LONDON–(BUSINESS WIRE)–The fuel cells market for industrial and military applications is expected to grow by 208.84 MW, progressing at a CAGR of over 12% during the forecast period.
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The growing demand for efficient and cleaner technologies is one of the major factors propelling market growth. However, factors such as high implementation costs will hamper market growth.
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Fuel Cells Market for Industrial and Military Applications: End-user Landscape
Based on the end-user, the market witnessed maximum demand from the industrial segment in 2019. This is due to the increased use of fuel cells in the industrial sector for prime/backup power and CHP applications.
Fuel Cells Market for Industrial and Military Applications: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 51% of the market’s overall growth is expected to originate from APAC. The increase in investment in fuel cell devices and advances in technology are the two main factors that will drive the market growth in the region during the forecast period. Japan and China are the key markets for fuel cells for industrial and military applications in APAC.
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Companies Covered:
- Ballard Power Systems Inc.
- Doosan Corp.
- FuelCell Energy Inc.
- Horizon Fuel Cell Technologies Pte. Ltd.
- Intelligent Energy Ltd.
- Nuvera Fuel Cells LLC
- Oorja Corp.
- Plug Power Inc.
- SFC Energy AG
- Toshiba Corp.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Industrial – Market size and forecast 2019-2024
- Military – Market size and forecast 2019-2024
- Market opportunity by End-user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Americas – Market size and forecast 2019-2024
- EMEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Ballard Power Systems Inc.
- Doosan Corp.
- FuelCell Energy Inc.
- Horizon Fuel Cell Technologies Pte. Ltd.
- Intelligent Energy Ltd.
- Nuvera Fuel Cells LLC
- Oorja Corp.
- Plug Power Inc.
- SFC Energy AG
- Toshiba Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
