NEW YORK, Sept. 15, 2022 /PRNewswire/ -- The "Residential Fuel Cell Market by Product and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the residential fuel cell market between 2021 and 2026 is 620.35 MW. The market is expected to observe a YOY growth of 19.46% in 2022 and the growth momentum is anticipated to accelerate at a CAGR of 20.22% during the forecast period. The report considers various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download PDF Sample Report
- Market Driver
- Market Challenges
The growing demand for efficient and cleaner technologies is one of the key growth drivers in the market. The rise in population and urbanization have increased the demand for power globally. Currently, most of the global power demand is met by fossil fuels, which is the major contributor of global warming. These factors have encouraged the adoption of greener and cleaner alternative ways of generating power. Fuel cells are considered an extremely reliable and efficient technology. They produce energy through an electrochemical reaction and do not involve any combustion for the conversion of fuel. Thus, with the increasing demand for efficient and cleaner technologies, the demand for residential fuel cells is expected to increase during the forecast period.
However, the competition from alternative technologies will challenge market growth. Many regional and international players offering fuel cells are facing stiff competition from alternative technologies such as microturbines, backup generators, energy storage systems providers, and renewable energy system providers. These technologies are already popular among end-users in the market. This is hindering the wider acceptance of fuel cells in the market.
Learn about additional key drivers, trends, and challenges impacting the market growth by purchasing our full report. Read Sample Report Before Purchasing
The residential fuel cell market report is segmented by product (PEMFC and SOFC) and geography (North America, APAC, Europe, South America, and MEA).
By product, the market will observe significant growth in the PEMFC segment during the forecast period. The segment is driven by benefits offered by PEMFCs such as fast start-up time, low operating temperature, compactness, sustainable operations in high energy density, and low emissions.
APAC will be the leading region, occupying 42% of the market share over the forecast period. The growth of the regional market can be attributed to the growing need to reduce energy consumption as well as the dependence on fossil fuels in the region.
The global residential fuel cell market is concentrated with few vendors occupying the competitive landscape. Vendors are focusing on new product launches and M&A activities to remain competitive. The following are identified as dominant players in the global residential fuel cell market.
- Adaptive Energy LLC
- Aisin Corp.
- Bloom Energy Corp.
- Freudenberg SE
- HORIBA Ltd.
- Loop Energy Inc.
- Nedstack Fuel Cell Technology BV
- Panasonic Corp.
- SolidPower Spa
- Viessmann Family Holding
- Fuel Cell Market for Prime Power by Product and Geography - Forecast and Analysis 2022-2026
- Stationary Fuel Cell Market by Application and Geography - Forecast and Analysis 2022-2026
Residential Fuel Cell Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 20.22% |
Market growth 2022-2026 | 620.35 MW |
Market structure | Concentrated |
YoY growth (%) | 19.46 |
Regional analysis | North America, APAC, Europe, South America, and MEA |
Performing market contribution | APAC at 42% |
Key consumer countries | US, Japan, South Korea (Republic of Korea), Germany, and China |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Adaptive Energy LLC, Aisin Corp., Bloom Energy Corp., Freudenberg SE, HORIBA Ltd., Loop Energy Inc., Nedstack Fuel Cell Technology BV, Panasonic Corp., SolidPower Spa, and Viessmann Family Holding |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 1
Exhibit 03: Key Finding 2
Exhibit 04: Key Finding 3
Exhibit 05: Key Finding 4
Exhibit 06: Key Finding 5
Exhibit 07: Key Finding 5
2. Market Landscape
2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market characteristics
2.2 Value chain analysis
Exhibit 10: Value chain analysis
2.2.1 Inputs
2.2.2 Operations
2.2.3 Distribution and logistics
2.2.4 Marketing and sales
2.2.5 Aftermarket and service
2.2.6 Industry innovations
3. Market Sizing
3.1 Market segment analysis
Exhibit 11: Market segments
3.2 Market size 2021
3.3 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.4 Market outlook: Forecast for 2021 - 2026
Exhibit 13: Global - Market size and forecast 2021 - 2026 (MW)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 16: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 17: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 18: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 19: Threat of new entrants
4.5 Threat of substitutes
Exhibit 20: Threat of substitutes
4.6 Threat of rivalry
Exhibit 21: Threat of rivalry
4.7 Market condition
