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Synopsis
A fuel cell is an energy conversion device that continuously converts chemical energy in a fuel into electrical energy, as long as both the fuel and oxidant are available. It exhibits advantageous characteristics exceeding conventional combustion-based technologies that are currently applied in certain critical fields, such as electronic, housing power, power plants, passenger vehicles, as well as military applications. Operating with higher efficiency than combustion engines, fuel cells demonstrate an electrical energy conversion efficiency of 60% or more, with lower emissions. Water is the only product of the power generation process in hydrogen fuel cells, and thus there are no carbon dioxide emissions or air pollutants that create smog and cause health problems during operation. Moreover, fuel cells emit low noise during operation, because they contain fewer moving parts. Fuel cells come in many varieties, but they all work in generally the same manner. In essence, a fuel cell consists of three adjacent segments, namely, the anode, electrolyte, and cathode. When hydrogen undergoes an oxidation reaction at the anode (), it generates cations that migrate to the cathode through the electrolyte and free electrons that flow the external circuit. Contrarily, a reduction reaction occurs at the cathode, where oxygen is reduced to water by the cations and electrons (Ralph et al., 1998). The electrochemical reaction that occurs at the cathode is . Based on the type of electrolyte used, fuel cells can be categorized into alkaline fuel cells (AFCs), PEMFCs, phosphoric acid fuel cells (PAFCs), molten carbonate fuel cells (MCFCs), and solid oxide fuel cells (SOFCs).
The global Fuel Cell market size is expected to reach US$ 24590 million by 2029, growing at a CAGR of 29.2% from 2023 to 2029. The market is mainly driven by the significant applications of Fuel Cell in various end use industries. The expanding demands from the Transport, Stationary and Portable,, are propelling Fuel Cell market. PEMFCs, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the SOFC segment is estimated at % CAGR for the next seven-year period.
The major players in global Fuel Cell market include Bloom Energy, Panasonic, Toshiba ESS, etc. The top 5 players occupy about 56% shares of the global market. North America and Japan are main markets, they occupy about 75% of the global market. PEMFCs is the main type, with a share about 72%. Stationary is the main application, which holds a share about 67%.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Fuel Cell, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Fuel Cell market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Fuel Cell market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Fuel Cell sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Fuel Cell covered in this report include Bloom Energy, Panasonic, Plug Power, Toshiba ESS, Aisin Seiki, Toyota, Ballard, Hyundai Mobis and SinoHytec, etc.
The global Fuel Cell market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
- Bloom Energy
- Panasonic
- Plug Power
- Toshiba ESS
- Aisin Seiki
- Toyota
- Ballard
- Hyundai Mobis
- SinoHytec
- Mitsubishi
- Hydrogenics
- Pearl Hydrogen
- Honda
- SOLIDpower
- Sunrise Power
- Hyster-Yale Group
Global Fuel Cell market, by region:
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, etc.)
- Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
- South America (Brazil, etc.)
- Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Fuel Cell market, Segment by Type:
- PEMFCs
- SOFC
- MCFC
- PAFC
- Others
Global Fuel Cell market, by Application
- Transport
- Stationary
- Portable
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Fuel Cell manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Fuel Cell in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index
1 Fuel Cell Market Overview
1.1 Fuel Cell Product Overview
1.2 Fuel Cell Market Segment by Type
1.2.1 PEMFCs
1.2.2 SOFC
1.2.3 MCFC
1.2.4 PAFC
1.2.5 Others
1.3 Global Fuel Cell Market Size by Type
1.3.1 Global Fuel Cell Market Size Overview by Type (2018-2029)
1.3.2 Global Fuel Cell Historic Market Size Review by Type (2018-2023)
1.3.3 Global Fuel Cell Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Fuel Cell Sales Breakdown by Type (2018-2023)
1.4.2 Europe Fuel Cell Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Fuel Cell Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Fuel Cell Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Fuel Cell Sales Breakdown by Type (2018-2023)
