Phosphoric Acid Fuel Cell Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR70534
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The phosphoric acid fuel cell market has the potential to grow by USD 1.76 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 19.83%.

This phosphoric acid fuel cell market research report provides valuable insights on 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 (prime power, CHP, and others) and geography (APAC and ROW). The phosphoric acid fuel cell market report also offers information on several market vendors, including Bharat Heavy Electricals Ltd., Doosan Corp., Fuji Electric Co. Ltd., and Toshiba Energy Systems & Solutions Corp. among others.

What will the Phosphoric Acid Fuel Cell Market Size be in 2021?

Phosphoric Acid Fuel Cell Market Size

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Phosphoric Acid Fuel Cell Market: Key Drivers and Trends

The rise in global energy demand is notably driving the phosphoric acid fuel cell market growth, although factors such as competition from other fuel cells may impede the market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the phosphoric acid fuel cell market industry get your FREE report sample now.

  • With the increasing population and economic activities, the demand for electricity will also increase.
  • Digitalization of modern economies, the growing number of electronically connected devices, and the electrification of heat and transportation sectors have further contributed to the increasing demand for energy services.
  • The demand for energy from both residential and commercial sectors has boosted the adoption of technologies such as micro-CHP and auxiliary power units. PAFC is widely used in these technologies for power generation.
  • The rise in global energy demand will increase the adoption of such technologies, driving phosphoric acid fuel cell market growth.
  • Several benefits of distributed energy generation over conventional power generation have boosted its popularity among end-users.
  • Distributed energy generation does not have perceived externalized costs, aging and deterioration concerns, and capacity constraints on power transmission and distribution.
  • Distributed energy generation provides significant economic and environmental advantages over centralized power generation plants.
  • Distributed energy generation utilizes a range of technologies including micro CHP systems. These micro CHP systems use phosphoric acid fuel cells for power generation.
  • With the increasing adoption of distributed power generation, the demand for PAFC will also grow driving phosphoric acid fuel cells market growth.

This phosphoric acid fuel cell market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Phosphoric Acid Fuel Cell Market Vendors?

The 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.
  • Toshiba Energy Systems & Solutions Corp.

 

The phosphoric acid fuel cell market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the phosphoric acid fuel cell market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Phosphoric Acid Fuel Cell Market?

Phosphoric-Acid-Fuel-Cell-Market-Market-Share-by-Region-2020-2025

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South Korea (Republic of Korea), 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 growth in energy demand from developing countries will facilitate the phosphoric acid fuel cell market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the Phosphoric Acid Fuel Cell Market?

Phosphoric-Acid-Fuel-Cell-Market-Market-Share-by-Application-2020-2025

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With the growth in the demand for electricity from the industrial and commercial sectors, coupled with the rising demand for the adoption of clean energy sources, the global phosphoric acid fuel cell market by prime power is expected to grow during the forecast period. Phosphoric acid fuel cells are employed as primary sources of power in facilities such as hospitals, hotels, buildings, and utilities across the world. Also, phosphoric acid fuel cells are reliable and tested for long operating hours. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the phosphoric acid fuel cell market size.

 

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What are the Key Factors Covered in this Phosphoric Acid Fuel Cell Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive phosphoric acid fuel cell market growth during the next five years
  • Precise estimation of the phosphoric acid fuel cell market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the phosphoric acid fuel cell industry across APAC and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of phosphoric acid fuel cell market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The phosphoric acid fuel cell market growth will increase by $1765.00 million during 2020-2025.
The phosphoric acid fuel cell market is expected to grow at a CAGR of 19.83% during 2020-2025.
Technavio has segmented the phosphoric acid fuel cell market by application (Prime power, CHP, and Others) and geographic (APAC and ROW).
Bharat Heavy Electricals Ltd., Doosan Corp., Fuji Electric Co. Ltd., Toshiba Energy Systems & Solutions Corp. are a few of the key vendors in the phosphoric acid fuel cell market.
APAC will register the highest growth rate of 99.65% among the other regions. Therefore, the phosphoric acid fuel cell market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • South Korea (Republic of Korea)
  • Japan
  • China
  • US
  • Germany
The key factors driving the phosphoric acid fuel cell market growth are:
  • Rise in global energy demand
The phosphoric acid fuel cell market vendors should focus on grabbing business opportunities from the prime power segment as it accounted for the largest market share in the base year.
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