Global Fuel Cell Market is expected to reach USD 24.81 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for unconventional energy sources is one of the key factors driving the global fuel cell market. Fuel cell is one of the fastest growing alternate backup power options primarily due to the utilization of hydrogen as fuel. In addition, they are eco-friendly as their by-product is harmless in nature, unlike other conventional technologies.
On the basis of policy development, China is still lagging but shows tremendous promise in the near future as the majority of the Chinese fuel cell manufacturers have been focusing to develop proton exchange membrane fuel cells. This implies the focus of the country to incorporate fuel cells in various modes of transport.
The market is expected to witness strategic alliances to expand the end user segment in emerging markets. Public – private partnerships will be critical in attaining an economically viable technological shift. Introducing cleaner technologies to substitute existing methodologies is expected to incur high costs which are expected to challenge the innovative streak of the key market players.
Access for full Detail of Report and complete TOC: http://www.grandviewresearch.com/industry-analysis/fuel-cell-market
Further key findings from the report suggest:
View Blog on Fuel Cell Market by Grand View Research: http://www.grandviewresearch.com/blog/fuel-cell-market
Grand View Research has segmented the fuel cell market on the basis of product, application and region:
Product Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2014 – 2025)
Application Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2014 – 2025)
Regional Outlook (Volume, Kilo Tons; Capacity, Mega Watt; Revenue, USD Million, 2014 – 2025)
Middle East and Africa
Central & South America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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