Global Fuel Cells Market at an Estimated US$14.6 Billion by 2027 is an Opportunity Too Big to Ignore!
The global market for Fuel Cells is projected to reach US$14.6 billion by 2027, driven by the technology’s very vital role in helping build a clean and sustainable world for future generations.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Fuel Cells market. Report segmentation includes Type (Proton Exchange Membrane, Phosphoric Acid, Molten Carbonate, Solid Oxide, Other Types); Application (Stationary, Transportation, Portable)).
10 June 5:58 A.M., California/Marketwire/ - According to the new market research report, the global market for Fuel Cells is projected to reach US$14.6 billion by 2027, driven by the technology's very vital role in helping build a clean and sustainable world for future generations. The market is expected to stage a quick recovery from the COVID-19 pandemic and the resulting recession largely due to the fact that a clean and sustainable world also means a pandemic-free world. Greenhouse gas emissions are rising to unsustainable levels with the climate change threat worsening each year. Climate change and increasing human encroachment into fragile wildlife ecological ecosystems are identified as key reasons for the emergence and spread of zoonotic diseases. In the aftermath of the crisis, a poorer and divided world will need to face the challenge of climate change and habitat destruction. A large portion of rebuilding efforts will be directed towards building a different economy. An economy that will be more cleaner, sustainable and disease-free. Economic stimulus packages will be directed at the environment creating a real opportunity for sustainable energy technologies. Fuel Cell is a technology that takes on climate change head-on by eliminating pollution caused by burning fossil fuels. The global Fuel Cells market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Proton Exchange Membrane, one of the segments analyzed and sized in this study, is forecast to grow at over 10.9% and reach a market size of US$9.8 billion by the end of the analysis period
A fuel cell features an electrochemical energy conversion mechanism that converts hydrogen and oxygen into electricity and heat. Fuel cell is basically small and modular in nature, which makes it perfect for use as power source in various applications ranging from electric vehicles to grid-connected utility power units Fuel cell technology, with its ability to replace traditional power generating technologies based on combustion methods for stationary and mobile applications, is being promoted as a new clean and green power generation approach. In an era characterized by rising concerns over greenhouse gases, carbon footprint and climate change, the technology is steadily gaining popularity by virtue of its ability to reduce emissions of greenhouse gases, toxic pollutants and reliance on imported fuels, and also enhance global energy security. Depleting stocks and rising costs of fossil fuels are triggering concerns over how the world would address future fuel needs in industrial and transportation applications. Multi-fuel fuel cells have lower nitrogen and Sulphur emissions.
Key Competitors Covered in the Report
AFC Energy Plc
Air Liquide SA
Apollo Energy Systems Inc.
Atrex Energy Inc.
Ballard Power Systems Inc.
Bloom Energy Corporation
Ceres Power Holdings plc
Doosan Fuel Cell America Inc.
FuelCell Energy Inc.
Horizon Fuel Cell Technologies Pte Ltd.
ITM Power Plc
Mitsubishi Heavy Industries Ltd.
Nuvera Fuel Cells LLC
Plug Power Inc.
SFC Energy AG
Siemens Industry Inc.
Teledyne Energy Systems Inc.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 19739. Among this pool, 1974 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 393 unique participations, a total of 177 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.