Fuel Cells Global Strategic Business Report 2024 - Net Zero Carbon Goals and Favorable Government Policy Changes Promote Adoption of Fuel Cell Technology
Saturday, March 30, 2024
DUBLIN, March 28, 2024 /PRNewswire/ -- The "Fuel Cells - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
The global market for Fuel Cells estimated at US$11.4 Billion in the year 2023, is projected to reach a revised size of US$40.7 Billion by 2030, growing at a CAGR of 17.2% over the analysis period 2023-2030.
Proton Exchange Membrane Fuel Cells, one of the segments analyzed in the report, is projected to record 17.3% CAGR and reach US$26.8 Billion by the end of the analysis period. Growth in the Phosphoric Acid Fuel Cells segment is estimated at 17.6% CAGR for the next 8-year period.
The Fuel Cells market in the U.S. is estimated at US$2.8 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$7 Billion by the year 2030 trailing a CAGR of 23.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.2% and 16.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 16.2% CAGR.
Key Market Trends & Drivers
-- Ambitious Vision of an All-Hydrogen Economy Drives Interest in Fuel
Cells
-- Net Zero Carbon Goals and Favorable Government Policy Changes Promote
Adoption of Fuel Cell Technology
-- Carbon Neutrality Goals of Various Countries
-- Auto Industry Banks on Fuel Cells as a Sustainable Fuel Technology of
the Future
-- PEM Fuel Cells in Automobiles
-- Strong Investments to Promote Growth
-- Automakers Eye on Hydrogen Fuel Cells to Boost Gains in Post-Pandemic
Era
-- Hydrogen FCEVs Combat GHG Emissions
-- FCEV Targets Set by the Hydrogen Council for the Years 2030 and 2050
-- Hydrogen Refueling Infrastructure: Critical for the Success of FCVs
-- High Costs: The Achilles Heel of Hydrogen Fuel cells
-- Deployments of Fuel Cell Electric Bus (FCEB)
-- Focus on Enhancing Durability and Lowering Cost of Fuel Cells Increases
-- Hydrogen Fuel Cells for Motorbikes: An Opportunity to Tap
-- Fuel Cells Find Niche Applications in 2-Stroke Engine Motorcycles
-- Fuel Cell-Powered Trains and Trams: Tremendous Potential for Fuel Cell
Industry
-- Material Handling: A Successful Application of Fuel Cells
-- Marine Sector: A Nascent yet Promising Application of Fuel Cells
-- Need for Alternative Propulsion Solutions Drives Demand for Fuel Cells
in Marine Vessels Market
-- Expanding Applications in the Military Sector Augur Well for the Market
-- A Glance at Use of Fuel Cell Systems in Select Military Applications
-- Strong Demand for Portable Electronic Devices to Spur Opportunities for
Portable Fuel Cells
-- Environmental Benefits Drive Adoption of Fuel Cells in the Power Sector
-- Rising Investments in Distributed Renewable Energy Generation Enhances
Prospects for Fuel Cells
-- Global Energy Mix: 1990 Vs 2020 Vs 2030
-- Demand Response: An Expanding Application for Fuel Cells
-- Aircraft Manufacturers Take a Closer Look at Fuel-Efficient and
Eco-Friendly Fuel Cells
-- Fuel Cells for Data Center Market to Witness Notable Expansion
-- Stationary Fuel Cells Market: An Overview
-- Telecom Industry Moving towards Stationary Fuel Cells for Backup Power
-- Stationary Fuel Cells Gather Steam in Backup and UPS Stationary
Applications
-- Residential Sector Drives Demand for Stationary Fuel Cells
-- Stationary and Distributed Energy Applications Garner Attention
-- MFCs Technology: Promising Source of Alternative Power
-- Technological Benefits Continue to Propel Micro Fuel Cells Market
-- Direct Methanol Fuel Cell Preferred Choice for Portable Devices
-- Broader Adoption in Key Applications Fuels PEM Fuel Cells Market
-- Alkaline Fuel Cell Market Heading for Massive Gains
-- SOFCs: A Technology of Interest to the Developed Countries
-- Key Applications of SOFCs
-- SOFCs Gather Momentum in Stationary Cogeneration/CHP Deployments
-- SOFCs: Ideal for Distributed Power Generation
-- Technology Innovations and Research Efforts in Fuel Cell Market - A
Review of Select Developments
-- Researchers Develop Proton-Driven Fuel Cell Technology for Powering
Space Shuttles
-- Boeing's Insitu Improves Hydrogen Fuel Cell Propulsion System for UAVs
-- Ballard Power Systems Joins Hand with W. L. Gore for Advancing Fuel Cell
Technology
-- A WSU Research Team Uses Molybdenum Doped Nickle Catalyst for Making
SOFCs more Efficient
-- Innovative Fuel Cell Technology to Improve Carbon Fuel Utilization in
DCFCs
-- Self-Healing Membrane to Potentially Extend Hydrogen Fuel Cells' Life
-- New Nanomaterial to Allow Cost-Efficient Production of Hydrogen for Fuel
Cell Cars
-- Researchers at NETL Develop Innovative Method to Improve SOFC
Performance
-- Advances in Nanotechnology Enables More Efficient Fuel Cell Applications
-- Raw Material : A Review
-- Important Materials Used in Fuel Cells and Batteries
-- Challenges in Fuel Cell Commercialization
Key Report Features
-- Full access to influencer engagement stats
-- Free access to digital archives & research platform. The proprietary
platform is fully enabled to unlock creativity and market knowledge of
domain experts worldwide in a cohesive and collaborative manner. The
state-of-art tools bring world class market perspectives while
protecting participants` privacy and identity. Numbers, statistics and
market narrative in the report are based on fully curated insights
shared by domain experts and influencers in this space.
