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The global fuel cell market is estimated to grow at a CAGR of nearly 20.0% during the forecast period. The major factors offering an opportunity for the growth of the market include the increasing demand for electric vehicles and government initiatives for the adoption of fuel cell technology.
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Orion Market Research Global Fuel Cell Market, Size, Share, Analysis Report & Forecast to 2025 Request a Free Sample of our Global Fuel Cell Market: https://www.omrglobal.com/request- sample/fuel-cell-market Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +91 780-304-0404
The global fuel cell market is estimated to witness potential growth during the forecast period. Favorable government initiatives for the adoption of fuel cell technology is offering enormous opportunity for the growth of the market. The government and several private sector companies are working to leverage their commitments to fuel cells and hydrogen, to strengthen its energy infrastructure. As per the Fuel Cell & Hydrogen Energy Association (FCHEA), in Japan, in 2018, nearly 265,000 ENE-FARM residential fuel cells, have been deployed for residential application. By 2030, Japan plans to install 5.3 million of such residential fuel cell units. With this initiative, the government aims to move towards a self-sustaining energy future. In the transportation sector, fuel cell and hydrogen have also flourished in Japan with government initiatives and industry innovation and; by 2018, over 2,800 fuel cell vehicles (FCVs) were on the roads, led by Toyota and Honda. The industrial application of fuel cells has also continued to emerge, with 100 forklifts powered by fuel cell operating in Japan in 2018. In January 2018, Japan’s Ministerial Council on Renewable Energy, Hydrogen and Related Issues exposed a novel strategy, that enables Japan to move towards the global path to a carbon-free society. A full Report of Global Fuel Cell Market is Available at: https://www.omrglobal.com/industry- reports/fuel-cell-market This strategy is intended to encourage the demand for hydrogen FCVs by decreasing the cost of hydrogen fuel to nearly one-fifth of its current cost by 2050. With the competitive pricing of hydrogen fuel against liquefied natural gas and gasoline, the country can reach near to its target of 40,000 FCVs on the road by 2020 and 800,000 by 2030. In addition, the Japanese government plans to introduce new regulatory reforms which aim to leverage the building of hydrogen fuel stations, with nearly 320 stations by 2025.Further, in South Korea, as of 2018, 14 hydrogen fueling stations and 2,000 FCVs were in operation across South Korea. South Korea estimates nearly 6.2 million vehicles combined with 1,200 hydrogen stations by 2040. Request a Free Sample of our Global Fuel Cell Market: https://www.omrglobal.com/request- sample/fuel-cell-market A partnership between SK E&C and Bloom Energy, a fuel cell manufacturer reported in November 2018, has strengthened the energy potential for stationary fuel cell systems in the country, as the country has been investing in and focusing on installing fuel cells on large-scale. With the support of Bloom Energy Servers, SK E&C will deliver 6 MW of fuel cell stacks to South Korea’s regional power generation companies, Korea Midland Power Co. (KOMIPO). This project will be implemented in the Seoul metropolitan area and will power over 12,000 homes. These kinds of government initiatives to increase the installation and adoption of fuel cell technology will drive the global fuel cell mallet in the near future. Fuel Cell Market Segmentation By Type • • • Polymer Electrolyte Membrane Fuel Cell (PEMFC) Solid Oxide Fuel Cell (SOFC) Molten Carbonate Fuel Cell (MCFC)
• • Phosphoric Acid Fuel Cell (PAFC) Others (Alkaline Fuel Cell (AFC) and Direct Methanol Fuel Cell (DMFC)) By Application • • • Stationary Portable Transportation Fuel Cell Market – Segment by Region North America • • United States Canada Europe • • • • • • Germany United Kingdom France Spain Italy Rest of Europe Asia-Pacific • • • • China Japan India Rest of Asia-Pacific Rest of the World Company Profiles •Acumentrics, Inc. •AFC Energy plc •Altergy Systems •Ballard Power Systems Inc. •Bloom Energy •Ceres Power Holdings plc •Doosan Fuel Cell America, Inc. •FuelCell Energy, Inc. •Fuji Electric Co., Ltd.
•Hydrogenics Corp. •Hyundai Motor Co. •Neah Power Systems, Inc. •Nedstack Fuel Cell Technology BV •Nuvera Fuel Cells, LLC •Oorja Corp. •Plug Power Inc. •Proton Power Systems plc •SFC Energy AG •Shanghai Shenli Technology Co., Ltd. •SOLIDpower S.p.A. •Toshiba Corp. •United Technologies Corp. For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report- customization/fuel-cell-market About Orion Market Research Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research- based services. For More Information, Visit Orion Market Research Media Contact: Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +91 7803040404
