Fuel Cell Market-Asia Pacific Anticipated to Witness fastest CAGR till 2024
Globally the increasing adoption of fuel cell vehicles and increasing government incentives to raise the penetration of fuel cells owing to environmental concerns tends to drive the growth of global fuel cell market. According to Goldstein Research, global fuel cell market is expected to reach USD 9.4 billion by 2024 from an estimated market size of USD 2.5 billion in 2015, growing at a CAGR of 18.0% during the forecast period (2016-2024). Major market player are growing their business systems through mergers and acquisitions which is another growth aspect of the market.
Further, Global fuel cell market segmentation has been done on the basis of type, application and geography. Geographically, global fuel cell industry is dominated by North America region, with 50.0% market share in 2016. North America is estimated to have shipped + 150 MW fuel cells across the world. North America is followed by Asia Pacific fuel cell market share of 35.0% in 2016. APAC fuel cell shipment is estimated at + 100 MW in 2015, and over the forecast period this tends to grow at fastest CAGR across the globe.
Global Fuel Cell Market can be segmented as follows:
By Fuel Cell Type
- Alkaline Fuel Cell
- Phosphoric Acid Fuel Cell
- Molten Carbonate Fuel Cell
- Solid Oxide Fuel Cell
- Proton Exchange Membrane Fuel Cell
- Direct Methanol Fuel Cell
By Fuel Cell Application
- Stationary Power Generation
- Portable Power Generation
- Power Generation for Transportation
- North America Fuel Cell Market Analysis, 2016-2024
- Europe Fuel Cell Market Analysis, 2016-2024
- Middle East and Africa Fuel Cell Market Analysis, 2016-2024
- Latin America Fuel Cell Market Analysis, 2016-2024
- Asia Pacific Fuel Cell Market Analysis, 2016-2024
- Rest of the World Fuel Cell Market Analysis, 2016-2024
Global Fuel Cell Market report by Goldstein research contains detailed overview of the global fuel cell market. The report includes following major players are Toshiba, SFC Energy, SolidPower GmbH, Hydrogenic Corporation, Nuvera Fuel Cells, United Technologies, AFC Energy PlC, Fuel Cell Energy, Ballard Power Systems, Bloom Energy
Further, Global Fuel Cell Market Report encompasses the present and future market trends to help the clients in assessing the investment opportunities and growth prospects in established and emerging markets. The reports includes market dynamics including market trends, opportunities, growth drivers, risk analysis, market challenges, BPS (Base Point Scale) analysis, market attractiveness, Porter’s five force model and SWOT analysis. Also the estimated market size and market share along with forecast market size and market share data for the period 2016-2024 is discussed in the report. This market report also highlights competitive outlook of major players including their company profiling, business strategy, revenue distribution, financial analysis of the company, products, services and industries catered, and recent developments.
For more reports related to Energy & Resources industry, visit: https://www.goldsteinresearch.com/industries/energy-resources
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