Fuel Cell Market expected to reach USD 9.4 billion by the end of 2024

Fuel Cell Market

 “Global Fuel Cell Market Outlook 2024: Global Opportunity And Demand Analysis, Market Forecast, 2018-2024” presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and deal landscapes.

Top Leading Companies: Toshiba, Synopsis, Business strategy, Product Portfolio, SWOT Analysis, SFC Energy, SolidPower GmbH, Hydrogenic Corporation, Nuvera Fuel Cells, United Technologies, AFC Energy PlC, Fuel Cell Energy, Ballard Power Systems, Bloom Energy.

Request a Sample Copy at: https://www.marketinsightsreports.com/reports/120484839/global-fuel-cell-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024/inquiry      

Essential points covered in Global Fuel Cell Market 2018 Research are:-

  • What will the market size and the growth rate be in 2024?
  • What are the key factors driving the Global Fuel Cell market?
  • What are the key market trends impacting the growth of the Global Fuel Cell market?
  • What are the challenges to market growth?
  • Who are the key vendors in the Global Fuel Cell market?
  • What are the market opportunities and threats faced by the vendors in the Global Fuel Cell market?
  • What are the key outcomes of the five forces analysis of the Global Fuel Cell market?

This independent 220 pages report guarantees you will remain better informed than your competition. With over 200 tables and figures examining the Fuel Cell market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2024.

Market Size and Forecast (2016-2024)

The global fuel cell market accounted for USD 2.5 billion in 2015 owing to increased shipments across the globe and rising market of fuel cell powered electric vehicles. Global fuel cell market is projected to expand at a compound annual growth rate of 18% over the forecast period i.e. 2016-2024 and expected to reach USD 9.4 billion by the end of 2024.

North-America fuel cell market dominated the global fuel cell market with more than 50% revenue share in 2015. Fuel cell manufacturers in North-America shipped fuel cell more than 150 MW across the globe, accounting 30% more than shipments from Europe and Asia-Pacific. Apart from large-scale stationary fuel cell systems, shipments also include fuel cell units for telecommunication backup systems and material handling equipments, exported to Korea, Japan, and some other countries. North-America is closely followed by the Asia-Pacific region with more than 35% market share in global fuel cell market. In 2015, Asian shipments also witnessed significant growth with more than 100 MW shipments in 2015.

Market Drivers and Challenges:

Growing environmental concerns and favorable incentives from government of several countries across the world for the development and adoption of fuel cell vehicle is one of the major growth factor for global fuel cell market. U.S. Environmental Protection agency (EPA) regulations to curb the green house gases and policies like Clean Air Act may shift the focus of automotive manufacturers towards fuel cell technology over conventional sources to reduce carbon monoxide emission. Hyundai and Daimler are some major players in fuel cell electric vehicles (FCEV) market. Government of South Korea and Japan also providing subsidies up to USD 20,000 for purchasing of fuel cell electric vehicles. Major market player are adopting business strategies to expand their business through mergers with other business or by acquisitions. In 2015, major players such as Canada-based Ballard Power Systems acquired U.S. based Protonex Technology Corp. in 2015. NEL ASA, Norway based clean fuel energy company, acquired a Denmark-based hydrogen refueling stations manufacturer for USD 65.7 Million in 2015.

Browse Full Report at:  https://www.marketinsightsreports.com/reports/120484839/global-fuel-cell-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024     

Global Fuel Cell Market Report covered insights of below mentioned regions:

  • North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
  • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
  • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
  • Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market —Size, Growth Analysis and Opportunity Analysis}
  • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
  • Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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About Tanmay

Tanmay is the Senior Director of Market Research for MarketInsightsReports. He has expertise in writing promotional content for market research reports.

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