Fuel Cells Market Trends and Forecast 2016 - 2024

Transparency Market
Research
Fuel Cells Market - Global Industry Analysis, Size, Share,
Growth Trends, and Forecast 2016 - 2024
Published Date
21-june-2016
91 Page Report
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Press Release
Fuel Cells Market Volume and Revenue Anticipated to Reach
1504,005 Units and US$ 27.25 Bn, by 2024 :TMR
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Fuel Cells Market
REPORT DESCRIPTION
Fuel Cells Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 2024
Transparency Market Research has released a new market report titled “Fuel Cells Market - Global Industry
Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024”. According to this report, the global fuel
cells market volume stood at 186,210 units and is expected to reach 1504,005 units by 2024 at a CAGR of
24.58% from 2016 to 2024. The global market for fuel cells, by revenue stood at US$ 3.59 Bn in 2015 and
is expected to reach US$ 27.25 Bn by 2024 at a CAGR 23.64% from 2016 to 2024.
Complete Report with TOC : http://www.transparencymarketresearch.com/fuel-cell-market.html
Fuel cells are electro-chemical devices that transform the chemical energy into heat and electricity by the
oxidation of fuel (hydrogen, natural gas and methanol) contained in the fuel cell. The fuel cells usually
comprises electrodes and electrolytes between which the oxidation reaction takes place. Electrolytes used
in fuel cells are materials that contain many ions (atoms or molecules that have a net electrical charge),
making it easy for an electric current to flow through them. Basic fuel cell components include electrodes,
membranes, catalysts, polymers, and ceramics. These components are procured from the suppliers along
with the components such as valves subsystem, membrane electrode assembly (MEA), which are then
forwarded to the system integrators. Catalysts (platinum, nickel, and conductive ceramics) are used to
speed up the reaction at the electrodes
The only byproducts are water and a small amount of nitrous oxide due to which fuel cells are eco-friendly,
safe, and secure to use. Fuel cells are not thermal energy based, they generate power using hydrogen as a
basic ingredient. The heat and electricity generated from fuel cells is utilized in various industries for
different applications such as stationary, transportation, and portable. Fuel cells involve hydrogen and
other gases as one of the basic components for generating power. Hydrocarbon fuels such as methanol,
ethanol are also used in extracting hydrogen during reformation procedure. This procedure leads to carbon
dioxide emissions up to a certain extent, however, highly efficient plants release negligible amounts of
carbon dioxide.
Research and development activities in demonstration and adoption of improved and efficient fuel cell
technology would reduce carbon dioxide emissions and enhance the efficiency of power delivered. Rapid
population growth, high dependency on fossil fuels, increasing electricity demand, strict government
regulations to minimize carbon emissions, and high awareness in different countries about clean energy
usage are the main drivers for the fuel cells market
Fuel cells are emerging technologies, which are currently utilized as a source of heat and electricity in
buildings and the commercial sector. The use of fuel cells in applications such as stationary, portable, and
transport is expected to increase significantly throughout the forecast period as even more stringent
environmental legislation are enforced. Currently, stationary applications of fuel cells, such as in CHP and
backup power systems, dominates the market for fuel cells. Portable applications mainly include consumer
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Fuel Cells Market
electronics such as laptops, tablets, mobiles, and cameras. The use of fuel cells in the transportation sector
is moderate. However, constant research and development activities going on by different governments
and companies to integrate efficient fuel cell system in vehicles such as buses, trucks, cars etc. would
boost the demand for fuel cells in transportation sector in the next few years.
The fuel cells market has been segmented in terms of type, application and geography. By type, the fuel
cell market has been segmented into proton exchange membrane fuel cells (PEMFC), direct methanol fuel
cells (DMFC), solid oxide fuel cells (SOFC), and others. By Application, the market has been segmented into
stationary, portable, and transport. By type, proton exchange membrane fuel cells (PEMFC) held the
largest share (62.42%) of the market in 2015. By application, stationary held the largest share (64.82%) for
the market in 2015.
Growth in the fuel cells market is driven by the need for adoption of cleaner fuel sources, high electricity
demand, excess depletion of fossil fuels and stringent regulatory norms to minimize carbon emissions.
