According to Goldstein Research, “Favourable government initiatives and polices for the adoption of sustainable energy alternatives for power generation and the growth of electric vehicles market in China showcase the huge growth opportunities for the fuel cell market in the region.” Moreover, technological advancements coupled with commercialization of fuel cell have strengthening the demand for fuel cells in China.
Rapidly Growing Electric Vehicles Market: Major Boost
China has been shifting its public transport towards the more sustainable fuel alternatives such as electric vehicles and fuel cell technology. For instance, Ballard Power Systems signed a strategic collaboration with Xiamen King Long United Automotive Industry Co., Ltd. To design and deploy fuel-cell powered buses, initially in China and eventually in King Lon’s global network. Such initiative and partnership with automobile manufacturers is likely to impel the growth of fuel cell market in China.
China fuel cell market report contains detailed overview of the China fuel cell market in terms of market segmentation by fuel cell type and by applications.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
China Fuel Cell Market Report provides competitive outlook of some of the major players which includes profiling of companies such as Panasonic Corporation, Hitachi Chemical Co. Ltd., BAK Group, Johnson Controls, Inc., Samsung SDI Co. Ltd., LG Chem Power Inc., Toshiba Corporation., A123 Systems LLC., Saft Groupe SA etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
China Fuel Cell Market Outlook 2024
The China fuel cell market is segmented based on fuel cell type and by application. Application segment is further bifurcated into stationary power generation, portable power generation, power generation for transportation. Power generation for transportation accounted for the highest revenue share of more than 70%, owing to fuel cell technology adoption in public transportation of China.
China Fuel Cell market is expected to grow at a CAGR of 11.7% during the period 2016-2024. Further, the China Fuel Cell market is predicted to reach USD 8.5 million by the end of forecast period.
Tier-1 cities of china accounted for the highest share fuel cell market in China owing to presence of major players and deployment of public transport buses powered by fuel cells. Tier-1 cities of china accounted for more than USD 3.1 million of revenue share in 2016 which is likely to surpass 7.0 million by 2024.
Overall, the report represents comprehensive synopsis on the China fuel cell market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.
Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Backed up by reliable research and impactful statistics, our business solutions empower our clients to grow at a fast pace despite unsettling fluctuations in the market. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.