Fuel Cell Market Analysis By Application, Size, Share, Trend, Competition, Future Growth, Opportunities and Forecast 2026
Global fuel cell market stood at around $ 2606.16 million in 2019 and is forecast to grow at a CAGR of over 18% by 2026, owing to increasing public-private partnership for development of fuel cell technology and rising demand for fuel cell powered vehicles, including FCEV (Fuel Cell Electric Vehicles), forklift, trains, etc. Research & development on fuel cell technology along with increasing focus on reducing carbon emissions is further fueling demand for fuel cells across the globe. Additionally, fuel cell & hydrogen alliances driving collaboration between organizations coupled with increasing focus on phasing out of ICE (Internal Combustion Engine) vehicles is further anticipated to accelerate growth in global fuel cell market in the next five years. Global fuel cell market is segmented based on application, type, region, and company. Based on regional analysis, Asia-Pacific region is expected to dominate the global fuel cell market during the forecast period. China, Japan,...