Rapid population growth followed by high electricity demand has resulted in a paradigm shift towards
alternate sources of electricity generation such as fuel cells. Rapid rise in the industrial application of
hydrogen gas is expected to boost the demand for fuel cells globally. However, distribution and
transportation challenges associated with hydrogen coupled with the high cost of fuel used in fuel cells
such as hydrogen or other gas as against fossil fuels may restrain growth of the fuel cells market. Key
players in the fuel cells market include AFC Energy PLC, Ballard Power Systems Inc., Doosan Fuel Cell
America, Inc., FuelCell Energy, Inc., Hydrogenics Corporation, Nedstack Fuel Cell Technology B.V., Plug
Power, Inc., Panasonic Corporation, SFC Energy AG, and Toshiba Corporation. The fuel cells market has
been segmented as follows:
Fuel Cells Market: By Type
•
Proton Exchange Membrane Fuel Cells (PEMFC)
•
Direct Methanol Fuel Cells (DMFC)
•
Solid Oxide Fuel Cells (SOFC)
•
Others
Fuel Cells Market: By Application
•
Stationary
•
Portable
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Fuel Cells Market
•
Transport
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TABLE OF CONTENT
Table of Contents
Section 01 Preface
Preface
Market Segmentation
Section 02 Executive Summary
Executive Summary – Fuel Cells Market
Section 03 Industry Analysis
Value Chain Analysis
Value Chain Analysis
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Fuel Cells Market
Market Dynamics
Driver 1 – Fuel cells to play a vital role in back-up power options
Driver 2 – Eco-friendly and silent characteristics
Driver 3 – High energy density than batteries
Restraint 1– High switching cost and lack of infrastructure hindering growth of fuel cell market
Opportunity 1 – Strict government regulations to minimize carbon emissions has resulted in a
paradigm shift toward green energy
Porter’s Five Forces Analysis
Bargaining Power of Suppliers
Bargaining Power Of Buyers
Threat of Substitutes
Threat of New Entrants
Degree of Competition
Market Attractiveness – Fuel Cells Market
Company Market Share Analysis – Fuel Cells Market
Section 04 Type Segment Analysis
Introduction – Fuel Cells Market, Type Segment
Fuel Cells Market, Type Segment
Fuel Cells Market– PEMFC
Fuel Cells Market– DMFC
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Fuel Cells Market
Fuel Cells Market– SOFC
Fuel Cells Market– Others
Section 05 Application Analysis
Introduction – Fuel Cells Market, Application Segment
Fuel Cells Market, Application Segment
Fuel Cells Market– Stationary
Fuel Cells Market– Portable
Fuel Cells Market– Transport
Section 06 Geographical Analysis
Fuel Cells Market – Regional Overview
Fuel Cells Market – North America
North America Fuel Cells Market
S. Fuel Cells Market
S. Fuel Cells Market by Application
S. Fuel Cells Market by Type
Canada Fuel Cells Market
Canada Fuel Cells Market by Application
Canada Fuel Cells Market by Type
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Fuel Cells Market
Fuel Cells Market – Europe
Europe Fuel Cells Market
Germany Fuel Cells Market
Germany Fuel Cells Market by Application
Germany Fuel Cells Market by Type
K. Fuel Cells Market
K. Fuel Cells Market by Application
K. Fuel Cells Market by Type
Rest of Europe Fuel Cells Market
Fuel Cells Market – Asia Pacific
Asia Pacific Fuel Cells Market
Japan Fuel Cells Market
Japan Fuel Cells Market by Application
Japan Fuel Cells Market by Type
South Korea Fuel Cells Market
South Korea Fuel Cells Market by Application
South Korea Fuel Cells Market by Type
China Fuel Cells Market
China Fuel Cells Market by Application
China Fuel Cells Market by Type
Rest of Asia Pacific Fuel Cells Market
Rest of Asia Pacific Fuel Cells Market by Application
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Fuel Cells Market
Rest of Asia Pacific Fuel Cells Market by Type
Fuel Cells Market – Rest of the World
Rest of the World Fuel Cells Market by Application
Rest of the World Fuel Cells Market by Type
Section 07 Company Profiles
AFC Energy PLC
Ballard Power Systems Inc.
Doosan Fuel Cell America, Inc.
FuelCell Energy, Inc.
Hydrogenics Corporation
Nedstack Fuel Cell Technology B.V.
Plug Power, Inc.
Panasonic Corporation
SFC Energy AG
Toshiba Corporation
Complete Report with TOC : http://www.transparencymarketresearch.com/fuel-cell-market.html
About Us
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Fuel Cells Market
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