Hydrogen Fuel Cell Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2020 - 2025

Report Code: AM 47068 Report Format: PDF + Excel (Delivery in 48 Hrs)

Overview

Hydrogen Fuel Cell market is forecast to reach $45.34 billion by 2025, after growing at a CAGR of 65.86% during 2020-2025. Increasing Government initiatives and subsidies for manufacture of fuel cell electric vehicles in order to reduce carbon emissions is set to drive hydrogen fuel cell market size. High investment by automotive companies into manufacturing of fuel cell vehicles and growing public interest towards sustainable and environment-friendly products will further enhance the overall market demand for Hydrogen Fuel Cells that transfer chemical potential energy into electrical energy.

Report Coverage

The report: “Hydrogen Fuel Cell Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Hydrogen Fuel Cell market report.

Key Takeaways

  • Asia-Pacific dominates the Hydrogen Fuel Cell industry owing to increasing demand from applications such as transportation and unmanned aerial vehicles sector owing to high investments.
  • The growing demand for air cooled products owing to its benefits such as design, cost and growing trend for portable power systems as they act as electrical power systems for vehicles in order to recharge batteries. This drives the hydrogen fuel cell industry.
  • Increasing adoption of sustainable and environment friendly products, implementation of stringent government regulations related to vehicular emissions will increase the market demand for Hydrogen Fuel Cell in the near future.
  • Increasing demand for fuel cell electric vehicles and the ban on diesel and gasoline vehicles going forward in the European countries will create opportunities for the Hydrogen Fuel Cell market.

Type - Segment Analysis

Air cooled segment held the largest share in the Hydrogen Fuel Cell market share in 2018. Air cooled type fuel cells offer efficient and cost effective cooling which promote the hydrogen fuel cell growth. High power density, high efficiency, flexibility in system packaging, simple and low cost design compared to water cooled system are the parameters that have been attracting manufacturers and users to opt for air cooled hydrogen fuel cells, thereby driving the market growth.

Application - Segment Analysis

Transportation sector has been the primary market for Hydrogen Fuel Cells. China, Japan and South Korea are expected to be pivotal in advancing the fuel cell electric vehicle technology, as Toyota, Toshiba, Panasonic and Hyundai-Kia claim to become the global leaders in fuel cell technology. Moreover, the government subsidies for fuel cell electric vehicles (FCEVs) in Asian countries such as China, Japan, and South Korea, is expected to create opportunities for private sector investments and start a new era in fuel cell vehicle technology.  In October 2019, Doosan mobility had launched hydrogen fuel cell pack for drones that can fly 2hours duration. Innovation of hydrogen fuel cells for various means of transportation sector set to drive the hydrogen fuel cell market share.

Geography - Segment Analysis

APAC dominated the Hydrogen Fuel Cell market with a share of more than 32%, followed by North America and Europe. Favorable government policies in countries such as China, Japan and South Korea are driving the clean energy usage in APAC region. In 2019, an order for 74 fuel cell electric buses (FCEBs) was placed from Zhangjiakou City of China for preparation for the 2022 Winter Olympics. The deployment of fuel cell electric vehicles is likely to grow in other cities in China in near future. In 2019, Tokyo Metropolitan Government’s (TMG’s) has planned to power several operations in 2020 Olympic and Paralympics games, which will be held at Tokyo, using fuel cell technology. This has created ample of business opportunities for hydrogen fuel cell top 10 companies. In 2018, Panasonic Corporation has planned to commercialized hydrogen fuel cell generators by 2021. At present, Japan has approximately 100 fueling stations which are subsidized by the Government with continued operational support from manufacturers like Toyota. The Japan’s Government is planning to build 900 hydrogen fueling stations by 2030 which set to create ample opportunities for hydrogen fuel cells.  This create opportunities for hydrogen fuel cells.

Therefore, factors such as supportive government policies and efforts to incorporate fuel cell technology in transportation and other applications are expected to drive the hydrogen fuel cell market size in the region during the forecast period.

