Fuel Cell Market by Type (PEMFC, SOFC, PAFC, MFC, DMFC, AFC), Application (Portable, Stationary, Vehicles (FCV)), Size (Small & Large), End User (Residential, C&l, Transportation, Data Center, Military & Defense, Utility), Region - Global Forecast to 2027
Fuel Cell Market by Type (PEMFC, SOFC, PAFC, MFC, DMFC, AFC), Application (Portable, Stationary, Vehicles (FCV)), Size (Small & Large), End User (Residential, C&l, Transportation, Data Center, Military & Defense, Utility), Region - Global Forecast to 2027
Abstract
The global fuel cell market size is estimated to be USD 2.9 billion in 2022 and is projected to reach USD 9.1 billion by 2027, at a CAGR of 26.0%. The market has a promising growth potential due to several factors, including the stringent norms on GHG emission across the globe, increasing R&D grants, increasing need of energy efficient power generation, and spur in demand of public as well as personal fuel cell electric vehicles.
“Stationary, The largest segment of fuel cell market, by application”
In the stationary application of fuel cells, the output required can be as high as multi megawatts (MW) or as low as less than 1 kW. Fuel cells with larger capacities are larger in size as well. These fuel cells can further be used for capacity addition and carbon capturing operations in a thermal power plant. Thus, the use of fuel cells consequently helps in reducing the carbon footprint in the residential, commercial, and industrial sectors.
“Transportation: The largest segment of fuel cell market, by end user”
The rising demand for personal mobility and increased concerns for low emission vehicles are driving the growth of the transportation end user. Several FCEV models, such as the Toyota Mirai, Honda Clarity, Mercedes Benz GLC FCEV, Nissan X-Trail FCEV, and Riversimple RASA are available in the market. Realizing the significant potential in the passenger light duty market, various companies are planning to launch new models in the coming years.
“Asia Pacific: The largest region in the fuel cell market”
Asia Pacific is one of the leading markets which is continuously shifting its focus towards green and renewable technologies to meet the targets set by the governments for reducing GHG emissions. Furthermore, countries such as Japan and South Korea are increasing their investments to adopt fuel cell technology.
Breakdown of Primaries:
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
•By Company Type– Tier 1- 65%, Tier 2- 24% Tier 3 - 11%
•By Designation— C level - 30%, Managers & Other Level - 70%
•By Region— North America - 27%, Europe - 20%, Asia Pacific - 53%
The fuel cell market is dominated by a few globally established players such as Bloom Energy (US), Aisin Corporation (Japan), Doosan Fuel Cell Co., Ltd. (South Korea), KYOCERA Corporation (Japan), Plug Power Inc. (US), Ceres (UK), Cummins Inc. (US), PowerCell Sweden AB (Sweden), TOSHIBA CORPORATION (Japan), Ballard Power Systems (Canada), SFC Energy (Germany), Mitsubishi Heavy Industries, Ltd (Japan), AFC Energy PLC (UK), ElringKlinger AG (Germany), Fuji Electric Co., Ltd. (Japan), Proton Motor Fuel Cell GmbH (UK), Adaptive Energy (US), Adelan (UK), Special Power Sources (US), ZTEK Corporation (US), SOLIDpower S.p.A. (Italy), Watt Fuel Cell Corporation (US), AVL List GmbH (Austria), Altergy (US), MICROrganic Technologies (US), Nedstack Fuel Cell Technology BV (Netharlands), Intelligent Energy Limited (UK), Horizon Fuel cell Technologies (Singapore), Nuvera Fuel Cells, LLC (US), and PowerUP Energy Technologies (Estonia).
Study Coverage:
The report segments the fuel cell market and forecasts its size, by volume and value, based on region (Asia Pacific, Europe, North America, and RoW), type (PEMFC, SOFC, PAFC, AFC, MFC, and DMFC), application (Stationary, Portable, and Fuel Cell Vehicles), size (Small scale and Large scale), end user (Residential, Commercial & Industrial, Transportation, Data Centers, Military & Defense, and Utilities & Government/Municipal Institutes).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the fuel cell market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key benefits of buying the report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market
Content
Table of Contents
1INTRODUCTION37
1.1STUDY OBJECTIVES37
1.2DEFINITION37
1.3INCLUSIONS AND EXCLUSIONS38
1.3.1FUEL CELL MARKET, BY APPLICATION38
1.3.2FUEL CELL MARKET, BY END USER38
1.4MARKET SCOPE39
1.4.1FUEL CELL MARKET SEGMENTATION39
1.4.2REGIONAL SCOPE39
1.5YEARS CONSIDERED40
1.6CURRENCY40
1.7LIMITATIONS40
1.8STAKEHOLDERS41
1.9SUMMARY OF CHANGES41
2RESEARCH METHODOLOGY43
2.1RESEARCH DATA43
FIGURE 1FUEL CELL MARKET: RESEARCH DESIGN44
2.2MARKET BREAKDOWN AND DATA TRIANGULATION45
FIGURE 2DATA TRIANGULATION METHODOLOGY45
2.2.1SECONDARY DATA46
2.2.2PRIMARY DATA47
2.2.2.1Key insights from primary sources47
2.2.2.2Breakdown of primaries48
2.3MARKET SIZE ESTIMATION49
2.3.1BOTTOM-UP APPROACH49
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH49
2.3.2TOP-DOWN APPROACH50
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH50
2.4DEMAND-SIDE METRICS51
FIGURE 5MAIN METRICS CONSIDERED FOR ANALYZING DEMAND FOR FUEL CELLS51
2.4.1REGIONAL ANALYSIS51
2.4.1.1Country analysis51
2.4.2DEMAND-SIDE KEY ASSUMPTIONS52
2.4.3DEMAND-SIDE CALCULATION52
2.5SUPPLY-SIDE ANALYSIS53
FIGURE 6KEY METRICS CONSIDERED FOR ASSESSING THE SUPPLY OF FUEL CELLS53
FIGURE 7FUEL CELL MARKET: SUPPLY-SIDE ANALYSIS53
2.5.1CALCULATIONS FOR SUPPLY-SIDE54
2.5.2ASSUMPTIONS FOR SUPPLY-SIDE54
FIGURE 8FUEL CELL MARKET: MARKER SHARE ANALYSIS, 202154
2.6FORECAST55
3EXECUTIVE SUMMARY56
TABLE 1FUEL CELL MARKET SNAPSHOT56
FIGURE 9ASIA PACIFIC CONTRIBUTED THE LARGEST SHARE TO
FUEL CELL MARKET IN 202157
FIGURE 10SOFC SEGMENT EXPECTED TO LEAD FUEL CELL MARKET, BY TYPE, IN 202758
FIGURE 11STATIONARY SEGMENT EXPECTED TO HOLD THE LARGEST SHARE OF
THE FUEL CELL MARKET, BY APPLICATION, IN 202758
FIGURE 12TRANSPORTATION SEGMENT EXPECTED TO DOMINATE THE FUEL CELL MARKET, BY END USER, IN 202759
FIGURE 13SMALL SCALE SEGMENT EXPECTED TO HOLD A LARGER SHARE OF
THE FUEL CELL MARKET, BY SIZE, IN 202760
4PREMIUM INSIGHTS61
4.1ATTRACTIVE OPPORTUNITIES IN THE FUEL CELL MARKET61
FIGURE 14INCREASING NEED FOR CLEAN POWER GENERATION TO BOOST MARKET GROWTH BETWEEN 2022 AND 202761
4.2FUEL CELL MARKET, BY REGION61
FIGURE 15ASIA PACIFIC FUEL CELL MARKET TO WITNESS HIGHEST GROWTH
DURING FORECAST PERIOD61
4.3ASIA PACIFIC FUEL CELL MARKET, BY END-USER INDUSTRY AND COUNTRY62
FIGURE 16THE TRANSPORTATION SECTOR AND CHINA CONTRIBUTED THE LARGEST SHARES TO THE FUEL CELL MARKET IN ASIA PACIFIC IN 202162
4.4FUEL CELL MARKET, BY TYPE62
FIGURE 17SOFC SEGMENT EXPECTED TO ACCOUNT FOR THE LARGEST MARKET SHARE, BY TYPE, IN 202762
4.5FUEL CELL MARKET, BY APPLICATION63
FIGURE 18STATIONARY SEGMENT TO ACCOUNT FOR THE LARGEST SHARE OF
THE FUEL CELL MARKET, BY APPLICATION, IN 202763
4.6FUEL CELL MARKET, BY END USER63
FIGURE 19TRANSPORTATION SEGMENT TO DOMINATE THE FUEL CELL MARKET,
BY END USER, IN 202763
4.7FUEL CELL MARKET, BY SIZE64
FIGURE 20SMALL SCALE SEGMENT TO DOMINATE THE FUEL CELL MARKET,
BY SIZE, IN 202764
5MARKET OVERVIEW65
5.1INTRODUCTION65
5.2COVID-19 HEALTH ASSESSMENT65
FIGURE 21GLOBAL PROPAGATION OF COVID-1966
FIGURE 22PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES66
5.3COVID-19 ECONOMIC ASSESSMENT67
FIGURE 23COMPARISON OF GDP FOR SELECTED G20 COUNTRIES IN 202067
5.4MARKET DYNAMICS68
FIGURE 24FUEL CELL MARKET: DRIVERS, RESTRAINTS,
OPPORTUNITIES, AND CHALLENGES68
5.4.1DRIVERS68
5.4.1.1Rise in the demand for fuel cell vehicles68
FIGURE 25FUEL CELL ELECTRIC VEHICLES BY MODE AND BY COUNTRY, 202069
5.4.1.2Advancements in research & development on fuel cells and government rebates69
5.4.1.3Stringent emission norms in Europe and North America leading to demand for clean energy sources70
FIGURE 26ENERGY-RELATED CO2 EMISSIONS, 1990–2019 (GT CO2)70
5.4.1.4Faster refueling of FCEVs compared to BEVs70
5.4.2RESTRAINTS71
5.4.2.1High cost of catalysts used in fuel cells71
5.4.2.2Storage issues associated with using hydrogen as fuel71
5.4.2.3High initial investments in hydrogen fueling infrastructure71
5.4.3OPPORTUNITIES71
5.4.3.1Increased efforts to augment hydrogen fueling stations71
FIGURE 27HYDROGEN REFUELLING STATIONS IN THE WORLD, 202072
5.4.3.2Rise in distributed power generation and combined heat & power applications across regions72
TABLE 2COMPARISON OF FUEL CELLS AND OTHER DISTRIBUTED POWER GENERATION SOURCES73
5.4.3.3Increased adoption of fuel cells for backup power in data centers73
5.4.3.4Growing investments in space programs and rising utilization of
fuel cells in the military73
5.4.4CHALLENGES74
5.4.4.1Water management in proton exchange membrane fuel cells74
