Portable Fuel Cell Market Size, Share & Industry Analysis, By Fuel Type(Hydrogen Fuel, Methanol or Diesel Fuel, Others), By End-User Industry (Automotive, Electronics, Utilities, Others) And Regional Forecast, 2024-2032

A portable fuel cell is a device that works like a battery, and does need recharging or does not run down, as long as fuel is supplied as an oxidant. Much of the fuel cells used in automotive, electronics devices like laptops, mobile, and others, produce electrical power from the electrochemical process and uses chemical substances/material as a source of fuel. However, many fuel cells use hydrogen or oxygen as chemical fuel.

Based on the fuel type, the market is segmented into hydrogen, methanol or diesel, and others. hydrogen fuel type is anticipated to dominate the market segment due to its possibility of powering the automotive vehicle, with the replacement of petroleum fuel with hydrogen. The research and development team of much automotive manufacturing are focusing on developing fuel technology for transportation. Based on these factors, the hydrogen fuel is expected to grow during the forecast period.

Based on the end-user industry, the market is segmented into automotive, electronics, utilities, and others. The automotive segment is expected to dominate the market segment due to the rising trend of electric vehicles. The reduction of usage in imported oil has anticipated the demand for the portable fuel cell market.

One of the major drivers for the global portable fuel cell market is the growing steady technology in the fuel cell industry has to lead the major availability of portable fuel cells.  Other than that, the variety of fuel types available to power the fuel cell acts as the major driver for the portable fuel cell industry.

The major restraints for the portable fuel cell market are the storage and distribution of the fuel is difficult, other than that fuel type like methanol produces polluting carbon dioxide resulting degrading of environment.

Key players covered:

Some of the major companies present in the global portable fuel cell market are Altergy Systems, Ballard Power Systems, Bloom Energy, SFS Energy AG, FuelCell Energy, Watt Fuel Cell Corporation, Ceres Power, Doosan Mobility Innovation, and Plug Power.

Regional analysis:

The portable fuel cell market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The Asia Pacific is anticipated to dominate the most significant market due to the rising demand for cleaner energy to overcome the environmental concerns caused due to traditional energy technology across the region like India, Japan, and others.  Other than that, a region like Japan has a significant growth for portable fuel cell market due to the majority of demand from the transportation and residential segment for the economic growth and focus on reducing the greenhouse emission effect.

North America and Europe have a majority of demand for automotive industries and electronics consumers; other than that, the adaptive use of electric vehicles and hybrid vehicles across various regions is anticipated to create the need for the portable fuel cell. The Latin America portable fuel cell market is driven by the rising demand for alternative energy sources, efficient technologies for the growing economic developing regions. A region like Brazil has a major consumer of fuel cells owing to the sizeable automotive industry and the government norms and policies for emission control. The portable fuel cell can be seen to have a potential growth in electronics applications, automotive, and others across various regions of Latin America. In the Middle East & Africa, the growing infrastructure for renewable energy and increasing demand for electric vehicles drive the portable fuel cell market.

Segmentation

Key Industry Developments

• On 20 April 2020, Doosan Mobility Innovation has been gearing up for the production, distribution of hydrogen fuel cells owing to create synergy in the hydrogen-related business segment.


• On 06 January 2020, Plug Power has signed a new contract worth $ 172 million with a Fortune 100 company. The contract primarily focuses on making hydrogen fuel cell units, storage, and dispensing across the distribution network.