NEW YORK, June 21, 2022 /PRNewswire/ — The Phosphoric Acid Fuel Cell Market report analyzes the market’s competitive landscape and offers information on several market vendors, including: Bharat Heavy Electricals Ltd., Doosan Corp., Fuji Electric Co. Ltd., and Toshiba Energy Systems & Solutions Corp. The market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market. Companies like Bharat Heavy Electricals Ltd. offers 50-kilowatt phosphoric acid fuel cell for various applications. Moreover, the Phosphoric Acid Fuel Cell Market value is set to grow by USD 1.76 billion, progressing at a CAGR of 19.83% from 2020 to 2025, as per the latest report by Technavio.
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Regional Market Outlook
The Phosphoric Acid Fuel Cell Market is segmented by geography (APAC and ROW). 100% of the market’s growth will originate from APAC during the forecast period. Japan and China are the key markets for the phosphoric acid fuel cell market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growing demand for energy and the development of hydrogen and fuel cell technologies will facilitate the phosphoric acid fuel cell market growth in APAC over the forecast period.
| Phosphoric Acid Fuel Cell Market Scope | |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2020 |
| Forecast period | 2021-2025 |
| Growth momentum & CAGR | Accelerate at a CAGR of 19.83% |
| Market growth 2021-2025 | $ 1.76 billion |
| Market structure | Concentrated |
| YoY growth (%) | 19.17 |
| Regional analysis | APAC and ROW |
| Performing market contribution | APAC at 100% |
| Key consumer countries | South Korea (Republic of Korea), Japan, China, US, and Germany |
| Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
| Companies profiled | Bharat Heavy Electricals Ltd., Doosan Corp., Fuji Electric Co. Ltd., and Toshiba Energy Systems & Solutions Corp. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Phosphoric Acid Fuel Cell Market Driver:
- Rise in global energy demand:
- There is a strong growth in the global energy demand owing to robust economic growth. It is propelled by countries such as China, the US, and India, which contribute more than 40% to the growth. Also, according to the IEA, the global electricity demand increased twofold during 1990-2016 and outpaced the growth in demand for other fuel sources. Compared to 2017, the global electricity demand is expected to grow twofold than the global energy demand, which is expected to rise by more than 25% by 2040. As of 2020, in India, the demand for electricity was growing at around 5% per year, owing to the country’s aim of achieving universal electricity access by 2025. According to the IEA, the global population is expected to grow over nine billion by 2040. As a result, with the growth in population and economic activities, the demand for electricity is expected to grow significantly during the forecast period.
Phosphoric Acid Fuel Cell Market Trend:
- Favorable government regulation:
- Phosphoric acid fuel cells are primarily used for stationary power applications in the form of micro-CHP systems and APUs, particularly in the residential and commercial sectors. In order to boost the adoption of clean energy sources such as micro-CHP systems in the residential and commercial sectors, government agencies across the world have put forth several regulations. For instance, Germany is undertaking measures for decarbonizing the economy to deal with climate change. The government has put forth several regulations and is offering incentives to support alternative and efficient power generation sources. Moreover, in order to minimize the administrative burden of installing micro-CHP systems, owners with an installed capacity of up to 2 kW are eligible to receive CHP surcharge payments as a flat one-time payment, corresponding to a subsidy of $2.75 per kW (2.4 per kW). PACE is a major EU project that aims at deploying the latest smart energy solutions of fuel cell micro-cogeneration at a large scale for private homes in Europe. Hence, owing to such regulations and initiatives undertaken by government agencies to boost the adoption of fuel cell-based micro-CHP systems across the world, the global phosphoric acid fuel cell market is expected to grow during the forecast period.
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Table of Contents
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- 2.2 Market characteristics
- Exhibit 02: Market characteristics
- 2.3 Value chain analysis
- Exhibit 03: Value chain analysis- Utilities market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 – 2025
- Exhibit 06: Global – Market size and forecast 2020 – 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 – 2025 (%)
4 Five Forces Analysis
- 4.1 Five Forces Analysis
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition – Five forces 2020
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 15: Application – Market share 2020-2025 (%)
- 5.2 Comparison by Application
- Exhibit 16: Comparison by Application
- 5.3 Prime power – Market size and forecast 2020-2025
- Exhibit 17: Prime power – Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Prime power – Year-over-year growth 2020-2025 (%)
- 5.4 CHP – Market size and forecast 2020-2025
- Exhibit 19: CHP – Market size and forecast 2020-2025 ($ million)
- Exhibit 20: CHP – Year-over-year growth 2020-2025 (%)
- 5.5 Others – Market size and forecast 2020-2025
- Exhibit 21: Others – Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Others – Year-over-year growth 2020-2025 (%)
- 5.6 Market opportunity by Application
- Exhibit 23: Market opportunity by Application
6 Customer Landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 25: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 26: Geographic comparison
- 7.3 APAC – Market size and forecast 2020-2025
- Exhibit 27: APAC – Market size and forecast 2020-2025 ($ million)
- Exhibit 28: APAC – Year-over-year growth 2020-2025 (%)
- 7.4 ROW – Market size and forecast 2020-2025
- Exhibit 29: ROW – Market size and forecast 2020-2025 ($ million)
- Exhibit 30: ROW – Year-over-year growth 2020-2025 (%)
- 7.5 Key leading countries
- Exhibit 31: Key leading countries
- 7.6 Market opportunity by geography
- Exhibit 32: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 33: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Vendor landscape
- Exhibit 34: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 35: Landscape disruption
- Exhibit 36: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 37: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 38: Market positioning of vendors
- 10.3 Bharat Heavy Electricals Ltd.
- Exhibit 39: Bharat Heavy Electricals Ltd. – Overview
- Exhibit 40: Bharat Heavy Electricals Ltd. – Business segments
- Exhibit 41: Bharat Heavy Electricals Ltd. – Key news
- Exhibit 42: Bharat Heavy Electricals Ltd. – Key offerings
- Exhibit 43: Bharat Heavy Electricals Ltd. – Segment focus
- 10.4 Doosan Corp.
- Exhibit 44: Doosan Corp. – Overview
- Exhibit 45: Doosan Corp. – Business segments
- Exhibit 46: Doosan Corp. – Key offerings
- Exhibit 47: Doosan Corp. – Segment focus
- 10.5 Fuji Electric Co. Ltd.
- Exhibit 48: Fuji Electric Co. Ltd. – Overview
- Exhibit 49: Fuji Electric Co. Ltd. – Business segments
- Exhibit 50: Fuji Electric Co. Ltd. – Key news
- Exhibit 51: Fuji Electric Co. Ltd. – Key offerings
- Exhibit 52: Fuji Electric Co. Ltd. – Segment focus
- 10.6 Toshiba Energy Systems & Solutions Corp.
- Exhibit 53: Toshiba Energy Systems & Solutions Corp. – Overview
- Exhibit 54: Toshiba Energy Systems & Solutions Corp. – Product and service
- Exhibit 55: Toshiba Energy Systems & Solutions Corp. – Key news
- Exhibit 56: Toshiba Energy Systems & Solutions Corp. – Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 57: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 58: Research Methodology
- Exhibit 59: Validation techniques employed for market sizing
- Exhibit 60: Information sources
- 11.4 List of abbreviations
- Exhibit 61: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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