2 Global Fuel Cell Market Competition by Company
2.1 Global Top Players by Fuel Cell Sales (2018-2023)
2.2 Global Top Players by Fuel Cell Revenue (2018-2023)
2.3 Global Top Players by Fuel Cell Price (2018-2023)
2.4 Global Top Manufacturers Fuel Cell Manufacturing Base Distribution, Sales Area, Product Type
2.5 Fuel Cell Market Competitive Situation and Trends
2.5.1 Fuel Cell Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Fuel Cell Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Fuel Cell as of 2022)
2.7 Date of Key Manufacturers Enter into Fuel Cell Market
2.8 Key Manufacturers Fuel Cell Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Fuel Cell Status and Outlook by Region
3.1 Global Fuel Cell Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Fuel Cell Historic Market Size by Region
3.2.1 Global Fuel Cell Sales in Volume by Region (2018-2023)
3.2.2 Global Fuel Cell Sales in Value by Region (2018-2023)
3.2.3 Global Fuel Cell Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Fuel Cell Forecasted Market Size by Region
3.3.1 Global Fuel Cell Sales in Volume by Region (2024-2029)
3.3.2 Global Fuel Cell Sales in Value by Region (2024-2029)
3.3.3 Global Fuel Cell Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Fuel Cell by Application
4.1 Fuel Cell Market Segment by Application
4.1.1 Transport
4.1.2 Stationary
4.1.3 Portable
4.2 Global Fuel Cell Market Size by Application
4.2.1 Global Fuel Cell Market Size Overview by Application (2018-2029)
4.2.2 Global Fuel Cell Historic Market Size Review by Application (2018-2023)
4.2.3 Global Fuel Cell Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Fuel Cell Sales Breakdown by Application (2018-2023)
4.3.2 Europe Fuel Cell Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Fuel Cell Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Fuel Cell Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Fuel Cell Sales Breakdown by Application (2018-2023)
5 North America Fuel Cell by Country
5.1 North America Fuel Cell Historic Market Size by Country
5.1.1 North America Fuel Cell Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Fuel Cell Sales in Volume by Country (2018-2023)
5.1.3 North America Fuel Cell Sales in Value by Country (2018-2023)
5.2 North America Fuel Cell Forecasted Market Size by Country
5.2.1 North America Fuel Cell Sales in Volume by Country (2024-2029)
5.2.2 North America Fuel Cell Sales in Value by Country (2024-2029)
6 Europe Fuel Cell by Country
6.1 Europe Fuel Cell Historic Market Size by Country
6.1.1 Europe Fuel Cell Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Fuel Cell Sales in Volume by Country (2018-2023)
6.1.3 Europe Fuel Cell Sales in Value by Country (2018-2023)
6.2 Europe Fuel Cell Forecasted Market Size by Country
6.2.1 Europe Fuel Cell Sales in Volume by Country (2024-2029)
6.2.2 Europe Fuel Cell Sales in Value by Country (2024-2029)
7 Asia-Pacific Fuel Cell by Region
7.1 Asia-Pacific Fuel Cell Historic Market Size by Region
7.1.1 Asia-Pacific Fuel Cell Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Fuel Cell Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Fuel Cell Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Fuel Cell Forecasted Market Size by Region
7.2.1 Asia-Pacific Fuel Cell Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Fuel Cell Sales in Value by Region (2024-2029)
8 Latin America Fuel Cell by Country
8.1 Latin America Fuel Cell Historic Market Size by Country
8.1.1 Latin America Fuel Cell Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Fuel Cell Sales in Volume by Country (2018-2023)
8.1.3 Latin America Fuel Cell Sales in Value by Country (2018-2023)
8.2 Latin America Fuel Cell Forecasted Market Size by Country
8.2.1 Latin America Fuel Cell Sales in Volume by Country (2024-2029)
8.2.2 Latin America Fuel Cell Sales in Value by Country (2024-2029)
9 Middle East and Africa Fuel Cell by Country
9.1 Middle East and Africa Fuel Cell Historic Market Size by Country
9.1.1 Middle East and Africa Fuel Cell Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Fuel Cell Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Fuel Cell Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Fuel Cell Forecasted Market Size by Country
9.2.1 Middle East and Africa Fuel Cell Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Fuel Cell Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Bloom Energy
10.1.1 Bloom Energy Company Information
10.1.2 Bloom Energy Introduction and Business Overview