Exhibit 22: Market condition - Five forces 2021
5 Market Segmentation by Product
5.1 Market segments
Exhibit 22: Product - Market share 2021-2026 (%)
5.2 Comparison by Product
Exhibit 23: Comparison by Product
5.3 PEMFC - Market size and forecast 2021-2026
Exhibit 24: PEMFC - Market size and forecast 2021-2026 (MW)
Exhibit 25: PEMFC - Year-over-year growth 2021-2026 (%)
5.4 SOFC - Market size and forecast 2021-2026
Exhibit 26: SOFC - Market size and forecast 2021-2026 (MW)
Exhibit 27: SOFC - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Product
Exhibit 28: Market opportunity by Product
6. Customer landscape
6.1 Overview
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 29: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 30: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 31: Geographic comparison
7.3 North America - Market size and forecast 2021-2026
Exhibit 32: North America - Market size and forecast 2021-2026 (MW)
Exhibit 33: North America - Year-over-year growth 2021-2026 (%)
7.4 APAC - Market size and forecast 2021-2026
Exhibit 34: APAC - Market size and forecast 2021-2026 (MW)
Exhibit 35: APAC - Year-over-year growth 2021-2026 (%)
7.5 Europe - Market size and forecast 2021-2026
Exhibit 36: Europe - Market size and forecast 2021-2026 (MW)
Exhibit 37: Europe - Year-over-year growth 2021-2026 (%)
7.6 South America - Market size and forecast 2021-2026
Exhibit 38: South America - Market size and forecast 2021-2026 (MW)
Exhibit 39: South America - Year-over-year growth 2021-2026 (%)
7.7 MEA - Market size and forecast 2021-2026
Exhibit 40: MEA - Market size and forecast 2021-2026 (MW)
Exhibit 41: MEA - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 42: Key leading countries
7.9 Market opportunity by geography
Exhibit 43: Market opportunity by geography ($ billion)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Growing demand for efficient and cleaner technologies
8.1.2 Adoption of fuel cells for CHP
8.1.3 Favorable government policies
8.2 Market challenges
8.2.1 Competition from alternative technologies
8.2.2 Functional issues associated with SOFC
8.2.3 High cost of fuel cells
Exhibit 44: Impact of drivers and challenges
8.3 Market trends
8.3.1 Growing affinity for self-generation
8.3.2 Development of zero-energy buildings
8.3.3 Increase in R&D activities
9. Vendor Landscape
9.1 Overview
Exhibit 45: Vendor landscape
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
9.2 Landscape disruption
Exhibit 46: Landscape disruption
Exhibit 47: Industry risks
9.3 Competitive scenario
10. Vendor Analysis
10.1 Vendors covered
Exhibit 48: Vendors covered
10.2 Market positioning of vendors
Exhibit 49: Market positioning of vendors
10.3 Adaptive Energy LLC
Exhibit 50: Adaptive Energy LLC - Overview
Exhibit 51: Adaptive Energy LLC - Product and service
Exhibit 52: Adaptive Energy LLC - Key offerings
10.4 Aisin Corp.
Exhibit 53: Aisin Corp. - Overview
Exhibit 54: Aisin Corp. - Business segments
Exhibit 55: Aisin Corp.- Key news
Exhibit 56: Aisin Corp. - Key offerings
Exhibit 57: Aisin Corp. - Segment focus
10.5 Bloom Energy Corp.
Exhibit 58: Bloom Energy Corp. - Overview
Exhibit 59: Bloom Energy Corp. - Product and service
Exhibit 60: Bloom Energy Corp. - Key offerings
10.6 Freudenberg SE
Exhibit 61: Freudenberg SE - Overview
Exhibit 62: Freudenberg SE - Business segments
Exhibit 63: Freudenberg SE - Key offerings
Exhibit 64: Freudenberg SE - Segment focus
10.7 HORIBA Ltd.
Exhibit 65: HORIBA Ltd. - Overview
Exhibit 66: HORIBA Ltd. - Business segments
Exhibit 67: HORIBA Ltd. - Key offerings
Exhibit 68: HORIBA Ltd. - Segment focus
10.8 Loop Energy Inc.
Exhibit 69: Loop Energy Inc. - Overview
Exhibit 70: Loop Energy Inc. - Product and service
Exhibit 71: Loop Energy Inc. - Key offerings
10.9 Nedstack Fuel Cell Technology BV
Exhibit 72: Nedstack Fuel Cell Technology BV - Overview
Exhibit 73: Nedstack Fuel Cell Technology BV - Product and service
Exhibit 74: Nedstack Fuel Cell Technology BV - Key offerings
10.10 Panasonic Corp.
Exhibit 75: Panasonic Corp. - Overview
Exhibit 76: Panasonic Corp. - Business segments
Exhibit 77: Panasonic Corp. - Key news
Exhibit 78: Panasonic Corp. - Key offerings
Exhibit 79: Panasonic Corp. - Segment focus
10.11 SolidPower Spa
Exhibit 80: SolidPower Spa - Overview
Exhibit 81: SolidPower Spa - Product and service
Exhibit 82: SolidPower Spa - Key offerings
10.12 Viessmann Family Holding
Exhibit 83: Viessmann Family Holding - Overview
Exhibit 84: Viessmann Family Holding - Product and service
Exhibit 85: Viessmann Family Holding - Key offerings
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and Caveats
11.2 Currency conversion rates for US$
Exhibit 86: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 87: Research Methodology
Exhibit 88: Validation techniques employed for market sizing
Exhibit 89: Information sources
11.4 List of abbreviations
Exhibit 90: List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/
SOURCE Technavio
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
