Rising integration of fuel cell technology in automobiles, telecom towers and material handling equipment is creating significant growth prospects for fuel cell market globally. Asia-Pacific is emerging as one of the leading markets for fuel cells due to their growing adoption in countries like Japan and South Korea. Although the market penetration is currently very low in various major developing economies such as China, India and Indonesia, these countries offer huge growth potential in the long run. As far as developed economies are concerned, fuel cells are yet to witness market maturation in markets like Europe and the US due to their continuous demand across diverse end-use industries. Fuel cells also have an edge over other power generating sources as these uses hydrogen or natural gas in the form of fuel and are free from carbon emissions. Considering the environment related benefits, government agencies are also encouraging the adoption of fuel cells in industries through various incentives and subsidies.
According to “Global Fuel Cell Market Forecast & Opportunities, 2020”, global market for fuel cells is forecast to peg over USD3 billion through 2020. Majority adoption of fuel cell technology is taking place in stationary and transport applications. Being a clean energy source, the adoption of fuel cell technology has been growing at a tremendous pace in both developed as well as developing economies. Major brands like Apple, AT&T, Walmart, eBay, Coca-Cola, and Adobe are already using fuel cell technology in their in-house power generation facility. South Korea, in particular, has emerged as a major development center for fuel cell technology. Power-backup, combined heat and power units and automobiles are the key application areas where fuel cells are currently being used. “Global Fuel Cell Market Forecast & Opportunities, 2020” discusses the following aspects of the fuel cell market worldwide:
• Global Fuel Cell Market Size, Share & Forecast
• Regional Analysis (North America, Europe, APAC, etc)
• Segmental Analysis By Fuel Type & Applications
• Changing Market Trends & Emerging Opportunities
• Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
• To gain an in-depth understanding of Global Fuel Cell market
• To identify the on-going trends, and anticipated growth over the next five years
• To help industry consultants, fuel cell manufacturers and distributors align their market-centric strategies
• To obtain research-based business decisions and add weight to presentations and marketing material
• To gain competitive knowledge of leading market players
• To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with fuel cell manufacturers, end users and industry experts from different countries. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and other proprietary databases.