLE 40 DMFC FUEL CELL MARKET: BY REGION, 2016–2019 (KW)
TABLE 41 DMFC MARKET: BY REGION, 2020–2027 (KW)
TABLE 42 DMFC MARKET: BY REGION, 2016–2019 (USD THOUSAND)
TABLE 43 DMFC MARKET: BY REGION, 2020–2027 (USD THOUSAND)
6.8 OTHER TYPES OF FUEL CELLS
6.8.1 MOLTEN CARBONATE FUEL CELL (MCFC)
6.8.2 ANION EXCHANGE MEMBRANE FUEL CELL (AEMFC)
7 FUEL CELL MARKET, BY APPLICATION (Page No. - 111)
7.1 INTRODUCTION
FIGURE 38 FUEL CELL MARKET, BY APPLICATION, 2021
TABLE 44 MARKET: BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 45 MARKET: BY APPLICATION, 2020–2027 (USD MILLION)
7.2 PORTABLE
7.2.1 ADOPTION OF PORTABLE FUEL CELLS IN THE MILITARY AND DEFENSE SECTORS FOR LIGHTWEIGHT AXULLIARY POWER UNITS TO BOOST THE GROWTH OF THE SEGMENT
TABLE 46 PORTABLE FUEL CELL MARKET: BY REGION, 2016–2019 (USD THOUSAND)
TABLE 47 PORTABLE MARKET: BY REGION, 2020–2027 (USD THOUSAND)
7.3 STATIONARY
7.3.1 INCREASING ADOPTION OF SOLID OXIDE FUEL CELLS IN THE STATIONARY APPLICATIONS TO BOOST MARKET GROWTH
TABLE 48 STATIONARY FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 49 STATIONARY MARKET: BY REGION, 2020–2027 (USD MILLION)
TABLE 50 STATIONARY MARKET: BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 51 STATIONARY MARKET: BY APPLICATION, 2020–2027 (USD MILLION)
7.3.2 PRIMARY
7.3.2.1 Increasing utilization of fuel cells in North American utilities expected to fuel the growth of the primary segment
TABLE 52 PRIMARY APPLICATION FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 53 PRIMARY APPLICATION MARKET: BY REGION, 2020–2027 (USD MILLION)
7.3.3 BACK-UP
7.3.3.1 Adoption of fuel cells for back-up power generation in data centers during grid outages to boost the market growth
TABLE 54 BACK-UP APPLICATION MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 55 BACK-UP APPLICATION MARKET: BY REGION, 2020–2027 (USD MILLION)
7.3.4 COMBINED HEAT & POWER (CHP)
7.3.4.1 Adoption of residential combined heat & power fuel cell units in Europe and Japan expected to drive the growth of the segment
TABLE 56 COMBINED HEAT & POWER APPLICATION MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 57 COMBINED HEAT & POWER APPLICATION MARKET: BY REGION, 2020–2027 (USD MILLION)
7.4 FUEL CELL VEHICLES
7.4.1 DECARBONIZING THE TRANSPORTATION SECTOR TO DRIVE MARKET GROWTH
TABLE 58 FUEL CELL VEHICLES MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 59 FUEL CELL VEHICLES MARKET: BY REGION, 2020–2027 (USD MILLION)
TABLE 60 FUEL CELL VEHICLES MARKET: BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 61 FUEL CELL VEHICLES MARKET: BY APPLICATION, 2020–2027 (USD MILLION)
7.4.2 PASSENGER LIGHT DUTY FUEL CELL VEHICLES
7.4.2.1 Increased demand of personal mobility and stringent regulations on emissions to drive the segment growth
TABLE 62 PASSENGER LIGHT DUTY FUEL CELL VEHICLES MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 63 PASSENGER LIGHT DUTY FUEL CELL VEHICLES: BY REGION, 2020–2027 (USD MILLION)
7.4.3 FUEL CELL BUSES
7.4.3.1 Increasing adoption of fuel cell buses for public transport in China to increase the growth of the segment
TABLE 64 FUEL CELL BUSES MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 65 FUEL CELL BUSES MARKET: BY REGION, 2020–2027 (USD MILLION)
7.4.4 FUEL CELL TRUCKS
7.4.4.1 Adoption of fuel cell trucks for long-range transportation to drive the segment
TABLE 66 FUEL CELL TRUCKS MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 67 FUEL CELL TRUCKS MARKET: BY REGION, 2020–2027 (USD MILLION)
