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Europe Fuel Cell Market, By Product (PEMFC, PAFC, SOFC, MCFC); By Application (Stationary, Transportation, Portable); By Country (Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, The Netherlands, Rest of Europe), Trend Analysis, Competitive

Publisher BlueWeave Consulting
Published Nov 29, 2023
Length 200 Pages
SKU # BLWC18529129

Description

Middle East and Africa Transformer Market, By Power Rating (Large, Medium-sized, Small); By Cooling Type (Air-Cooled, Oil-Cooled); By Transformer Type (Power Transformer, Distribution Transformer); By Country (Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, Rest of MEA), Trend Analysis, Competitive Landscape & Forecast, 2019–2029


Europe Fuel Cell Market Size Zooming 4.5X at Robust CAGR of 28.45% to Touch USD 10 Billion by 2029

Europe fuel cell market is flourishing because of an increasing demand for clean energy sources and expanding applications

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Europe fuel cell market size at USD 2.2 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Europe fuel cell market size to expand at a robust CAGR of 28.45% reaching a value of USD 9.88 billion by 2029. Major growth drivers for the Europe fuel cell market include an increasing government initiatives and growing adoption of EU frameworks supporting technology. Public-private partnerships and substantial R&D investments fuel market expansion, with fuel cells widely applied in transportation, power generation, logistics, automotive, medical, military, and energy sectors. Environmental considerations and Europe's low-carbon economy goal boost the adoption of eco-friendly fuel cells. Various European countries, backed by government funding and collaborations with private investors, show high adaptability to fuel cells. Specific initiatives in the UK, venture capital in France, and local organizations in Germany, Spain, and Italy drive market growth. Russia leads in fuel cell usage, emphasizing extensive research across applications like electric vehicles, portable devices, and hydrogen refueling stations. However, limited refueling infrastructure is anticipated to restrain the overall market growth during the forecast period.

Europe Fuel Cell Market – Overview

Europe fuel cell market refers to the industry and commercial activities associated with the production, development, and utilization of fuel cells in European countries. A fuel cell is an electrochemical device that converts chemical energy from a fuel into electrical energy through a reaction between the fuel and an oxidizing agent. The market encompasses various sectors, including transportation, power generation, logistics, automotive, medical, military, and energy. The growth of the market is influenced by factors such as government initiatives, European Union frameworks, Public-Private partnerships, research and development investments, and the increasing adoption of environmentally friendly fuel cells to achieve a low-carbon economy. The adaptability and market dynamics vary among European countries, with each nation contributing to the overall development and application of fuel cell technology.

Impact of COVID-19 on Europe Fuel Cell Market

COVID-19 pandemic had a mixed impact on the Europe fuel cell market. Supply chain interruptions, workforce constraints, and economic uncertainties affected manufacturing and project timelines. Travel restrictions hampered international collaborations and delayed research and development activities. However, the pandemic underscored the importance of sustainable energy solutions, potentially driving increased interest in fuel cell technology as part of green recovery initiatives. Government stimulus packages aimed at economic recovery, coupled with a heightened focus on environmental sustainability, may contribute to the resilience and future growth of the Europe fuel cell market post-pandemic.

Europe Fuel Cell Market – By Application

By nature, the Europe fuel cell market is divided into Stationary, Transportation, and Portable segments. The transportation segment holds the highest share in the Europe fuel cell market by application. Fuel cells are well-suited for heavy-duty transportation like buses, trucks, and trains, addressing challenges of high energy demands and long ranges not easily met by battery-electric solutions. Offering zero-emission operation, fuel cells contribute to global efforts to decarbonize the transportation sector. While the number of fuel-cell electric vehicles is modest, Germany leads with 34 registrations in 2022, highlighting early-stage adoption and substantial growth potential. Leveraging existing infrastructure, hydrogen fueling stations can integrate into gas stations for a faster rollout compared to electric charging infrastructure. Europe's confirmation to ban new petrol and diesel cars by 2035 is expected to drive sales of fuel-cell electric vehicles, given the region's significant automotive market.

Competitive Landscape

Major players operating in the Europe fuel cell market include FuelCell Energy, Inc., Ballard Power Systems, Hydrogenics Corporation, SFC Energy AG, Nedstack Fuel Cell Technology B.V., Bloom Energy, and Doosan Fuel Cell America, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Fuel Cell Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Fuel Cell Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Table of Contents

