Transparency Market Research Fuel Cells Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024 Published Date 21-june-2016 91 Page Report Buy Now Request Sample Press Release Fuel Cells Market Volume and Revenue Anticipated to Reach 1504,005 Units and US$ 27.25 Bn, by 2024 :TMR Transparency Market Research State Tower, 90, State Street, Suite 700. Albany, NY 12207 United States www.transparencymarketresearch.com [email protected] Fuel Cells Market REPORT DESCRIPTION Fuel Cells Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 2024 Transparency Market Research has released a new market report titled “Fuel Cells Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024”. According to this report, the global fuel cells market volume stood at 186,210 units and is expected to reach 1504,005 units by 2024 at a CAGR of 24.58% from 2016 to 2024. The global market for fuel cells, by revenue stood at US$ 3.59 Bn in 2015 and is expected to reach US$ 27.25 Bn by 2024 at a CAGR 23.64% from 2016 to 2024. Complete Report with TOC : http://www.transparencymarketresearch.com/fuel-cell-market.html Fuel cells are electro-chemical devices that transform the chemical energy into heat and electricity by the oxidation of fuel (hydrogen, natural gas and methanol) contained in the fuel cell. The fuel cells usually comprises electrodes and electrolytes between which the oxidation reaction takes place. Electrolytes used in fuel cells are materials that contain many ions (atoms or molecules that have a net electrical charge), making it easy for an electric current to flow through them. Basic fuel cell components include electrodes, membranes, catalysts, polymers, and ceramics. These components are procured from the suppliers along with the components such as valves subsystem, membrane electrode assembly (MEA), which are then forwarded to the system integrators. Catalysts (platinum, nickel, and conductive ceramics) are used to speed up the reaction at the electrodes The only byproducts are water and a small amount of nitrous oxide due to which fuel cells are eco-friendly, safe, and secure to use. Fuel cells are not thermal energy based, they generate power using hydrogen as a basic ingredient. The heat and electricity generated from fuel cells is utilized in various industries for different applications such as stationary, transportation, and portable. Fuel cells involve hydrogen and other gases as one of the basic components for generating power. Hydrocarbon fuels such as methanol, ethanol are also used in extracting hydrogen during reformation procedure. This procedure leads to carbon dioxide emissions up to a certain extent, however, highly efficient plants release negligible amounts of carbon dioxide. Research and development activities in demonstration and adoption of improved and efficient fuel cell technology would reduce carbon dioxide emissions and enhance the efficiency of power delivered. Rapid population growth, high dependency on fossil fuels, increasing electricity demand, strict government regulations to minimize carbon emissions, and high awareness in different countries about clean energy usage are the main drivers for the fuel cells market Fuel cells are emerging technologies, which are currently utilized as a source of heat and electricity in buildings and the commercial sector. The use of fuel cells in applications such as stationary, portable, and transport is expected to increase significantly throughout the forecast period as even more stringent environmental legislation are enforced. Currently, stationary applications of fuel cells, such as in CHP and backup power systems, dominates the market for fuel cells. Portable applications mainly include consumer Transparency Market Research 2 Fuel Cells Market electronics such as laptops, tablets, mobiles, and cameras. The use of fuel cells in the transportation sector is moderate. However, constant research and development activities going on by different governments and companies to integrate efficient fuel cell system in vehicles such as buses, trucks, cars etc. would boost the demand for fuel cells in transportation sector in the next few years. The fuel cells market has been segmented in terms of type, application and geography. By type, the fuel cell market has been segmented into proton exchange membrane fuel cells (PEMFC), direct methanol fuel cells (DMFC), solid oxide fuel cells (SOFC), and others. By Application, the market has been segmented into stationary, portable, and transport. By type, proton exchange membrane fuel cells (PEMFC) held the largest share (62.42%) of the market in 2015. By application, stationary held the largest share (64.82%) for the market in 2015. Growth in the fuel cells market is driven by the need for adoption of cleaner fuel sources, high electricity demand, excess depletion of fossil fuels and stringent regulatory norms to minimize carbon emissions. Rapid population growth followed by high electricity demand has resulted in a paradigm shift towards alternate sources of electricity generation such as fuel cells. Rapid rise in the industrial application of hydrogen gas is expected to boost the demand for fuel cells globally. However, distribution and transportation challenges associated with hydrogen coupled with the high cost of fuel used in fuel cells such as hydrogen or other gas as against fossil fuels may restrain growth of the fuel cells market. Key players in the fuel cells market include AFC Energy PLC, Ballard Power Systems Inc., Doosan Fuel Cell America, Inc., FuelCell Energy, Inc., Hydrogenics Corporation, Nedstack Fuel Cell Technology B.V., Plug Power, Inc., Panasonic Corporation, SFC Energy AG, and Toshiba Corporation. The fuel cells market has been segmented as follows: Fuel Cells Market: By Type • Proton Exchange Membrane Fuel Cells (PEMFC) • Direct Methanol Fuel Cells (DMFC) • Solid Oxide Fuel Cells (SOFC) • Others Fuel Cells Market: By Application • Stationary • Portable Transparency Market Research 3 Fuel Cells Market • Transport Get free research PDF for more Professional and Technical insights : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=372 TABLE OF CONTENT Table of Contents Section 01 Preface Preface Market Segmentation Section 02 Executive Summary Executive Summary – Fuel Cells Market Section 03 Industry Analysis Value Chain Analysis Value Chain Analysis Transparency Market Research 4 Fuel Cells Market Market Dynamics Driver 1 – Fuel cells to play a vital role in back-up power options Driver 2 – Eco-friendly and silent characteristics Driver 3 – High energy density than batteries Restraint 1– High switching cost and lack of infrastructure hindering growth of fuel cell market Opportunity 1 – Strict government regulations to minimize carbon emissions has resulted in a paradigm shift toward green energy Porter’s Five Forces Analysis Bargaining Power of Suppliers Bargaining Power Of Buyers Threat of Substitutes Threat of New Entrants Degree of Competition Market Attractiveness – Fuel Cells Market Company Market Share Analysis – Fuel Cells Market Section 04 Type Segment Analysis Introduction – Fuel Cells Market, Type Segment Fuel Cells Market, Type Segment Fuel Cells Market– PEMFC Fuel Cells Market– DMFC Transparency Market Research 5 Fuel Cells Market Fuel Cells Market– SOFC Fuel Cells Market– Others Section 05 Application Analysis Introduction – Fuel Cells Market, Application Segment Fuel Cells Market, Application Segment Fuel Cells Market– Stationary Fuel Cells Market– Portable Fuel Cells Market– Transport Section 06 Geographical Analysis Fuel Cells Market – Regional Overview Fuel Cells Market – North America North America Fuel Cells Market S. Fuel Cells Market S. Fuel Cells Market by Application S. Fuel Cells Market by Type Canada Fuel Cells Market Canada Fuel Cells Market by Application Canada Fuel Cells Market by Type Transparency Market Research 6 Fuel Cells Market Fuel Cells Market – Europe Europe Fuel Cells Market Germany Fuel Cells Market Germany Fuel Cells Market by Application Germany Fuel Cells Market by Type K. Fuel Cells Market K. Fuel Cells Market by Application K. Fuel Cells Market by Type Rest of Europe Fuel Cells Market Fuel Cells Market – Asia Pacific Asia Pacific Fuel Cells Market Japan Fuel Cells Market Japan Fuel Cells Market by Application Japan Fuel Cells Market by Type South Korea Fuel Cells Market South Korea Fuel Cells Market by Application South Korea Fuel Cells Market by Type China Fuel Cells Market China Fuel Cells Market by Application China Fuel Cells Market by Type Rest of Asia Pacific Fuel Cells Market Rest of Asia Pacific Fuel Cells Market by Application Transparency Market Research 7 Fuel Cells Market Rest of Asia Pacific Fuel Cells Market by Type Fuel Cells Market – Rest of the World Rest of the World Fuel Cells Market by Application Rest of the World Fuel Cells Market by Type Section 07 Company Profiles AFC Energy PLC Ballard Power Systems Inc. Doosan Fuel Cell America, Inc. FuelCell Energy, Inc. Hydrogenics Corporation Nedstack Fuel Cell Technology B.V. Plug Power, Inc. Panasonic Corporation SFC Energy AG Toshiba Corporation Complete Report with TOC : http://www.transparencymarketresearch.com/fuel-cell-market.html About Us Transparency Market Research 8 Fuel Cells Market Transparency Market Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forwardlooking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Contact Transparency Market Research 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-552-3453 Email: [email protected] Website: http://www.transparencymarketresearch.com/ Transparency Market Research 9
Global fuel cells market comprises only five manufacturers who hold 99.5% of the revenue share, finds Transparency Market Research (TMR) in a new study. The industry is dominated by FuelCell Energy, Inc. and Plug Power, Inc. who collectively hold 51.9% of the revenue share while Ballard Power Systems Inc., SFC Energy AG, and Hydrogenics Corporation are the other leading manufacturers. With wide distribution networks, manufacturers are leveraging their brand name and focusing mergers and acquisitions to gain additional market share. A case in point would be FuelCell Energy, Inc. The company recently announced its 20-year long-term contract with Pfizer Inc., one of the world’s largest biopharmaceutical companies, for the development of 5.6 mega-watt fuel cell project in Connecticut, U.S. The revenue of the global fuel cells market stood at US$3.59 bn in 2015 and is expected to reach US$27.25 bn by 2024 at a CAGR of 23.64%. View exclusive Global strategic Business report : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=372
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