High-Performance Fuel Cells Market is Poised to Reflect 24.0% CAGR by 2026 | Market Research Future (MRFR)

Key Companies Profiled are Ballard Power Systems (Canada), Toshiba Energy Systems & Solutions Corporation (Japan), Hydrogenics (Canada), SFC Energy (Germany), Mitsubishi Hitachi Power Systems (Japan), Aisin Seiki Co. (Japan), Ceres Power (UK), Altergy (US), Horizon Fuel Cell Technologies (Singapore), Kyocera (Japan), AFC Energy (UK), Nuvera Fuel Cells, LLC (US).


Pune, March 04, 2021 (GLOBE NEWSWIRE) -- Market Analysis

Market Research Future (MRFR) presumes the global high-performance fuel cells market to reach USD 7.8 billion at a CAGR of 24.0% from 2020 to 2026 (forecast period). 

Fuel cells help convert the chemical potential energy into electrical energy. The by-products of the reaction in fuel cells are water, electricity, and heat. In addition, there are high-performance fuel cells that convert waste methane into electrical energy. There are many types of fuel cells, including alkaline fuel cells, phosphoric acid fuel cells, microbial fuel cells, and others.

The growing demand for electricity from renewable energy sources and the need to decarbonize energy end-use are the main factors accelerating the growth of the global high-performance fuel cell market. Energy generation companies are focused on reducing carbon emissions, which are expected to boost demand for high-performance fuel cells during the forecast period. In addition, government entities across the globe have developed numerous initiatives to increase the adoption of high-performance fuel cells, which are expected to push market growth during the forecast period. However, the dearth of a hydrogen infrastructure is expected to hinder the development of the global market for high-performance fuel cells.




Get Free Sample PDF Brochure:

https://www.marketresearchfuture.com/sample_request/10080




COVID-19 Impact on the Global High-Performance Fuel Cells Market

Implementation of a set of regulations by governments of various countries to deal with the COVID-19 crisis, such as a complete shutdown of manufacturing units, is found to have significant effects on the growth of the global high-performance fuel cells industry.

Market Segmentation

The global high-performance fuel cells industry has been segmented based on type, application, and end-use.

Based on type, the global high-performance fuel cells market has been segmented into alkaline fuel cells, microbial fuel cells, proton exchange membrane fuel cells (PEMFC), and phosphoric acid fuel cells. The PEMFC segment is anticipated to hold the largest share of the global market and grow at the fastest rate over the predicted period. The alkaline fuel cell segment also holds a significant share of the high-performance fuel cells market.

By application, the global high-performance fuel cells market has been segmented into portable, stationary, and transport. The transport segment is projected to grow at the fastest rate during the forecast period due to the growing sales of fuel cell vehicles, like fuel cell buses, in North America and the Asia Pacific. 

By end-use, the global high-performance fuel cells market has been segmented into fuel cell vehicles, utilities, and defense. The fuel cell vehicle segment is anticipated to hold the largest share within the global high-performance fuel cells market.




Browse In-depth Market Research Report (111 pages) on High-Performance Fuel Cells:

https://www.marketresearchfuture.com/reports/high-performance-fuel-cells-market-10080




Regional Analysis

Region-wise, the global high-performance fuel cells market has been segmented into the Asia Pacific, Europe, North America, the Middle East & Africa, and South America.

North America to capture the largest market share.

North America is predicted to retain the largest market share in the forecast period. This is partly due to the fact that the countries in the region are increasingly focused on developing renewable energy sources to minimize carbon emissions. In North America, the US earned the largest market share and is projected to rise at the fastest CAGR during the predicted period due to policies that are focused on research and promoting the use of renewable fuels for energy requirements.

Asia Pacific is projected to rise at the fastest pace during the forecast period, mainly as a result of the various government initiatives introduced in the region to increase the adoption of renewable energy sources. In Asia Pacific, China had the largest market share in 2019 due to robust government support for the introduction of renewable energy sources. However, the high-performance fuel cell market is expected to expand at the fastest CAGR in Japan during the projected period owing to the rising demand for fuel cell vehicles in the country.



Share Your Queries:

https://www.marketresearchfuture.com/enquiry/10080




Competitive Landscape


The key players active in the global market for high-performance fuel cells are.

  • Ballard Power Systems (Canada)
  • Toshiba Energy Systems & Solutions Corporation (Japan)
  • Hydrogenics (Canada)
  • SFC Energy (Germany)
  • Mitsubishi Hitachi Power Systems (Japan)
  • Aisin Seiki Co. (Japan)
  • Ceres Power (UK)
  • Altergy (US)
  • Horizon Fuel Cell Technologies (Singapore)
  • Kyocera (Japan)
  • AFC Energy (UK)
  • Nuvera Fuel Cells, LLC (US).

