Fuel
Cell Market Trends and Growth Projections: Industry Analysis by 2031

Global fuel cell market is estimated to grow at a CAGR of 20.0%
during the forecast period. Fuel cells are unique in terms of the variety of
their potential applications, they use a wide range of fuels and feedstocks and
provide power for systems as large as a utility power station and as small as a
laptop computer. Favorable government initiatives for the adoption of fuel cell
technology are offering enormous opportunities for the growth of the market.
The government and several private sector companies are working to leverage their
commitments to fuel cells and hydrogen, to strengthen its energy
infrastructure. 

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According
to the Hydrogen Fuel Cell Partnership's data, during the fourth quarter of
2022, 720 new hydrogen fuel cell cars were sold in the US, which is 20% more
than a year ago. It develops a 68% (ultimately 72%) peak-efficient direct
hydrogen fuel cell power system for heavy-duty trucks that can achieve
durability of 25,000 hours (ultimately 30,000 hours) and be mass-produced for
$80/kW (ultimately $60/kW). 

Moreover,
in January 2023, the US Department of Energy’s (DOE) Office of Energy
Efficiency and Renewable Energy (EERE) offers a funding opportunity
announcement (FOA) to support the R&D, and demonstration (RD&D) of
affordable hydrogen and fuel cell technologies. With these initiatives, the
organization focuses on key hydrogen delivery and storage technologies and
durable fuel cell technologies, particularly for heavy-duty trucks to reduce
carbon dioxide emissions and eliminate pollution from the tailpipe.

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This Report @ https://www.omrglobal.com/inquiry-before-buying/fuel-cell-market

Mergers
and acquisitions, collaborations, and product launches are some of the key
strategies adopted by market players. For instance, in January 2022, Doosan
Fuel Cell Co., Ltd. and Korea Hydro & Nuclear Power (KHNP) signed an
agreement for strengthening Hydrogen Fuel Cell Operation and Maintenance
Capabilities. The two companies work together to produce a roadmap for hydrogen
fuel cell operation and maintenance technical training, as well as a local
green hydrogen fuel cell project for distributed power. Moreover, in February
2022, Renault Group and Plug Power Inc. entered a joint venture with the
formation of HYVIA to work on low-carbon mobility and hydrogen fuel cells. This
joint venture integrates the entire hydrogen mobility ecosystem uniquely, from the
vehicle to infrastructure and turnkey services for customers. The development
of this cutting-edge technology enables the strengthening of the company’s
industrial base and setting up new value-generating activities in France in
this segment.

Market
Coverage

•             Segment Covered-

o             By Type 

o             By Application  

•             Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

•             Competitive Landscape- Ballard
Power Systems, Inc., Ceres Power Holdings plc, Fuel Cell Energy, Inc., Plug
Power Inc., Hydrogenics Corp., and others.

Key
questions addressed by the report

•             What is the market growth rate?

•             Which segment and region dominate
the market in the base year?

•             Which segment and region will
project the fastest growth in the market?

•             Who is the leader in the market?

•             How players are addressing
challenges to sustain growth?

•             Where is the investment
opportunity?

Global
Fuel Cell Market Report Segment

By
Type  

• Polymer Electrolyte Membrane Fuel Cell
  (PEMFC) 


• Solid Oxide Fuel Cell (SOFC)


• Molten Carbonate Fuel Cell (MCFC)


• Phosphoric Acid Fuel Cell (PAFC)


• Others (Alkaline Fuel Cell (AFC) and
  Direct Methanol Fuel Cell (DMFC))

By
Application 

• Stationary


• Portable


• Transportation

Reasons
to Buying From us -



1. We cover more than 15 major industries, further segmented into more than 90
sectors.

2. More than 120 countries are for analysis.

3. Over 100+ paid data sources mined for investigation.

4. Our expert research analysts answer all your questions before and after
purchasing your report.

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