Fuel Cell Market to cross US$ 8.67 billion by 2030, Says Global Market Insights Inc.
SELBYVILLE, Del., Feb. 7, 2022 /PRNewswire/ -- The fuel cell market is expected to surpass USD 8.67 billion by 2030, as reported in a research study by Global Market Insights Inc. Growing awareness of energy-efficient transportations and robust funding from both public & private parties to develop hydrogen structures alongside offering numerous incentives to buyers with the aim of expanding their worldwide presence will drive the business dynamics.
- Major fuel cell market participants include Ballard, Cummins, Plug Power, SFC, Horizon, Bloom Energy, and FuelCell Energy among others.
- Growth in residential and commercial infrastructure constructions coupled with the innovations and advancements in fuel cell technology is set to boost the Asia Pacific fuel cell market growth .
- Growing requirements for large-scale multi-megawatt systems and power grid networks to supply electricity in remote areas will enhance the stationary fuel cell market growth.
- Increasing interest in energy storage applications and heavy-duty transportation is set to create significant opportunities for the market.