Global Fuel Cell Material Industry Market Research 2022-2030

"The size of the global fuel cell market in 2021 is estimated to be ~USD 15 billion, anticipated to expand at a compound annual growth rate of ~17% over the forecast period 2022-2030. One of the key growth drivers is the growing demand for non-traditional energy sources. Other factors such as building public-private partnerships and reducing pollution should drive demand. Governments around the world should encourage the provision of various forms of support, including funding for research activities and related funding programs.

Establishing a robust regulatory and policy framework is particularly important as government agencies must create an appropriate investment environment. The proportion of solid fuel cells is expected to reach 68% by 2022. Factors such as flexibility, high efficiency and the use of direct current for different types of fuel use are key factors that should drive stable demand for fuel cells over the forecast period.

 

Actual Outlook: 

Solid oxide fuel cells dominated the fuel cell market with a sales share of USD 7 billion in 2020. Product diversity and performance will allow certain sectors to maintain their lead. The transport sector is expected to experience the fastest growth during the forecast period owing to the growing demand for fuel cell lift trucks and increased R&D activity in the developed European economy. Portable fuel cell research program for personal electronics, wearables, laptops, cell phones, APUs, consumer products and more. 

 

Product Information: 

Proton Membrane Fuel Cells (PEMFCs) account for more than 65% of units shipped in 2020. PEMFCs are widely used in applications such as forklifts, automobiles, communication systems, primary and power supply systems. Adaptability is the most important factor determining demand during the forecast period. The US Department of Energy (DOE) operates the Fuel Cell Technology Office (FCTO), Solid Oxide Fuel Cells (SOFC), and other fuel cell development programs. 

 

Solid oxide fuel cells (SOFCs) are expected to grow significantly in the near future. No electrolyte loss is required in SOFCs as all solid components are present. It can operate at high temperatures, eliminating the need for expensive catalysts such as ruthenium. In 2019, molten carbonate fuel cells (MCFCs) became the most important product segment with a demand of 380 MW. With the widespread use of molten carbonate fuel cells in large stationary power plants, the sector is expected to grow rapidly in the coming years. 

 

Region: In Canada, the federal government supports organizations and companies involved in the field of fuel cells. For example, in 2017, the Canadian government invested $43 million in clean innovation, including $20 million in clean energy projects.

 

 Sections presented in this report:

The report forecasts global, regional and national sales growth and provides an analysis of the latest industry trends in each sub-sector from 2022-2030. This report studies the Global  Fuel Cell Market Break the report on by application. and product sector. Product Outlook (Volume, Unit, Capacity, MW, Revenue, USD Million, 2022-2030) PEMFCPAFCSOFCMCCFCO Other Program Perspectives (Volume, Unit, Capacity), MW, Revenue, USD Million, 2016-2027 Bureau of Solid Transportation-Fuel Cell Technology ( US Department of Energy (DOE) FCTO), Solid Oxide Fuel Cell (SOFC) and “Other Fuel Cell” Development Funding Program. Solid oxide fuel cells (SOFCs) have the potential to grow significantly in the near future. 

 

No electrolyte loss is required in SOFCs as all solid components are present. Because they can operate at high temperatures, they do not require expensive catalysts such as ruthenium, making molten coal fuel cells (MCFCs) the largest generators with a demand of 380 MW in 2019. The industry is expected to grow rapidly in the coming years due to the widespread use of molten carbonate fuel cells in large stationary power plants

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Regional perspective: 

In Canada, the federal government funds fuel cell organizations and businesses. For example, in 2017, the Canadian government invested $43 million in clean technology innovation, including $20 million to support pre-commercialization of clean energy projects. In the United States and Canada, these government-funded initiatives have facilitated product development and distribution in North America. The European market will focus more on public-private partnerships in the near future to achieve the goal of transitioning to a low-carbon economy and maintain more competitive advantage."
 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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