NEW YORK, May 3, 2021 /PRNewswire/ —
The phosphoric acid fuel cell market is projected to grow by USD 1.76 billion, at a CAGR of almost 20% during 2021-2025, as per the latest market research report by Technavio. This report offers exclusive analysis on the market drivers, trends, challenges, and opportunities to be leveraged by stakeholders from utilities sector for making informed business and investment-related decisions. Technavio has also monitored the impact and outcome of COVID-19 pandemic on the phosphoric acid fuel cell market during the forecast period.
Driver and Trend Analysis
The rising demand for energy across the globe has boosted the adoption of technologies including micro-CHP and auxiliary power units. In addition, phosphoric acid fuel cells are also widely being used for power generation. Furthermore, distribution energy generation utilizes a range of technologies including micro CHP systems. These systems are further expected to use phosphoric acid fuel cells for power generation, in turn, driving the growth of the market.
View Technavio’s 120-page ToC and 103 Exhibits on «Phosphoric acid fuel cell Market by Application (prime power, CHP, and others) and geography (APAC and ROW) and Vendor Forecasts, 2021 – 2025»
«Japan and China are the key markets for the phosphoric acid fuel cell market in APAC.», as per Technavio.
This market research report fragments the global phosphoric acid fuel cell market by application (prime power, CHP, and others) and geography (APAC and ROW).
- The prime power application segment was the largest revenue-generating platform segment of the phosphoric acid fuel cell market in 2020. With the growth in the demand for electricity from the industrial and commercial sectors, coupled with the rising demand for adoption of clean energy sources, the global phosphoric acid fuel cell market by prime power is expected to grow during the forecast period.
- 99% of the phosphoric acid fuel cell market growth will be generated from APAC. The growth in energy demand from developing countries will facilitate the phosphoric acid fuel cell market growth in APAC over the forecast period.
The phosphoric acid fuel cell market is concentrated. Several players in the market striving to provide superior products by differentiating them either based on quality or service. Vendors are deploying various organic and inorganic growth strategies to survive market competition. This report classifies key market players as dominant, pure-play and industry-focused players to offer effective investment opportunities and allow clients to take informed decisions.
Leading Phosphoric acid fuel cell Market Players are:
- Bharat Heavy Electricals Ltd.
- Doosan Corp.
- Fuji Electric Co. Ltd.
- Toshiba Energy Systems & Solutions Corp.
Prominent Queries Pertaining to Phosphoric Acid Fuel Cell Market 2021-2025
- COVID-19 pandemic impact analysis on the market during the forecast period
- Detailed information on factors assisting phosphoric acid fuel cell market growth
- Estimation of the phosphoric acid fuel cell market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- Investment opportunities in phosphoric acid fuel cell market
- Vendor landscape analysis and detailed information on vendors
- COVID-19 combating techniques of the market vendors
- Comprehensive details of common threats expected to limit the growth of phosphoric acid fuel cell market vendors
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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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