Fuel Cells Market Size – USD 2.75 billion in 2019, Market Growth – CAGR of 25.2%, Market Trends –Growing environmental awareness
VANCOUVER, BC, CANADA, September 24, 2021 /EINPresswire.com/ — The global Fuel Cells Market is expected to reach USD 16.58 Billion by 2027, according to a new report by Emergen Research. The growth of this market can be attributed due to the growing environmental awareness among consumers and increasing government initiatives regarding the adoption of fuel cells to reduce the emission levels in the environment. Increasing research and development for the technological advancement of the products is augmenting the demand for the industry.
The report offers an industry-wide and economy-wide analysis of the market along with supply and demand dynamics, sales, and production and manufacturing capacity. It also reviews the rate of production and consumption, sales network and distribution channel, pricing analysis, profit margins, cost and demand volatility, import/export, gross revenue, among others.
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Fundamental Highlight Of The Report:
The Proton Exchange Membrane Fuel Cell (PEMFC) segment dominated the market with a share of 53.5% in 2019 due to its higher efficiencies, lower emission rate, and can operate at a lower temperature.
The transportation segment is expected to register the highest CAGR of 26.0% over the forecast period as the government of the developing countries is replacing the gasoline-based bus with fuel cells based buses in order to reduce the CO2 emission.
Asia-Pacific has the highest adoption rate in the market due to the favorable policies and initiatives of the government in countries such as Japan, China, and South Korea.
Key participants include Ballard Power Systems, Hydrogenics Corporation, FuelCell Energy, Inc., Bloom Energy, Plug Power, Inc., SFC Energy AG, Ceres Power Holdings PLC, Doosan Fuel Cell America, Intelligent Energy, and Toshiba Energy Systems & Solutions Corporation, among others.
Financial difficulties brought by the pandemic have slowed down the progression of the businesses, and disruptions in the supply chains have been seen. The report assesses the comprehensive impact of the pandemic on the overall growth of the Fuel Cells market and offers a future impact assessment.
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It offers a lucid picture of current trends in the global market, with an unbiased perspective of the leading market players, key regions/countries, end-use industries, and various product types.
Product Outlook (Revenue, USD Billion; 2017-2027)
Phosphoric Acid Fuel Cell (PAFC)
Molten Carbonate Fuel Cell (MCFC
Proton Exchange Membrane Fuel Cell (PEMFC)
Solid Oxide Fuel Cell (SOFC)
Application Outlook (Revenue, USD Billion; 2017-2027)
End-User Outlook (Revenue, USD Billion; 2017-2027)
Fuel Cell Vehicles
The Fuel Cells market intelligence report exhaustively examines the market value, share, demand, growth prospects, latest and historical trends, manufacturers, gross revenue collection, competitive terrain, market growth forecast, available products, and end-use applications.
Key terrestrial fragment examine in the Report:
North America (U.S., Canada)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Europe (U.K., Italy, Germany, France, Rest of EU)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Major apotheosis of the ToC:
Fuel Cells Market Dynamics:
Developmental Trend Analysis:
Market Trend Analysis
Market Size (Volume and Value)
Market Size Estimation
Market Breakdown and Data Triangulation
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Tonality Query you are Pump for?
Who are the leading players of the Fuel Cells industry?
Which region is expected to dominate the market in the coming years?
What are the key applications of the Fuel Cells market?
Which segment is expected to garner traction during the coming years?
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Source: EIN Presswire