5.4.4.2High operating temperatures and start-up time of
solid oxide fuel cells74
5.4.4.3High cost of fuel cell vehicles74
5.4.4.4Competition from BEVs and HEVs75
5.5IMPACT OF COVID-1975
5.6TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS75
FIGURE 28REVENUE SHIFT FOR FUEL CELL PROVIDERS75
5.7PRICING ANALYSIS76
5.7.1PEMFC BACKUP SYSTEM PRICING ANALYSIS76
TABLE 3PEM STACK COMPONENT COST SUMMARY-5 KW & 10 KW BACKUP
SYSTEM (USD), 201676
TABLE 4PEM BALANCE OF PLANT (BOP) COST SUMMARY (USD)76
FIGURE 295 KW SYSTEM BOP COST DISTRIBUTION77
FIGURE 3010 KW SYSTEM BOP COST DISTRIBUTION77
5.7.2PEMFC AUTOMOTIVE SYSTEM PRICE ANALYSIS77
TABLE 5COST SUMMARY FOR A 80 KW FUEL CELL VEHICLE (USD), 2018-201577
TABLE 6COST SUMMARY FOR A 160 KW MEDIUM DUTY FUEL CELL
VEHICLE (USD), 2018-202578
5.8VALUE CHAIN ANALYSIS78
FIGURE 31VALUE CHAIN ANALYSIS: FUEL CELL MARKET78
5.8.1COMPONENT MANUFACTURERS79
5.8.2ASSEMBLERS/MANUFACTURERS79
5.8.3DISTRIBUTORS (BUYERS)/END USERS79
5.9TECHNOLOGY ANALYSIS79
5.9.1DIRECT BOROHYDRIDE FUEL CELLS79
5.9.2NANOPARTICLE BASED FUEL CELLS79
5.9.3NON PRECIOUS METAL CATALYST BASED FUEL CELLS80
5.9.4HEXAGONAL PEROVSKITES FOR CERAMIC FUEL CELLS80
5.10TRADE ANALYSIS80
5.10.1EXPORT SCENARIO80
TABLE 7EXPORT SCENARIO FOR HS CODE: 280410, BY COUNTRY, 2019–2021 (USD)80
5.10.2IMPORT SCENARIO81
TABLE 8IMPORT SCENARIO FOR HS CODE: 280410, BY COUNTRY, 2019–2021 (USD)81
5.11KEY CONFERENCES AND EVENTS IN 2022 & 202381
TABLE 9FUEL CELL MARKET: DETAILED LIST OF CONFERENCES & EVENTS81
5.12MARKET MAP84
FIGURE 32MARKET MAP: FUEL CELL MARKET84
TABLE 10FUEL CELL MARKET: ROLE IN ECOSYSTEM85
5.13PATENT ANALYSIS86
5.13.1LIST OF MAJOR PATENTS86
TABLE 11FUEL CELL: INNOVATIONS AND PATENT REGISTRATIONS,
MARCH 2021–MARCH 202286
5.14CASE STUDY ANALYSIS88
5.14.1SAMSUNG HEAVY INDUSTRIES PLANS FOR CLEAN POWER SHIPS UNDER A JOINT DEVELOPMENT AGREEMENT WITH BLOOM ENERGY (JUNE 2020)88
5.14.1.1Problem statement88
5.14.1.2Solution88
5.14.2BALLARD POWER SYSTEMS POWER THE WORLD’S FIRST COMMERCIAL
FUEL CELL POWERED TRAM LINE (JULY 2019)89
5.14.2.1Problem statement89
5.14.2.2Solution89
5.14.3SOUTHERN COMMUNICATION SERVICES EMPLOYS PLUG POWER HYDROGEN FUEL CELLS FOR UNINTERRUPTED POWER SUPPLY (JULY 2017)89
5.14.3.1Problem statement89
5.14.3.2Solution89
5.14.4IKEA USES FUEL CELLS FOR ON-SITE POWER (JANUARY 2017)89
5.14.4.1Problem statement89
5.14.4.2Solution89
5.15FUEL CELL MARKET: REGULATIONS90
5.15.1REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS90
TABLE 12NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS90
TABLE 13EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS90
TABLE 14ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS91
5.15.1.1Regulations related to fuel cells91
5.15.1.1.1Regulatory framework in North America91
5.15.1.1.2Regulatory framework in Europe92
5.15.1.1.3Regulatory framework in Asia Pacific92
5.16PORTER’S FIVE FORCES ANALYSIS93
FIGURE 33PORTER’S FIVE FORCES ANALYSIS FOR THE FUEL CELL MARKET93
TABLE 15FUEL CELL MARKET: PORTER’S FIVE FORCES ANALYSIS94
5.16.1THREAT OF SUBSTITUTES94
5.16.2BARGAINING POWER OF SUPPLIERS94
5.16.3BARGAINING POWER OF BUYERS94
5.16.4THREAT OF NEW ENTRANTS95
5.16.5RIVALRY AMONG EXISTING COMPETITORS95
5.17KEY STAKEHOLDERS & BUYING CRITERIA95
5.17.1KEY STAKEHOLDERS IN BUYING PROCESS95
FIGURE 34INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY TOP END USERS95
TABLE 16INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY TOP END USERS (%)96
5.17.2BUYING CRITERIA96
FIGURE 35KEY BUYING CRITERIA FOR TOP END USERS96
TABLE 17KEY BUYING CRITERIA, BY END USER96
6FUEL CELL MARKET, BY TYPE97
6.1INTRODUCTION98
FIGURE 36FUEL CELL MARKET: BY TYPE, (VOLUME), 202198
TABLE 18FUEL CELL MARKET: BY TYPE, 2016–2019 (MW)98
TABLE 19FUEL CELL MARKET: BY TYPE, 2020–2027 (MW)99
FIGURE 37FUEL CELL MARKET: BY TYPE, (VALUE) 202199
TABLE 20FUEL CELL MARKET: BY TYPE, 2016–2019 (USD MILLION)99
TABLE 21FUEL CELL MARKET: BY TYPE, 2020–2027 (USD MILLION)100
6.2PROTON EXCHANGE MEMBRANE FUEL CELL (PEMFC)100
6.2.1INCREASING DEMAND FOR PEMFC IN FUEL CELL ELECTRIC VEHICLES (FCEVS) TO DRIVE THE MARKET GROWTH100
TABLE 22PROTON EXCHANGE MEMBRANE FUEL CELL MARKET: BY REGION,
2016–2019 (MW)101
TABLE 23PROTON EXCHANGE MEMBRANE FUEL CELL MARKET: BY REGION,
2020–2027 (MW)101
TABLE 24PROTON EXCHANGE MEMBRANE FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)101
TABLE 25PROTON EXCHANGE MEMBRANE FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)102
6.3SOLID OXIDE FUEL CELL (SOFC)102
6.3.1FUEL FLEXIBILITY AND INCREASING DEMAND FOR ENERGY-EFFICIENT POWER GENERATION TO BOOST THE SOFC MARKET GROWTH102
TABLE 26SOLID OXIDE FUEL CELL MARKET: BY REGION, 2016–2019 (MW)102
TABLE 27SOLID OXIDE FUEL CELL MARKET: BY REGION, 2020–2027 (MW)103
TABLE 28SOLID OXIDE FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)103
TABLE 29SOLID OXIDE FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)103
6.4PHOSPHORIC ACID FUEL CELL (PAFC)104
6.4.1ADOPTION OF PAFCS IN STATIONARY APPLICATIONS TO DRIVE
THE MARKET GROWTH104
TABLE 30PHOSPHORIC ACID FUEL CELL MARKET: BY REGION, 2016–2019 (KW)104
TABLE 31PHOSPHORIC ACID FUEL CELL MARKET: BY REGION, 2020–2027 (KW)104
TABLE 32PHOSPHORIC ACID FUEL CELL MARKET: BY REGION,
2016–2019 (USD THOUSAND)105
TABLE 33PHOSPHORIC ACID FUEL CELL MARKET: BY REGION,
2020–2027 (USD THOUSAND)105
6.5ALKALINE FUEL CELL(AFC)105
6.5.1HIGH ADOPTION OF AFCS IN TRANSPORT AND AEROSPACE APPLICATIONS TO ACCELERATE THE MARKET GROWTH105
TABLE 34ALKALINE FUEL CELL MARKET: BY REGION, 2016–2019 (KW)106
TABLE 35ALKALINE FUEL CELL MARKET: BY REGION, 2020–2027 (KW)106
TABLE 36ALKALINE FUEL CELL MARKET: BY REGION, 2016–2019 (USD THOUSAND)106
TABLE 37ALKALINE FUEL CELL MARKET: BY REGION, 2020–2027 (USD THOUSAND)107
6.6MICROBIAL FUEL CELL(MFC)107
6.6.1INCREASED USE OF MICROBES IN FUEL CELL OPERATIONS IN WATER AND WASTEWATER TREATMENT INDUSTRIES TO STIMULATE GROWTH OF
THE MFC SEGMENT107
TABLE 38MICROBIAL FUEL CELL MARKET: BY REGION, 2019–2027 (KW)107
TABLE 39MICROBIAL FUEL CELL MARKET: BY REGION, 2019–2027 (USD THOUSAND)108
6.7DIRECT METHANOL FUEL CELL (DMFC)108
6.7.1ADOPTION OF MCFCS IN LARGE STATIONARY APPLICATIONS TO
DRIVE THE MARKET GROWTH108
TABLE 40DMFC MARKET: BY REGION, 2016–2019 (KW)108
TABLE 41DMFC MARKET: BY REGION, 2020–2027 (KW)109
TABLE 42DMFC MARKET: BY REGION, 2016–2019 (USD THOUSAND)109
TABLE 43DMFC MARKET: BY REGION, 2020–2027 (USD THOUSAND)109
6.8OTHER TYPES OF FUEL CELLS110
6.8.1MOLTEN CARBONATE FUEL CELL (MCFC)110
6.8.2ANION EXCHANGE MEMBRANE FUEL CELL (AEMFC)110
7FUEL CELL MARKET, BY APPLICATION111
7.1INTRODUCTION112
FIGURE 38FUEL CELL MARKET, BY APPLICATION, 2021112
TABLE 44FUEL CELL MARKET: BY APPLICATION, 2016–2019 (USD MILLION)112
TABLE 45FUEL CELL MARKET: BY APPLICATION, 2020–2027 (USD MILLION)113
7.2PORTABLE113
7.2.1ADOPTION OF PORTABLE FUEL CELLS IN THE MILITARY AND DEFENSE SECTORS FOR LIGHTWEIGHT AXULLIARY POWER UNITS TO BOOST THE GROWTH OF THE SEGMENT113
TABLE 46PORTABLE FUEL CELL MARKET: BY REGION, 2016–2019 (USD THOUSAND)114
TABLE 47PORTABLE FUEL CELL MARKET: BY REGION, 2020–2027 (USD THOUSAND)114
7.3STATIONARY115
7.3.1INCREASING ADOPTION OF SOLID OXIDE FUEL CELLS IN THE STATIONARY APPLICATIONS TO BOOST MARKET GROWTH115
TABLE 48STATIONARY FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)116
TABLE 49STATIONARY FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)116
TABLE 50STATIONARY FUEL CELL MARKET: BY APPLICATION,
2016–2019 (USD MILLION)116
TABLE 51STATIONARY FUEL CELL MARKET: BY APPLICATION,
2020–2027 (USD MILLION)116
7.3.2PRIMARY117
7.3.2.1Increasing utilization of fuel cells in North American utilities expected to fuel the growth of the primary segment117
TABLE 52PRIMARY APPLICATION FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)117
TABLE 53PRIMARY APPLICATION FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)117
7.3.3BACK-UP118
7.3.3.1Adoption of fuel cells for back-up power generation in data centers during grid outages to boost the market growth118
TABLE 54BACK-UP APPLICATION FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)118
TABLE 55BACK-UP APPLICATION FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)119
7.3.4COMBINED HEAT & POWER (CHP)119
7.3.4.1Adoption of residential combined heat & power fuel cell units in Europe and Japan expected to drive the growth of the segment119
TABLE 56COMBINED HEAT & POWER APPLICATION FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)119
TABLE 57COMBINED HEAT & POWER APPLICATION FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)120
7.4FUEL CELL VEHICLES120
7.4.1DECARBONIZING THE TRANSPORTATION SECTOR TO DRIVE MARKET GROWTH120
TABLE 58FUEL CELL VEHICLES MARKET: BY REGION, 2016–2019 (USD MILLION)122
TABLE 59FUEL CELL VEHICLES MARKET: BY REGION, 2020–2027 (USD MILLION)122
TABLE 60FUEL CELL VEHICLES MARKET: BY APPLICATION, 2016–2019 (USD MILLION)122
TABLE 61FUEL CELL VEHICLES MARKET: BY APPLICATION, 2020–2027 (USD MILLION)123
7.4.2PASSENGER LIGHT DUTY FUEL CELL VEHICLES123
7.4.2.1Increased demand of personal mobility and stringent regulations on emissions to drive the segment growth123
TABLE 62PASSENGER LIGHT DUTY FUEL CELL VEHICLES MARKET: BY REGION,
2016–2019 (USD MILLION)124
TABLE 63PASSENGER LIGHT DUTY FUEL CELL VEHICLES: BY REGION,
2020–2027 (USD MILLION)124
7.4.3FUEL CELL BUSES125
7.4.3.1Increasing adoption of fuel cell buses for public transport in
China to increase the growth of the segment125
TABLE 64FUEL CELL BUSES MARKET: BY REGION, 2016–2019 (USD MILLION)125
TABLE 65FUEL CELL BUSES MARKET: BY REGION, 2020–2027 (USD MILLION)125
7.4.4FUEL CELL TRUCKS126
7.4.4.1Adoption of fuel cell trucks for long-range transportation to
drive the segment126
TABLE 66FUEL CELL TRUCKS MARKET: BY REGION, 2016–2019 (USD MILLION)126
TABLE 67FUEL CELL TRUCKS MARKET: BY REGION, 2020–2027 (USD MILLION)126
7.4.5OTHERS127
7.4.5.1Increasing focus on developing fuel cells for marine applications to drive the growth of the segment127
TABLE 68OTHER FUEL CELL VEHICLES MARKET: BY REGION,
2016–2019 (USD MILLION)128
TABLE 69OTHER FUEL CELL VEHICLES MARKET: BY REGION,
2020–2027 (USD MILLION)128
8FUEL CELL MARKET, BY END USER129
8.1INTRODUCTION130
FIGURE 39FUEL CELL MARKET: BY END USER, 2021130
TABLE 70FUEL CELL MARKET: BY END USER, 2016–2019 (USD MILLION)130
TABLE 71FUEL CELL MARKET BY END USER, 2020–2027 (USD MILLION)131
8.2RESIDENTIAL131
8.2.1RISING NEED FOR ENERGY REDUCTION AND ENERGY EFFICIENCY IN RESIDENTIAL AREAS IS EXPECTED TO DRIVE THE GROWTH OF THE RESIDENTIAL SEGMENT131
TABLE 72RESIDENTIAL FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)132
TABLE 73RESIDENTIAL FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)132
8.3COMMERCIAL & INDUSTRIAL132
8.3.1DECARBONIZING GOALS AND STRINGENT LAWS BY REGIONAL AUTHORITIES TO DRIVE MARKET GROWTH132
TABLE 74COMMERCIAL & INDUSTRIAL FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)133
TABLE 75COMMERCIAL & INDUSTRIAL FUEL CELL, BY REGION,
2020–2027 (USD MILLION)133
8.4TRANSPORTATION134
8.4.1PORTABLE SOLUTIONS ARE WELL SUITED FOR MILITARY & ORGANIZATIONS134
TABLE 76TRANSPORTATION FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)134
TABLE 77TRANSPORTATION FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)135
8.5DATA CENTERS135
8.5.1GROWING REQUIREMENT FOR BACKUP POWER IN DATA CENTERS DURING OUTAGES EXPECTED TO FUEL THE GROWTH OF THE DATA CENTERS SEGMENT135
TABLE 78DATA CENTERS FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)136
TABLE 79DATA CENTERS: FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)136
8.6MILITARY & DEFENSE136
8.6.1PORTABLE SOLUTIONS ARE WELL SUITED FOR MILITARY & ORGANIZATIONS WHICH DRIVES THE MARKET GROWTH136
TABLE 80MILITARY & DEFENSE FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)137
TABLE 81MILITARY & DEFENSE FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)137
8.7UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES138
8.7.1STRINGENT LAWS BY REGIONAL AUTHORITIES AND DECARBONIZING GOALS TO DRIVE MARKET GROWTH138
TABLE 82UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES FUEL CELL MARKET:
BY REGION, 2016–2019 (USD THOUSAND)138
TABLE 83UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES FUEL CELL MARKET:
BY REGION, 2020–2027 (USD THOUSAND)138
9FUEL CELL MARKET, BY SIZE139
9.1INTRODUCTION140
FIGURE 40FUEL CELL MARKET, BY SIZE, 2021140
TABLE 84FUEL CELL MARKET: BY SIZE, 2020–2027 (USD MILLION)140
9.2SMALL SCALE (UP TO 200 KW)140
9.2.1DIVERSE POWER OUTPUT MAKES SMALL SCALE CELLS SUITABLE FOR
ALL TYPES OF END USERS140
TABLE 85SMALL SCALE: FUEL CELL MARKET, BY REGION, 2020–2027 (USD MILLION)141
9.3LARGE SCALE (ABOVE 200 KW)141
9.3.1ROBUST ENERGY & CLIMATE POLICIES AND THE PRESENCE OF DIVERSE END USERS ARE THE POTENTIAL DRIVERS FOR THE MARKET141
TABLE 86LARGE SCALE: FUEL CELL MARKET: BY REGION,
2020–2027 (USD THOUSAND)142
10GEOGRAPHIC ANALYSIS143
10.1INTRODUCTION144
FIGURE 41REGIONAL SNAPSHOT: ASIA PACIFIC IS EXPECTED TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD144
FIGURE 42FUEL CELL MARKET, BY REGION, 2021144
TABLE 87FUEL CELL MARKET, BY REGION, 2016–2019 (MW)145
TABLE 88FUEL CELL MARKET, BY REGION, 2020–2027 (MW)145
TABLE 89FUEL CELL MARKET, BY REGION, 2016–2019 (USD MILLION)145
TABLE 90FUEL CELL MARKET, BY REGION, 2020–2027 (USD MILLION)146
10.2NORTH AMERICA146
FIGURE 43SNAPSHOT: FUEL CELL MARKET IN NORTH AMERICA, 2021–2027147
10.2.1BY TYPE147
TABLE 91FUEL CELL MARKET IN NORTH AMERICA, BY TYPE, 2016–2019 (MW)147
TABLE 92FUEL CELL MARKET IN NORTH AMERICA, BY TYPE, 2020–2027 (MW)148
TABLE 93FUEL CELL MARKET IN NORTH AMERICA, BY TYPE,
2016–2019 (USD THOUSAND)148
TABLE 94FUEL CELL MARKET IN NORTH AMERICA, BY TYPE,
2020–2027 (USD THOUSAND)148
10.2.2BY APPLICATION149
TABLE 95FUEL CELL MARKET IN NORTH AMERICA, BY APPLICATION,
2016–2019 (USD MILLION)149
TABLE 96FUEL CELL MARKET IN NORTH AMERICA, BY APPLICATION,
2020–2027 (USD MILLION)149
TABLE 97FUEL CELL MARKET IN NORTH AMERICA, BY STATIONARY APPLICATION, 2016–2019 (USD MILLION)149
TABLE 98FUEL CELL MARKET IN NORTH AMERICA, BY STATIONARY APPLICATION, 2020–2027 (USD MILLION)150
TABLE 99FUEL CELL MARKET IN NORTH AMERICA, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)150
TABLE 100FUEL CELL MARKET IN NORTH AMERICA, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)150
10.2.3BY END USER151
TABLE 101FUEL CELL MARKET IN NORTH AMERICA, BY END USER,
2016–2019 (USD MILLION)151
TABLE 102FUEL CELL MARKET IN NORTH AMERICA, BY END USER,
2020–2027 (USD MILLION)151
10.2.4BY SIZE151
TABLE 103FUEL CELL MARKET IN NORTH AMERICA, BY SIZE,
2020–2027 (USD MILLION)151
10.2.5BY COUNTRY152
TABLE 104FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (MW)152
TABLE 105FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2027 (MW)152
TABLE 106FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY,
2016–2019 (USD MILLION)152
TABLE 107FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY,
2020–2027 (USD MILLION)152
10.2.5.1US153
10.2.5.1.1State-level incentives for fuel cell programs to accelerate the regional market153
TABLE 108FUEL CELL MARKET IN US, BY TYPE, 2016–2019 (MW)153
TABLE 109FUEL CELL MARKET IN US, BY TYPE, 2020–2027 (MW)154
TABLE 110FUEL CELL MARKET IN US, BY TYPE, 2016–2019 (USD THOUSAND)154
TABLE 111FUEL CELL MARKET IN US, BY TYPE, 2020–2027 (USD THOUSAND)154
TABLE 112FUEL CELL MARKET IN US, BY SIZE, 2020–2027 (USD MILLION)155
TABLE 113FUEL CELL MARKET IN US, BY END USER, 2016–2019 (USD MILLION)155
TABLE 114FUEL CELL MARKET IN US, BY END USER, 2020–2027 (USD MILLION)155
TABLE 115FUEL CELL MARKET IN US, BY APPLICATION, 2016–2019 (USD MILLION)156
TABLE 116FUEL CELL MARKET IN US, BY APPLICATION, 2020–2027 (USD MILLION)156
10.2.5.2Canada156
10.2.5.2.1Grants from the government for fuel cell program to boost the market growth156
TABLE 117FUEL CELL MARKET IN CANADA, BY TYPE, 2016–2019 (KW)157
TABLE 118FUEL CELL MARKET IN CANADA, BY TYPE, 2020–2027 (KW)157
TABLE 119FUEL CELL MARKET IN CANADA, BY TYPE, 2016–2019 (USD THOUSAND)157
TABLE 120FUEL CELL MARKET IN CANADA, BY TYPE, 2020–2027 (USD THOUSAND)158
TABLE 121FUEL CELL MARKET IN CANADA, BY SIZE, 2020–2027 (USD MILLION)158
TABLE 122FUEL CELL MARKET IN CANADA, BY END USER, 2016–2019 (USD MILLION)158
TABLE 123FUEL CELL MARKET IN CANADA, BY END USER, 2020–2027 (USD MILLION)159
TABLE 124FUEL CELL MARKET IN CANADA, BY APPLICATION,
2016–2019 (USD MILLION)159
TABLE 125FUEL CELL MARKET IN CANADA, BY APPLICATION,
2020–2027 (USD MILLION)159
10.3ASIA PACIFIC160
FIGURE 44SNAPSHOT: FUEL CELL MARKET IN ASIA PACIFIC, 2021–2027160
10.3.1BY TYPE161
TABLE 126FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2016–2019 (MW)161
TABLE 127FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2020–2027 (MW)161
TABLE 128FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2016–2019 (USD MILLION)161
TABLE 129FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2020–2027 (USD MILLION)162
10.3.2BY APPLICATION162
TABLE 130FUEL CELL MARKET IN ASIA PACIFIC, BY APPLICATION,
2016–2019 (USD MILLION)162
TABLE 131FUEL CELL MARKET IN ASIA PACIFIC, BY APPLICATION,
2020–2027 (USD MILLION)162
TABLE 132FUEL CELL MARKET IN ASIA PACIFIC, BY STATIONARY APPLICATION,
2016–2019 (USD MILLION)163
TABLE 133FUEL CELL MARKET IN ASIA PACIFIC, BY STATIONARY APPLICATION,
2020–2027 (USD MILLION)163
TABLE 134FUEL CELL MARKET IN ASIA PACIFIC, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)163
TABLE 135FUEL CELL MARKET IN ASIA PACIFIC, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)164
10.3.3BY END USER164
TABLE 136FUEL CELL MARKET IN ASIA PACIFIC, BY END USER,
2016–2019 (USD MILLION)164
