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Fuel Cell Market Sales to Reach $41,143.1 million by 2031

Fuel Cell Market Sales to Reach $41,143.1 million by 2031

The Fuel Cell is a sustainable and flexible source of electricity. It converts hydrogen and oxygen into water and electricity, thus it produces no CO2 emissions. The technology has been used in space rockets and is being developed to power trucks and aircraft, but there are still many hurdles to overcome before commercial fuel cell cars become available.

A fuel cell is an electrochemical device that converts the chemical energy of a fuel into electricity and produces heat, which can be used to generate high-pressure steam by driving a turbine. Fuel cells may be attached directly to machinery, or they may be embedded into buildings.

Highlighted with 101 tables and 83 figures, this 177-page report “Global Fuel Cell Market 2022-2031 by Product (PEMFC, PAFC, SOFC, MCFC, DMFC, AFC), Capacity (200 Kw or below, above 200 Kw), Application (Stationary, Transportation, Portable), End User, and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global fuel cell market and all its sub-segments through extensively detailed classifications.

Global fuel cell market will reach $41,143.1 million by 2031, growing by 21% annually over 2022-2031 driven by the increasing need for clean power generation, stringent norms on greenhouse gas (GHG) emission across the globe, increasing R&D grants and government incentives, and the mounting environmental concerns and expanding urbanization.

Request Research Sample with Latest Industry Insights (177+ Pages Report): https://altusmarketresearch.com/reports/sample/43082

Based on Product, the global Fuel Cell Market is segmented into the following sub-markets with annual revenue ($ mn), capacity (MW), and volume (units) for 2022-2031 included in each section.

• Proton Exchange Membrane Fuel Cell (PEMFC)
• Phosphoric Acid Fuel Cell (PAFC)
• Solid Oxide Fuel Cell (SOFC)
• Molten Carbonate Fuel Cell (MCFC)
• Direct Methanol Fuel Cell (DMFC)
• Alkaline Fuel Cell (AFC)
• Other Fuel Cells

Based on Capacity, the global Fuel Cell Market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2031 included in each section.

• Small Scale (Up to 200 Kw)
• Large Scale (Above 200 Kw)

By Application, the global Fuel Cell Market is segmented into the following sub-markets with annual revenue ($ mn), capacity (MW), and volume (units) for 2022-2031 included in each section.

• Stationary
• Transportation
• Portable

By End User, the global Fuel Cell Market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2031 included in each section.

• Transportation
• Utilities & Government/Municipal Institutes
• Residential
• Commercial & Industrial
• Data Centers
• Military & Defense

Geographically, the following regions together with the listed national/local markets are fully investigated:

• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Israel, Saudi Arabia, South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2022-2031. The breakdown of all regional markets by country and split of each national market by Product, Capacity and Application over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including Fuel Cell Market leaders and important emerging players.

Selected Key Players:

Ballard Power Systems Inc.
Bloom Energy Corp.
Ceres Power Holdings PLC
Cummins Inc.
Doosan Fuel Cell America, Inc.
FuelCell Energy Inc.
Horizon Fuel Cell Technologies Pte. Ltd.
Hydrogenics Corporation
Intelligent Energy Limited
Mitsubishi Hitachi Power Systems Ltd.
Nedstack Fuel Cell Technology BV
Nuvera Fuel Cells Inc. (Nuvera Fuel Cells LLC)
Panasonic Corporation
Plug Power Inc.
PowerCell Sweden AB
SFC Energy AG
Toshiba Energy Systems & Solutions Corporation

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