UK Fuel Cell Market Size – Industry Analysis, Share, Growth, Trends, and Forecast 2019-2024

UK fuel cell market is set to witness growth owing to growing investment toward development of hydrogen infrastructure along with favourable government regulations to reduce carbon emissions. Growing demand for development and deployment of the renewable energy technologies will further complement the business landscape. The Government of UK announced to inaugurate 1,150 hydrogen refuelling station by 2030.

The massively increasing demand for renewable energy has served as a major boost to fuel cell market, the growth graph of which is projected to display a marked ascent over 2017-2024. It is prudent to note that a fuel cell is rather different from a battery – it is basically an electrochemical mechanism that can produce electricity through the combination of hydrogen and oxygen and is a renewable source of energy that keeps generating electricity as long as the combination of source fuels is available. As the fuel is not burnt in power generation, it is an unobtrusive process and truly pollution free with zero carbon dioxide emission, which is one of the principal concerns of most industry verticals worldwide. As governments in various nations are undertaking positive steps to decrease carbon dioxide emissions, fuel cell market share is projected to climb exponentially high in the next few years.

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Fuel cell industry growth is driven by three main application segments, namely stationary power, transportation and portable power. It is imperative to state that stationary applications among these would emerge as one of the most profitable segments of fuel cell market, driven by the demand for heating in commercial, residential and industrial spaces. Furthermore, the requirement of backup power sources in schools, hotels, hospitals, telecommunication base stations, and data centers will also propel the stationary fuel cell market. Portable fuel cell market size on the other hand, will be augmented by the product’s widespread usage as a power source for laptops, torches, radios, MP3 players, cameras etc. Subject to the product’s rapid rechargeability, reliability, longer run time and low operating cost, portable fuel cell industry is projected to generate significant revenue in the forecast period.

It is noteworthy to mention that analysts forecast transport applications to be inherently responsible for propelling fuel cell market to the farthest extent. Japan and Korea for instance, had introduced light duty fuel cell operated vehicles, post which the concept gained huge prominence. Most of the heavy automotive hitters such as Honda, Hyundai, Ford, Toyota, etc., have now manufactured their own fuel cell electric vehicles. The rapid increase in the production of fuel cell driven buses, forklifts, airplanes, motorbikes and boats vividly indicate that fuel cell market stands to substantially profit from the expanding electric vehicle market.

Major participants across fuel cell market includes Hydrogenics Corporation, Horizon, FuelCell Energy, Toshiba, UTC Power, Panasonic, Ceres Power, Plug Power, AFC Energy, Doosan, SFC, Arcola, Bloom Energy and Ballard. The industry has witnessed several M&A to expand its regional presence. 

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Glimpse of Table of Content (ToC)

Chapter 3    Fuel Cell Industry Insights

3.1   Industry segmentation

3.2   Industry landscape, 2013 – 2024 (USD Million) (MW)

3.3   Industry ecosystem analysis

3.3.1   Vendor matrix

3.4   Innovation & sustainability

3.5   Regulatory landscape

3.5.1   U.S.   Fuel Cell and Hydrogen Energy Association (FCHEA)   Safety, Codes & Standards   CSA Fuel Cell Standards   SAE Fuel Cell Vehicle Safety Committee (automotive) enabling standards   NFPA 2: Hydrogen Technologies Code   Overview of Regulations, Codes, and Standards Related to Hydrogen Infrastructure Safety

3.5.2   Europe   Investments: Government and Collaborative Hydrogen and Fuel Cell Funding

3.5.3   Japan   Investments: Government and Collaborative Hydrogen and Fuel Cell Funding   Government Targets

3.5.4   South Korea   Government Targets

3.6   Orders and installations, 2015

3.6.1   Bloom energy

3.6.2   Doosan fuel cell

3.6.3   FuelCell Energy and FuelCell Energy Solutions, GmbH

3.7   Industry impact forces

3.7.1   Growth drivers   Government positive outlook and incentives   Environment-friendly and a better alternative than existing options   More efficient than batteries

3.7.2   Industry pitfalls & challenges   Lack of infrastructure

3.8   Growth potential analysis

3.9   Announced Hydrogen Stations Plans, Upgrades, 2015

3.10   Commercially available hydrogen generation systems, 2015

3.11   Hydrogen energy storage projects, 2015

3.12   Porter’s Analysis

3.13   Competitive landscape, 2016

3.13.1   Strategy dashboard   Hydrogenics Corporation   Ballard   FuelCell Energy   SFC Energy

3.13.2   Merger and acquisition landscape

3.14   PESTEL Analysis

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