TABLE 137FUEL CELL MARKET IN ASIA PACIFIC, BY END USER,
2020–2027 (USD MILLION)164
10.3.4BY SIZE165
TABLE 138FUEL CELL MARKET IN ASIA PACIFIC, BY SIZE, 2020–2027 (USD MILLION)165
10.3.5BY COUNTRY165
TABLE 139FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY, 2016–2019 (MW)165
TABLE 140FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (MW)165
TABLE 141FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY,
2016–2019 (USD MILLION)166
TABLE 142FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY,
2020–2027 (USD MILLION)166
10.3.5.1China166
10.3.5.1.1Increasing investments in fuel cell based public transport to boost the demand for fuel cell166
TABLE 143FUEL CELL MARKET IN CHINA, BY TYPE, 2016–2019 (MW)167
TABLE 144FUEL CELL MARKET IN CHINA, BY TYPE, 2020–2027 (MW)167
TABLE 145FUEL CELL MARKET IN CHINA, BY TYPE, 2016–2019 (USD THOUSAND)167
TABLE 146FUEL CELL MARKET IN CHINA, BY TYPE, 2020–2027 (USD THOUSAND)168
TABLE 147FUEL CELL MARKET IN CHINA, BY SIZE, 2020–2027 (USD MILLION)168
TABLE 148FUEL CELL MARKET IN CHINA, BY END USER, 2016–2019 (USD MILLION)168
TABLE 149FUEL CELL MARKET IN CHINA, BY END USER, 2020–2027 (USD MILLION)169
TABLE 150FUEL CELL MARKET IN CHINA, BY APPLICATION, 2016–2019 (USD MILLION)169
TABLE 151FUEL CELL MARKET IN CHINA, BY APPLICATION, 2020–2027 (USD MILLION)169
10.3.5.2Japan170
10.3.5.2.1Rise in demand for fuel cells in the residential sector to boost the market growth170
TABLE 152FUEL CELL MARKET IN JAPAN, BY TYPE, 2016–2019 (KW)170
TABLE 153FUEL CELL MARKET IN JAPAN, BY TYPE, 2020–2027 (KW)171
TABLE 154FUEL CELL MARKET IN JAPAN, BY TYPE, 2016–2019 (USD THOUSAND)171
TABLE 155FUEL CELL MARKET IN JAPAN, BY TYPE, 2020–2027 (USD THOUSAND)171
TABLE 156FUEL CELL MARKET IN JAPAN, BY SIZE, 2020–2027 (USD MILLION)172
TABLE 157FUEL CELL MARKET IN JAPAN, BY END USER, 2016–2019 (USD MILLION)172
TABLE 158FUEL CELL MARKET IN JAPAN, BY END USER, 2020–2027 (USD MILLION)172
TABLE 159FUEL CELL MARKET IN JAPAN, BY APPLICATION, 2016–2019 (USD MILLION)173
TABLE 160FUEL CELL MARKET IN JAPAN, BY APPLICATION, 2020–2027 (USD MILLION)173
10.3.5.3South Korea173
10.3.5.3.1Mandates to decarbonize the energy sector expected to increase the demand for fuel cells173
TABLE 161FUEL CELL MARKET IN SOUTH KOREA, BY TYPE, 2016–2019 (KW)174
TABLE 162FUEL CELL MARKET IN SOUTH KOREA, BY TYPE, 2020–2027 (KW)174
TABLE 163FUEL CELL MARKET IN SOUTH KOREA, BY TYPE,
2016–2019 (USD THOUSAND)175
TABLE 164FUEL CELL MARKET IN SOUTH KOREA, BY TYPE,
2020–2027 (USD THOUSAND)175
TABLE 165FUEL CELL MARKET IN SOUTH KOREA, BY SIZE, 2020–2027 (USD MILLION)175
TABLE 166FUEL CELL MARKET IN SOUTH KOREA, BY END USER,
2016–2019 (USD MILLION)176
TABLE 167FUEL CELL MARKET IN SOUTH KOREA, BY END USER,
2020–2027 (USD MILLION)176
TABLE 168FUEL CELL MARKET IN SOUTH KOREA, BY APPLICATION,
2016–2019 (USD MILLION)176
TABLE 169FUEL CELL MARKET IN SOUTH KOREA, BY APPLICATION,
2020–2027 (USD MILLION)177
10.3.5.4Rest of Asia Pacific177
TABLE 170FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2016–2019 (KW)178
TABLE 171FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2020–2027 (KW)178
TABLE 172FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE,
2016–2019 (USD THOUSAND)178
TABLE 173FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE,
2020–2027 (USD THOUSAND)179
TABLE 174FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY SIZE,
2020–2027 (USD MILLION)179
TABLE 175FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY END USER,
2016–2019 (USD MILLION)179
TABLE 176FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY END USER,
2020–2027 (USD MILLION)180
TABLE 177FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY APPLICATION,
2016–2019 (USD MILLION)180
TABLE 178FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY APPLICATION,
2020–2027 (USD MILLION)180
10.4EUROPE181
10.4.1BY TYPE181
TABLE 179FUEL CELL MARKET IN EUROPE, BY TYPE, 2016–2019 (KW)181
TABLE 180FUEL CELL MARKET IN EUROPE, BY TYPE, 2020–2027 (KW)182
TABLE 181FUEL CELL MARKET IN EUROPE, BY TYPE, 2016–2019 (USD THOUSAND)182
TABLE 182FUEL CELL MARKET IN EUROPE, BY TYPE, 2020–2027 (USD THOUSAND)182
10.4.2BY APPLICATION183
TABLE 183FUEL CELL MARKET IN EUROPE, BY APPLICATION,
2016–2019 (USD MILLION)183
TABLE 184FUEL CELL MARKET IN EUROPE, BY APPLICATION,
2020–2027 (USD MILLION)183
TABLE 185FUEL CELL MARKET IN EUROPE, BY STATIONARY APPLICATION,
2016–2019 (USD MILLION)183
TABLE 186FUEL CELL MARKET IN EUROPE, BY STATIONARY APPLICATION,
2020–2027 (USD MILLION)184
TABLE 187FUEL CELL MARKET IN EUROPE, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)184
TABLE 188FUEL CELL MARKET IN EUROPE, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)184
10.4.3BY END USER185
TABLE 189FUEL CELL MARKET IN EUROPE, BY END USER, 2016–2019 (USD MILLION)185
TABLE 190FUEL CELL MARKET IN EUROPE, BY END USER, 2020–2027 (USD MILLION)185
10.4.4BY SIZE185
TABLE 191FUEL CELL MARKET IN EUROPE, BY SIZE, 2020–2027 (USD MILLION)185
10.4.5BY COUNTRY186
TABLE 192FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2016–2019 (MW)186
TABLE 193FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2020–2027 (MW)186
TABLE 194FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)186
TABLE 195FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2020–2027 (USD MILLION)187
10.4.5.1Germany187
10.4.5.1.1Focus on emission-free transportation to drive
the market growth187
TABLE 196FUEL CELL MARKET IN GERMANY, BY TYPE, 2016–2019 (KW)188
TABLE 197FUEL CELL MARKET IN GERMANY, BY TYPE, 2020–2027 (KW)188
TABLE 198FUEL CELL MARKET IN GERMANY, BY TYPE, 2016–2019 (USD THOUSAND)188
TABLE 199FUEL CELL MARKET IN GERMANY, BY TYPE, 2020–2027 (USD THOUSAND)189
TABLE 200FUEL CELL MARKET IN GERMANY, BY SIZE, 2020–2027 (USD MILLION)189
TABLE 201FUEL CELL MARKET IN GERMANY, BY END USER, 2016–2019 (USD MILLION)189
TABLE 202FUEL CELL MARKET IN GERMANY, BY END USER, 2020–2027 (USD MILLION)190
TABLE 203FUEL CELL MARKET IN GERMANY, BY APPLICATION,
2016–2019 (USD MILLION)190
TABLE 204FUEL CELL MARKET IN GERMANY, BY APPLICATION,
2020–2027 (USD MILLION)190
10.4.5.2UK191
10.4.5.2.1Adoption of fuel cell technologies to help the UK to
reduce GHG emissions191
TABLE 205FUEL CELL MARKET IN UK, BY TYPE, 2016–2019 (KW)191
TABLE 206FUEL CELL MARKET IN UK, BY TYPE, 2020–2027 (KW)192
TABLE 207FUEL CELL MARKET IN UK, BY TYPE, 2016–2019 (USD THOUSAND)192
TABLE 208FUEL CELL MARKET IN UK, BY TYPE, 2020–2027 (USD THOUSAND)192
TABLE 209FUEL CELL MARKET IN UK, BY SIZE, 2020–2027 (USD MILLION)193
TABLE 210FUEL CELL MARKET IN UK, BY END USER, 2016–2019 (USD MILLION)193
TABLE 211FUEL CELL MARKET IN UK, BY END USER, 2020–2027 (USD MILLION)193
TABLE 212FUEL CELL MARKET IN UK, BY APPLICATION, 2016–2019 (USD MILLION)194
TABLE 213FUEL CELL MARKET IN UK, BY APPLICATION, 2020–2027 (USD MILLION)194
10.4.6ITALY194
10.4.6.1Increased focus on energy transition to drive the growth of the fuel cell market in Italy194
TABLE 214FUEL CELL MARKET IN ITALY, BY TYPE, 2016–2019 (KW)195
TABLE 215FUEL CELL MARKET IN ITALY, BY TYPE, 2020–2027 (KW)195
TABLE 216FUEL CELL MARKET IN ITALY, BY TYPE, 2016–2019 (USD THOUSAND)195
TABLE 217FUEL CELL MARKET IN ITALY, BY TYPE, 2020–2027 (USD THOUSAND)196
TABLE 218FUEL CELL MARKET IN ITALY, BY SIZE, 2020–2027 (USD THOUSAND)196
TABLE 219FUEL CELL MARKET IN ITALY, BY END USER, 2016–2019 (USD THOUSAND)196
TABLE 220FUEL CELL MARKET IN ITALY, BY END USER, 2020–2027 (USD THOUSAND)197
TABLE 221FUEL CELL MARKET IN ITALY, BY APPLICATION,
2016–2019 (USD THOUSAND)197
TABLE 222FUEL CELL MARKET IN ITALY, BY APPLICATION,
2020–2027 (USD THOUSAND)197
10.4.6.2Rest of Europe198
TABLE 223FUEL CELL MARKET IN REST OF EUROPE, BY TYPE, 2016–2019 (KW)198
TABLE 224FUEL CELL MARKET IN REST OF EUROPE, BY TYPE, 2020–2027 (KW)199
TABLE 225FUEL CELL MARKET IN REST OF EUROPE, BY TYPE,
2016–2019 (USD THOUSAND)199
TABLE 226FUEL CELL MARKET IN REST OF EUROPE, BY TYPE,
2020–2027 (USD THOUSAND)199
TABLE 227FUEL CELL MARKET IN REST OF EUROPE, BY SIZE,
2020–2027 (USD THOUSAND)200
TABLE 228FUEL CELL MARKET IN REST OF EUROPE, BY END USER,
2016–2019 (USD THOUSAND)200
TABLE 229FUEL CELL MARKET IN REST OF EUROPE, BY END USER,
2020–2027 (USD THOUSAND)200
TABLE 230FUEL CELL MARKET IN REST OF EUROPE, BY APPLICATION, <
“Stationary, The largest segment of fuel cell market, by application”
In the stationary application of fuel cells, the output required can be as high as multi megawatts (MW) or as low as less than 1 kW. Fuel cells with larger capacities are larger in size as well. These fuel cells can further be used for capacity addition and carbon capturing operations in a thermal power plant. Thus, the use of fuel cells consequently helps in reducing the carbon footprint in the residential, commercial, and industrial sectors.
