Molten Carbonate Fuel Cells (MCFCs) Market by Application and Geography - Forecast and Analysis 2021-2025

The molten carbonate fuel cells (MCFCS) market share is expected to increase by 107.55 MW from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 26%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (utilities, C and I, and others) and geography (APAC, North America, Europe, MEA, and South America).

The molten carbonate fuel cells (MCFCS) market report also offers information on several market vendors, including Ballard Power Systems Inc., Bloom Energy, Fuji Electric Co. Ltd., Ceres Power Holdings plc, Doosan Fuel Cell Co. Ltd., FuelCell Energy Inc., Panasonic Corp., Plug Power Inc., SFC Energy AG, and Toshiba Energy Systems & Solutions Corp. among others.

Ballard Power Systems Inc. - The company’s product portfolio includes FCveloCity MD, FCgen 1020ACS, and FCgen LCS among others. The operations of the fuel cell products and services segment include the design, development, manufacture, sale, and service of PEMFC products for several applications focusing on markets, including heavy-duty motive, portable power, material handling and backup power, and the delivery of technology solutions.

What will the Molten Carbonate Fuel Cells (MCFCS) Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global molten carbonate fuel cells market as a part of the global speciality chemicals market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the molten carbonate fuel cells (MCFCS) market during the forecast period.

Molten Carbonate Fuel Cells (MCFCS) Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The rise in demand for clean energy is notably driving the molten carbonate fuel cells (MCFCS) market growth, although factors such as high costs associated with the use of MCFCS may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Molten Carbonate Fuel Cells (MCFCS) Market Driver

• One of the key factors driving growth in the molten carbonate fuel cells (MCFCS) market is the increase in investment and support from the government.
• MCFCs are reliable, flexible, and highly efficient and operate as long as the fuel is provided. They require hydrogen to generate power, which can be sourced from multiple feedstocks. This results in no harmful emissions.
• As countries are adopting new technologies to reduce the share of fossil fuel in the energy mix and reduce GHG emissions, the demand for clean technologies such as fuel cells is increasing.
• Fuel cells can efficiently generate electricity and thermal heat. As distributed generation systems, they can partially supplement the grid needs and reduce the load on the grid. Therefore, owing to these benefits of MCFCs, governments are providing funding and incentives to increase their adoption. 

This molten carbonate fuel cells (MCFCS) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Molten Carbonate Fuel Cells (MCFCS) Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the molten carbonate fuel cells (MCFCS) market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Molten Carbonate Fuel Cells (MCFCS) Market?

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43% of the market’s growth will originate from APAC during the forecast period. South Korea (Republic of Korea) is the key market for molten carbonate fuel cells (MCFCS) in APAC. Market growth in this region will be faster than the growth of the market in the European regions.

The demand from South Korea primarily drives the MCFCs market in APAC. The installed fuel cell plants in South Korea primarily supply the nation's electric grid, and the thermal energy generated is typically used to heat and cool the surrounding facilities using the district heating systems. Thus, the growing global district heating market presents huge growth potential for the MCFCs market in APAC. This will facilitate the molten carbonate fuel cells (MCFCS) market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Application Segment in the Molten Carbonate Fuel Cells (MCFCS) Market?

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The molten carbonate fuel cells (MCFCS) market share growth by the utilities segment will be significant during the forecast period. According to International Energy Agency (IEA), the global energy need is expected to increase by 40% by 2040 from 2017. As a result, power utilities are increasingly facing difficulties in accommodating escalating power loads. The utilities are seeking alternatives to traditional power supply modalities owing to concerns such as ageing energy transmission networks, grid congestion, and the development of remote areas. Distributed generation is an ideal solution to supply remote or congested areas with constant power rather than developing expensive transmission systems. Moreover, the demand for clean energy sources to fulfil energy needs due to environmental concerns has provided huge growth opportunities for the global MCFCs market. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the molten carbonate fuel cells (MCFCS) market size and actionable market insights on the post-COVID-19 impact on each segment. 

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What are the Key Data Covered in this Molten Carbonate Fuel Cells (MCFCS) Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive molten carbonate fuel cells (MCFCS) market growth during the next five years
• Precise estimation of the molten carbonate fuel cells (MCFCS) market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the molten carbonate fuel cells (MCFCS) market industry across APAC, North America, Europe, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of molten carbonate fuel cells (MCFCS) market vendors

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