Trending Now

Building a Resilient Supply Chain with Advanced Predictive…

New Articles

The Advantages Obtained from Fuel Cell Stationary Power Generation make it a Suitable Alternative for the Future World

fuel cell stationary
Global Trade Daily, Technology

The Advantages Obtained from Fuel Cell Stationary Power Generation make it a Suitable Alternative for the Future World

Leave a comment

The global fuel cell for stationary power market size is estimated to register a notable CAGR of 11.1% during the forecast period. The market is projected to reach US$ 5,676.8 million by 2033 from US$ 1,981.4 million in 2023.

In search of sustainable energy sources, mankind has explored the technology of hydrogen-powered fuel cells that can replace conventional fuel requirements with efficiency and few pollution levels. With the rapid expansion of stationary hydrogen fuel cells, the cost of technology is declining quickly, further boosting the fuel cell for the stationary power market in recent years.

The combustion-less generation of power by the chemical combination of hydrogen gas makes a system release a negligible amount of pollutants and high efficiency than the traditional power generation methods.

The advantages obtained from fuel cell stationary power generation make it a suitable alternative for the future world. This is further supported by the increasing global population, becoming increasingly concerned about environmental degradation and depleting fossil fuel resources. The market players dealing with any service or product concerning hydrogen fuel cells are predicted to experience significant growth in the coming years.

What are the Present Dynamics of the Global Fuel Cell for Stationary Power Market?

Increased government spending for providing suitable infrastructure for the establishment of clean and green energy sources is the main factor for such remarkable growth in stationary fuel cell power plants in different countries. To make it popular for use in daily life, the market players are optimizing technologies used in the making of fuel cells according to specific purposes.

Unreliability on the electricity supply grid is another main reason for the increased number of installation hydrogen electricity generators by many industrial and commercial units. Also, in the case of other unconventional energy sources, lithium-ion batteries are the quintessential material, which is a non-renewable resource. With the increasing demand for clean energy sources and dismissing stock of lithium elements, the hydrogen fuel cell is predicted to overtake the green energy market.

What are the Key Challenges Limiting the Growth of the Fuel Cell for the Stationary Power Industry?

The oil boom in Northern America and the deregulation of fossil fuels resulting in decreased prices of petroleum and diesel can delay the adoption of hydrogen fuel cells and hamper its development to make it a worldwide market.

The high cost of raw materials and the manpower required to operate is still at a developing stage in many regions. This may pose a key limitation for the market players in the fuel cell for the stationary power market. Providing sufficient service for installation and maintenance with an affordable stationary fuel cell cost is the main challenge that the market players need to overcome to make a successful business.

What is the Competitive Landscape in the Global Fuel Cell for Stationary Power Market?

All the leading market players are continuously investing in research and development activities and developing new products for making their brands popular among consumers.

The growing demand for hydrogen fuel cell generators for homes is the main attraction for new business ventures entering the market and competing with established companies.

The establishment of local players in different geographical regions is a prominent driving factor for the increased amount of mergers and acquisitions undertaken by key players to remain competitive in the stationary fuel cell power plants market.

Recent Developments in the Market

In December 2020, Robert Bosch declared its plans to invest in full-scale production of solid oxide fuel cells (SOFC) and set up a production unit with an annual capacity of about 200 MW. This development is expected to increase the market value of Bosch stationary fuel cells across all the regions

In October 2021, the global power leader Cummins Inc. released the large proton exchange membrane (PEM) electrolyzer that is operational in Quebec, Canada. It is been regarded as the beacon for the zero-carbon future.

automotive fuel cell
Archives, Global Trade Daily, Market insight, Technology

Automotive Fuel Cell Systems Market To Accumulate US$ 65 Billion By 2033

Leave a comment

As per Fact.MR, a provider of market research and competitive intelligence, the global automotive fuel cell systems market is expected to garner US$ 65 billion by 2033, skyrocketing at 41.6% CAGR from 2023 to 2033.

Fuel cell vehicles use hydrogen fuel to propel themselves. This fuel is stored in high-pressure tanks before being delivered into a fuel cell stack, where hydrogen and oxygen, both naturally present in the air, react to produce electricity.

Government assistance to promote zero-emission vehicles and rapidly growing consumer awareness are the main factors boosting the expansion of the global automotive fuel cell systems market. Furthermore, stringent emission standards and the advancement of fuel cell technology are propelling the market growth.

Fuel cell-powered vehicles have a longer driving range, quieter operation, and faster refilling technology than competitors, making them perfect for transportation. Moreover, this fuel can be utilized in a variety of transportation applications, including LCVs (light commercial vehicles), HCVs (heavy commercial vehicles), trains, buses, and defense vehicles.

Asia Pacific is leading the global market due to supportive government FCEV (fuel cell electric vehicle) deployment targets and increased hydrogen-fueled infrastructure investments. Furthermore, the existence of numerous large-scale fuel-cell passenger car manufacturers in the region is projected to bolster regional market growth.

Key Takeaways from Market Study

  • The global automotive fuel cell systems market amounted to US$ 2 billion in 2023.
  • Worldwide demand for automotive fuel cell systems is projected to surge at a CAGR of 41.6% during the forecast period (2023 to 2033).
  • The global market is estimated to touch US$ 65 billion by 2033.
  • Asia Pacific accounted for 65% share of the global market in 2022.
  • Passenger cars captured 84.3% share of the worldwide market in 2022.