“Transportation: The largest segment of fuel cell market, by end user”
The rising demand for personal mobility and increased concerns for low emission vehicles are driving the growth of the transportation end user. Several FCEV models, such as the Toyota Mirai, Honda Clarity, Mercedes Benz GLC FCEV, Nissan X-Trail FCEV, and Riversimple RASA are available in the market. Realizing the significant potential in the passenger light duty market, various companies are planning to launch new models in the coming years.
“Asia Pacific: The largest region in the fuel cell market”
Asia Pacific is one of the leading markets which is continuously shifting its focus towards green and renewable technologies to meet the targets set by the governments for reducing GHG emissions. Furthermore, countries such as Japan and South Korea are increasing their investments to adopt fuel cell technology.
Breakdown of Primaries:
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
•By Company Type– Tier 1- 65%, Tier 2- 24% Tier 3 - 11%
•By Designation— C level - 30%, Managers & Other Level - 70%
•By Region— North America - 27%, Europe - 20%, Asia Pacific - 53%
The fuel cell market is dominated by a few globally established players such as Bloom Energy (US), Aisin Corporation (Japan), Doosan Fuel Cell Co., Ltd. (South Korea), KYOCERA Corporation (Japan), Plug Power Inc. (US), Ceres (UK), Cummins Inc. (US), PowerCell Sweden AB (Sweden), TOSHIBA CORPORATION (Japan), Ballard Power Systems (Canada), SFC Energy (Germany), Mitsubishi Heavy Industries, Ltd (Japan), AFC Energy PLC (UK), ElringKlinger AG (Germany), Fuji Electric Co., Ltd. (Japan), Proton Motor Fuel Cell GmbH (UK), Adaptive Energy (US), Adelan (UK), Special Power Sources (US), ZTEK Corporation (US), SOLIDpower S.p.A. (Italy), Watt Fuel Cell Corporation (US), AVL List GmbH (Austria), Altergy (US), MICROrganic Technologies (US), Nedstack Fuel Cell Technology BV (Netharlands), Intelligent Energy Limited (UK), Horizon Fuel cell Technologies (Singapore), Nuvera Fuel Cells, LLC (US), and PowerUP Energy Technologies (Estonia).
Study Coverage:
The report segments the fuel cell market and forecasts its size, by volume and value, based on region (Asia Pacific, Europe, North America, and RoW), type (PEMFC, SOFC, PAFC, AFC, MFC, and DMFC), application (Stationary, Portable, and Fuel Cell Vehicles), size (Small scale and Large scale), end user (Residential, Commercial & Industrial, Transportation, Data Centers, Military & Defense, and Utilities & Government/Municipal Institutes).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the fuel cell market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key benefits of buying the report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market
1INTRODUCTION37
1.1STUDY OBJECTIVES37
1.2DEFINITION37
1.3INCLUSIONS AND EXCLUSIONS38
1.3.1FUEL CELL MARKET, BY APPLICATION38
1.3.2FUEL CELL MARKET, BY END USER38
1.4MARKET SCOPE39
1.4.1FUEL CELL MARKET SEGMENTATION39
1.4.2REGIONAL SCOPE39
1.5YEARS CONSIDERED40
1.6CURRENCY40
1.7LIMITATIONS40
1.8STAKEHOLDERS41
1.9SUMMARY OF CHANGES41
2RESEARCH METHODOLOGY43
2.1RESEARCH DATA43
FIGURE 1FUEL CELL MARKET: RESEARCH DESIGN44
2.2MARKET BREAKDOWN AND DATA TRIANGULATION45
FIGURE 2DATA TRIANGULATION METHODOLOGY45
2.2.1SECONDARY DATA46
2.2.2PRIMARY DATA47
2.2.2.1Key insights from primary sources47
2.2.2.2Breakdown of primaries48
2.3MARKET SIZE ESTIMATION49
2.3.1BOTTOM-UP APPROACH49
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH49
2.3.2TOP-DOWN APPROACH50
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH50
2.4DEMAND-SIDE METRICS51
FIGURE 5MAIN METRICS CONSIDERED FOR ANALYZING DEMAND FOR FUEL CELLS51
2.4.1REGIONAL ANALYSIS51
2.4.1.1Country analysis51
2.4.2DEMAND-SIDE KEY ASSUMPTIONS52
2.4.3DEMAND-SIDE CALCULATION52
2.5SUPPLY-SIDE ANALYSIS53
FIGURE 6KEY METRICS CONSIDERED FOR ASSESSING THE SUPPLY OF FUEL CELLS53
FIGURE 7FUEL CELL MARKET: SUPPLY-SIDE ANALYSIS53
2.5.1CALCULATIONS FOR SUPPLY-SIDE54
2.5.2ASSUMPTIONS FOR SUPPLY-SIDE54
FIGURE 8FUEL CELL MARKET: MARKER SHARE ANALYSIS, 202154
2.6FORECAST55
3EXECUTIVE SUMMARY56
TABLE 1FUEL CELL MARKET SNAPSHOT56
FIGURE 9ASIA PACIFIC CONTRIBUTED THE LARGEST SHARE TO
FUEL CELL MARKET IN 202157
FIGURE 10SOFC SEGMENT EXPECTED TO LEAD FUEL CELL MARKET, BY TYPE, IN 202758
FIGURE 11STATIONARY SEGMENT EXPECTED TO HOLD THE LARGEST SHARE OF
THE FUEL CELL MARKET, BY APPLICATION, IN 202758
FIGURE 12TRANSPORTATION SEGMENT EXPECTED TO DOMINATE THE FUEL CELL MARKET, BY END USER, IN 202759
FIGURE 13SMALL SCALE SEGMENT EXPECTED TO HOLD A LARGER SHARE OF
THE FUEL CELL MARKET, BY SIZE, IN 202760
4PREMIUM INSIGHTS61
4.1ATTRACTIVE OPPORTUNITIES IN THE FUEL CELL MARKET61
FIGURE 14INCREASING NEED FOR CLEAN POWER GENERATION TO BOOST MARKET GROWTH BETWEEN 2022 AND 202761
4.2FUEL CELL MARKET, BY REGION61
FIGURE 15ASIA PACIFIC FUEL CELL MARKET TO WITNESS HIGHEST GROWTH
DURING FORECAST PERIOD61
4.3ASIA PACIFIC FUEL CELL MARKET, BY END-USER INDUSTRY AND COUNTRY62
FIGURE 16THE TRANSPORTATION SECTOR AND CHINA CONTRIBUTED THE LARGEST SHARES TO THE FUEL CELL MARKET IN ASIA PACIFIC IN 202162
4.4FUEL CELL MARKET, BY TYPE62
FIGURE 17SOFC SEGMENT EXPECTED TO ACCOUNT FOR THE LARGEST MARKET SHARE, BY TYPE, IN 202762
4.5FUEL CELL MARKET, BY APPLICATION63
FIGURE 18STATIONARY SEGMENT TO ACCOUNT FOR THE LARGEST SHARE OF
THE FUEL CELL MARKET, BY APPLICATION, IN 202763
4.6FUEL CELL MARKET, BY END USER63
FIGURE 19TRANSPORTATION SEGMENT TO DOMINATE THE FUEL CELL MARKET,
BY END USER, IN 202763
4.7FUEL CELL MARKET, BY SIZE64
FIGURE 20SMALL SCALE SEGMENT TO DOMINATE THE FUEL CELL MARKET,
BY SIZE, IN 202764
5MARKET OVERVIEW65
5.1INTRODUCTION65
5.2COVID-19 HEALTH ASSESSMENT65
FIGURE 21GLOBAL PROPAGATION OF COVID-1966
FIGURE 22PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES66
5.3COVID-19 ECONOMIC ASSESSMENT67
FIGURE 23COMPARISON OF GDP FOR SELECTED G20 COUNTRIES IN 202067
5.4MARKET DYNAMICS68
FIGURE 24FUEL CELL MARKET: DRIVERS, RESTRAINTS,
OPPORTUNITIES, AND CHALLENGES68
5.4.1DRIVERS68
5.4.1.1Rise in the demand for fuel cell vehicles68
FIGURE 25FUEL CELL ELECTRIC VEHICLES BY MODE AND BY COUNTRY, 202069
5.4.1.2Advancements in research & development on fuel cells and government rebates69
5.4.1.3Stringent emission norms in Europe and North America leading to demand for clean energy sources70
FIGURE 26ENERGY-RELATED CO2 EMISSIONS, 1990–2019 (GT CO2)70
5.4.1.4Faster refueling of FCEVs compared to BEVs70
5.4.2RESTRAINTS71
5.4.2.1High cost of catalysts used in fuel cells71
5.4.2.2Storage issues associated with using hydrogen as fuel71
5.4.2.3High initial investments in hydrogen fueling infrastructure71
5.4.3OPPORTUNITIES71
5.4.3.1Increased efforts to augment hydrogen fueling stations71
FIGURE 27HYDROGEN REFUELLING STATIONS IN THE WORLD, 202072
5.4.3.2Rise in distributed power generation and combined heat & power applications across regions72
TABLE 2COMPARISON OF FUEL CELLS AND OTHER DISTRIBUTED POWER GENERATION SOURCES73
5.4.3.3Increased adoption of fuel cells for backup power in data centers73
5.4.3.4Growing investments in space programs and rising utilization of
fuel cells in the military73
5.4.4CHALLENGES74
5.4.4.1Water management in proton exchange membrane fuel cells74
5.4.4.2High operating temperatures and start-up time of
solid oxide fuel cells74
5.4.4.3High cost of fuel cell vehicles74
5.4.4.4Competition from BEVs and HEVs75
5.5IMPACT OF COVID-1975
5.6TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS75
FIGURE 28REVENUE SHIFT FOR FUEL CELL PROVIDERS75
5.7PRICING ANALYSIS76
5.7.1PEMFC BACKUP SYSTEM PRICING ANALYSIS76
TABLE 3PEM STACK COMPONENT COST SUMMARY-5 KW & 10 KW BACKUP
SYSTEM (USD), 201676
TABLE 4PEM BALANCE OF PLANT (BOP) COST SUMMARY (USD)76
FIGURE 295 KW SYSTEM BOP COST DISTRIBUTION77
FIGURE 3010 KW SYSTEM BOP COST DISTRIBUTION77
5.7.2PEMFC AUTOMOTIVE SYSTEM PRICE ANALYSIS77
TABLE 5COST SUMMARY FOR A 80 KW FUEL CELL VEHICLE (USD), 2018-201577
TABLE 6COST SUMMARY FOR A 160 KW MEDIUM DUTY FUEL CELL
VEHICLE (USD), 2018-202578
5.8VALUE CHAIN ANALYSIS78
FIGURE 31VALUE CHAIN ANALYSIS: FUEL CELL MARKET78
5.8.1COMPONENT MANUFACTURERS79
5.8.2ASSEMBLERS/MANUFACTURERS79
5.8.3DISTRIBUTORS (BUYERS)/END USERS79
5.9TECHNOLOGY ANALYSIS79
5.9.1DIRECT BOROHYDRIDE FUEL CELLS79