-- Opportunity to engage with interactive questionnaires that come with
real-time data simulator tools & bespoke report generation capabilities
-- Full client access to peer collaborative and interactive platform for
cross-enterprise smart exchange of ideas
-- Complimentary report updates for one year
-- Competitor coverage with global market shares of major players
-- Player market presence analysis (Strong/Active/Niche/Trivial) across
multiple geographies
-- Access to curated YouTube video transcripts of domain experts/influencer
interviews, podcasts, press statements and event keynotes
The report provides coverage of 150+ select competitors.
A selection of companies featured includes:
-- Ballard Power Systems, Inc.
-- Bloom Energy Corporation
-- Altergy Systems
-- Ceres Power Holdings PLC
-- AFC Energy PLC
-- Arcola Energy Ltd.
-- Antig Technology Co. Ltd.
-- BayoTech Inc.
-- Allatherm
-- Alvatek Limited
-- Aspen Systems, LLC.
-- Air Products Inc.
-- Coatema Coating Machinery
-- CandleLand
-- Chung-Hsin Electric and Machinery Manufacturing Corp. (CHEM)
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
-- Fuel Cells: An Introduction
-- Classification of Fuel Cells
-- Major Applications of Fuel Cells
-- Fuel Cells: Clean, Efficient, Reliable and Eco-friendly Alternative to
Conventional Petroleum-based Fuels
-- Fuel Cells Market: Prospects and Outlook
-- Major Market Drivers & Restraints
-- Government Subsidies to Promote Fuel Cell Technology
-- Increasing Adoption of EVs and Hybrid Vehicles
-- Strong Focus on Alternative Energy Sources
-- Potential for Use in Distributed Generation Applications
-- Increasing Popularity of Hydrogen Fuel
-- Stationary & PEM Fuel Cells and Fuel Cell Vehicles to Post Solid Growth
-- Polymer Electrolyte Membrane Fuel Cell Dominates Fuel Cells Market
-- Stationary and Transport Applications Lead the Fuel Cells Market
-- Clean Energy Focus Drives Use of Fuel Cells in Transportation Sector
-- Developed Economies at the Forefront of Innovation and Adoption of Fuel
Cells-based Applications
-- Developing Economies Emerge as Promising Regions for Fuel Cell Adoption
-- Cost Reductions to Benefit Market Growth
-- Cost Structure of Fuel Cell: Breakdown (%) of Cost by Key Components
-- Competitive Landscape
-- A Fairly Competitive Market
-- Participants Focus on Product Innovation and Expansion to Gain
Competitive Edge
-- Recent Market Activity
-- Startups Enter the Fray
-- World Brands
-- Fuel Cells - Global Key Competitors Percentage Market Share in 2024 (E)
-- Competitive Market Presence - Strong/Active/Niche/Trivial for Players
Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
-- United States
-- Canada
-- Japan
-- China
-- Europe
-- France
-- Germany
-- Italy
-- United Kingdom
-- Spain
-- Russia
-- Rest of Europe
-- Asia-Pacific
-- South Korea
-- Rest of World
-- Latin America
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/v8svem
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo - https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/fuel-cells-global-strategic-business-report-2024---net-zero-carbon-goals-and-favorable-government-policy-changes-promote-adoption-of-fuel-cell-technology-302101499.html
SOURCE Research and Markets
|
|
|
|
|
 |
Weekly Recap: 11 Tech Press Releases You Need to See | Jan 22, 2026
|
|
Sup AI Sets New Benchmark Record with 52.15% on Humanity's Last Exam | Jan 22, 2026
|
|
DEADLINE ANNOUNCED FOR 2026 NEW TOP-LEVEL DOMAIN APPLICATIONS | Jan 22, 2026
|
|
Trigent Partners with WeWork India to Expand its GCC Footprint | Jan 22, 2026
|
|
Skunk Works® and XTEND Expand Joint All Domain Command and Control for Advanced Mission Execution | Jan 22, 2026
|
|
Exia Labs Brings Keystone to the U.S. Navy via DIU's Blue Object Management Challenge | Jan 22, 2026
|
|
Altair HyperWorks 2026 Delivers Design and Simulation at Scale with AI | Jan 22, 2026
|
|
Glasswall Brings Defense-Level File Sanitization to Every Government Agency and Business Using Microsoft 365 | Jan 22, 2026
|
|
Buyers Edge Platform Appoints Jaime Selga to Lead Expansion Across the Middle East, Africa & Asia | Jan 22, 2026
|
|
Genpact Named a Leader in ISG Provider Lens(TM) 2025 for Insurance GCCs and Agentic AI Services | Jan 22, 2026
|
|
|
