Loading, Please Wait...

CST: 13/11/2019 16:59:45   

Fuel Cells Market to attain a revenue of US$ 27.25 billion by 2024 - TMR

202 Days ago

Fuel Cells Market: Stationary Applications of Fuel Cells Majorly Fuels its Market

ALBANY, NY, April 25, 2019 (GLOBE NEWSWIRE) -- The global fuel cells market is likely to witness high growth in the coming years, observes Transparency Market Research (TMR). The players in market are focusing on using different combinations of organic and inorganic business development strategies. They are concentrating on building strategic alliance with smaller companies operating in the same or associated area. This will expand the geographical presence of the players and help them acquiring higher share in the global market. Moreover, one can also see a rise in private-public partnerships, which will further fuel growth in the global fuel cells market.

In the TMR report, analysts considered some of the prominent players including Doosan Fuel Cell America, Inc., Ballard Power Systems Inc., Toshiba Corporation, Nedstack Fuel Cell Technology B.V., Hydrogenics Corporation, and FuelCell Energy, Inc. Additionally, players producing solid oxide fuel cells (SOFC) are receiving additional financial support that will enhance their capacity. Venture capitalists and over-the-counter investments have further increased the funds received by companies. 

Request A Sample of Global Fuel Cells Market -  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=372

According to TMR statistics, the global fuel cells market is projected to rise at staggering CAGR of 24.58% over the forecast period between 2016 and 2024. During this period, the market is likely to reach US$27.25 bn by 2024. In 2015, the market earned US$3.59 bn. A significant rise in green energy technologies will be accelerating growth in the global fuel cells market and reach this revenue figure.

Moreover, the demand for proton exchange membrane fuel cells (PEMFC) is high as compared to other types of fuel cells. Increasing application of PEMFC in the transportation industry to enhance cars and buses and technological advancements has led the growth in this segment. Additionally, this technology is largely preferred by several small-scale residential. With respect to geography, developing regions in Asia Pacific are expected to lead the global fuel cells market. Growing emphasis to reduce reliance of fossil fuel and high electricity needs has boosted growth of fuel cells in this region. North America is also expected to hold substantial share in the global fuel cells market during the projected period.

Request For Multiple Chapters -  https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=372

Supportive Government Policies to Bolster Market Performance

The major factor driving growth in the global fuel cells market involves increasing efforts to reduce dependency on diesel, oil, and other non-conventional energy sources. People are now favoring use of environment friendly fuel cells that will reduce the burden on conventional petroleum products. Adding further to growth drivers, various government supportive policies to reduce carbon emissions have boosted demand for fuel cells cars, buses, and trucks.

Globalization is also playing a crucial role in expanding growth in the global fuel cells market, as there is high demand for fuel cells in schools, buildings, and recreational malls. Growing demand for portable devices like tablets, laptops, smartphones, and others require power backup batteries are also estimated to drive demand in the global fuel cells market. Use of these devices boosts demand for electricity, which also acting as a driving factor in this market.

Request For Discount On This Report -  https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=372

High Cost of Fuel Cells Might Deterring Growth in Fuel Cells Market

Despite the high demand for fuel cells, few restraining factors might obstruct growth in the global market. High cost of fuel cells is one of the major impediments that might restrict growth of fuel cells. Moreover, high prices of catalyst that increases the costs of fuel cells and limited infrastructure of fuel cells are also projected to deter demand in this market.

However, several players are using innovative technologies that will reduce the cost of fuel cell in the forthcoming years. Growing application of fuel cells in the medical, energy, and military sectors for storage is also expected to fuel growth in the global fuel cells market.

Browse Press Release -  https://www.transparencymarketresearch.com/pressrelease/fuel-cell-market.htm

The study presented here is based on a report by Transparency Market Research (TMR) titled “Fuel Cells Market (Type - Proton Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Solid Oxide Fuel Cells (SOFC); Application - Stationary, Portable, Transport) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024”.

The global fuel cells market is segmented based on:

Type

  • Proton Exchange Membrane Fuel Cells (PEMFC)
  • Direct Methanol Fuel Cells (DMFC)
  • Solid Oxide Fuel Cells (SOFC)
  • Others

Application

  • Stationary
  • Portable
  • Transport

 Regional

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

Browse Energy & Natural Resources Market Research Reports

Popular Research Reports by TMR:

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

Is your business listed correctly on America’s largest city directory network of 1,000 portals?