5.9.2NANOPARTICLE BASED FUEL CELLS79
5.9.3NON PRECIOUS METAL CATALYST BASED FUEL CELLS80
5.9.4HEXAGONAL PEROVSKITES FOR CERAMIC FUEL CELLS80
5.10TRADE ANALYSIS80
5.10.1EXPORT SCENARIO80
TABLE 7EXPORT SCENARIO FOR HS CODE: 280410, BY COUNTRY, 2019–2021 (USD)80
5.10.2IMPORT SCENARIO81
TABLE 8IMPORT SCENARIO FOR HS CODE: 280410, BY COUNTRY, 2019–2021 (USD)81
5.11KEY CONFERENCES AND EVENTS IN 2022 & 202381
TABLE 9FUEL CELL MARKET: DETAILED LIST OF CONFERENCES & EVENTS81
5.12MARKET MAP84
FIGURE 32MARKET MAP: FUEL CELL MARKET84
TABLE 10FUEL CELL MARKET: ROLE IN ECOSYSTEM85
5.13PATENT ANALYSIS86
5.13.1LIST OF MAJOR PATENTS86
TABLE 11FUEL CELL: INNOVATIONS AND PATENT REGISTRATIONS,
MARCH 2021–MARCH 202286
5.14CASE STUDY ANALYSIS88
5.14.1SAMSUNG HEAVY INDUSTRIES PLANS FOR CLEAN POWER SHIPS UNDER A JOINT DEVELOPMENT AGREEMENT WITH BLOOM ENERGY (JUNE 2020)88
5.14.1.1Problem statement88
5.14.1.2Solution88
5.14.2BALLARD POWER SYSTEMS POWER THE WORLD’S FIRST COMMERCIAL
FUEL CELL POWERED TRAM LINE (JULY 2019)89
5.14.2.1Problem statement89
5.14.2.2Solution89
5.14.3SOUTHERN COMMUNICATION SERVICES EMPLOYS PLUG POWER HYDROGEN FUEL CELLS FOR UNINTERRUPTED POWER SUPPLY (JULY 2017)89
5.14.3.1Problem statement89
5.14.3.2Solution89
5.14.4IKEA USES FUEL CELLS FOR ON-SITE POWER (JANUARY 2017)89
5.14.4.1Problem statement89
5.14.4.2Solution89
5.15FUEL CELL MARKET: REGULATIONS90
5.15.1REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS90
TABLE 12NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS90
TABLE 13EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS90
TABLE 14ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS91
5.15.1.1Regulations related to fuel cells91
5.15.1.1.1Regulatory framework in North America91
5.15.1.1.2Regulatory framework in Europe92
5.15.1.1.3Regulatory framework in Asia Pacific92
5.16PORTER’S FIVE FORCES ANALYSIS93
FIGURE 33PORTER’S FIVE FORCES ANALYSIS FOR THE FUEL CELL MARKET93
TABLE 15FUEL CELL MARKET: PORTER’S FIVE FORCES ANALYSIS94
5.16.1THREAT OF SUBSTITUTES94
5.16.2BARGAINING POWER OF SUPPLIERS94
5.16.3BARGAINING POWER OF BUYERS94
5.16.4THREAT OF NEW ENTRANTS95
5.16.5RIVALRY AMONG EXISTING COMPETITORS95
5.17KEY STAKEHOLDERS & BUYING CRITERIA95
5.17.1KEY STAKEHOLDERS IN BUYING PROCESS95
FIGURE 34INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY TOP END USERS95
TABLE 16INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY TOP END USERS (%)96
5.17.2BUYING CRITERIA96
FIGURE 35KEY BUYING CRITERIA FOR TOP END USERS96
TABLE 17KEY BUYING CRITERIA, BY END USER96
6FUEL CELL MARKET, BY TYPE97
6.1INTRODUCTION98
FIGURE 36FUEL CELL MARKET: BY TYPE, (VOLUME), 202198
TABLE 18FUEL CELL MARKET: BY TYPE, 2016–2019 (MW)98
TABLE 19FUEL CELL MARKET: BY TYPE, 2020–2027 (MW)99
FIGURE 37FUEL CELL MARKET: BY TYPE, (VALUE) 202199
TABLE 20FUEL CELL MARKET: BY TYPE, 2016–2019 (USD MILLION)99
TABLE 21FUEL CELL MARKET: BY TYPE, 2020–2027 (USD MILLION)100
6.2PROTON EXCHANGE MEMBRANE FUEL CELL (PEMFC)100
6.2.1INCREASING DEMAND FOR PEMFC IN FUEL CELL ELECTRIC VEHICLES (FCEVS) TO DRIVE THE MARKET GROWTH100
TABLE 22PROTON EXCHANGE MEMBRANE FUEL CELL MARKET: BY REGION,
2016–2019 (MW)101
TABLE 23PROTON EXCHANGE MEMBRANE FUEL CELL MARKET: BY REGION,
2020–2027 (MW)101
TABLE 24PROTON EXCHANGE MEMBRANE FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)101
TABLE 25PROTON EXCHANGE MEMBRANE FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)102
6.3SOLID OXIDE FUEL CELL (SOFC)102
6.3.1FUEL FLEXIBILITY AND INCREASING DEMAND FOR ENERGY-EFFICIENT POWER GENERATION TO BOOST THE SOFC MARKET GROWTH102
TABLE 26SOLID OXIDE FUEL CELL MARKET: BY REGION, 2016–2019 (MW)102
TABLE 27SOLID OXIDE FUEL CELL MARKET: BY REGION, 2020–2027 (MW)103
TABLE 28SOLID OXIDE FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)103
TABLE 29SOLID OXIDE FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)103
6.4PHOSPHORIC ACID FUEL CELL (PAFC)104
6.4.1ADOPTION OF PAFCS IN STATIONARY APPLICATIONS TO DRIVE
THE MARKET GROWTH104
TABLE 30PHOSPHORIC ACID FUEL CELL MARKET: BY REGION, 2016–2019 (KW)104
TABLE 31PHOSPHORIC ACID FUEL CELL MARKET: BY REGION, 2020–2027 (KW)104
TABLE 32PHOSPHORIC ACID FUEL CELL MARKET: BY REGION,
2016–2019 (USD THOUSAND)105
TABLE 33PHOSPHORIC ACID FUEL CELL MARKET: BY REGION,
2020–2027 (USD THOUSAND)105
6.5ALKALINE FUEL CELL(AFC)105
6.5.1HIGH ADOPTION OF AFCS IN TRANSPORT AND AEROSPACE APPLICATIONS TO ACCELERATE THE MARKET GROWTH105
TABLE 34ALKALINE FUEL CELL MARKET: BY REGION, 2016–2019 (KW)106
TABLE 35ALKALINE FUEL CELL MARKET: BY REGION, 2020–2027 (KW)106
TABLE 36ALKALINE FUEL CELL MARKET: BY REGION, 2016–2019 (USD THOUSAND)106
TABLE 37ALKALINE FUEL CELL MARKET: BY REGION, 2020–2027 (USD THOUSAND)107
6.6MICROBIAL FUEL CELL(MFC)107
6.6.1INCREASED USE OF MICROBES IN FUEL CELL OPERATIONS IN WATER AND WASTEWATER TREATMENT INDUSTRIES TO STIMULATE GROWTH OF
THE MFC SEGMENT107
TABLE 38MICROBIAL FUEL CELL MARKET: BY REGION, 2019–2027 (KW)107
TABLE 39MICROBIAL FUEL CELL MARKET: BY REGION, 2019–2027 (USD THOUSAND)108
6.7DIRECT METHANOL FUEL CELL (DMFC)108
6.7.1ADOPTION OF MCFCS IN LARGE STATIONARY APPLICATIONS TO
DRIVE THE MARKET GROWTH108
TABLE 40DMFC MARKET: BY REGION, 2016–2019 (KW)108
TABLE 41DMFC MARKET: BY REGION, 2020–2027 (KW)109
TABLE 42DMFC MARKET: BY REGION, 2016–2019 (USD THOUSAND)109
TABLE 43DMFC MARKET: BY REGION, 2020–2027 (USD THOUSAND)109
6.8OTHER TYPES OF FUEL CELLS110
6.8.1MOLTEN CARBONATE FUEL CELL (MCFC)110
6.8.2ANION EXCHANGE MEMBRANE FUEL CELL (AEMFC)110
7FUEL CELL MARKET, BY APPLICATION111
7.1INTRODUCTION112
FIGURE 38FUEL CELL MARKET, BY APPLICATION, 2021112
TABLE 44FUEL CELL MARKET: BY APPLICATION, 2016–2019 (USD MILLION)112
TABLE 45FUEL CELL MARKET: BY APPLICATION, 2020–2027 (USD MILLION)113
7.2PORTABLE113
7.2.1ADOPTION OF PORTABLE FUEL CELLS IN THE MILITARY AND DEFENSE SECTORS FOR LIGHTWEIGHT AXULLIARY POWER UNITS TO BOOST THE GROWTH OF THE SEGMENT113
TABLE 46PORTABLE FUEL CELL MARKET: BY REGION, 2016–2019 (USD THOUSAND)114
TABLE 47PORTABLE FUEL CELL MARKET: BY REGION, 2020–2027 (USD THOUSAND)114
7.3STATIONARY115
7.3.1INCREASING ADOPTION OF SOLID OXIDE FUEL CELLS IN THE STATIONARY APPLICATIONS TO BOOST MARKET GROWTH115
TABLE 48STATIONARY FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)116
TABLE 49STATIONARY FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)116
TABLE 50STATIONARY FUEL CELL MARKET: BY APPLICATION,
2016–2019 (USD MILLION)116
TABLE 51STATIONARY FUEL CELL MARKET: BY APPLICATION,
2020–2027 (USD MILLION)116
7.3.2PRIMARY117
7.3.2.1Increasing utilization of fuel cells in North American utilities expected to fuel the growth of the primary segment117
TABLE 52PRIMARY APPLICATION FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)117
TABLE 53PRIMARY APPLICATION FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)117
7.3.3BACK-UP118
7.3.3.1Adoption of fuel cells for back-up power generation in data centers during grid outages to boost the market growth118
TABLE 54BACK-UP APPLICATION FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)118
TABLE 55BACK-UP APPLICATION FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)119
7.3.4COMBINED HEAT & POWER (CHP)119
7.3.4.1Adoption of residential combined heat & power fuel cell units in Europe and Japan expected to drive the growth of the segment119
TABLE 56COMBINED HEAT & POWER APPLICATION FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)119
TABLE 57COMBINED HEAT & POWER APPLICATION FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)120
7.4FUEL CELL VEHICLES120
7.4.1DECARBONIZING THE TRANSPORTATION SECTOR TO DRIVE MARKET GROWTH120
TABLE 58FUEL CELL VEHICLES MARKET: BY REGION, 2016–2019 (USD MILLION)122
TABLE 59FUEL CELL VEHICLES MARKET: BY REGION, 2020–2027 (USD MILLION)122
TABLE 60FUEL CELL VEHICLES MARKET: BY APPLICATION, 2016–2019 (USD MILLION)122
TABLE 61FUEL CELL VEHICLES MARKET: BY APPLICATION, 2020–2027 (USD MILLION)123
7.4.2PASSENGER LIGHT DUTY FUEL CELL VEHICLES123
7.4.2.1Increased demand of personal mobility and stringent regulations on emissions to drive the segment growth123
TABLE 62PASSENGER LIGHT DUTY FUEL CELL VEHICLES MARKET: BY REGION,
2016–2019 (USD MILLION)124
TABLE 63PASSENGER LIGHT DUTY FUEL CELL VEHICLES: BY REGION,
2020–2027 (USD MILLION)124
7.4.3FUEL CELL BUSES125
