The fuel cell market is expected to reach approximately USD 7.12 billion by 2026, from USD 2.83 billion in 2019, at a CAGR of approximately 14% over the forecast period 2021-2027. The global fuel cell market in the form of supply chain disruptions, project delays and lack of financial support for R&D activities. The introduction of government initiatives in key markets and increasing investment support from the private sector are expected to act as a driving force for the market in the coming years. Meanwhile, one of the biggest competitors of fuel cells in today’s clean fuel vehicle market is batteries.
A full report of Fuel Cell Market available at: https://www.orionmarketreports.com/fuel-cell-market/23047/
Major Players
• Ballard Power Systems Inc.
• FuelCell Energy Inc.
• Plug Power Inc.
• Mitsubishi Power, Ltd.
• Cummins Inc.
Fuel Cell Market- Segmentation
By Application
• Vehicular
• Non-vehicular
By Technology
• Polymer Electrolyte Membrane Fuel Cell (PEMFC)
• Solid Oxide Fuel Cell (SOFC)
• Other Fuel Cell Technologies
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