Rising
government initiatives, partnership between companies towards development and
adoption of fuel cell and growing concerns regarding rising carbon emissions to
fuel global fuel cell market through 2023
According to
TechSci Research report, “Global Fuel Cell Market By Application, By Type,
By Region, Competition, Forecast & Opportunities, 2013-2023”,
the global fuel cell market is projected to grow at a CAGR of 18% during 2018 -
2023, on account of increasing collaboration between public & private
organizations to encourage deployment and adoption of fuel cells along with
increasing deployment of fuel cell for power generation and power back-up in
data-center, retail, etc. On the basis of application, global fuel cell market
is segmented into stationary, transport and portable. Of all, transport fuel cell is projected to witness the
fastest growth during forecast period owing to increasing investment in
development of FCEV (Fuel Cell Electric Vehicles) with companies, such as
Toyota, Hyundai, Honda, etc., offering FCEVs and a growing number of fuel cell
powered buses, forklifts, etc. Moreover, fuel cell offerings for boats,
unmanned vehicles, etc., is also rising, thereby further uplifting market
potential of transport fuel cells, globally. Among types, Proton Exchange
Membrane (PEM) Fuel Cells are dominating the market on the back of rising
demand for stationary power generation and powering heavy duty vehicle.
Browse 30 market data Table and 78 Figures spread
through 143 Pages and an in-depth TOC on "Global
Fuel Cell Market"
Bloom Energy Corporation, Ballard Power Systems
Inc., Plug Power Inc., FuelCell Energy, Inc., SFC Energy AG, Hydrogenics
Corporation, Doosan Fuel Cell America, Inc., Toshiba Energy Systems &
Solutions Corporation, Intelligent Energy Limited, Nedstack fuel cell
technology BV, etc., are the major companies operating in global fuel cell
market. Asia-Pacific accounts for the largest share in the global fuel cell
market due to rising government initiatives to boost adoption of FCEVs in the
region. Countries such as Japan, South Korea and China are actively encouraging
adoption of fuel cells, with Japan targeting over 40,000 FCEVs by 2020.
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“Rising
awareness towards reducing carbon emissions and increasing focus on deploying
environment friendly source of power generation is leading to growing adoption
of fuel cells across the world. In addition, popularity of eco-friendly is
rising at a significant pace globally, with companies such as Riversimple, TATA
Motors, Siemens Alstom, Daimler AG, etc., introducing fuel cell powered
vehicles. Moreover, fuel cell powered forklifts are rapidly gaining traction,
with over 16,000 fuel cell powered forklift in the United States, over 400 in
Canada and 77 in Japan. Additionally, growing focus on establishing hydrogen
infrastructure would further steer growth in the global fuel cell market during
forecast period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Fuel Cell Market By Application, By
Type, By Region, Competition, Forecast & Opportunities, 2013-2023” has
evaluated the future growth potential of fuel cell market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in the global fuel cell market.
About TechSci
Research
TechSci Research
is a leading global market research firm publishing premium market research
reports. Serving 700 global clients with more than 600 premium market research
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market trends.
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