Many major players like Ballard Power Systems, SFC Energy, and Hitachi Power Systems are participating in fuel cell development projects. For example, in April 2020, Mitsubishi Hitachi Power Systems started developing a hybrid power system that blends a solid oxide fuel cell with a microgas turbine. Such developments are expected to improve the growth of the global high-performance fuel cell market during the forecast period.

Summary

The global high-performance fuel cells market size is predicted to reach USD 7.8 billion at a CAGR of 24.0% from 2020 to 2026 (forecast period). The fuel cell generates electrical energy till the fuel and oxidant are supplied to the electrodes. Fuel cells are much more reliable than heat engines because they have no moving parts during operation. The growing demand for electricity from renewable energy sources and the need to decarbonize energy end-use are the main aspects boosting the growth of the global high-performance fuel cell market. Energy generation companies are working on reducing carbon emissions, which are estimated to boost demand for high-performance fuel cells during the forecast period. In addition, government bodies worldwide have developed multiple initiatives to increase the adoption of high-performance fuel cells, which are estimated to push market growth during the forecast period. However, the lack of hydrogen infrastructure is expected to hamper the growth of the global high-performance fuel cell market.


Browse Related Reports:

Global Fuel Cell Powertrain Market Research Report: Information By Component (Fuel Cell System, Battery System, Drive System, Hydrogen Storage System and Others), Drive Type (Rear Wheel Drive  (RWD), Front Wheel Drive  (FWD) and All-Wheel Drive (AWD)) Vehicle Type (Passenger Cars, Light Commercial Vehicle (LCV), Buses and Trucks), Power Output (Less than 150 KW, 150–250 KW and More than 250 KW) – Forecast till 2026

Global Fuel Cell Technology Market Research Report: Information, By Fuel Type (Hydrogen, Methane and others), By Method (PEM, DMFC, PAFC, SOFC, MCFC, AFC and others), By Application (Stationary, Transportation and Portable Power) - Forecast till 2025

Automotive Fuel Cell Market Research Report by Electrolyte Type (PEMFC, PAFC), by Components (Fuel Processor, Power Conditioner and Fuel Stack), by Power Output (<100KW, 100-200KW, >200KW), Fuel Type (Hydrogen, Methanol), Vehicle Type –Forecast to 2023

Global Solid Oxide Fuel Cell Market Research Report Information: Type (Planar, Tubular) Mobility (Stationary, Portable) Application (Combined Heat & Power) End-user – Forecast till 2023

Global Hydrogen and Fuel Cells Market By Type (Air-Cooled Type and Water-Cooled Type), By Application (Stationary, Transport and Portable) - Global Forecast to 2025

Global Fuel Cells for Marine Vessels Market Research Information by Type (PEMFC, SOFC, PAFC, DMFC, and Others), Application (Commercial, Defense), Power Output (<200 KW, >200KW), & Region – Global Forecast till 2023

Global Hydrogen Fuel Cell Vehicle Market Information By Technology (Proton Exchange Membrane Fuel Cell, Alkaline Fuel cell, Solid Oxide Fuel Cell), By Vehicle Type(Commercial Vehicle and Passenger Cars)and Region - Forecast To 2023

Global Microbial Fuel Cell Market Research Report: Information by Type (Mediator and Non-Mediator), Application (Power Generation, Wastewater Treatment, Biosensor), End-User (Agriculture, F&B, Healthcare, Government & Municipal) & Region – Forecast till 2023

Global Direct Methanol Fuel Cell (DMFC) Market Research Report: Information by Component (Electrode, Membrane, Balance of System and Balance of Stack), Type (Serpentine Flow Field Design and Parallel Flow Field Design), Application (Portable, Stationary and Transportation), Power Output (Less than 1KW, 1KW –5KW and Above 5 KW) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2024

Global Solar Encapsulation Market Research Report: Information By Technology (Thin-Film Solar Technology, Cadmium Telluride (CDTE), {Copper Indium Gallium Selenide (CIGS) and Amorphous Silicon (A-SI)} and Polycrystalline Silicon), Material (Ethylene Vinyl Acetate, Polydimethylsiloxane, Ionomers, Polyvinyl Butyral and Others {Thermoplastic Polyurethane (TPU) and Polyolefin}), End-Use (Automotive, Electronics, Construction and Others) and Region (North America, South America, Europe, Asia-Pacific and Middle East &amp; Africa) - Forecast till 2026

Global Fixed Tilt Solar PV Market Research Report: Information By Technology (Crystalline Silicone, Thin Film and Others), Application (On-Grid and Off-Grid) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2026


About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Follow Us: LinkedIn | Twitter

 

Contact Data