Global Fuel Cells Market: Market research by Knowledge Sourcing Intelligence

Global fuel cells market is anticipated to grow at a CAGR of 16.03% during the forecast period to reach a market size of US$5,865.830 million by 2024, increasing from US$2,403.852 million in 2018. A fuel cell is a power source that uses the chemical energy of hydrogen or some other fuel to produce electricity in a clean and efficient manner. Rising concerns regarding the hazardous environmental impacts of conventional energy sources are driving the adoption of clean power sources like fuel cells. 

Global Fuel Cells Market by Geography :
Geographically, global fuel cells market has been segmented as North America, Europe, Asia-Pacific, and rest of the world. North America dominated the global fuel cells market in 2018 owing to the early adoption of the technology in countries like the U.S. and Canada. APAC will witness the fastest regional market growth during the forecast period owing to booming demand across automotive and consumer electronics industries in the region.The market research provides a detailed analysis of global fuel cells market on the basis of various segment like- By Geography, By Application etc.

Sample view of Global Fuel Cells Market Share by Geography

Global Fuel Cells Market by Application :
By application, fuel cells market is segmented as portable, stationary, and transport. Transport application segment held the largest market share in 2018 owing to the high investments from automotive manufacturers in this technology. Portable fuel cells will witness a considerable market growth during the forecast period, primarily across consumer electronics sector. Their advantage of being used in emergency situations such as hurricanes, earthquakes, and fires will also provide potential to market players to add more portable fuel cell products in this portfolio, thus, positively impacting the market growth.

Request Free Sample or Download the report:
For our Energy and Power Industry coverage:

 The demand for these cells in such regions is also being aided by industry players willing to expand their business and enhance their geographical footprint.





Location: KNOWLEDGE SOURCING INTELLIGENCE LLP SUITE 406, BSI BUSINESS PARK H-140, SECTOR 63 NOIDA, U.P. - 201301 INDIA

Comments

Post a Comment

Popular posts from this blog

European Minimally Invasive Surgical Instruments Market: Market Analysis by Knowledge Sourcing Intelligence

Image
European Minimally Invasive Surgical Instruments  market is anticipated to grow at a CAGR of 7.40% during the forecast period to reach a market size of US$7.739 billion by 2023, increasing from US$ 5.042 billion in 2017. Higher adoption of minimally invasive surgeries over traditional surgeries due to shorter or nil hospital stays, reduced post-operative pain, low incidences of post-operative complications and aesthetic reasons is driving the market growth. Rising adoption of the minimally invasive procedure is, thus a major driver of minimal invasive surgical instruments market in the region. However, due to shortage of skilled professionals, even the patients who are willing to opt for a minimally invasive procedure have to reluctantly undergo conventional procedures, hampering the growth of the market. European Minimally Invasive Surgical Instruments  market by Geography: By  country, the European minimally invasive surgical instruments market is segmented as Germany, France
Read more