“Soaring demand for zero-emission vehicles and significant government support are primary aspects driving the global market for automotive fuel cell systems. Moreover, rising gasoline prices globally are increasing the demand for fuel-cell-powered vehicles,” says a Fact.MR analyst.

Winning Strategy

Major car manufacturers are focusing on collaborations to introduce new vehicles and expand their presence in the worldwide market.

  • For example, Toyota launched hydrogen fuel-cell trucks in conjunction with Isuzu and Hino Motors in June 2022. These trucks can drive great distances to perform multiple delivery tasks in a single day.
fuel cell stationary
Archives, Global Trade Daily, Technology

Portable Fuel Cells Market is Projected to Witness Lucrative Growth Over the Coming Decade

Leave a comment

According to latest research estimates, portable fuel cells market is projected to witness lucrative growth over the coming decade. Demand will witness sharp recovery with optimistic growth outlook in the long-run. Rising prominence of electric vehicles is projected to ascend the growth in demand over the forecast period.

What is Driving Demand for portable Fuel Cells

The rapid surge in demand for unconventional energy sources is one of the primary driving factor for the demand growth.  Increasing concerns headed for zero ecological impact are vital aspects influencing the demand for portable fuel cells. In addition, ease of application and eco-friendly nature also paves the way for growth in consumption.

Being one of the most vibrant sectors of the economy, rapid surge in the growth of the electronic industry has prompted substantial changes in the investments in electronic manufacturing industry and hence fueling significant demand.

Eco-friendly objectives to eliminate emission rates and boosting regulations by the government authorities in developed countries are augmenting the demand for hydrogen power plants during the forecast period. Subsequently, resulting in upsurge in consumption of portable fuel cells over the coming years.

Additional pivotal element for the growth in demand for portable fuel cells is the availability of various fuels that can be implemented in fuel cells. Ethanol, Methanol, butane, hydrogen, and diesel are some of the most common fuels used in portable fuel cells.

The relatively easy acquisition of hydrocarbon fuels is creating positive prospects for demand growth by making them affordable and easier.

Rising Investments in Smart Grids to Augment Portable Fuel Cells Consumption

On accounts of substantial efforts by government authorities for power grid enhancements in order to create easy availability of grid power in previously unreachable areas.

Additionally, the adoption and development of smart cities is compelling the integration of smart grids implemented with IoT based connecting technologies.

These are impelling the use of locally small scale self-sustainable energy generation techniques such as wind, hydropower, solar have become cheaper and viable option for portable fuel cells.

The versatile benefits related to portable fuel cells such as improved storage and energy efficiencies, zero emissions and mobility among other coupled with the rising research & development activities by the manufacturers are paving the way for market growth during the forecast period.

Asia Pacific Market Growth Outlook

Asia Pacific region is anticipated to witness robust growth over the coming years, owing to increasing innovations in consumer electronics and prominence of electric vehicles in the countries such as China, Japan, etc.

Europe Market Overview

The European countries such as Germany, UK, Norway, Netherlands, etc. are among few major investors in the fuel cell powered vehicles.

Correspondingly, resulting in increased consumption of portable fuel cells during the forecast years. For instance, 23 European countries formed a collaboration on the HyLAW EU Project, targeted for recognizing and removing legal and administrative obstructions for the deployment of hydrogen fuel cells and hydrogen applications.

Furthermore, activities for research and product development regarding utilities and autonomous vehicles in defense sector have propelled in recent few years. The high focus on the using clean energy sources has resulted in increase in the investments in generating electricity using fuel cells.

fuel cell
Archives, Global Trade Daily, News

Nuvera Breaks Ground on Automated Fuel Cell Production Facility in China

Leave a comment

Nuvera Fuel Cells, LLC, a provider of fuel cell power solutions for motive applications, is pleased to announce construction of a fuel cell stack production line in the Hangzhou district government of Fuyang, China. A ground-breaking ceremony was held on Dec. 17, 2019 attended by Lucien Robroek, CEO and Jon Taylor, President of Nuvera, along with Fuyang government officials.

In December 2018, Nuvera signed a cooperation agreement with the Fuyang government, located in Zhejiang province, to enable the local manufacture of Nuvera® fuel cell stacks. The agreement provided incentives to Nuvera for the establishment of its production facility. The fuel cells will power zero-emissions, heavy-duty vehicles such as delivery vans and transit buses.

“China is leading the world in the adoption of fuel cell electric vehicles, and we are excited to be at ground zero of this transformation,” said Lucien Robroek. “The new manufacturing site establishes Nuvera as a major fuel cell provider both in China and in the entire Asian region.”

The combined market for fuel cell forklifts, passenger vehicles and commercial vehicles in China is expected to reach nearly 50,000 units per year in 2025 and 400,000 units per year by 2030, according to information provided by customers in China. The Nuvera site incorporates equipment for the automated manufacture of up to 5,000 fuel cell stacks per year for vehicle applications. Additional capacity can be added as demand requires.

_______________________________________________________________

ABOUT NUVERA FUEL CELLS, LLC

Nuvera Fuel Cells, LLC is a manufacturer of heavy-duty, zero-emission engines for mobility applications. With facilities located in the U.S. and Europe, Nuvera provides clean, safe, and efficient products designed to meet the rigorous needs of industrial vehicles and other transportation markets.

Nuvera is a subsidiary of Hyster-Yale Group, Inc., which designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Hyster-Yale Group is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE:HY). Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 7,800 people worldwide.