7.4.3.1Increasing adoption of fuel cell buses for public transport in
China to increase the growth of the segment125
TABLE 64FUEL CELL BUSES MARKET: BY REGION, 2016–2019 (USD MILLION)125
TABLE 65FUEL CELL BUSES MARKET: BY REGION, 2020–2027 (USD MILLION)125
7.4.4FUEL CELL TRUCKS126
7.4.4.1Adoption of fuel cell trucks for long-range transportation to
drive the segment126
TABLE 66FUEL CELL TRUCKS MARKET: BY REGION, 2016–2019 (USD MILLION)126
TABLE 67FUEL CELL TRUCKS MARKET: BY REGION, 2020–2027 (USD MILLION)126
7.4.5OTHERS127
7.4.5.1Increasing focus on developing fuel cells for marine applications to drive the growth of the segment127
TABLE 68OTHER FUEL CELL VEHICLES MARKET: BY REGION,
2016–2019 (USD MILLION)128
TABLE 69OTHER FUEL CELL VEHICLES MARKET: BY REGION,
2020–2027 (USD MILLION)128
8FUEL CELL MARKET, BY END USER129
8.1INTRODUCTION130
FIGURE 39FUEL CELL MARKET: BY END USER, 2021130
TABLE 70FUEL CELL MARKET: BY END USER, 2016–2019 (USD MILLION)130
TABLE 71FUEL CELL MARKET BY END USER, 2020–2027 (USD MILLION)131
8.2RESIDENTIAL131
8.2.1RISING NEED FOR ENERGY REDUCTION AND ENERGY EFFICIENCY IN RESIDENTIAL AREAS IS EXPECTED TO DRIVE THE GROWTH OF THE RESIDENTIAL SEGMENT131
TABLE 72RESIDENTIAL FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)132
TABLE 73RESIDENTIAL FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)132
8.3COMMERCIAL & INDUSTRIAL132
8.3.1DECARBONIZING GOALS AND STRINGENT LAWS BY REGIONAL AUTHORITIES TO DRIVE MARKET GROWTH132
TABLE 74COMMERCIAL & INDUSTRIAL FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)133
TABLE 75COMMERCIAL & INDUSTRIAL FUEL CELL, BY REGION,
2020–2027 (USD MILLION)133
8.4TRANSPORTATION134
8.4.1PORTABLE SOLUTIONS ARE WELL SUITED FOR MILITARY & ORGANIZATIONS134
TABLE 76TRANSPORTATION FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)134
TABLE 77TRANSPORTATION FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)135
8.5DATA CENTERS135
8.5.1GROWING REQUIREMENT FOR BACKUP POWER IN DATA CENTERS DURING OUTAGES EXPECTED TO FUEL THE GROWTH OF THE DATA CENTERS SEGMENT135
TABLE 78DATA CENTERS FUEL CELL MARKET: BY REGION, 2016–2019 (USD MILLION)136
TABLE 79DATA CENTERS: FUEL CELL MARKET: BY REGION, 2020–2027 (USD MILLION)136
8.6MILITARY & DEFENSE136
8.6.1PORTABLE SOLUTIONS ARE WELL SUITED FOR MILITARY & ORGANIZATIONS WHICH DRIVES THE MARKET GROWTH136
TABLE 80MILITARY & DEFENSE FUEL CELL MARKET: BY REGION,
2016–2019 (USD MILLION)137
TABLE 81MILITARY & DEFENSE FUEL CELL MARKET: BY REGION,
2020–2027 (USD MILLION)137
8.7UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES138
8.7.1STRINGENT LAWS BY REGIONAL AUTHORITIES AND DECARBONIZING GOALS TO DRIVE MARKET GROWTH138
TABLE 82UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES FUEL CELL MARKET:
BY REGION, 2016–2019 (USD THOUSAND)138
TABLE 83UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES FUEL CELL MARKET:
BY REGION, 2020–2027 (USD THOUSAND)138
9FUEL CELL MARKET, BY SIZE139
9.1INTRODUCTION140
FIGURE 40FUEL CELL MARKET, BY SIZE, 2021140
TABLE 84FUEL CELL MARKET: BY SIZE, 2020–2027 (USD MILLION)140
9.2SMALL SCALE (UP TO 200 KW)140
9.2.1DIVERSE POWER OUTPUT MAKES SMALL SCALE CELLS SUITABLE FOR
ALL TYPES OF END USERS140
TABLE 85SMALL SCALE: FUEL CELL MARKET, BY REGION, 2020–2027 (USD MILLION)141
9.3LARGE SCALE (ABOVE 200 KW)141
9.3.1ROBUST ENERGY & CLIMATE POLICIES AND THE PRESENCE OF DIVERSE END USERS ARE THE POTENTIAL DRIVERS FOR THE MARKET141
TABLE 86LARGE SCALE: FUEL CELL MARKET: BY REGION,
2020–2027 (USD THOUSAND)142
10GEOGRAPHIC ANALYSIS143
10.1INTRODUCTION144
FIGURE 41REGIONAL SNAPSHOT: ASIA PACIFIC IS EXPECTED TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD144
FIGURE 42FUEL CELL MARKET, BY REGION, 2021144
TABLE 87FUEL CELL MARKET, BY REGION, 2016–2019 (MW)145
TABLE 88FUEL CELL MARKET, BY REGION, 2020–2027 (MW)145
TABLE 89FUEL CELL MARKET, BY REGION, 2016–2019 (USD MILLION)145
TABLE 90FUEL CELL MARKET, BY REGION, 2020–2027 (USD MILLION)146
10.2NORTH AMERICA146
FIGURE 43SNAPSHOT: FUEL CELL MARKET IN NORTH AMERICA, 2021–2027147
10.2.1BY TYPE147
TABLE 91FUEL CELL MARKET IN NORTH AMERICA, BY TYPE, 2016–2019 (MW)147
TABLE 92FUEL CELL MARKET IN NORTH AMERICA, BY TYPE, 2020–2027 (MW)148
TABLE 93FUEL CELL MARKET IN NORTH AMERICA, BY TYPE,
2016–2019 (USD THOUSAND)148
TABLE 94FUEL CELL MARKET IN NORTH AMERICA, BY TYPE,
2020–2027 (USD THOUSAND)148
10.2.2BY APPLICATION149
TABLE 95FUEL CELL MARKET IN NORTH AMERICA, BY APPLICATION,
2016–2019 (USD MILLION)149
TABLE 96FUEL CELL MARKET IN NORTH AMERICA, BY APPLICATION,
2020–2027 (USD MILLION)149
TABLE 97FUEL CELL MARKET IN NORTH AMERICA, BY STATIONARY APPLICATION, 2016–2019 (USD MILLION)149
TABLE 98FUEL CELL MARKET IN NORTH AMERICA, BY STATIONARY APPLICATION, 2020–2027 (USD MILLION)150
TABLE 99FUEL CELL MARKET IN NORTH AMERICA, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)150
TABLE 100FUEL CELL MARKET IN NORTH AMERICA, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)150
10.2.3BY END USER151
TABLE 101FUEL CELL MARKET IN NORTH AMERICA, BY END USER,
2016–2019 (USD MILLION)151
TABLE 102FUEL CELL MARKET IN NORTH AMERICA, BY END USER,
2020–2027 (USD MILLION)151
10.2.4BY SIZE151
TABLE 103FUEL CELL MARKET IN NORTH AMERICA, BY SIZE,
2020–2027 (USD MILLION)151
10.2.5BY COUNTRY152
TABLE 104FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (MW)152
TABLE 105FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2027 (MW)152
TABLE 106FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY,
2016–2019 (USD MILLION)152
TABLE 107FUEL CELL MARKET IN NORTH AMERICA, BY COUNTRY,
2020–2027 (USD MILLION)152
10.2.5.1US153
10.2.5.1.1State-level incentives for fuel cell programs to accelerate the regional market153
TABLE 108FUEL CELL MARKET IN US, BY TYPE, 2016–2019 (MW)153
TABLE 109FUEL CELL MARKET IN US, BY TYPE, 2020–2027 (MW)154
TABLE 110FUEL CELL MARKET IN US, BY TYPE, 2016–2019 (USD THOUSAND)154
TABLE 111FUEL CELL MARKET IN US, BY TYPE, 2020–2027 (USD THOUSAND)154
TABLE 112FUEL CELL MARKET IN US, BY SIZE, 2020–2027 (USD MILLION)155
TABLE 113FUEL CELL MARKET IN US, BY END USER, 2016–2019 (USD MILLION)155
TABLE 114FUEL CELL MARKET IN US, BY END USER, 2020–2027 (USD MILLION)155
TABLE 115FUEL CELL MARKET IN US, BY APPLICATION, 2016–2019 (USD MILLION)156
TABLE 116FUEL CELL MARKET IN US, BY APPLICATION, 2020–2027 (USD MILLION)156
10.2.5.2Canada156
10.2.5.2.1Grants from the government for fuel cell program to boost the market growth156
TABLE 117FUEL CELL MARKET IN CANADA, BY TYPE, 2016–2019 (KW)157
TABLE 118FUEL CELL MARKET IN CANADA, BY TYPE, 2020–2027 (KW)157
TABLE 119FUEL CELL MARKET IN CANADA, BY TYPE, 2016–2019 (USD THOUSAND)157
TABLE 120FUEL CELL MARKET IN CANADA, BY TYPE, 2020–2027 (USD THOUSAND)158
TABLE 121FUEL CELL MARKET IN CANADA, BY SIZE, 2020–2027 (USD MILLION)158
TABLE 122FUEL CELL MARKET IN CANADA, BY END USER, 2016–2019 (USD MILLION)158
TABLE 123FUEL CELL MARKET IN CANADA, BY END USER, 2020–2027 (USD MILLION)159
TABLE 124FUEL CELL MARKET IN CANADA, BY APPLICATION,
2016–2019 (USD MILLION)159
TABLE 125FUEL CELL MARKET IN CANADA, BY APPLICATION,
2020–2027 (USD MILLION)159
10.3ASIA PACIFIC160
FIGURE 44SNAPSHOT: FUEL CELL MARKET IN ASIA PACIFIC, 2021–2027160
10.3.1BY TYPE161
TABLE 126FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2016–2019 (MW)161
TABLE 127FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2020–2027 (MW)161
TABLE 128FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2016–2019 (USD MILLION)161
TABLE 129FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 2020–2027 (USD MILLION)162
10.3.2BY APPLICATION162
TABLE 130FUEL CELL MARKET IN ASIA PACIFIC, BY APPLICATION,
2016–2019 (USD MILLION)162
TABLE 131FUEL CELL MARKET IN ASIA PACIFIC, BY APPLICATION,
2020–2027 (USD MILLION)162
TABLE 132FUEL CELL MARKET IN ASIA PACIFIC, BY STATIONARY APPLICATION,
2016–2019 (USD MILLION)163
TABLE 133FUEL CELL MARKET IN ASIA PACIFIC, BY STATIONARY APPLICATION,
2020–2027 (USD MILLION)163
TABLE 134FUEL CELL MARKET IN ASIA PACIFIC, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)163
TABLE 135FUEL CELL MARKET IN ASIA PACIFIC, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)164
10.3.3BY END USER164
TABLE 136FUEL CELL MARKET IN ASIA PACIFIC, BY END USER,
2016–2019 (USD MILLION)164