7.4.5 OTHERS
7.4.5.1 Increasing focus on developing fuel cells for marine applications to drive the growth of the segment
TABLE 68 OTHER FUEL CELL VEHICLES MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 69 OTHER FUEL CELL VEHICLES MARKET: BY REGION, 2020–2027 (USD MILLION)
8 FUEL CELL MARKET, BY END USER (Page No. - 129)
8.1 INTRODUCTION
FIGURE 39 FUEL CELL MARKET: BY END USER, 2021
TABLE 70 MARKET: BY END USER, 2016–2019 (USD MILLION)
TABLE 71 MARKET BY END USER, 2020–2027 (USD MILLION)
8.2 RESIDENTIAL
8.2.1 RISING NEED FOR ENERGY REDUCTION AND ENERGY EFFICIENCY IN RESIDENTIAL AREAS IS EXPECTED TO DRIVE THE GROWTH OF THE RESIDENTIAL SEGMENT
TABLE 72 RESIDENTIAL MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 73 RESIDENTIAL MARKET: BY REGION, 2020–2027 (USD MILLION)
8.3 COMMERCIAL & INDUSTRIAL
8.3.1 DECARBONIZING GOALS AND STRINGENT LAWS BY REGIONAL AUTHORITIES TO DRIVE MARKET GROWTH
TABLE 74 COMMERCIAL & INDUSTRIAL MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 75 COMMERCIAL & INDUSTRIAL FUEL CELL, BY REGION, 2020–2027 (USD MILLION)
8.4 TRANSPORTATION
8.4.1 PORTABLE SOLUTIONS ARE WELL SUITED FOR MILITARY & ORGANIZATIONS
TABLE 76 TRANSPORTATION MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 77 TRANSPORTATION MARKET: BY REGION, 2020–2027 (USD MILLION)
8.5 DATA CENTERS
8.5.1 GROWING REQUIREMENT FOR BACKUP POWER IN DATA CENTERS DURING OUTAGES EXPECTED TO FUEL THE GROWTH OF THE DATA CENTERS SEGMENT
TABLE 78 DATA CENTERS MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 79 DATA CENTERS: MARKET: BY REGION, 2020–2027 (USD MILLION)
8.6 MILITARY & DEFENSE
8.6.1 PORTABLE SOLUTIONS ARE WELL SUITED FOR MILITARY & ORGANIZATIONS WHICH DRIVES THE MARKET GROWTH
TABLE 80 MILITARY & DEFENSE MARKET: BY REGION, 2016–2019 (USD MILLION)
TABLE 81 MILITARY & DEFENSE MARKET: BY REGION, 2020–2027 (USD MILLION)
8.7 UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES
8.7.1 STRINGENT LAWS BY REGIONAL AUTHORITIES AND DECARBONIZING GOALS TO DRIVE MARKET GROWTH
TABLE 82 UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES MARKET: BY REGION, 2016–2019 (USD THOUSAND)
TABLE 83 UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES MARKET: BY REGION, 2020–2027 (USD THOUSAND)
9 FUEL CELL MARKET, BY SIZE (Page No. - 139)
9.1 INTRODUCTION
FIGURE 40 MARKET, BY SIZE, 2021
TABLE 84 MARKET: BY SIZE, 2020–2027 (USD MILLION)
9.2 SMALL SCALE (UP TO 200 KW)
9.2.1 DIVERSE POWER OUTPUT MAKES SMALL SCALE CELLS SUITABLE FOR ALL TYPES OF END USERS
TABLE 85 SMALL SCALE: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.3 LARGE SCALE (ABOVE 200 KW)
9.3.1 ROBUST ENERGY & CLIMATE POLICIES AND THE PRESENCE OF DIVERSE END USERS ARE THE POTENTIAL DRIVERS FOR THE MARKET
TABLE 86 LARGE SCALE: MARKET: BY REGION, 2020–2027 (USD THOUSAND)
10 GEOGRAPHIC ANALYSIS (Page No. - 143)
10.1 INTRODUCTION
FIGURE 41 REGIONAL SNAPSHOT: ASIA PACIFIC IS EXPECTED TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD
FIGURE 42 FUEL CELL MARKET, BY REGION, 2021
TABLE 87 MARKET, BY REGION, 2016–2019 (MW)
TABLE 88 MARKET, BY REGION, 2020–2027 (MW)
TABLE 89 MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 90 MARKET, BY REGION, 2020–2027 (USD MILLION)
10.2 NORTH AMERICA
FIGURE 43 SNAPSHOT: MARKET IN NORTH AMERICA, 2021–2027
10.2.1 BY TYPE
TABLE 91 FUEL CELL MARKET IN NORTH AMERICA, BY TYPE, 2016–2019 (MW)
TABLE 92 MARKET IN NORTH AMERICA, BY TYPE, 2020–2027 (MW)
