The Global Fuel Cell Bipolar Plate Market is expected to grow at a double digit CAGR between 2021-2027 to cross USD 2 billion by 2027.
A comprehensive overview of the global fuel cell bipolar plate market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the fuel cell bipolar plate market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global fuel cell bipolar plate market at regional and country levels.
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The global fuel-cell market is gaining momentum as the mobility industry transitions to zero-emission vehicles and increasing government’s concerns across the globe focus on hydrogen-based economy. For instance, new industrial strategy for Europe, set targets in the first phase, from 2020 up to 2024, to install at least 6 GW of renewable hydrogen electrolysers in the EU and the production of up to 1 million tons of renewable hydrogen. In addition, in 2019, the global sales of fuel cell vehicles were nearly 7,500 units, an approximate increase of 35% over 2018. It is estimated that by 2030, the production scale and sales of hydrogen FCV will reach benchmark of 500,000 in China. Moreover, companies like Apple Inc. and Microsoft Co. have installed 10MW and 300KW respectively fuel cell to power their data centers.
During the Covid-19 pandemic in the early 2020, majority of the countries and region witnessed a country wide lockdown. Countries had imposed shut down of manufacturing facilities to reduce the spread of Covid-19 which led to decline in demand of fuel cell This has halted the research & development activity related to bipolar plate market and lower the demand from end use industry like automotive.
Global fuel cell bipolar plate market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
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By material, the market is primarily bifurcated into:
- Carbon Composite
Based on material, the Global Fuel Cell Bipolar Plate Market is divided into graphite, metal, carbon composite. Foil-based graphite bipolar plate which is advanced type of graphite holds a considerable market share owing to production of thin-walled graphite bipolar plates that delivers low corrosion and high electrical and thermal conductivity. Further, by the end of forecast period metal-based fuel cells are likely to showcase influential growth rate in the near-term, metal-based fuel cells would replace backup generators, which are currently driven by internal combustion engines.
By application, the market is mainly segmented into:
- Proton exchange membrane fuel cell
- Solid oxide fuel cell
- Phosphoric acid fuel cell
- Molten carbonate fuel cell
- Direct methanol fuel cell
In 2020, proton exchange membrane fuel cell held significant market share as they can operate at relatively low temperatures and can quickly vary their output to meet shifting power demands.
Global Fuel Cell Bipolar Plate Market Geographical Segmentation Includes:
- North America (United States, Canada, Rest of North America)
- Europe (Germany, UK, France, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
- Rest of World
Based on the estimation, Asia Pacific dominated the market in 2020. Asia Pacific with countries such as China, Japan, South Korea, India, Australia among others is expected to witness high demand for fuel cell bipolar plate owing to growing awareness of clean energy among population and industrial sector in the region.
The major players targeting the market includes:
- Entergris POCO Materials
- Interplex Holdings Pte. Ltd.
- Shanghai Hongfeng Industrial Co., Ltd.
- Ballard Power Systems Inc.
- Dana Limited
- Cell Impact
- Impact Coatings AB
- PRAGMA INDUSTRIES
- TECHNICAL FIBRE PRODUCTS
- Schunk Carbon Technology
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analyst sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global fuel cell bipolar plate market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the global fuel cell bipolar plate market?
- Which factors are influencing the global fuel cell bipolar plate market over the forecast period?
- What are the global challenges, threats, and risks in the global fuel cell bipolar plate market?
- Which factors are propelling and restraining the global fuel cell bipolar plate market?
- What are the demanding global regions of the global fuel cell bipolar plate market?
- What will be the market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by the companies?
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