TABLE 137FUEL CELL MARKET IN ASIA PACIFIC, BY END USER,
2020–2027 (USD MILLION)164
10.3.4BY SIZE165
TABLE 138FUEL CELL MARKET IN ASIA PACIFIC, BY SIZE, 2020–2027 (USD MILLION)165
10.3.5BY COUNTRY165
TABLE 139FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY, 2016–2019 (MW)165
TABLE 140FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (MW)165
TABLE 141FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY,
2016–2019 (USD MILLION)166
TABLE 142FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY,
2020–2027 (USD MILLION)166
10.3.5.1China166
10.3.5.1.1Increasing investments in fuel cell based public transport to boost the demand for fuel cell166
TABLE 143FUEL CELL MARKET IN CHINA, BY TYPE, 2016–2019 (MW)167
TABLE 144FUEL CELL MARKET IN CHINA, BY TYPE, 2020–2027 (MW)167
TABLE 145FUEL CELL MARKET IN CHINA, BY TYPE, 2016–2019 (USD THOUSAND)167
TABLE 146FUEL CELL MARKET IN CHINA, BY TYPE, 2020–2027 (USD THOUSAND)168
TABLE 147FUEL CELL MARKET IN CHINA, BY SIZE, 2020–2027 (USD MILLION)168
TABLE 148FUEL CELL MARKET IN CHINA, BY END USER, 2016–2019 (USD MILLION)168
TABLE 149FUEL CELL MARKET IN CHINA, BY END USER, 2020–2027 (USD MILLION)169
TABLE 150FUEL CELL MARKET IN CHINA, BY APPLICATION, 2016–2019 (USD MILLION)169
TABLE 151FUEL CELL MARKET IN CHINA, BY APPLICATION, 2020–2027 (USD MILLION)169
10.3.5.2Japan170
10.3.5.2.1Rise in demand for fuel cells in the residential sector to boost the market growth170
TABLE 152FUEL CELL MARKET IN JAPAN, BY TYPE, 2016–2019 (KW)170
TABLE 153FUEL CELL MARKET IN JAPAN, BY TYPE, 2020–2027 (KW)171
TABLE 154FUEL CELL MARKET IN JAPAN, BY TYPE, 2016–2019 (USD THOUSAND)171
TABLE 155FUEL CELL MARKET IN JAPAN, BY TYPE, 2020–2027 (USD THOUSAND)171
TABLE 156FUEL CELL MARKET IN JAPAN, BY SIZE, 2020–2027 (USD MILLION)172
TABLE 157FUEL CELL MARKET IN JAPAN, BY END USER, 2016–2019 (USD MILLION)172
TABLE 158FUEL CELL MARKET IN JAPAN, BY END USER, 2020–2027 (USD MILLION)172
TABLE 159FUEL CELL MARKET IN JAPAN, BY APPLICATION, 2016–2019 (USD MILLION)173
TABLE 160FUEL CELL MARKET IN JAPAN, BY APPLICATION, 2020–2027 (USD MILLION)173
10.3.5.3South Korea173
10.3.5.3.1Mandates to decarbonize the energy sector expected to increase the demand for fuel cells173
TABLE 161FUEL CELL MARKET IN SOUTH KOREA, BY TYPE, 2016–2019 (KW)174
TABLE 162FUEL CELL MARKET IN SOUTH KOREA, BY TYPE, 2020–2027 (KW)174
TABLE 163FUEL CELL MARKET IN SOUTH KOREA, BY TYPE,
2016–2019 (USD THOUSAND)175
TABLE 164FUEL CELL MARKET IN SOUTH KOREA, BY TYPE,
2020–2027 (USD THOUSAND)175
TABLE 165FUEL CELL MARKET IN SOUTH KOREA, BY SIZE, 2020–2027 (USD MILLION)175
TABLE 166FUEL CELL MARKET IN SOUTH KOREA, BY END USER,
2016–2019 (USD MILLION)176
TABLE 167FUEL CELL MARKET IN SOUTH KOREA, BY END USER,
2020–2027 (USD MILLION)176
TABLE 168FUEL CELL MARKET IN SOUTH KOREA, BY APPLICATION,
2016–2019 (USD MILLION)176
TABLE 169FUEL CELL MARKET IN SOUTH KOREA, BY APPLICATION,
2020–2027 (USD MILLION)177
10.3.5.4Rest of Asia Pacific177
TABLE 170FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2016–2019 (KW)178
TABLE 171FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2020–2027 (KW)178
TABLE 172FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE,
2016–2019 (USD THOUSAND)178
TABLE 173FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE,
2020–2027 (USD THOUSAND)179
TABLE 174FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY SIZE,
2020–2027 (USD MILLION)179
TABLE 175FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY END USER,
2016–2019 (USD MILLION)179
TABLE 176FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY END USER,
2020–2027 (USD MILLION)180
TABLE 177FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY APPLICATION,
2016–2019 (USD MILLION)180
TABLE 178FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY APPLICATION,
2020–2027 (USD MILLION)180
10.4EUROPE181
10.4.1BY TYPE181
TABLE 179FUEL CELL MARKET IN EUROPE, BY TYPE, 2016–2019 (KW)181
TABLE 180FUEL CELL MARKET IN EUROPE, BY TYPE, 2020–2027 (KW)182
TABLE 181FUEL CELL MARKET IN EUROPE, BY TYPE, 2016–2019 (USD THOUSAND)182
TABLE 182FUEL CELL MARKET IN EUROPE, BY TYPE, 2020–2027 (USD THOUSAND)182
10.4.2BY APPLICATION183
TABLE 183FUEL CELL MARKET IN EUROPE, BY APPLICATION,
2016–2019 (USD MILLION)183
TABLE 184FUEL CELL MARKET IN EUROPE, BY APPLICATION,
2020–2027 (USD MILLION)183
TABLE 185FUEL CELL MARKET IN EUROPE, BY STATIONARY APPLICATION,
2016–2019 (USD MILLION)183
TABLE 186FUEL CELL MARKET IN EUROPE, BY STATIONARY APPLICATION,
2020–2027 (USD MILLION)184
TABLE 187FUEL CELL MARKET IN EUROPE, BY FUEL CELL VEHICLES APPLICATION, 2016–2019 (USD MILLION)184
TABLE 188FUEL CELL MARKET IN EUROPE, BY FUEL CELL VEHICLES APPLICATION, 2020–2027 (USD MILLION)184
10.4.3BY END USER185
TABLE 189FUEL CELL MARKET IN EUROPE, BY END USER, 2016–2019 (USD MILLION)185
TABLE 190FUEL CELL MARKET IN EUROPE, BY END USER, 2020–2027 (USD MILLION)185
10.4.4BY SIZE185
TABLE 191FUEL CELL MARKET IN EUROPE, BY SIZE, 2020–2027 (USD MILLION)185
10.4.5BY COUNTRY186
TABLE 192FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2016–2019 (MW)186
TABLE 193FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2020–2027 (MW)186
TABLE 194FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)186
TABLE 195FUEL CELL MARKET IN EUROPE, BY COUNTRY, 2020–2027 (USD MILLION)187
10.4.5.1Germany187
10.4.5.1.1Focus on emission-free transportation to drive
the market growth187
TABLE 196FUEL CELL MARKET IN GERMANY, BY TYPE, 2016–2019 (KW)188
TABLE 197FUEL CELL MARKET IN GERMANY, BY TYPE, 2020–2027 (KW)188
TABLE 198FUEL CELL MARKET IN GERMANY, BY TYPE, 2016–2019 (USD THOUSAND)188
TABLE 199FUEL CELL MARKET IN GERMANY, BY TYPE, 2020–2027 (USD THOUSAND)189
TABLE 200FUEL CELL MARKET IN GERMANY, BY SIZE, 2020–2027 (USD MILLION)189
TABLE 201FUEL CELL MARKET IN GERMANY, BY END USER, 2016–2019 (USD MILLION)189
TABLE 202FUEL CELL MARKET IN GERMANY, BY END USER, 2020–2027 (USD MILLION)190
TABLE 203FUEL CELL MARKET IN GERMANY, BY APPLICATION,
2016–2019 (USD MILLION)190
TABLE 204FUEL CELL MARKET IN GERMANY, BY APPLICATION,
2020–2027 (USD MILLION)190
10.4.5.2UK191
10.4.5.2.1Adoption of fuel cell technologies to help the UK to
reduce GHG emissions191
TABLE 205FUEL CELL MARKET IN UK, BY TYPE, 2016–2019 (KW)191
TABLE 206FUEL CELL MARKET IN UK, BY TYPE, 2020–2027 (KW)192
TABLE 207FUEL CELL MARKET IN UK, BY TYPE, 2016–2019 (USD THOUSAND)192
TABLE 208FUEL CELL MARKET IN UK, BY TYPE, 2020–2027 (USD THOUSAND)192
TABLE 209FUEL CELL MARKET IN UK, BY SIZE, 2020–2027 (USD MILLION)193
TABLE 210FUEL CELL MARKET IN UK, BY END USER, 2016–2019 (USD MILLION)193
TABLE 211FUEL CELL MARKET IN UK, BY END USER, 2020–2027 (USD MILLION)193
TABLE 212FUEL CELL MARKET IN UK, BY APPLICATION, 2016–2019 (USD MILLION)194
TABLE 213FUEL CELL MARKET IN UK, BY APPLICATION, 2020–2027 (USD MILLION)194
10.4.6ITALY194
10.4.6.1Increased focus on energy transition to drive the growth of the fuel cell market in Italy194
TABLE 214FUEL CELL MARKET IN ITALY, BY TYPE, 2016–2019 (KW)195
TABLE 215FUEL CELL MARKET IN ITALY, BY TYPE, 2020–2027 (KW)195
TABLE 216FUEL CELL MARKET IN ITALY, BY TYPE, 2016–2019 (USD THOUSAND)195
TABLE 217FUEL CELL MARKET IN ITALY, BY TYPE, 2020–2027 (USD THOUSAND)196
TABLE 218FUEL CELL MARKET IN ITALY, BY SIZE, 2020–2027 (USD THOUSAND)196
TABLE 219FUEL CELL MARKET IN ITALY, BY END USER, 2016–2019 (USD THOUSAND)196
TABLE 220FUEL CELL MARKET IN ITALY, BY END USER, 2020–2027 (USD THOUSAND)197
TABLE 221FUEL CELL MARKET IN ITALY, BY APPLICATION,
2016–2019 (USD THOUSAND)197
TABLE 222FUEL CELL MARKET IN ITALY, BY APPLICATION,
2020–2027 (USD THOUSAND)197
10.4.6.2Rest of Europe198
TABLE 223FUEL CELL MARKET IN REST OF EUROPE, BY TYPE, 2016–2019 (KW)198
TABLE 224FUEL CELL MARKET IN REST OF EUROPE, BY TYPE, 2020–2027 (KW)199
TABLE 225FUEL CELL MARKET IN REST OF EUROPE, BY TYPE,
2016–2019 (USD THOUSAND)199
TABLE 226FUEL CELL MARKET IN REST OF EUROPE, BY TYPE,
2020–2027 (USD THOUSAND)199
TABLE 227FUEL CELL MARKET IN REST OF EUROPE, BY SIZE,
2020–2027 (USD THOUSAND)200
TABLE 228FUEL CELL MARKET IN REST OF EUROPE, BY END USER,
2016–2019 (USD THOUSAND)200
TABLE 229FUEL CELL MARKET IN REST OF EUROPE, BY END USER,
2020–2027 (USD THOUSAND)200
TABLE 230FUEL CELL MARKET IN REST OF EUROPE, BY APPLICATION, <
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