200 Pages
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Europe Fuel Cell Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Growing demand for clean energy sources
3.2.1.2. Expanding applications
3.2.2. Restraints
3.2.2.1. Limited refueling infrastructure
3.2.3. Opportunities
3.2.3.1. Advancement in Technology
3.2.4. Challenges
3.2.4.1. Technical challenges
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Europe Fuel Cell Market Overview
4.1. Market Size& Forecast, 2019–2029
4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
4.2.1. By Product
4.2.1.1. PEMFC
4.2.1.2. PAFC
4.2.1.3. SOFC
4.2.1.4. MCFC
4.2.1.5. Others
4.2.2. By Application
4.2.2.1. Stationary
4.2.2.2. Transportation
4.2.2.3. Portable
4.2.3. By Country
4.2.3.1. Germany
4.2.3.2. United Kingdom
4.2.3.3. Italy
4.2.3.4. France
4.2.3.5. Spain
4.2.3.6. Belgium
4.2.3.7. Russia
4.2.3.8. The Netherlands
4.2.3.9. Rest of Europe
5. Germany Fuel Cell Market
5.1. Market Size & Forecast, 2019–2029
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Product
5.2.2. By Application
6. United Kingdom Fuel Cell Market
6.1. Market Size & Forecast, 2019–2029
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Product
6.2.2. By Application
7. Italy Fuel Cell Market
7.1. Market Size & Forecast, 2019–2029
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Product
7.2.2. By Application
8. France Fuel Cell Market
8.1. Market Size & Forecast, 2019–2029
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Product
8.2.2. By Application
9. Spain Fuel Cell Market
9.1. Market Size & Forecast, 2019–2029
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Product
9.2.2. By Application
10. Belgium Fuel Cell Market
10.1. Market Size & Forecast, 2019–2029
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1. By Product
10.2.2. By Application
11. Russia Fuel Cell Market
11.1. Market Size & Forecast, 2019–2029
11.1.1. By Value (USD Million)
11.2. Market Share & Forecast
11.2.1. By Product
11.2.2. By Application
12. The Netherlands Fuel Cell Market
12.1. Market Size & Forecast, 2019–2029
12.1.1. By Value (USD Million)
12.2. Market Share & Forecast
12.2.1. By Product
12.2.2. By Application
13. Rest of Europe Fuel Cell Market
13.1. Market Size & Forecast, 2019–2029
13.1.1. By Value (USD Million)
13.2. Market Share & Forecast
13.2.1. By Product
13.2.2. By Application
14. Competitive Landscape
14.1. List of Key Players and Their Offerings
14.2. Europe Fuel Cell Company Market Share Analysis, 2022
14.3. Competitive Benchmarking, By Operating Parameters
14.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
15. Impact of Covid-19 on Europe Fuel Cell Market
16. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
16.1. FuelCell Energy, Inc.
16.2. Ballard Power Systems
16.3. Hydrogenics Corporation
16.4. SFC Energy AG
16.5. Nedstack Fuel Cell Technology B.V.
16.6. Bloom Energy
16.7. Doosan Fuel Cell America, Inc.
16.8. Other Prominent Players
17. Key Strategic Recommendations
18. Research Methodology
18.1. Qualitative Research
18.1.1. Primary & Secondary Research
18.2. Quantitative Research
18.3. Market Breakdown & Data Triangulation
18.3.1. Secondary Research
18.3.2. Primary Research
18.4. Breakdown of Primary Research Respondents, By Country
18.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Europe Fuel Cell Segmentation
Figure 2 Europe Fuel Cell Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Europe Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 5 Europe Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 6 Europe Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 7 Europe Fuel Cell Market Share, By Country, By Value, 2019–2029
Figure 8 Germany Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 9 Germany Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 10 Germany Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 11 United Kingdom Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 12 United Kingdom Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 13 United Kingdom Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 14 Italy Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 15 Italy Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 16 Italy Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 17 France Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 18 France Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 19 France Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 20 Spain Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 21 Spain Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 22 Spain Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 23 Belgium Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 24 Belgium Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 25 Belgium Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 26 Russia Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 27 Russia Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 28 Russia Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 29 The Netherlands Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 30 The Netherlands Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 31 The Netherlands Fuel Cell Market Share, By Application, By Value, 2019–2029
Figure 32 Rest of Europe Fuel Cell Market Size, By Value (USD Million), 2019–2029
Figure 33 Rest of Europe Fuel Cell Market Share, By Product, By Value, 2019–2029
Figure 34 Rest of Europe Fuel Cell Market Share, By Application, By Value, 2019–2029
List of Tables
Table 1 Europe Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 2 Europe Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 3 Europe Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 4 Europe Fuel Cell Market Size, By Country, By Value, 2019–2029
Table 5 Germany Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 6 Germany Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 7 Germany Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 8 United Kingdom Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 9 United Kingdom Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 10 United Kingdom Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 11 Italy Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 12 Italy Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 13 Italy Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 14 France Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 15 France Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 16 France Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 17 Spain Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 18 Spain Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 19 Spain Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 20 Belgium Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 21 Belgium Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 22 Belgium Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 23 Russia Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 24 Russia Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 25 Russia Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 26 The Netherlands Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 27 The Netherlands Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 28 The Netherlands Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 29 Rest of Europe Fuel Cell Market Size, By Value (USD Million), 2019–2029
Table 30 Rest of Europe Fuel Cell Market Size, By Product, By Value, 2019–2029
Table 31 Rest of Europe Fuel Cell Market Size, By Application, By Value, 2019–2029
Table 32 FuelCell Energy, Inc. Company Overview
Table 33 FuelCell Energy, Inc. Financial Overview
Table 34 Ballard Power Systems Company Overview
Table 35 Ballard Power Systems Financial Overview
Table 36 Hydrogenics Corporation Company Overview
Table 37 Hydrogenics Corporation Financial Overview
Table 38 SFC Energy AG Company Overview
Table 39 SFC Energy AG Financial Overview
Table 40 Nedstack Fuel Cell Technology B.V. Company Overview
Table 41 Nedstack Fuel Cell Technology B.V. Financial Overview
Table 42 Bloom Energy Company Overview
Table 43 Bloom Energy Financial Overview
Table 44 Doosan Fuel Cell America, Inc. Company Overview
Table 45 Doosan Fuel Cell America, Inc. Financial Overview

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