Market Overview

$8.4 Bn Fuel Cell Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023 -


The "Fuel
Cell Market: Global Industry Trends, Share, Size, Growth, Opportunity
and Forecast 2018-2023"
report has been added to's

The global fuel cell market reached a value of more than US$ 4.0 Billion
in 2017

A fuel cell refers to an electrochemical cell which converts the
chemical energy from a fuel to electricity. The major components of a
fuel cell include anode, cathode and electrolyte. Some of the advantages
offered by fuel cells are energy-efficiency, high operating time, ease
of maintenance, etc. Apart from this, they are environment-friendly in
nature as they prevent production of air pollutants or greenhouse gases.
Owing to this, they are used to provide power to vehicles like
forklifts, automobiles, buses, boats, motorcycles, etc.

Various initiatives and favourable policies by governments supporting
the use of sustainable energy substitutes represents one of the major
factors catalysing the growth of the global fuel cell market. Moreover,
as fuel cells do not require conventional fuels such as oil or gas, it
reduces economic dependence on oil producing countries, thereby
broadening the growth prospects of the market.

Other growth inducing factors include technological advancements,
constant depletion of fossil fuels and rising awareness about the
benefits of fuel cells.

Looking forward, the market value is projected to exceed US$ 8.4 Billion
by 2023, registering a CAGR of 13.4% during 2018-2023.

Market Summary:

  • Based on the type, the market has been segmented as proton exchange
    membrane fuel cells, solid oxide fuel cells, molten carbonate fuel
    cells, direct methanol fuel cells, phosphoric acid fuel cells and
    others. Proton exchange membrane fuel cells currently account for the
    highest market share.
  • On the basis of application, stationery represents the largest
    segment, followed by transportation, portable and others.

The competitive landscape of the market has also been examined
with some of the key players being

  • Ballard Power Systems Inc.
  • Bloom Energy Corporation
  • Toshiba Fuel Cell Power Systems Corporation
  • FuelCell Energy Inc
  • Plug Power Inc
  • Nuvera Fuel Cells Inc
  • AFC Energy plc
  • SFC Energy AG
  • Mitsubishi Hitachi Power Systems
  • Ltd.
  • Panasonic Corporation
  • Intelligent Energy Limited
  • Doosan Fuel Cell America Inc.

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Fuel Cell Market

6 Market Breakup by Type

7 Market Breakup by Application

8 Market Breakup by Region

9 Fuel Cell Manufacturing Process

10 Competitive Landscape

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