Hydrogen Fuel Cell Stacks Market Scope
A hydrogen fuel cell is a device that converts fuel (hydrogen) into electricity through a chemical reaction to provide electrical power. Although they share a similar structure and are both regarded as electrochemical cells, fuel cells require a constant supply of oxygen and fuel to operate, much like an internal combustion engine does. Batteries, on the other hand, just require a one-time supply of electricity.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Doosan Fuel Cell (United States), Hyundai Fuel Cell (United States), Yangzhou Xinyuan Electric Co., Ltd. (PowerhV-Xinyuan) (China), PowerCell Sweden (Sweden), Ceres Power (United Kingdom), Horizon Fuel Cell Technologies (Singapore), Ballard Power Systems (Canada), Advent Technologies Hldgs (United States) and Intelligent Energy (United Kingdom) |
CAGR | % |
To hold continuing trials and develop new products for the market, the corporations have taken a variety of techniques, such as mergers and acquisitions, and collaborations. The players are focusing on mergers and acquisitions to enhance their global presence as well as sustain in the market.
Doosan Fuel Cell (United States), Hyundai Fuel Cell (United States), Yangzhou Xinyuan Electric Co., Ltd. (PowerhV-Xinyuan) (China), PowerCell Sweden (Sweden), Ceres Power (United Kingdom), Horizon Fuel Cell Technologies (Singapore), Ballard Power Systems (Canada), Advent Technologies Hldgs (United States) and Intelligent Energy (United Kingdom) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Hydrogen Fuel Cell Stacks market by Type , by Application (Transport, Stationary and Portable) and Region with country level break-up.
On the basis of geography, the market of Hydrogen Fuel Cell Stacks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
In 2020, Ballard Power Systems the launch its FCgen-HPS product, a high-performance, zero-emission, proton exchange membrane (PEM) fuel cell stack, to provide propulsion for a range of Light-, Medium- and Heavy-Duty vehicles in an industry-leading volumetric high-power density of 4.3 kilowatts per liter (4.3 kW/L). Ballard's Technology Solutions initiative with Audi AG saw the complete design and development of the FCgen-HPS to exacting automotive specifications.
On 7th June 2022, Clean Vision Corporation announced its wholly owned subsidiary, EcoCell, in partnership with Kingsberry Fuel Cell Power Inc. has completed the architecture design for its clean hybrid hydrogen-based fuel cell electric power system. The company plans to show off the first prototypes to prospective clients and business partners.
Hydrogen Fuel Cell Stacks Market Dynamics:
Attributes | Details |
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Trends Influencing Market | - Technological Advancement Associated with the Extraction, Storage, and Transportation
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Key Restraints | - High Cost Associated with the Raw Materials
- Stringent Regulatory Guidelines on the Commercial Projects
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Challenges | - Lack of Good Infrastructure
- Safety Concerns with the Highly Flammable Fuel Source
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Market Opportunities | - Government Spending on Zero Emission Vehicles and Reduce Carbon Footprint these factors can create Opportunities for the Market Growth
- Growing Adoption of Hydrogen Fuel Cell Stacks in Europe
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Key Target Audience
Hydrogen Fuel Cell Stacks Manufacturers, Hydrogen Fuel Cell Stacks Providers and Suppliers, Regulatory Bodies, Potential Investors, New Entrants, Research and Development Institutes and Others