Drivers – Hydrogen Fuel Cell Market

·         Rising demand for fuel cell electric vehicles

Fuel cell electric vehicles are key part of low carbon future and play an important role in achieving global carbon reduction targets. High investments in the technology by many global automotive manufacturers in developing fuel cell electric vehicles is set to drive hydrogen fuel cell market. By 2021, most of the leading automotive manufacturers are expected to have launched fuel cell electric vehicle globally, demonstrating real world application of the technology. Some of the automotive companies such as Hyundai, Toyota, Honda, Daimler, BMW have started developing FCEV with hydrogen fuel cell as this fuel cell releases by products such as water vapor and heat which makes it a truly zero-emission locomotive technology. This has created opportunities for hydrogen fuel cells.

·         Rising demand for hydrogen fuel cells due to benefits associated with it and Government norms and initiatives for low carbon emissions.

Increasing government norms in order to reduce carbon emissions set to create ample opportunities for hydrogen fuel cells. As hydrogen fuel cells emits byproducts as water vapor and heat, here is high demand for fuel vehicles which creates no harmful gases. The impact of switching from gasoline to a hydrogen fuel cell due to benefits associated with hydrogen fuel cell such as high efficiency compared to gasoline and advantage of reducing emissions are fueling the market growth.

Challenges – Hydrogen Fuel Cell Market

·         High cost of Hydrogen Fuel Cell

Hydrogen fuel cells are expensive and this hampers the growth of the market. The expenses for hydrogen fuel cells such as transportation and storage costs are higher than gasoline products expenses. The safety concerns associated with hydrogen are more as hydrogen is flammable. Unlike gas, hydrogen has no smell. High usage of gas sensors and gas detectors for hydrogen plants set to hamper the growth of the market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Hydrogen Fuel Cell market. In 2018, the market of Hydrogen Fuel Cell has been consolidated by the top five players accounting for xx% of the share. Major players in the Hydrogen Fuel Cell Market are Toshiba Corporation, Plug Power Inc, AFC Energy plc, Panasonic Corporation, Ballard Power Systems, Doosan Fuel Cell and among others.

Acquisitions/Technology Launches

Ø  In June 2019, Plug Power Inc had acquired Canadian based company EnergyOr for lightweight and compact hydrogen fuel cell systems for robotics, material handling and aerospace applications. The acquisition had made Plug Power company in integrating small, ultralight weight fuel cell technology of EnergyOr into its portfolio of fuel cell products.

Ø  In November 2019, AFC Energy plc had launched HydroX-cell which is a zero emission, high efficiency and low cost alkaline fuel cell. The product utilizes lower grades of hydrogen and can be used in industrial applications. High adoption of hydrogen fuel cells which have high efficiency in industrial applications is set to drive the hydrogen fuel cell market size. 

1. Hydrogen Fuel Cell Market - Overview
        1.1 Definitions and Scope
2. Hydrogen Fuel Cell Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Hydrogen Fuel Cell Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Hydrogen Fuel Cell Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Hydrogen Fuel Cell Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Hydrogen Fuel Cell Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Hydrogen Fuel Cell Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Hydrogen Fuel Cell Market - By Mode Of Transportation (Market Size -$Million / $Billion)
        8.1 Railway
        8.2 Waterway
        8.3 Roadway
9. Hydrogen Fuel Cell Market - By Technology (Market Size -$Million / $Billion)
        9.1 Proton Exchange Membrane Fuel Cell
        9.2 Phosphoric Acid Fuel Cell
10. Hydrogen Fuel Cell - By Application (Market Size -$Million / $Billion)
11. Hydrogen Fuel Cell- By Geography (Market Size -$Million / $Billion)
        11.1 Hydrogen Fuel Cell Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Hydrogen Fuel Cell- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Hydrogen Fuel Cell- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Hydrogen Fuel Cell - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Hydrogen Fuel Cell - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Hydrogen Fuel Cell Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Hydrogen Fuel Cell Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Hydrogen Fuel Cell Market - Key Company List by Country Premium
15. Hydrogen Fuel Cell Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Alstom
        15.3 Bmw
        15.4 Dailmer
        15.5 General Motor
        15.6 Honda
        15.7 Hundai
        15.8 Micromulticopter Aero Techology Co Ltd
        15.9 Toyota
        15.10 Viking Cruise
        15.11 Volvo
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. Hydrogen Fuel Cell Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Hydrogen Fuel Cell Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Hydrogen Fuel Cell Market By Technology Market 2019-2024 ($M)
1.1 Proton Exchange Membrane Fuel Cell Market 2019-2024 ($M) - Global Industry Research
1.2 Phosphoric Acid Fuel Cell Market 2019-2024 ($M) - Global Industry Research
2.Global Hydrogen Fuel Cell Market By Mode Of Transportation Market 2019-2024 ($M)
2.1 Railway Market 2019-2024 ($M) - Global Industry Research
2.2 Waterway Market 2019-2024 ($M) - Global Industry Research
2.3 Roadway Market 2019-2024 ($M) - Global Industry Research
3.Global Hydrogen Fuel Cell Market By Technology Market 2019-2024 (Volume/Units)
3.1 Proton Exchange Membrane Fuel Cell Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Phosphoric Acid Fuel Cell Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Hydrogen Fuel Cell Market By Mode Of Transportation Market 2019-2024 (Volume/Units)
4.1 Railway Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Waterway Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Roadway Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Hydrogen Fuel Cell Market By Technology Market 2019-2024 ($M)
5.1 Proton Exchange Membrane Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
5.2 Phosphoric Acid Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
6.North America Hydrogen Fuel Cell Market By Mode Of Transportation Market 2019-2024 ($M)
6.1 Railway Market 2019-2024 ($M) - Regional Industry Research
6.2 Waterway Market 2019-2024 ($M) - Regional Industry Research
6.3 Roadway Market 2019-2024 ($M) - Regional Industry Research
7.South America Hydrogen Fuel Cell Market By Technology Market 2019-2024 ($M)
7.1 Proton Exchange Membrane Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
7.2 Phosphoric Acid Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
8.South America Hydrogen Fuel Cell Market By Mode Of Transportation Market 2019-2024 ($M)
8.1 Railway Market 2019-2024 ($M) - Regional Industry Research
8.2 Waterway Market 2019-2024 ($M) - Regional Industry Research
8.3 Roadway Market 2019-2024 ($M) - Regional Industry Research
9.Europe Hydrogen Fuel Cell Market By Technology Market 2019-2024 ($M)
9.1 Proton Exchange Membrane Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
9.2 Phosphoric Acid Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
10.Europe Hydrogen Fuel Cell Market By Mode Of Transportation Market 2019-2024 ($M)
10.1 Railway Market 2019-2024 ($M) - Regional Industry Research
10.2 Waterway Market 2019-2024 ($M) - Regional Industry Research
10.3 Roadway Market 2019-2024 ($M) - Regional Industry Research
11.APAC Hydrogen Fuel Cell Market By Technology Market 2019-2024 ($M)
11.1 Proton Exchange Membrane Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
11.2 Phosphoric Acid Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
12.APAC Hydrogen Fuel Cell Market By Mode Of Transportation Market 2019-2024 ($M)
12.1 Railway Market 2019-2024 ($M) - Regional Industry Research
12.2 Waterway Market 2019-2024 ($M) - Regional Industry Research
12.3 Roadway Market 2019-2024 ($M) - Regional Industry Research
13.MENA Hydrogen Fuel Cell Market By Technology Market 2019-2024 ($M)
13.1 Proton Exchange Membrane Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
13.2 Phosphoric Acid Fuel Cell Market 2019-2024 ($M) - Regional Industry Research
14.MENA Hydrogen Fuel Cell Market By Mode Of Transportation Market 2019-2024 ($M)
14.1 Railway Market 2019-2024 ($M) - Regional Industry Research
14.2 Waterway Market 2019-2024 ($M) - Regional Industry Research
14.3 Roadway Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
2.Canada Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
3.Mexico Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
4.Brazil Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
5.Argentina Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
6.Peru Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
7.Colombia Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
8.Chile Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
9.Rest of South America Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
10.UK Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
11.Germany Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
12.France Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
13.Italy Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
14.Spain Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
15.Rest of Europe Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
16.China Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
17.India Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
18.Japan Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
19.South Korea Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
20.South Africa Hydrogen Fuel Cell Market Revenue, 2019-2024 ($M)
21.North America Hydrogen Fuel Cell By Application
22.South America Hydrogen Fuel Cell By Application
23.Europe Hydrogen Fuel Cell By Application
24.APAC Hydrogen Fuel Cell By Application
25.MENA Hydrogen Fuel Cell By Application
26.Honda, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Toyota, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Hundai, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Dailmer, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Micromulticopter Aero Techology Co Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Alstom, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Viking Cruise, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Volvo, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Bmw, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.General Motor, Sales /Revenue, 2015-2018 ($Mn/$Bn)