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Singapore Fuel Cell Market 2017-2030: Industry Size, Trends, Share, Demand & Growth Opportunity, Research Analysis & Forecast to 2030
Singapore Fuel Cells Market Market Overview
Recognizing the potential of fuel cell technology, Singapore is pursuing the fuel cell research and deployment aggressively. The attractiveness of the fuel cell technology lies in its huge potential for wide applications, energy efficiency and environment friendly properties. In Singapore many institutes and government are taking various initiatives for the development and faster deployment of fuel cell technology in the country. For instance, in 2010 new Maritime Fuel Cell Research initiative has been launched by the Maritime and Port Authority of Singapore (MPA) in collaboration with Temasek Polytechnic (TP). BY conducting research and development into clean technology, Singapore is significantly contributing to its economy growth.
Goldstein Research analyst forecast the Singapore fuel cells market to grow at a CAGR of 18.1% during the forecast period 2017-2030..
Singapore Fuel Cells Market Segmentation
By Fuel Cell Type
Alkaline Fuel Cell
Phosphoric Acid Fuel Cell
Molten Carbonate Fuel Cell
Solid Oxide Fuel Cell
Proton Exchange Membrane Fuel Cell
Direct Methanol Fuel Cell
Stationary Power Generation
Portable Power generation
Power Generation for Transportation
Based on applications, stationary application accounted for the largest market share of 45% in 2017, while transportation segment is anticipated to be the fastest growing segment over the forecast period attributed to rising adoption of fuel cell technology in public transports and passenger cars.
Singapore fuel cells Market Outlook 2017-2030, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Singapore fuel cell market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Singapore fuel cells market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Covered in this Singapore fuel cells market report
The report covers the present ground scenario and the future growth prospects of the Singapore fuel cells market for 2017-2030 along with the total revenue of fuel cell industry in every region. We calculated the market size and revenue share on the basis of revenue generated per segment and region on country level. The revenue forecast is given on the basis of number of fuel cell manufacturers and current growth rate of the market
Key Market Players
Our Singapore fuel cells market report comprises of the following companies as the key players in the Singapore fuel cells market:
Horizon Fuel Cell Technologies
HES Energy Systems
EFOY Fuel Cells
Nuvera Fuel Cells
AFC Energy PlC
Fuel Cell Energy
Ballard Power Systems
According to our Singapore fuel cells market study on the basis of extensive primary and secondary research, one major trend in the market is strategic partnership to strengthen the market growth. The Singapore fuel cell industry is likely to witness public-private partnerships which are anticipated to be critical for attaining an economically viable technological shift.
According to the report, major driver in Singapore fuel cells market is rapid adoption of fuel cell technology for various applications such stationary power backup units and portable power banks for individual consumers. Additionally, fuel cell applications include personal electronics, portable products and consumer products such as laptops, mobile phones and other devices are expected to drive the demand for portable power applications.
Further, the report states that one challenge in Singapore fuel cells market is the high cost of fuel cells which is the major factor hindering the growth of this innovative technology and its mass adoption.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.