"Actionable Insights to Fuel Your Growth"
Fuel cells convert the chemical energy stored in the molecular bonds into electrical energy. The fuel cells produce water heat and electricity and owing to this, they are environment-friendly and have zero emissions. Fuel cell stack is an assembly of more than two individual fuel cells stacked over each other in order to achieve higher power ratings and voltage.
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.
To gain extensive insights into the market, Request for Customization
By type, the fuel cell stack market is bifurcated based on the cooling mechanism used, i.e. air-cooled and liquid-cooled fuel cell stack. The air-cooled fuel cell stack has lower power ratings and is used in applications such as battery range extenders and portable power. The liquid-cooled fuel cell stack has a higher power rating as compared to the air-cooled fuel cell stack.
The liquid-cooled fuel stack has applications in hybrid batteries, primary power for grid backup, and power unit among others. Owing to a broader range of applications, the liquid-cooled fuel cell stacks are expected to hold the lion's share in the global fuel cell stack market by type during the forecast period. By application, the fuel cell stack market is categorized on the basis of the uses in portable power, backup power, motive power, and material handling equipment among others.
Fuel cell stacks are highly efficient and are widely in demand for automotive industry applications. The growth in demand for the vehicles and increasing on-road fleet are expected to drive the automotive industry in the coming years. Owing to this, the fuel cell stack market is expected to grow at a healthy rate in the near future. The fuel cell stacks are totally environment-friendly and have zero carbon emissions.
The efficiency of the fuel cell stacks is higher as compared to its other counterparts such as batteries. Owing to this, the fuel cell stack manufacturers are focused on investing massive amounts into the research and development of fuel stacks. This is likely to boost the growth of the fuel cell stack market in the near future.
Fuel cell stack is at the introduction phase in the market and is not fully commercialized. The other counterparts such as batteries are economical in cost as compared to the fuel cell stack. This is expected to have a negative impact on the growth of the fuel cell stack market in the coming years.
Some of the major companies that are present in the global fuel cell stack market are Solvay, Dana Incorporated, Freudenberg Group, TOTO Ltd, Commonwealth Automation Technologies, Inc, Robert Bosch GmbH, Horizon Fuel Cell Technologies, Ballard Power Systems, Nedstack, ElringKlinger AG, Pragama Industries, FuelCell Energy Solutions GmbH, Nuvera Fuel Cells, LLC, Nissan Motor Corporation and Palcan Energy Corporation among others.
· Air Cooled
· Liquid Cooled
· Portable Power
· Backup Power
· Motive Power
· Material Handling Equipment
· 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 & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The global fuel cell stack market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region has witnessed a surge in demand for portable power and material handling equipment in the recent past. The growth of the food and beverage and retail industry in the region has been a key driving force for the demand for material handling equipment in the region. The growth in the 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 region has a high potential for the growth of the power generation industry. The region is focused on increasing its grid connectivity. Owing to this, the fuel cell stack market is expected to witness a steady growth for grid backup in the region. The Europe region is highly focused on promoting electric and hybrid vehicles. Countries such as Norway, Sweden, and Germany are key markets that drive electric vehicle sales in Europe. The growth in the automotive industry in Europe is forecast to augment the market growth of the fuel cell stack. 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. Owing to the increasing demand for electric vehicles, the automobile industry in the Asia Pacific region is expected to gain traction in the coming years. The growth automobile industry in the Asia Pacific region is likely to drive the fuel stack cell market during the forecast period. The Middle East and Africa region has installed new capacities of renewable energy grids and is forecast to witness a surge in the power generation industry owing to the inclination of the local governments in the region towards renewables. The growth in the grid connectivity in the Middle East and Africa is expected to aid in the growth of the fuel cell stack market in the region.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry