Fuel Cell Generator Market to Reach USD 0.81 Billion by 2030; Rising Demand for Clean Power Generation Systems with Lower Emissions to Propel Growth, says The Brainy Insights

Countries like Japan and South Korea are majorly funding fuel cell adoption owing to the commercial deployment of Japanese fuel cell micro combined heat and power products. Asia Pacific region emerged as the largest market for the global fuel cell generator market with a 34.5% share of the market revenue in 2021.

/EIN News/ -- Newark, Oct. 12, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global fuel cell generator market is expected to grow from USD 0.16 billion in 2021 to USD 0.81 billion by 2030, at a CAGR of 19.80% during the forecast period 2022-2030.

Hydrogen as a fuel is an effective, clean, and sustainable energy form. The hydrogen fuel cells emission in purified water form; hydrogen is believed to be the most eco-friendly fuel on planet earth. Hydrogen is naturally produced throughout the universe and pushes innovative energy technologies aiming to resolve the problems confronting the world threatened by environmental transformation. The fuel cell technology is further commercialized on various vehicle platforms, such as buses, trucks, and light-duty passenger cars. Fuel-cell-powered material handling and logistics equipment are installed in warehouses and distribution centres. The technology is also growing in ports and airports to support increased equipment productivity and energy efficiency.

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Fuel Cell Generator Market Report Scope

Report Attributes	Details
Market Size (2030)	Around $0.81 Billion
Market Size (2021)	$0.16 Billion
CAGR (2022-2030)	Over 19.80%
Base Year	2021
Forecast Year	2022-2030
Market Segments	Type, End User, Regions
Geographic Analysis	North America, Europe, South America, Asia Pacific, the Middle East, and Africa

Competitive Strategy

To enhance their market position in the global fuel cell generator market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• In 2022 March, Nedstack Fuel Cell Technology BV joined a partnership with NorthC Datacenters. Under the partnership, Nedstack Fuel Cell Technology BV will deliver hydrogen fuel cells to the European data center landscape with the support of NorthC Datacenters.

Market Growth & Trends

The fuel cell market development rate is predicted to grow in the future as multiple countries invest in hydrogen technologies and the rising number of sectors they target, like stationary power generation. The stationary sector contains fuel cell systems that work at a fixed location for immediate backup power. Fuel cells are being created for small-scale (up to 100 kW) & large-scale (100 kW and up) usage, like data centers, retail operations, telecommunication towers, residences, base stations, and utilities. In the United States, small-scale fuel cell systems are mainly utilized for backup power by telecommunications commodities, railways, utilities, traffic/emergency systems, and governments. To support the role like equipment can play in lowering the carbon emissions from European commercial & residential buildings, critical stakeholders signed a Joint declaration on stationary fuel cells for green buildings. Also, the improving government norms to lower carbon emissions creates sufficient prospects for hydrogen fuel cells. The hydrogen fuel cells radiate by-products like heat and water vapor; there is a strong need for fuel vehicles that do not generate toxic gases. The impact of changing from gasoline to hydrogen fuel cells due to the benefits related to hydrogen fuel cells, such as increased performance in comparison to gas and the use of lowering emissions, is pushing market development.

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Key Findings

• In 2021, the AFC segment dominated the market with the largest market share of 35% and market revenue of 0.056 billion.

The type segment is divided into AFC, SOFC, and PEMFC. In 2021, the AFC segment dominated the market with the largest market share of 35% and market revenue of 0.056 billion. Alkaline fuel cells (AFC) use platinum electrode catalysts. The (OH−) hydroxyl ions relocate from the cathode to the anode. At the anode, hydrogen ions react with the hydroxyl ions to make water and discharge electrons.

• In 2021, the aquaculture segment dominated the market with the largest market share of 25% and market revenue of 0.04 billion.

The end-user segment is divided into data center, agriculture, emergency response generator, construction, marine, and aquaculture. In 2021, the aquaculture segment dominated the market with the largest market share of 25% and market revenue of 0.04 billion. Around 49.5% of fishing products used worldwide come from aquaculture; the percentage is set to grow by 21% by 2050. It will expand the number of aquaculture structures and environmental impacts related to aquacultures, such as water consumption & energy.

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Regional Segment Analysis of the Fuel Cell Generator Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, the Asia Pacific region emerged as the largest market for the global fuel cell generator market, with a market share of around 34.5% and 0.05 billion of the market revenue in 2021. Government regulations primarily push the Asia Pacific market on energy and environment, stringent regulations on emission of GHG. The use of tolerable and pure energy solutions in Japan is growing as both the private sector and the government focus on funding fuel cells.

Key players operating in the global fuel cell generator market are:

• Watt Fuel Cell Corporation
• TW Horizon Fuel Cell Technologies
• Plug Power
• Hydro2Power SRL
• GenCell Energy
• Fischer Panda GmbH
• EFOY Comfort
• BOC HYMERA

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global fuel cell generator market based on the below-mentioned segments:

Global Fuel Cell Generator Market by Type:

• AFC
• SOFC
• PEMFC

Global Fuel Cell Generator Market by End User:

• Data Center
• Agriculture
• Emergency Response Generator
• Construction
• Marine,
• Aquaculture

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About the report:

The global fuel cell generator market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.

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