Nov 15, 2018   SOURCE: PR NewsWire

Fuel Cells: Worldwide Market Outlook to 2025 - Solid Oxide Fuel Cell (SOFC) is Likely to Emerge as the Fastest Growing Segment

DUBLIN, Nov. 15, 2018 /PRNewswire/ --

The "Fuel Cell Market Size, Share & Trends Analysis Report By Product (PEMFC, PAFC, SOFC, MCFC), By Application (Stationary, Transportation, Portable), By Region, And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.

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The global fuel cell market size is projected to reach USD 24.81 billion by 2025. It is expected to expand at a CAGR of 20.9% over the forecast period. International pressure on energy diversification is advocating positive investment environment for alternative energy.

Fuel cell is closing in to be the most efficient form of alternative energy generation. Fuel cell shipments have witnessed rise over the past three years, compelling manufacturers to increase operations. Fuel cell systems cost has also seen a decline owing to significant innovations in terms of efficiency and working cost.

Low gas prices will remain a specific concern for this market as natural gas based power generation is showing a radical decrease in operating cost and significant increase in output. Rapid rise in efforts to capitalize on the potential of fuel cells will drive this market at an estimated 20.9% CAGR over the forecast period.

The fuel cell market is likely to witness aggressive strategic alliances with market players looking to expand their end-user segments in emerging markets. Progressive private-public partnerships are predicted to be essential for attaining an economically viable technological shift. Japan's vision of Hydrogen Society is anticipated to bode well for market growth by 2020

Stationary hydrogen power plants is expected to emerge as the largest application segment and account for over 70% of market in terms of shipped units. Factors such as high efficiency, flexibility to use different fuels, and utilization of direct current are the key demand drivers.

Key Findings

    --  Fuel cell units shipped at a global level in 2016 were estimated to be
        78,000 and the U.S. market size was estimated to be 8,205 units.
    --  Proton exchange membrane fuel cell (PEMFC) dominated the fuel cell
        market and accounted for over 76% of U.S. units shipped in 2016.
    --  Solid oxide fuel cell (SOFC) is likely to emerge as the fastest growing
        segment and is expected to register an estimated CAGR of 39.3% during
        the forecast period in U.S. alone.
    --  North America is witnessing several strategic partnerships with
        companies such as Coca-Cola, Walmart, and other prominent players
        partnering up with manufacturers to use fuel cells for internal energy
        consumption.
    --  Hyundai is powering its test cars with fuel cells to deliver better
        efficiency in Japan and Latin America. These cars are likely to earn
        commercial status by the end of the forecast period.

Topics Covered

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources

Chapter 2. Executive Summary
2.1. Market Snapshot

Chapter 3. Fuel Cell Industry Outlook
3.1. Fuel Cell market segmentation
3.2. Market size and growth prospects, 2014 - 2025
3.3. Fuel Cell market - Value chain analysis
3.4. Fuel Cell market dynamics
3.4.1. Market driver analysis
3.4.2. Market restraint analysis
3.5. Key opportunities prioritized
3.6. Industry analysis - Porter's
3.7. Fuel Cell market PESTEL analysis, 2015

Chapter 4. Fuel Cell Product Outlook
4.1. Global fuel cell market share by product, 2015 & 2025
4.2. PEMFC
4.3. PAFC
4.4. SOFC
4.5. MCFC
4.6. Others

Chapter 5. Fuel Cell Application Outlook
5.1. Global fuel cell market share by application, 2015 & 2025
5.2. Stationary
5.3. Transportation
5.4. Portable

Chapter 6. Fuel Cell Regional Outlook
6.1. Global fuel cell market share by region, 2015 & 2025
6.2. North America
6.3. Europe
6.4. Asia Pacific
6.5. Middle East & Africa
6.6. Central & South America

Chapter 7. Competitive Landscape
7.1. Competitive heat map analysis
7.2. Vendor landscape
7.3. Competitive environment

Chapter 8. Competitive Landscape
8.1. FuelCell Energy Inc.
8.2. Ballard Power Systems
8.3. Hydrogenics Corporation
8.4. SFC Group
8.5. Plug Power
8.6. Ceramic Fuel Cells Ltd.
8.7. Ceres Power
8.8. UTC Power Corporation
8.9. Bloom Energy
8.10. Nedstack Fuel Cell Technology BV

For more information about this report visit https://www.researchandmarkets.com/research/5h79k9/fuel_cells?w=5

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