Fuel Cell Market Specifications, Drivers, Product Scope and
Shares Forecast by 2025
“The fuel cell market is expected to experience the growth in the number of
private-public relationships to provide cost efficiency and facilitate a suitable
platform for a technological shift.”
Industry Insights
The Global Fuel Cell Market was valued at USD 3.21 billion in 2016. The product’s ability to power various
portable device and machines running on batteries, as well as high benefits over the conventional technologies
concerning emission, is most likely to propel the fuel cell industry in the upcoming years.
Owing to the strict government regulations in the developed economies such as Europe and U.S., to reduce the
emissions coupled with the technological advancements to support the existing electric grids is expected to
boost the growth over the forecast period.
High price can be a hindering factor for the market growth. However, rapid technical advancements are being
made to cut down the overall cost of the product. Improving durability and reducing cost are the two principal
challenges to the product commercialization. Companies are mostly focused on developing new materials to
reduce cost and increase efficiency.
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The fuel cell market is expected to experience the growth in the number of private-public relationships to
provide cost efficiency and facilitate a suitable platform for a technological shift. Reorganizing the businesses