High-Performance Fuel Cells Market Research, Industry Trends, Supply, Sales, Demands, Analysis And Insights Till 2030
High-Performance Fuel Cells Market Highlights
High-Performance Fuel Cells Market share is projected to reach USD 7.81
Billion by 2027, with 24% CAGR during the forecast period.
Global
High-Performance Fuel Cells Market is projected to be valued at USD 7.8 Billion
by 2026, with 24.0% CAGR during the forecast period, 2020–2026.
High-performance fuel cells utilize hydrogen and oxygen to generate
electricity, heat, and water. Fuel cells are similar to batteries but with
significant differences. It is also an energy storage device. The fuel cell
produces electrical energy till the fuel and oxidant are supplied to the
electrodes. Fuel cells are more reliable than heat engines as it does not have
any moving parts during operation.
FAQ’s:
- What is “High-Performance
Fuel Cells” Market?
- Who are the
Top Market manufacturers?
- Which are the
most Business Regions across the globe?
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the “High-Performance Fuel Cells” Market in upcoming Years?
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Latest developments/industry updates in the “High-Performance Fuel Cells”
Market?
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In 2019, North America dominated the high-performance
fuel cells market in terms of share: MRFR
The
global high-performance fuel cells market has been segmented into five regions,
namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and
South America. North America is expected to hold the largest share of the
market during the forecast period. This is primarily as countries in the region
are extensively focused on developing renewable energy sources to reduce carbon
emissions. In North America, the US held the largest share in the market and is
expected to grow at the fastest CAGR during the forecast period, due to the
policies that are framed to research and encourage the use of clean fuels for
energy requirements. In Europe, Germany held the largest market share in 2019
and is expected to grow at the fastest rate during the study period, primarily
due to the strategic partnerships and programs to encourage the role of
hydrogen and fuel cell technology in the country. In Asia-Pacific, China held
the largest market share in 2019 due to extensive government support to
introduce renewable energy sources. While the high-performance fuel cells
market is expected to grow at the fastest CAGR in Japan during the forecast
period due to the increasing demand for fuel cell vehicles in the country. In
the Middle East & Africa region, the UAE is expected to be one of the
leading markets for fuel cell technology.
The
global high-performance fuel cells market has been segmented based on type,
application, and end-use. Based on type, the global market is divided into
proton exchange membrane fuel cell (PEMFC), phosphoric acid fuel cell, alkaline
fuel cell, and microbial fuel cell. The PEMFC segment is expected to hold the
largest share of the market and grow at the fastest rate during the forecast
period. Based on application, the global market is classified into portable,
stationary, and transport. The transport segment is estimated to grow at the
fastest rate during the forecast period due to the increasing sales of fuel cell
vehicles. Countries such as Japan, South Korea, and China have proposed fuel
cell-based vehicle implementation plans to reduce the dependency on gasoline
fuel imports. Based on end-use, the global high-frequency fuel cell market has
been divided into fuel cell vehicles, utilities, and defense. The fuel cell
vehicle segment is expected to hold the largest share within the global
high-performance fuel cells market.
Key Players
The
key players operating in the global high-performance fuel cells market
are Hydrogenics (Canada), Ballard Power Systems (Canada), Aisin Seiki Co.
(Japan), Kyocera (Japan), Toshiba Energy Systems & Solutions Corporation
(Japan), SFC Energy (Germany), Mitsubishi Hitachi Power Systems (Japan), Ceres
Power (UK), Horizon Fuel Cell Technologies (Singapore), AFC Energy (UK),
Altergy (US), and Nuvera Fuel Cells, LLC (US).
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Scope of the Report
This
report offers an in-depth analysis of the global high-performance fuel
cells market, tracking three market segments across five geographic regions.
The report studies key players, providing a five-year annual trend analysis
that highlights the market size and shares for North America, Europe,
Asia-Pacific, South America, and the Middle East & Africa. The report also
presents a forecast, focusing on the market opportunities for the next five
years for each region. The scope of the study segments the global
high-performance fuel cells market by type, application, end-use, and region.
Type
·
Proton
exchange membrane fuel cell
·
Phosphoric
acid fuel cell
·
Alkaline
fuel cell
·
Microbial
fuel cell
Application
·
Portable
·
Stationary
·
Transport
End Use
·
Fuel
cell vehicles
·
Utilities
·
Defence
By Region
·
North
America
·
Asia-Pacific
·
Europe
·
Middle
East & Africa
· South America
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