TABLE 93 MARKET IN NORTH AMERICA, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 94 MARKET IN NORTH AMERICA, BY TYPE, 2020–2027 (USD THOUSAND)
10.2.2 BY APPLICATION
TABLE 95 MARKET IN NORTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 96 MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2027 (USD MILLION)
TABLE 97 MARKET IN NORTH AMERICA, BY STATIONARY APPLICATION, 2016–2019 (USD MILLION)
TABLE 98 FUEL CELL MARKET IN NORTH AMERICA, BY STATIONARY APPLICATION, 2020–2027 (USD MILLION)
TABLE 99 MARKET IN NORTH AMERICA, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)
TABLE 100 MARKET IN NORTH AMERICA, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)
10.2.3 BY END USER
TABLE 101 MARKET IN NORTH AMERICA, BY END USER, 2016–2019 (USD MILLION)
TABLE 102 MARKET IN NORTH AMERICA, BY END USER, 2020–2027 (USD MILLION)
10.2.4 BY SIZE
TABLE 103 MARKET IN NORTH AMERICA, BY SIZE, 2020–2027 (USD MILLION)
10.2.5 BY COUNTRY
TABLE 104 FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (MW)
TABLE 105 MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2027 (MW)
TABLE 106 MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 107 MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)
10.2.5.1 US
10.2.5.1.1 State-level incentives for fuel cell programs to accelerate the regional market
TABLE 108 FUEL CELL MARKET IN US, BY TYPE, 2016–2019 (MW)
TABLE 109 MARKET IN US, BY TYPE, 2020–2027 (MW)
TABLE 110 MARKET IN US, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 111 MARKET IN US, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 112 MARKET IN US, BY SIZE, 2020–2027 (USD MILLION)
TABLE 113 MARKET IN US, BY END USER, 2016–2019 (USD MILLION)
TABLE 114 MARKET IN US, BY END USER, 2020–2027 (USD MILLION)
TABLE 115 MARKET IN US, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 116 MARKET IN US, BY APPLICATION, 2020–2027 (USD MILLION)
10.2.5.2 Canada
10.2.5.2.1 Grants from the government for fuel cell program to boost the market growth
TABLE 117 FUEL CELL MARKET IN CANADA, BY TYPE, 2016–2019 (KW)
TABLE 118 MARKET IN CANADA, BY TYPE, 2020–2027 (KW)
TABLE 119 MARKET IN CANADA, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 120 MARKET IN CANADA, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 121 MARKET IN CANADA, BY SIZE, 2020–2027 (USD MILLION)
TABLE 122 MARKET IN CANADA, BY END USER, 2016–2019 (USD MILLION)
TABLE 123 MARKET IN CANADA, BY END USER, 2020–2027 (USD MILLION)
TABLE 124 MARKET IN CANADA, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 125 MARKET IN CANADA, BY APPLICATION, 2020–2027 (USD MILLION)
10.3 ASIA PACIFIC
FIGURE 44 SNAPSHOT: MARKET IN ASIA PACIFIC, 2021–2027
10.3.1 BY TYPE
TABLE 126 FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2016–2019 (MW)
TABLE 127 MARKET IN ASIA PACIFIC, BY TYPE, 2020–2027 (MW)
TABLE 128 MARKET IN ASIA PACIFIC, BY TYPE, 2016–2019 (USD MILLION)
TABLE 129 MARKET IN ASIA PACIFIC, BY TYPE, 2020–2027 (USD MILLION)
10.3.2 BY APPLICATION
TABLE 130 FUEL CELL MARKET IN ASIA PACIFIC, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 131 MARKET IN ASIA PACIFIC, BY APPLICATION, 2020–2027 (USD MILLION)
TABLE 132 MARKET IN ASIA PACIFIC, BY STATIONARY APPLICATION, 2016–2019 (USD MILLION)
TABLE 133 MARKET IN ASIA PACIFIC, BY STATIONARY APPLICATION, 2020–2027 (USD MILLION)
TABLE 134 MARKET IN ASIA PACIFIC, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)
