Fuel Cell Technology Market Share, Market Growth, Size, Demand, Key Player, Development Analysis and Forecast 2027

Fuel Cell Technology Global Market Report: Overview

The Global fuel cell technology market is growing with the rapid pace; mainly due to the increasing applications of fuel cells in power suppliers, automobile, residential builders and electronic companies. According to a recent study report published by the Market Research Future, The global fuel cell technology market is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).

The latest trend which will be followed by the fuel cell technology market is the expected reduction in the price of fuel cell systems. Technological advancements are leading to the development of new techniques of manufacturing of fuel cells, which is further supporting the reduction of the fuel cells being used in the automotive industry. Furthermore, the original equipment manufacturers are focusing extensively on the cost reduction and the deployment of the adequate refueling infrastructures.


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Industry/ Innovation/ Related News:

September 2017 – Ballard Power Systems has accepted a Letter of Intent to provide FCveloCity-HD 100-kilowatt fuel cell engines with the objective to power 8 ExquiCity tram-buses which are being built by Van Hool NV. The fuel cells would be used by these clean energy hybrid tram-buses for providing primary power. In case of need of the additional power, lithium batteries would be used and the only emission is water vapour. These hybrid fuel cell tram-buses offer a wide variety of benefits such as high levels of passenger comfort and safety, the highest level of operational flexibility and productivity and lower cost than a traditional tram.  

August 2017 – Nuvera Fuel Cells deployed a zero-emissions fuel cell bus and hydrogen refueling station in Boston. The National Fuel Cell Bus Program will help to bring the fuel cell and hydrogen technology into everyday use and expand clean transportation. The Fuel cells increase fuel economy, reduce the use of petroleum, and advances the U.S. energy independence, since hydrogen is produced domestically.

November 2015 – Hydrogenics signed separate supply agreements with several Chinese electric vehicle integrators to bring its fuel cell and fueling station technology to China. This was primarily done with the objective of solving the prevalent air quality issues in the region.


Industry Top Key Players:-

  • Oorja Fuel Cells 
  • AFC Energy PLC 
  • Air Products and Chemicals, Inc. 
  • Ballard Power Systems Inc.
  • Hydrogenics 
  • Nuvera Fuel Cells 
  •  Automotive Fuel Cell Cooperation 
  • Cellkraft AB 
  • EnergyOR Technologies Inc. 
  • H2 Logic A/S 
  • Intelligent Energy 


Global Fuel Cell Technology Market Report: Market Growth Influencer

The major growth drivers of Global Fuel cell technology market includes growing public private relationships, rising prices of crude oil and increasing demand for fuel cells from applications such as power suppliers, automobile, residential builders and electronic companies.

However, Policies of European government which would bring high opportunities in fuel cell technology market in the region are pending to approve and thus hindering the growth of the Fuel cell technology market.


Global Fuel Cell Technology Market – Segmentation

The Fuel Cell Technology Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by fuel type– Hydrogen, Natural Gas/Methane, Methanol

Segmentation by technology– Polymer/ Proton exchange membrane fuel cells (PEMFC), Solid oxide fuel cells (SOFC), Molten carbonate fuel cells (MCFC), Phosphoric acid fuel cells (PAFC), Direct methanol fuel cells (DMFC), Alkaline fuel cells (AFC), Direct carbon fuel cells (DCFC) and Others

Segmentation by application – Stationary, Transportation, Portable electronics

Segmentation by Regions: North America, Europe, APAC and Rest of the World.

The report on Fuel Cell Technology comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.

This report will provide the clear picture of current market scenario of Fuel Cell Technology globally as well as the country level markets. The report also provides the information about various types and methods which used to manufacture various fuel cells and it’s also deliver details information about its various applications. It will also depict detailed information about companies with their market dynamics involved in Fuel cell technologies market.


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Fuel Cell Technology Market – Regional Analysis

The global fuel cell technology market is expected to be dominated by Asia Pacific region. The growth of this market is expected to be driven by the increase in investments for the fuel cell installations, especially by countries such as China and Japan among others. The increasing awareness towards the reduction of energy consumption is also driving the growth of the market.

The Europe region is also expected to grow with rapid pace in the fuel cell technology market. The European Union has also allocated funds from the TEN-T transport infrastructure programme for funding the Hydrogen Infrastructure Project (HIT). The major objective of implementing this project is to form an interconnected hydrogen network between the Netherlands, Denmark, Sweden, and France.


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