Global Hydrogen and Fuel Cells Market Driven by Government Support for Clean Energy

Published Date : Apr 18, 2017

ALBANY, New York, April 18, 2017 – announces the inclusion of a new report to its repository, which provides a detailed overview of the global market for hydrogen and fuel cells, and estimates it to expand at a robust rate of 14.82% during the forecast period of 2017 to 2022. The report, titled “Global Hydrogen and Fuel Cells Market Research Report 2017,” estimates the valuation of this market to be US$1309.81 mn in 2017, and projects it to reach US$2613.75 mn by the end of 2022. These estimations are based on in-depth reports of all the factors that may influence the demand for hydrogen and fuel cells in the near future. The report also profiles a number of leading vendors in this market in order to understand the competitive landscape.

The report observes that several governments across the world are supporting the development of hydrogen power stations, which will act as the primary driver of the global hydrogen and fuel cells market. In addition to that, the increase in the number of vehicle manufacturing by the vendors in automobile industry is influencing the international bodies to focus on fuel cell electric vehicles (FCEVs), which is another important factors that is expected to positively reflect on the market for hydrogen and fuel cells. The report detects that governments in Norway, Denmark, and Finland have substantially invested on hydrogen stations for forklifts and buses. Stringent regulations pertaining to carbon emission and growing public transport, especially in Europe, are other factors favoring the global hydrogen and fuel cells market.

The report takes account of the US$2.6 bn investment promised by Germany in 2014 to improve hydrogen fueling infrastructure in the country for the next 10 years. In the same year, the U.K. also set aside a budget of 17.4 mn to develop infrastructure of hydrogen fueled automotive and refueling stations, which is also augmenting the demand for hydrogen and fuel cells.

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Based on product type, the report segments the global hydrogen and fuel cells market into air-cooled and water-cooled. Application-wise, the market has been bifurcated into stationary, transport, and portable. Currently, stationary application accounts for the maximum demand, owing to its usages as back-up power options in hospitals, commercial buildings, residential buildings, hotels, and schools. Geographically, the report studies the opportunities available in the regions of North America and Europe, and the countries of Japan and China.

The global hydrogen and fuel cells market is quite consolidated in nature with a few players owning major shares and acquisition of smaller organizations is the most prominent strategy adopted by these players to gain ground over their competitors. The report profiles a number of leading companies currently active in the global hydrogen and fuel cells market including Hyster-Yale Group, FuelCell Energy, Hydrogenics, Panasonic, PLUG Power, Intelligent Energy, Toshiba, Pearl Hydrogen, Doosan Fuel Cell, Nedstack, and Sunrise Power.

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