The global Hydrogen Fuel Cell market was valued at USD 10.49 Billion in 2018 and is projected to grow at a CAGR of 21.4% from 2020 to reach USD 59.81 Billion by the year 2028. Hydrogen fuel cells are known to be used in a broad range of applications like cars, buildings, electronic devices, trucks, and/or backup power systems. As those fuel cells can be grid-independent, they are an attractive option for critical load functions such as telecommunication towers, data centers, emergency response systems, hospitals, and even military applications for national defense.
A Hydrogen fuel cell is a device that generates electrical power by a chemical reaction via conversion of fuel (hydrogen) into electricity. Although fuel cells are considered to be electrochemical cells and consist of similar structures, fuel cells require an uninterrupted source of oxygen and fuel to run, similar to how an internal combustion engine that needs a constant flow of gasoline or diesel.
Manufacturers are zeroing-in on the hydrogen economy as the concern for the environment is growing. Hydrogen fuel cells are also scalable. They can be combined to form stacks, which in turn can be combined to form larger systems. These fuel systems vary in sizes and power, from portable systems for smartphone battery recharging, to combustion engine replacements for electric vehicles, to large-scale, multi-megawatt installations providing electricity directly to the utility grid.
Growth in demand for electric vehicles is driving the market for hydrogen fuel cells. An increase in carbon emissions has attracted the government’s attention to the usage of electric vehicles. Another factor impacting the market is the growing concern for the environment. The over-exploitation of fossil fuels has created ecological concerns due to harmful gas emissions. The need for reduced dependence on oil and diesel are propelling the demand of the market.
To get sample PDF copy of the report, visit @ https://www.reportsanddata.com/sample-enquiry-form/2061
Key Players Profiled in the Report are:
Toshiba Corporation, Panasonic Corporation, Materials Handling Inc., Fuel cell Energy Inc., Intelligent Energy Limited, SFC Energy AG, Ballard Energy Corporation, Plug Power Inc., Bloom Energy Corporation, Hydrogenic Corporation
The competitive scenario segment of the report focuses on company overview, total revenue, market potential, market share, growth rate, global presence, estimated revenue, products and services offered, and business strategies adopted. Significant players operating in the global Hydrogen Fuel Cell market are evaluated by considering market share, growth rate, revenue share, and product markets. The report focuses on a detailed explanation of competition, market growth size, margins, market shares, revenue estimation, business strategies and opportunities, mergers and acquisitions, sales, industry insights, and key factors.
For the purpose of this particular report, Reports and Data segments the Hydrogen Fuel Cell market on the basis of: product type, technology, application, and regions
Product Type (Revenue, USD Million; Volume in Megawatt, 2020–2028)
- Liquid-Cooled Type
- Air-Cooled Type
Technology Type (Revenue, USD Million; Volume in Megawatt, 2020–2028)
- Polymer Exchange Membrane Fuel Cells (PEMFC)
- Phosphoric Acid Fuel Cells (PAFC)
- Solid Oxide Fuel Cells (SOFC)
- Direct Methanol Fuel Cells (DMFC)
- Molten Carbonate Fuel Cells (MCFC)
Application (Revenue, USD Million; Volume in Megawatt, 2020–2028)
- Material Handling Equipment
- Portable Power
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Request discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2061
To summarize, the report titled ‘Global Hydrogen Fuel Cell Market’ provides a detailed report of the market by extensive research about the companies involved, current market status, drivers and constraints, and current and future COVID-19 oriented scenario. The study explores the historical years to provide insights into market estimation and fruitful opportunities for key players and new ventures.
Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global Hydrogen Fuel Cell market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures
- Regional analysis to provide insight into recent trends and opportunities
To know more about the “Hydrogen Fuel Cell Market” report, visit @ https://www.reportsanddata.com/report-detail/hydrogen-fuel-cell-market
The report covers macro and micro-economic factors that are anticipated to affect market growth and dynamics. Along with this, the report also offers insights into the social, political, economic, and legal aspects that are anticipated to influence the growth of the market. Moreover, the report provides a thorough analysis of the size in terms of value and volume and offers an accurate forecast of the market growth and expansion.
Thank you for reading our report. For customization inquiry or further information, please connect with us, and we will ensure you get the report that meets your requirements.
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Power and Energy, and Chemicals. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: [email protected]
Reports and Data | Web: www.reportsanddata.com
Explore our related report from different Publications:https://clarkcountyblog.com/