Product Code: GVR-4-68040-347-5
Phosphoric Acid Fuel Cell Market Trends
The global phosphoric acid fuel cell market size was estimated at USD 475.25 million in 2023 and projected to expand at a CAGR of 20.9% from 2024 to 2030. The market is primarily driven by the growing concern of global carbon emissions and the need to transition to cleaner energy sources. Governments worldwide are implementing policies to reduce carbon footprints, which is stimulating the demand for phosphoric acid fuel cells (PAFCs). These fuel cells are particularly well-suited for stationary applications, such as combined heat and power systems, due to their ability to tolerate high levels of carbon monoxide and carbon dioxide, making them versatile for various fuel types.
The increasing deployment of combined heat and power systems is expected to boost the market outlook. The market is also influenced by the need to maintain energy security, especially in the wake of natural disasters, which highlights the importance of reliable and efficient power generation technologies like PAFCs. Furthermore, the technological advancements in PAFCs, including improved stability, performance, and cost-effectiveness, have made them a viable option for early stationary applications, contributing to their growing adoption.
Global Phosphoric Acid Fuel Cell Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented phosphoric acid fuel cell market report based on application and region:
- Application Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)
- Vehicles
- Cogeneration
- Others
- Regional Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)
- North America
U.S.
Canada
Mexico
Germany
UK
Italy
Spain
France
Russia
China
India
Japan
Australia
Brazil
Argentina
Saudi Arabia
South Africa
UAE
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Projects & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (MW) (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Phosphoric Acid Fuel Cell Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospects Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Price Trend Analysis, 2018 to 2030 (USD/W)
- 3.4.1. Key Factors Influencing Pricing
- 3.5. Regulatory Framework
- 3.5.1. Standards & Compliances
- 3.5.2. Regulatory Impact Analysis
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Challenges Analysis
- 3.6.4. Market Opportunity Analysis
- 3.7. Business Environment Analysis
- 3.7.1. Industry analysis - porter's five forces analysis
- 3.7.2. Industry analysis - Pestle analysis
Chapter 4. Phosphoric Acid Fuel Cell Market: Application Estimates & Trend Analysis
- 4.1. Application Movement Analysis & Market Share, 2023 & 2030
- 4.2. Vehicles
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 4.3. Cogeneration
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 4.4. Others
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Chapter 5. Phosphoric Acid Fuel Cell Market: Regional Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 5.3. North America
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.3.3. U.S.
- 5.3.3.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.3.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.3.4. Canada
- 5.3.4.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.3.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.3.5. Mexico
- 5.3.5.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.3.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.4. Europe
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.4.3. Germany
- 5.4.3.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.4.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.4.4. U.K.
- 5.4.4.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.4.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.4.5. France
- 5.4.5.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.4.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.4.6. Italy
- 5.4.6.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.4.6.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.4.7. Spain
- 5.4.7.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.4.7.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.4.8. Russia
- 5.4.8.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.4.8.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.5. Asia Pacific
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.5.3. China
- 5.5.3.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.5.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.5.4. India
- 5.5.4.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.5.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.5.5. Japan
- 5.5.5.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.5.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.5.6. Australia
- 5.5.6.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.5.6.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.6. Central & South America
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.6.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.6.3. Brazil
- 5.6.3.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.6.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.6.4. Argentina
- 5.6.4.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.6.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.7. Middle East & Africa
- 5.7.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.7.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.7.3. Saudi Arabia
- 5.7.3.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.7.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.7.4. South Africa
- 5.7.4.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.7.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
- 5.7.5. UAE
- 5.7.5.1. Market estimates and forecasts, 2018 - 2030 (MW) (USD Million)
- 5.7.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
Chapter 6. Competitive Landscape
- 6.1. Key Players & Recent Developments & Their Impact on the Industry
- 6.2. Key Company/Competition Categorization (Key innovators, Market leaders, emerging players)
- 6.3. List of key Component Suppliers and Channel Partners
- 6.4. Company Market Share & Position Analysis, 2023
- 6.5. Company Heat Map Analysis
- 6.6. Competitive Dashboard Analysis
- 6.7. Strategy Mapping
- 6.7.1. Expansion
- 6.7.2. Collaboration/ Partnerships/ Agreements
- 6.7.3. New Application launches
- 6.7.4. Mergers & Acquisitions
- 6.7.5. Research & Development
- 6.7.6. Others
- 6.8. Company Listing / Profiles
- 6.8.1. Fuji Electric Co., LTD.
- 6.8.1.1. Company Overview
- 6.8.1.2. Financial Performance
- 6.8.1.3. Product Benchmarking
- 6.8.2. Doosan Fuel Cell America, Inc.
- 6.8.2.1. Company Overview
- 6.8.2.2. Financial Performance
- 6.8.2.3. Product Benchmarking
- 6.8.3. Defence Research and Development Organisation (DRDO)
- 6.8.3.1. Company Overview
- 6.8.3.2. Financial Performance
- 6.8.3.3. Product Benchmarking
- 6.8.4. Ingsman Energy and Fuel Cell Research Organization (IEFRO)
- 6.8.4.1. Company Overview
- 6.8.4.2. Financial Performance
- 6.8.4.3. Product Benchmarking
- 6.8.5. Bloom Energy
- 6.8.5.1. Company Overview
- 6.8.5.2. Financial Performance
- 6.8.5.3. Product Benchmarking
- 6.8.6. HyAxiom Inc.
- 6.8.6.1. Company Overview
- 6.8.6.2. Financial Performance
- 6.8.6.3. Product Benchmarking
- 6.8.7. SolidEnergy Systems
- 6.8.7.1. Company Overview
- 6.8.7.2. Financial Performance
- 6.8.7.3. Product Benchmarking
- 6.8.8. Advent Technologies
- 6.8.8.1. Company Overview
- 6.8.8.2. Financial Performance
- 6.8.8.3. Product Benchmarking
- 6.8.9. SFC Energy AG
- 6.8.9.1. Company Overview
- 6.8.9.2. Financial Performance
- 6.8.9.3. Product Benchmarking
- 6.8.10. PowerCell Sweden AB
- 6.8.10.1. Company Overview
- 6.8.10.2. Financial Performance
- 6.8.10.3. Product Benchmarking