Global fuel cells
demand was worth USD 355.3 million in 2011 and is estimated to reach
USD 910.3 million in 2018, growing at a CAGR of 15.0% from 2013 to
2018. Asia-Pacific and North America dominate the global market in
terms of demand, and Europe is estimated to be the most promising
market in the near future.
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report at
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The fuel cells
market by product type is majorly covered by PEMFC (Proton Exchange
Membrane Fuel Cell) in terms of revenue followed by MCFC (Molten
Carbonate Fuel Cell). PEMFC and MCFC are expected to grow at a CAGR
of 11.5% and 17.8% respectively from 2013 to 2018. In terms of power
(MW), PEMFC and MCFC again dominated the market, accounting for 46.3%
and 39.2% of total demand in 2011 respectively. However, by 2018,
MCFC is likely to overtake PEMFC market owing to the increasing
market of stationary fuel cell systems. PEMFC is used in a wide
variety of applications including forklifts, automobiles,
telecommunications, data centers, primary and backup power systems
owing to its relatively low operating temperature and high power
density. MCFC fuel cells are mainly used for stationary power
generation and CHP applications, and are available as commercial
products.
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Fuel cells are
currently more dominant in the North America due to regulatory
support and technological innovation push in recent times. U.S. is
expected to emerge as one of the biggest markets for fuel cell
vehicles by 2018. Asia-Pacific is the other major region where the
fuel cells market is very strong with demand expected to grow at a
CAGR of about 12% from 2013 to 2018. In Asia-Pacific, Japan and South
Korea dominate the market revenue for fuel cells. Europe is expected
to grow at the highest rate among these three major regions, driven
primarily by regulatory policies pushing for sustainability and is
expected to cover a substantial part of the market by 2018. With
regional coverage, the study also provides comprehensive market data
on key countries such as U.S., Canada, Japan, South Korea, Germany,
UK, Norway, Sweden and Denmark.
Key participants in
the fuel cells market include Fuel Cell Energy, Ballard, Clearedge,
Toshiba, Panasonic, Plug Power Inc. and Hydrogenics Corporation.
This research
analyzes and estimates the performance and demand of fuel cells in
the global scenario. The research provides detailed trend analysis of
the fuel cells market, demand by geography and detailed analysis of
companies that are dealing in fuel cells. The report covers all the
major segment types of the fuel cells market and provides
statistically refined forecast and historical data for the segments
covered. The report presents a comprehensive assessment of the
strategies followed by different stakeholders by segmenting the fuel
cells market as below:
Global Fuel Cells
market, by fuel
Hydrogen
Natural Gas
Methanol
Global Fuel Cells
market, by product
Proton Exchange
Membrane Fuel Cell (PEMFC)
Direct Methanol Fuel
Cell (DMFC)
Phosphoric Acid Fuel
Cell (PAFC)
Solid Oxide Fuel
Cell (SOFC)
Molten Carbonate
Fuel Cell (MCFC)
Alkaline Fuel Cell
(AFC)
Global Fuel Cells
market, by application
Stationary
Transportation
Portable
Global Fuel Cells
market, by geography
North America
U.S.
Canada
Europe
Germany
U.K.
Denmark
Norway
Sweden
Asia-Pacific
Japan
South Korea
Rest of the World
(RoW)
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