TABLE 135 MARKET IN ASIA PACIFIC, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)
10.3.3 BY END USER
TABLE 136 FUEL CELL MARKET IN ASIA PACIFIC, BY END USER, 2016–2019 (USD MILLION)
TABLE 137 MARKET IN ASIA PACIFIC, BY END USER, 2020–2027 (USD MILLION)
10.3.4 BY SIZE
TABLE 138 MARKET IN ASIA PACIFIC, BY SIZE, 2020–2027 (USD MILLION)
10.3.5 BY COUNTRY
TABLE 139 MARKET IN ASIA PACIFIC, BY COUNTRY, 2016–2019 (MW)
TABLE 140 MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (MW)
TABLE 141 MARKET IN ASIA PACIFIC, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 142 MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)
10.3.5.1 China
10.3.5.1.1 Increasing investments in fuel cell based public transport to boost the demand for fuel cell
TABLE 143 FUEL CELL MARKET IN CHINA, BY TYPE, 2016–2019 (MW)
TABLE 144 MARKET IN CHINA, BY TYPE, 2020–2027 (MW)
TABLE 145 MARKET IN CHINA, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 146 MARKET IN CHINA, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 147 MARKET IN CHINA, BY SIZE, 2020–2027 (USD MILLION)
TABLE 148 MARKET IN CHINA, BY END USER, 2016–2019 (USD MILLION)
TABLE 149 MARKET IN CHINA, BY END USER, 2020–2027 (USD MILLION)
TABLE 150 MARKET IN CHINA, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 151 FUEL CELL MARKET IN CHINA, BY APPLICATION, 2020–2027 (USD MILLION)
10.3.5.2 Japan
10.3.5.2.1 Rise in demand for fuel cells in the residential sector to boost the market growth
TABLE 152 FUEL CELL MARKET IN JAPAN, BY TYPE, 2016–2019 (KW)
TABLE 153 MARKET IN JAPAN, BY TYPE, 2020–2027 (KW)
TABLE 154 MARKET IN JAPAN, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 155 MARKET IN JAPAN, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 156 MARKET IN JAPAN, BY SIZE, 2020–2027 (USD MILLION)
TABLE 157 MARKET IN JAPAN, BY END USER, 2016–2019 (USD MILLION)
TABLE 158 MARKET IN JAPAN, BY END USER, 2020–2027 (USD MILLION)
TABLE 159 MARKET IN JAPAN, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 160 MARKET IN JAPAN, BY APPLICATION, 2020–2027 (USD MILLION)
10.3.5.3 South Korea
10.3.5.3.1 Mandates to decarbonize the energy sector expected to increase the demand for fuel cells
TABLE 161 FUEL CELL MARKET IN SOUTH KOREA, BY TYPE, 2016–2019 (KW)
TABLE 162 MARKET IN SOUTH KOREA, BY TYPE, 2020–2027 (KW)
TABLE 163 MARKET IN SOUTH KOREA, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 164 MARKET IN SOUTH KOREA, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 165 MARKET IN SOUTH KOREA, BY SIZE, 2020–2027 (USD MILLION)
TABLE 166 MARKET IN SOUTH KOREA, BY END USER, 2016–2019 (USD MILLION)
TABLE 167 MARKET IN SOUTH KOREA, BY END USER, 2020–2027 (USD MILLION)
TABLE 168 MARKET IN SOUTH KOREA, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 169 MARKET IN SOUTH KOREA, BY APPLICATION, 2020–2027 (USD MILLION)
10.3.5.4 Rest of Asia Pacific
TABLE 170 FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2016–2019 (KW)
TABLE 171 MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2020–2027 (KW)
TABLE 172 MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 173 MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 174 MARKET IN REST OF ASIA PACIFIC, BY SIZE, 2020–2027 (USD MILLION)
TABLE 175 MARKET IN REST OF ASIA PACIFIC, BY END USER, 2016–2019 (USD MILLION)
TABLE 176 MARKET IN REST OF ASIA PACIFIC, BY END USER, 2020–2027 (USD MILLION)