10.1.3 Bloom Energy Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Bloom Energy Fuel Cell Products Offered
10.1.5 Bloom Energy Recent Development
10.2 Panasonic
10.2.1 Panasonic Company Information
10.2.2 Panasonic Introduction and Business Overview
10.2.3 Panasonic Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Panasonic Fuel Cell Products Offered
10.2.5 Panasonic Recent Development
10.3 Plug Power
10.3.1 Plug Power Company Information
10.3.2 Plug Power Introduction and Business Overview
10.3.3 Plug Power Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Plug Power Fuel Cell Products Offered
10.3.5 Plug Power Recent Development
10.4 Toshiba ESS
10.4.1 Toshiba ESS Company Information
10.4.2 Toshiba ESS Introduction and Business Overview
10.4.3 Toshiba ESS Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Toshiba ESS Fuel Cell Products Offered
10.4.5 Toshiba ESS Recent Development
10.5 Aisin Seiki
10.5.1 Aisin Seiki Company Information
10.5.2 Aisin Seiki Introduction and Business Overview
10.5.3 Aisin Seiki Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Aisin Seiki Fuel Cell Products Offered
10.5.5 Aisin Seiki Recent Development
10.6 Toyota
10.6.1 Toyota Company Information
10.6.2 Toyota Introduction and Business Overview
10.6.3 Toyota Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Toyota Fuel Cell Products Offered
10.6.5 Toyota Recent Development
10.7 Ballard
10.7.1 Ballard Company Information
10.7.2 Ballard Introduction and Business Overview
10.7.3 Ballard Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Ballard Fuel Cell Products Offered
10.7.5 Ballard Recent Development
10.8 Hyundai Mobis
10.8.1 Hyundai Mobis Company Information
10.8.2 Hyundai Mobis Introduction and Business Overview
10.8.3 Hyundai Mobis Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Hyundai Mobis Fuel Cell Products Offered
10.8.5 Hyundai Mobis Recent Development
10.9 SinoHytec
10.9.1 SinoHytec Company Information
10.9.2 SinoHytec Introduction and Business Overview
10.9.3 SinoHytec Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.9.4 SinoHytec Fuel Cell Products Offered
10.9.5 SinoHytec Recent Development
10.10 Mitsubishi
10.10.1 Mitsubishi Company Information
10.10.2 Mitsubishi Introduction and Business Overview
10.10.3 Mitsubishi Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Mitsubishi Fuel Cell Products Offered
10.10.5 Mitsubishi Recent Development
10.11 Hydrogenics
10.11.1 Hydrogenics Company Information
10.11.2 Hydrogenics Introduction and Business Overview
10.11.3 Hydrogenics Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.11.4 Hydrogenics Fuel Cell Products Offered
10.11.5 Hydrogenics Recent Development
10.12 Pearl Hydrogen
10.12.1 Pearl Hydrogen Company Information
10.12.2 Pearl Hydrogen Introduction and Business Overview
10.12.3 Pearl Hydrogen Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.12.4 Pearl Hydrogen Fuel Cell Products Offered
10.12.5 Pearl Hydrogen Recent Development
10.13 Honda
10.13.1 Honda Company Information
10.13.2 Honda Introduction and Business Overview
10.13.3 Honda Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.13.4 Honda Fuel Cell Products Offered
10.13.5 Honda Recent Development
10.14 SOLIDpower
10.14.1 SOLIDpower Company Information
10.14.2 SOLIDpower Introduction and Business Overview
10.14.3 SOLIDpower Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.14.4 SOLIDpower Fuel Cell Products Offered
10.14.5 SOLIDpower Recent Development
10.15 Sunrise Power
10.15.1 Sunrise Power Company Information
10.15.2 Sunrise Power Introduction and Business Overview
10.15.3 Sunrise Power Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.15.4 Sunrise Power Fuel Cell Products Offered
10.15.5 Sunrise Power Recent Development
10.16 Hyster-Yale Group
10.16.1 Hyster-Yale Group Company Information
10.16.2 Hyster-Yale Group Introduction and Business Overview
10.16.3 Hyster-Yale Group Fuel Cell Sales, Revenue and Gross Margin (2018-2023)
10.16.4 Hyster-Yale Group Fuel Cell Products Offered
10.16.5 Hyster-Yale Group Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Fuel Cell Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Fuel Cell Industrial Chain Analysis
11.4 Fuel Cell Market Dynamics
11.4.1 Fuel Cell Industry Trends
11.4.2 Fuel Cell Market Drivers
11.4.3 Fuel Cell Market Challenges
11.4.4 Fuel Cell Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Fuel Cell Distributors
12.3 Fuel Cell Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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