Market World Fuel Cell Market | Page 3

The portable power plant is used in portable products, APU, personal products & consumer goods like mobile phones, laptops, and other portable devices. The demand for this segment is expected to rise mostly for remote power applications. Regional Insights Due to the strict government regulations in the developed region such as North America, it is most likely to develop as the leading market for fuel cells regarding installed capacity. In 2015, it accounted for about 50% of the global installed capacity and was also predicted to continue the trend over the next six years on account of rapid commercialization and technology adoption of hydrogen-powered commercial vehicles. North America is projected to grow at an estimated CAGR of 25% between 2016 to 2025. In terms of unit shipment, Asia-Pacific is likely to emerge as the leading sector. Japan is the major participant dealing fuel cells followed by South Korea. Owing to the enormous demand for combined heat and power systems in Japan and many other countries in the region, the segment is expected to register a rapid growth. European region to provide a slicker technological shift will result in encouraging public-private partnership. This will facilitate Europe to reach their target of emerging low carbon economy and also keep a competitive edge over the fast-growing regions such as Japan, China, etc. Competitive Insights The market is highly consolidated with the top companies accounting for more than 80% of the total market share. Increase in the budget for the research and development as well as continues stimulant for the product, the hydrogen energy is likely to maintain a secure spot in the market. Mergers and acquisition, strategic alliances, and business reorganizations are some of the key strategies adopted by market players to increase the end-user product in different segments. Samsung, Honda, Toyota, and General Motors are the largest companies in the industry with highest fuel cell patents. Other enterprises in the segment include Ballard Power Systems, Plug power, Hydrogenics Corporation, SFC Energy AG, Ceramic Fuel Cells, Ltd., etc. Market Segment: Product Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2014 - 2025) • PEMFC • PAFC