TABLE 177 MARKET IN REST OF ASIA PACIFIC, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 178 MARKET IN REST OF ASIA PACIFIC, BY APPLICATION, 2020–2027 (USD MILLION)
10.4 EUROPE
10.4.1 BY TYPE
TABLE 179 FUEL CELL MARKET IN EUROPE, BY TYPE, 2016–2019 (KW)
TABLE 180 MARKET IN EUROPE, BY TYPE, 2020–2027 (KW)
TABLE 181 MARKET IN EUROPE, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 182 MARKET IN EUROPE, BY TYPE, 2020–2027 (USD THOUSAND)
10.4.2 BY APPLICATION
TABLE 183 MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 184 MARKET IN EUROPE, BY APPLICATION, 2020–2027 (USD MILLION)
TABLE 185 MARKET IN EUROPE, BY STATIONARY APPLICATION, 2016–2019 (USD MILLION)
TABLE 186 MARKET IN EUROPE, BY STATIONARY APPLICATION, 2020–2027 (USD MILLION)
TABLE 187 MARKET IN EUROPE, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)
TABLE 188 MARKET IN EUROPE, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)
10.4.3 BY END USER
TABLE 189 MARKET IN EUROPE, BY END USER, 2016–2019 (USD MILLION)
TABLE 190 MARKET IN EUROPE, BY END USER, 2020–2027 (USD MILLION)
10.4.4 BY SIZE
TABLE 191 MARKET IN EUROPE, BY SIZE, 2020–2027 (USD MILLION)
10.4.5 BY COUNTRY
TABLE 192 FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2016–2019 (MW)
TABLE 193 MARKET IN EUROPE, BY COUNTRY, 2020–2027 (MW)
TABLE 194 MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 195 MARKET IN EUROPE, BY COUNTRY, 2020–2027 (USD MILLION)
10.4.5.1 Germany
10.4.5.1.1 Focus on emission-free transportation to drive the market growth
TABLE 196 FUEL CELL MARKET IN GERMANY, BY TYPE, 2016–2019 (KW)
TABLE 197 MARKET IN GERMANY, BY TYPE, 2020–2027 (KW)
TABLE 198 MARKET IN GERMANY, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 199 MARKET IN GERMANY, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 200 MARKET IN GERMANY, BY SIZE, 2020–2027 (USD MILLION)
TABLE 201 MARKET IN GERMANY, BY END USER, 2016–2019 (USD MILLION)
TABLE 202 MARKET IN GERMANY, BY END USER, 2020–2027 (USD MILLION)
TABLE 203 MARKET IN GERMANY, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 204 MARKET IN GERMANY, BY APPLICATION, 2020–2027 (USD MILLION)
10.4.5.2 UK
10.4.5.2.1 Adoption of fuel cell technologies to help the UK to reduce GHG emissions
TABLE 205 FUEL CELL MARKET IN UK, BY TYPE, 2016–2019 (KW)
TABLE 206 MARKET IN UK, BY TYPE, 2020–2027 (KW)
TABLE 207 MARKET IN UK, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 208 MARKET IN UK, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 209 MARKET IN UK, BY SIZE, 2020–2027 (USD MILLION)
TABLE 210 MARKET IN UK, BY END USER, 2016–2019 (USD MILLION)
TABLE 211 MARKET IN UK, BY END USER, 2020–2027 (USD MILLION)
TABLE 212 MARKET IN UK, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 213 MARKET IN UK, BY APPLICATION, 2020–2027 (USD MILLION)
10.4.6 ITALY
10.4.6.1 Increased focus on energy transition to drive the growth of the fuel cell market in Italy
TABLE 214 FUEL CELL MARKET IN ITALY, BY TYPE, 2016–2019 (KW)
TABLE 215 MARKET IN ITALY, BY TYPE, 2020–2027 (KW)
TABLE 216 MARKET IN ITALY, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 217 MARKET IN ITALY, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 218 MARKET IN ITALY, BY SIZE, 2020–2027 (USD THOUSAND)
TABLE 219 MARKET IN ITALY, BY END USER, 2016–2019 (USD THOUSAND)
TABLE 220 MARKET IN ITALY, BY END USER, 2020–2027 (USD THOUSAND)
TABLE 221 MARKET IN ITALY, BY APPLICATION, 2016–2019 (USD THOUSAND)
TABLE 222 MARKET IN ITALY, BY APPLICATION, 2020–2027 (USD THOUSAND)
10.4.6.2 Rest of Europe
