According to Trends Market Research, the global hydrogen fuel cell market was worth $476.78 million in 2017 and is expected to reach $55,061.4 million by 2026, growing at a CAGR of 69.5% during the year. forecast period. Growing adoption of electric and hybrid vehicles, growing demand in telecommunications, automotive and residential micro-CHP, and decreasing dependence on non-renewable energy sources are some of the factors which drive the growth of the market. However, the high cost of switching to this technology and the reduction in hydrogen filling stations are restraining the growth of the market. Additionally, expanding adoption of new fuel cost reduction techniques among fuel manufacturers provides ample growth opportunities for the market.
A hydrogen fuel cell is a device that converts hydrogen and oxygen into water, while producing electricity. In a hydrogen fuel cell device, the flow of chemicals into the cells is continuous, ensuring that the battery does not discharge. Hydrogen fuel cells are used as an alternative fuel in automobiles, in portable power systems, and also for power generation.
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Based on the product, the air-cooled type segment is likely to have huge demand over the forecast period as this type uses two major methods like active and passive methods. Both of these methods provide efficient and cost-effective cooling, which promotes their growth. By geography, Asia-Pacific is witnessing significant growth over the forecast period due to increasing population and growing disposable income.
Some of the key players profiled in the hydrogen fuel cell market include Toshiba Corporation, Sunrise Power, SFC Energy AG, Plug Power Inc, Pearl Hydrogen, Panasonic Corporation, Nedstack Fuel Cells Technology BV, Intelligent Energy, Hyster-Yale Group, Hydrogenics , Fuelcell Energy, Doosan Fuel Cell, ClearEdge Power, Ballard Power and AFC Energy PLC.
Types Covered:
• Solid oxide fuel cells
• Polymer exchange membrane fuel cells
• Direct methanol fuel cells
• Other types
Products covered:
• Water cooled type
• Air-cooled type
Applications covered:
• Transportation
• Stationary
• Portable
Regions covered:
• North America
o United States
o Canada
o Mexico
• Europe
o Germany
o United Kingdom
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia-Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East and Africa
o Saudi Arabia
o WATER
oQatar
o South Africa
o Rest of the Middle East and Africa
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– Market share assessments for regional and country segments
– Strategic recommendations for new entrants
– Market forecasts for a minimum of 9 years of all mentioned segments, sub-segments and regional markets
– Market trends (drivers, restraints, opportunities, threats, challenges, investment opportunities and recommendations)
– Strategic analysis: drivers and constraints, product/technology analysis, analysis of Porter’s five forces, SWOT analysis, etc.
– Strategic recommendations in key business segments based on market estimations
– Competitive landscaping mapping major common trends
– Company profiling with detailed strategies, financials and recent developments
– Supply chain trends mapping the latest technological advancements
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