More than 62,000 fuel cell systems were shipped across the globe in 2016, slightly up from 60,000 units in 2015

New York, USA, 2018-Aug-16 — /EPR Network/ —Growing environmental concerns across the globe and to reduce greenhouse gas mitigation, governments and technology companies are playing vital role in development of various industries to develop innovative and efficient green technologies. From past few years, green energy technologies, such as fuel cells, solar, wind, hybrid electric and biofuels has been developing significantly.

A degree of the level of concentration of private industry is the number of patents issued for innovative technologies and concepts. In US patents for innovative green energy technologies in 2011 was at an all-time high of 2,331. Emergence of fuel cell technology and energy storage systems is one of the most opportunistic and fastest growing segments for fuel cell technology market. For instance, Ballard Power Systems announced recently that it is going to deploy 500 commercial trucks in China using fuel cell technology.

Growing environmental concerns and favorable incentives from government has significantly triggered the rapid deployment and adoption of fuel cell vehicle in past couple of years, which is the major push for the global fuel cell market growth. U.S. Environmental Protection agency (EPA) regulations to control the greenhouse gases and policies like Clean Air Act may swing the focus of automotive manufacturers towards fuel cell technology over conventional sources to reduce carbon monoxide emission.

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Global Fuel Cell Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, competitive analysis includes the in-depth analysis of the major players and leaders in fuel cell industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others.

Our primary research team conducted various interviews, surveys and group discussions of industry professionals, electric vehicle manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall fuel cell industry.

Global Fuel Cell Market Segmentation can be classified on the basis of:-

By Fuel Cell Type

  • Alkaline Fuel Cell
  • Phosphoric Acid Fuel Cell
  • Molten Carbonate Fuel Cell
  • Solid Oxide Fuel Cell
  • Proton Exchange Membrane Fuel Cell
  • Direct Methanol Fuel Cell

By Fuel Cell Application

  • Stationary Power Generation
  • Portable Power Generation
  • Power Generation for Transportation

By Geography

  • North America (U.S., Canada) Fuel Cell Market {Market Share (%), Market Size (USD Billion), Shipments (Thousand Units)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Fuel Cell Market {Market Share (%), Market Size (USD Billion), Shipments (Thousand Units)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) Fuel Cell Market {Market Share (%), Market Size (USD Billion), Shipments (Thousand Units)}
  • Latin America (Brazil, Mexico and Rest of Latin America) Fuel Cell Market {Market Share (%), Market Size (USD Billion), Shipments (Thousand Units)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Fuel Cell Market {Market Share (%), Market Size (USD Billion), Shipments (Thousand Units)}

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Market Trends, Drivers and Challenges

The fuel cell industry has witnessed steady growth in 2016 on the back of hydrogen and fuel cell system utilization. Major factor considered for the growth were ongoing R&D developments and growing sales of fuel cell systems in stationery, transportation, military and material handling industries. Major automotive players are also betting on fuel cell technology for the growth of clean fuel automobiles.

For instance Toyota and Hyundai have sold more than 1,000 fuel cell powered electric vehicles in the United States and nearly 3,000 worldwide through 2016. In 2015 also, Asian shipments increased by more than 2 fold, from under 50 MW in 2014, to more than 100 MW in 2015. This figure showcases the shipments of fuel cell electric vehicles from Hyundai and Toyota, including stationary fuel cells from Japan (Ene-Farm) and Korea (POSCO Energy).

Global Fuel Cell Market Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global Fuel Cell market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

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