TABLE 223 FUEL CELL MARKET IN REST OF EUROPE, BY TYPE, 2016–2019 (KW)
TABLE 224 MARKET IN REST OF EUROPE, BY TYPE, 2020–2027 (KW)
TABLE 225 MARKET IN REST OF EUROPE, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 226 MARKET IN REST OF EUROPE, BY TYPE, 2020–2027 (USD THOUSAND)
TABLE 227 MARKET IN REST OF EUROPE, BY SIZE, 2020–2027 (USD THOUSAND)
TABLE 228 MARKET IN REST OF EUROPE, BY END USER, 2016–2019 (USD THOUSAND)
TABLE 229 MARKET IN REST OF EUROPE, BY END USER, 2020–2027 (USD THOUSAND)
TABLE 230 MARKET IN REST OF EUROPE, BY APPLICATION, 2016–2019 (USD THOUSAND)
TABLE 231 MARKET IN REST OF EUROPE, BY APPLICATION, 2020–2027 (USD THOUSAND)
10.5 REST OF THE WORLD
10.5.1 BY TYPE
TABLE 232 FUEL CELL MARKET IN REST OF THE WORLD, BY TYPE, 2016–2019 (KW)
TABLE 233 MARKET IN REST OF THE WORLD, BY TYPE, 2020–2027 (KW)
TABLE 234 MARKET IN REST OF THE WORLD, BY TYPE, 2016–2019 (USD THOUSAND)
TABLE 235 MARKET IN REST OF THE WORLD, BY TYPE, 2020–2027 (USD THOUSAND)
10.5.2 BY APPLICATION
TABLE 236 MARKET IN REST OF THE WORLD, BY APPLICATION, 2016–2019 (USD THOUSAND)
TABLE 237 MARKET IN REST OF THE WORLD, BY APPLICATION, 2020–2027 (USD THOUSAND)
TABLE 238 MARKET IN REST OF THE WORLD, BY STATIONARY APPLICATION, 2016–2019 (USD THOUSAND)
TABLE 239 MARKET IN REST OF THE WORLD, BY STATIONARY APPLICATION, 2020–2027 (USD THOUSAND)
TABLE 240 MARKET IN REST OF THE WORLD, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD THOUSAND)
TABLE 241 MARKET IN REST OF THE WORLD, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD THOUSAND)
10.5.3 BY END USER
TABLE 242 MARKET IN REST OF THE WORLD, BY END USER, 2016–2019 (USD THOUSAND)
TABLE 243 MARKET IN REST OF THE WORLD, BY END USER, 2020–2027 (USD THOUSAND)
10.5.4 BY SIZE
TABLE 244 FUEL CELL MARKET IN REST OF THE WORLD, BY SIZE, 2020–2027 (USD THOUSAND)
11 COMPETITIVE LANDSCAPE (Page No. - 207)
11.1 KEY PLAYERS STRATEGIES
TABLE 245 OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS, JANUARY 2017– FEBRURAY 2022
11.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS, 2021
TABLE 246 MARKET: DEGREE OF COMPETITION, 2O21
FIGURE 45 MARKET SHARE ANALYSIS, 2021
11.3 SEGMENTAL REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS, 2016-2021
FIGURE 46 SEGMENTAL REVENUE ANALYSIS OF TOP PLAYERS IN THE MARKET FROM 2016 TO 2021
11.4 COMPANY EVALUATION QUADRANT, 2021
11.4.1 STAR
11.4.2 PERVASIVE
11.4.3 EMERGING LEADER
11.4.4 PARTICIPANT
FIGURE 47 COMPETITIVE LEADERSHIP MAPPING: MARKET, 2021
11.5 FUEL CELL: COMPANY FOOTPRINT
TABLE 247 BY END USER: COMPANY FOOTPRINT
TABLE 248 BY REGION: COMPANY FOOTPRINT
TABLE 249 BY TYPE: COMPANY FOOTPRINT
TABLE 250 BY APPLICATION: COMPANY FOOTPRINT
TABLE 251 BY SIZE: COMPANY FOOTPRINT
TABLE 252 COMPANY FOOTPRINT
11.6 COMPETITIVE SCENARIO
TABLE 253 FUEL CELL MARKET: PRODUCT LAUNCHES, JANUARY 2017– FEBRUARY 2022
TABLE 254 FUEL CELL: DEALS, JANURAY 2017– FEBRUARY 2022
TABLE 255 FUEL CELL: OTHERS, JANURAY 2017 – FEBRURAY 2022
11.7 START-UP/SME EVALUATION QUADRANT, 2021
11.7.1 PROGRESSIVE COMPANY
11.7.2 RESPONSIVE COMPANY
11.7.3 DYNAMIC COMPANY
11.7.4 STARTING BLOCK
FIGURE 48 FUEL CELL MARKET: START-UP/SME EVALUATION QUADRANT, 2021
11.8 COMPETITIVE BENCHMARKING
TABLE 256 MARKET: DETAILED LIST OF KEY STARTUP/SMES
TABLE 257 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]
12 COMPANY PROFILES (Page No. - 228)
(Business Overview and Financial Review, Products Offered, Recent Developments, and MnM View)*
