Fuel Cell Stack Market: How will the Disruptions Created by Covid19 Affect the market ? Fortune Business Insights
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Sep 10, 2020 (The Expresswire) —
According to the report, the fuel cell stack possesses flexible power output, allows easy addition and removal of fuel cells, and has modular designs among other features. The “fuel cell stack”provides a wide range of power ratings, operating temperature ranges, and have applications in the portable power supply. the liquid-cooled fuel cell stack is expected to hold the lion’s share during the forecast period owing to its power rating as compared to the air-cooled fuel cell stack. The liquid-cooled segment has applications in hybrid batteries, primary power for grid backup, and power unit among others. Whereas, the air-cooled fuel cell stack has lower power ratings and is used in applications such as battery range extenders and portable power.
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The increasing demand for vehicles around the world is a key factor boosting the globalFuel Cell Stack Marketsize, says Fortune Business Insights in a report, titled “Fuel Cell Stack MarketSize, Share and Global Trend by Type (Air-Cooled, Liquid Cooled), By Application (Portable Power, Backup Power, Motive Power, Material Handling Equipment, Others) and Geography Forecast till 2026.” The growth in the automotive industry will contribute positively to the market.
Some of the Major Companies that are Present in the GlobalFuel Cell Stack Marketare:
- Dana Incorporated
- Freudenberg Group
- TOTO Ltd
- Commonwealth Automation Technologies, Inc
- Robert Bosch GmbH
- Horizon Fuel Cell Technologies
- Ballard Power Systems
- ElringKlinger AG
- Pragama Industries
- FuelCell Energy Solutions GmbH
- Nuvera Fuel Cells, LLC
- Nissan Motor Corporation and
- Palcan Energy Corporation
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The report is focused on providing detailed information about the market. It discusses all aspects in a profound way and offers insights on the recent market trends, market drivers, market restraints and several other parts of the market to assist companies with their agendas and strategies for the expansion.
Expansion in the Automotive Industry Will Create Growth Opportunities
Fuel Cell Stack Markettrends include the increasing demand for vehicles and the surge in manufacturing from the automotive industry. The collaboration between Continental AG and the Chemnitz University of Technology will encourage the growth of the market during the forecast period. For instance, Continental AG announced its research and development plans related to fuel cell technology through strategic collaboration with the Chemnitz University of Technology to erect a fuel cell laboratory to advance fuel cell technology. Furthermore, Ballard Power Systems announced that Solaris Bus and Coach S.A has given a purchase order to the company for 12 fuel cell modules that use FCgen®-LCS fuel cell stack technology. The new purchase order by Solaris Bus and Coach S.A is expected to create growth opportunities for the market. In addition, the increasing focus of manufacturers in RandD investment for the development of fuel stacks will accelerate theFuel Cell Stack Marketgrowth
However, the expensive cost of the fuel cell stack is expected to restrict the growth of the market in the foreseeable future.
Increasing Demand for Portable Power Will Foster Growth in North America
The increasing demand for portable power and material handling equipment in North America is expected to boost the market growth of fuel cell stacks in the near future. Latin America has a high potential for the market owing to the growth of the power generation industry in the region. The region is focused on increasing its grid connectivity, which, will, in, turn aid the market in the region. Europe is highly focused on promoting electric and hybrid vehicles. Countries such as Norway, Sweden, and Germany are key markets for electric vehicles in Europe. The growth in the automotive industry is expected to augment the market growth in the region. Asia Pacific is expected to witness high growth. China is among the key markets for the sales of electric vehicles around the globe. Countries such as India have reduced taxes imposed on electric vehicles. Therefore, the increasing demand for electric vehicles and the expansion of the automobile industry in the Asia Pacific will create a lucrative market. The Middle East and Africa has installed new capacities of renewable energy grids and is predicted to witness a surge in the power generation industry owing to the increasing inclination towards renewables in the region. The surge in the grid connectivity in the Middle East and Africa is expected to support the growth of theFuel Cell Stack Marketin the region.
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Key Segmental Overview:
1. By Type
2. By Application
- Portable Power
- Backup Power
- Motive Power
- Material Handling Equipment
3. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East and Africa (South Africa, GCC, and Rest of the Middle East and Africa)
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
For more information in the analysis of this report, visit:https://www.fortunebusinessinsights.com/industry-reports/fuel-cell-stack-market-101323
Major Table of Content ForFuel Cell Stack Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Naphtha Market Analysis, Insights and Forecast,2026
- North America Naphtha Market Analysis, Insights and Forecast,2026
- Europe Naphtha Market Analysis, Insights and Forecast,2026
- Asia Pacific Naphtha Market Analysis, Insights and Forecast,2026
- Middle East and Africa Naphtha Market Analysis, Insights and Forecast,2026
- Latin America Naphtha Market Analysis, Insights and Forecast,2026
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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