12.1 KEY PLAYERS
12.1.1 BLOOM ENERGY
TABLE 258 BLOOM ENERGY: BUSINESS OVERVIEW
FIGURE 49 BLOOM ENERGY: COMPANY SNAPSHOT, 2021
TABLE 259 BLOOM ENERGY: PRODUCTS OFFERED
TABLE 260 BLOOM ENERGY: PRODUCT LAUNCHES
TABLE 261 BLOOM ENERGY: DEALS
TABLE 262 BLOOM ENERGY: OTHERS
12.1.2 DOOSAN FUEL CELL CO., LTD.
TABLE 263 DOOSAN FUEL CELL CO., LTD.: BUSINESS OVERVIEW
FIGURE 50 DOOSAN FUEL CELL CO., LTD.: COMPANY SNAPSHOT, 2021
TABLE 264 DOOSAN FUEL CELL CO., LTD.: PRODUCTS OFFERED
TABLE 265 DOOSAN FUEL CELL CO., LTD.: DEALS
TABLE 266 DOOSAN FUEL CELL CO., LTD.: OTHERS
12.1.3 AISIN CORPORATION
TABLE 267 AISIN CORPORATION: BUSINESS OVERVIEW
FIGURE 51 AISIN CORPORATION: COMPANY SNAPSHOT, 2020
TABLE 268 AISIN CORPORATION: PRODUCTS OFFERED
TABLE 269 AISIN CORPORATION: DEALS
12.1.4 PLUG POWER INC.
TABLE 270 PLUG POWER INC.: BUSINESS OVERVIEW
FIGURE 52 PLUG POWER INC.: COMPANY SNAPSHOT, 2021
TABLE 271 PLUG POWER INC.: PRODUCTS OFFERED
TABLE 272 PLUG POWER INC.: PRODUCT LAUNCHES
TABLE 273 PLUG POWER INC.: DEALS
TABLE 274 PLUG POWER INC.: OTHERS
12.1.5 KYOCERA CORPORATION
TABLE 275 KYOCERA CORPORATION: BUSINESS OVERVIEW
FIGURE 53 KYOCERA CORPORATION: COMPANY SNAPSHOT, 2020
TABLE 276 KYOCERA CORPORATION: PRODUCTS OFFERED
TABLE 277 KYOCERA CORPORATION: PRODUCT LAUNCHES
12.1.6 CERES
TABLE 278 CERES: BUSINESS OVERVIEW
FIGURE 54 CERES: COMPANY SNAPSHOT, 2021
TABLE 279 CERES: PRODUCTS OFFERED
TABLE 280 CERES: DEALS
TABLE 281 CERES: OTHERS
12.1.7 CUMMINS INC.
TABLE 282 CUMMINS INC.: BUSINESS OVERVIEW
FIGURE 55 CUMMINS INC.: COMPANY SNAPSHOT, 2021
TABLE 283 CUMMINS INC.: PRODUCTS OFFERED
TABLE 284 CUMMINS INC.: DEALS
TABLE 285 CUMMINS INC.: OTHERS
12.1.8 POWERCELL SWEDEN AB
TABLE 286 POWERCELL SWEDEN AB: BUSINESS OVERVIEW
FIGURE 56 POWERCELL SWEDEN AB: COMPANY SNAPSHOT, 2021
TABLE 287 POWERCELL SWEDEN AB: PRODUCTS OFFERED
TABLE 288 POWERCELL SWEDEN AB: PRODUCT LAUNCHES
TABLE 289 POWERCELL SWEDEN AB: DEALS
TABLE 290 POWERCELL SWEDEN AB.: OTHERS
12.1.9 TOSHIBA CORPORATION
TABLE 291 TOSHIBA CORPORATION: BUSINESS OVERVIEW
FIGURE 57 TOSHIBA CORPORATION: COMPANY SNAPSHOT, 2020
TABLE 292 TOSHIBA CORPORATION: PRODUCTS OFFERED
TABLE 293 TOSHIBA CORPORATION: DEALS
12.1.10 BALLARD POWER SYSTEMS
TABLE 294 BALLARD POWER SYSTEMS: BUSINESS OVERVIEW
FIGURE 58 BALLARD POWER SYSTEMS: COMPANY SNAPSHOT, 2021
TABLE 295 BALLARD POWER SYSTEMS: PRODUCTS OFFERED
TABLE 296 BALLARD POWER SYSTEMS: PRODUCT LAUNCHES
TABLE 297 BALLARD POWER SYSTEMS: DEALS
TABLE 298 BALLARD POWER SYSTEMS: OTHERS
12.1.11 SFC ENERGY AG
TABLE 299 SFC ENERGY AG: BUSINESS OVERVIEW
FIGURE 59 SFC ENERGY AG: COMPANY SNAPSHOT, 2021
TABLE 300 SFC ENERGY: PRODUCTS OFFERED
TABLE 301 SFC ENERGY AG: PRODUCT LAUNCHES
TABLE 302 SFC ENERGY AG: DEALS
12.1.12 MITSUBISHI HEAVY INDUSTRIES, LTD.
TABLE 303 MITSUBISHI HEAVY INDUSTRIES, LTD.: BUSINESS OVERVIEW
FIGURE 60 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT, 2020
TABLE 304 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS OFFERED
TABLE 305 MITSUBISHI HEAVY INDUSTRIES, LTD.: DEALS
12.1.13 AFC ENERGY PLC
TABLE 306 AFC ENERGY PLC: BUSINESS OVERVIEW
FIGURE 61 AFC ENERGY PLC: COMPANY SNAPSHOT, 2021
TABLE 307 AFC ENERGY PLC: PRODUCTS OFFERED
TABLE 308 AFC ENERGY PLC: DEALS
TABLE 309 AFC ENERGY PLC: OTHERS
12.1.14 ELRINGKLINGER AG
TABLE 310 ELRINGKLINGER AG: BUSINESS OVERVIEW
FIGURE 62 ELRINGKLINGER AG: COMPANY SNAPSHOT, 2021
TABLE 311 ELRINGKLINGER AG: PRODUCTS OFFERED
TABLE 312 ELRINGKLINGER AG: DEALS
12.1.15 FUJI ELECTRIC CO., LTD.
TABLE 313 FUJI ELECTRIC CO., LTD.: BUSINESS OVERVIEW
FIGURE 63 FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT, 2020
TABLE 314 FUJI ELECTRIC CO., LTD.: PRODUCTS OFFERED
12.1.16 PROTON MOTOR POWER SYSTEMS PLC
TABLE 315 PROTON MOTOR POWER SYSTEMS PLC: BUSINESS OVERVIEW
FIGURE 64 PROTON MOTOR POWER SYSTEMS PLC: COMPANY SNAPSHOT, 2020
TABLE 316 PROTON MOTOR POWER SYSTEMS PLC: PRODUCTS OFFERED
TABLE 317 PROTON MOTOR POWER SYSTEMS PLC: DEALS
12.2 OTHER PLAYERS
12.2.1 ADAPTIVE ENERGY
TABLE 318 ADAPTIVE ENERGY: BUSINESS OVERVIEW
12.2.2 ADELAN
TABLE 319 ADELAN: BUSINESS OVERVIEW
12.2.3 SPECIAL POWER SOURCE
TABLE 320 SPECIAL POWER SOURCE: BUSINESS OVERVIEW
12.2.4 ZTEK CORPORATION, INC.
TABLE 321 ZTEK CORPORATION, INC.: BUSINESS OVERVIEW
12.2.5 SOLIDPOWER S.P.A
TABLE 322 SOLIDPOWER S.P.A: BUSINESS OVERVIEW
12.2.6 WATT FUEL CELL CORPORATION
TABLE 323 WATT FUEL CELL CORPORATION: BUSINESS OVERVIEW
12.2.7 AVL LIST GMBH
TABLE 324 AVL LIST GMBH: BUSINESS OVERVIEW
12.2.8 ALTERGY
TABLE 325 ALTERGY: BUSINESS OVERVIEW
12.2.9 MICRORGANIC TECHNOLGIES
TABLE 326 MICRORGANIC TECHNOLOGIES: BUSINESS OVERVIEW
12.2.10 NEDSTACK FUEL CELL TECHNOLOGY BV
TABLE 327 NEDSTACK FUEL CELL TECHNOLOGY BV: BUSINESS OVERVIEW
12.2.11 INTELLIGENT ENERGY LIMITED
TABLE 328 INTELLIGENT ENERGY LIMITED: BUSINESS OVERVIEW
12.2.12 HORIZON FUEL CELL TECHNOLOGIES
TABLE 329 HORIZON FUEL CELL TECHNOLOGIES: BUSINESS OVERVIEW
12.2.13 NUVERA FUEL CELLS, LLC
TABLE 330 NUVERA FUEL CELLS, LLC: BUSINESS OVERVIEW
12.2.14 POWERUP ENERGY TECHNOLOGIES
TABLE 331 POWERUP ENERGY TECHNOLOGIES: BUSINESS OVERVIEW
* Business Overview and Financial Review, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.
13 APPENDIX (Page No. - 311)
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
The study involved four major activities in estimating the size for fuel cell market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next stepwas to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments..
Secondary Research
The secondary sources referred to for this research study include fuel cell organizations such as the Fuel Cell & Hydrogen Assosciation (FCHEA); U.S. Department of Energy (DOE); corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and fuel cell associations. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by primary research.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the fuel cell market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (end users) and supply-side (fuel cell supplier) players across four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World (Latin America and Middle East & Africa). Approximately 70% and 30% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.
After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global fuel cell market and its dependent submarkets. These methods were also extensively used to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global Fuel Cell Market Size: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size-using the market size estimation processes as explained above-the marketwas split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides.
Report Objectives
- To define, segment, and analyze the global fuel cell market based on type, application, end user, size, and region .
- To analyze and forecast the market size, in terms of volume (MW/kW) and value (USD million/ thousand), for the market.
- To provide a detailed analysis of various factors influencing the market(drivers, restraints, opportunities, and challenges) .
- To segment and forecast the market size by type (PEMFC, SOFC, PAFC, MFC, AFC, and DMFC).
- To segment and forecast the size of the market by application (Stationary, Portable, Fuel Cell Vehicles) .
- To segment and forecast the market size by size (Small scale and Large Scale).
- To segment and forecast the market size, by end user (Residential, Commercial & Industrial, Transportation, Data Center, Military & Defense, and Utilities & Government/Municipal Institutes).
- To forecast the fuel cell market size in key regions, namely, North America, Europe,Asia Pacific, and the Rest of the World.
- To strategically analyze markets with respect to individual growth trends, future prospects, and contribution to the total market.
Available Customizations:
MarketsandMarkets offersthe following customizations for this market report:
- Additional country-level analysis of fuel cell market
- Profiling of additional market players (up to 3)
- Country-level analysis
Generating Response ...
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