#Hydrogen Fuel Cell Vehicle Market share

[marketwire]

Hydrogen Fuel Cell Vehicle Market - Forecast(2024 - 2030)

 Hydrogen Fuel Cell Vehicle Market Size was valued at USD 0.72 billion in 2021. The Hydrogen Fuel Cell Vehicle market industry is projected to grow from USD 1.2 Billion in 2022 to USD 46.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 68.52% during the forecast period (2024–2030). Hydrogen fuel cell vehicles are specially designed vehicles that are powered through hydrogen acting as a fuel and are used to supply power to the electric motors installed within them, thus ensuring emission free vehicle transmission. Vehicle powered with hydrogen fuel cells includes a reverse electrolysis process wherein hydrogen reacts with oxygen, thus producing electricity to power electric motors along with heat and water. The heat & water generated during this process exits through the exhaust as water vapor, thereby leading to zero or no emission.

Key Developments in Hydrogen Fuel Cell Vehicle Industry

In September 2023, Toyota Motor Corporation launched a prototype hydrogen fuel cell electric Hilux. This technology helps to accelerate the development of hydrogen fuel cell solutions to deliver carbon neutrality across the region. It uses core elements from the Toyota Mirai hydrogen fuel cell electric sedan – technology that has proved its quality in almost 10 years of commercial production.

In July 2023, Ballard Power Systems, Inc. signed an agreement with Ford Trucks to supply a fuel cell system as part of the development of a hydrogen fuel cell-powered vehicle prototype. This strategy includes an initial purchase order for 2 FCmoveTM.-XD 120 kW fuel cell engines that are planned to be delivered by Ballard to Ford Trucks in 2023. Furthermore, Ford Trucks plans to develop a Fuel Cell Electric Vehicle (FCEV) F-MAX as part of the project.

In July 2023, Ballard Power Systems, Inc. received orders for a total of 96 hydrogen fuel cell engines from long-standing customer Solaris Bus & Coach sp. z o.o. The purchase orders include 52 fuel cell engines that will power Solaris Urbino hydrogen buses for deployment by public transport in Germany and 44 fuel cell engines that will power Solaris buses in European cities.

In January 2022, General Motors (GM) planned to broaden electrification, by expanding fuel cells beyond vehicles. It also continues to accelerate its growth as a platform innovator and has announced new commercial applications of its HYDROTEC fuel cell technology. HYDROTEC projects, which are currently in development, from heavy-duty trucks to aerospace and locomotives, are being planned for use beyond vehicles for power generation.

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Lack of refueling infrastructure for HFCV

The lack of refueling infrastructure for HFCV in most of the countries is due to the limited number of hydrogen refueling stations. For instance, in 2020, globally the hydrogen refueling stations are less than 800, which hampers the growth of HFCV vehicle sales. Furthermore, in many developing countries such as Brazil, African countries, and other countries limited presence of hydrogen vehicles and high cost for development which are also impact the growth of HFCV market. The development of HFCV in underdeveloped countries is slower than in developed countries.

Rise in adoption of HFCV in development economies

Increase in adoption of clean mobility solutions is observed globally due to climatic changes. Continuous usage of fossil fuels in automobiles is a major factor resulting in climate change. Vehicles that run on alternative fuels, such as natural gas, electricity, biofuel, biodiesel, fuel cell, liquid nitrogen, and dimethyl ether result in lesser carbon emissions. Increasing environmental concerns among consumers, introduction of stringent emission regulations, and launch of advanced vehicles supporting alternative fuels are expected to increase the adoption of alternative fuel and hybrid vehicle market during the forecast period.

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Key players : 

The key players profiled in the hydrogen fuel cell vehicle market share include General Motors Company, HONDA MOTOR Co., Ltd, AUDI AG, Ballard Power Systems, Inc., BMW Group, Daimler AG, Hyundai Motor Group, MAN SE, Toyota Motor Corp., and Volvo Group which have been operating in the industry & are developing strategies & products for the growth of the market.

[vijukumar]

Automotive Market: Trends & Analysis

The global automotive market stands as one of the most significant sectors in the world, representing a cornerstone of the global economy. The market is dynamic, constantly evolving with technological advancements, changing consumer preferences, and regulatory shifts. As of 2024, the automotive industry is navigating through a transformative phase, influenced by the push toward sustainability, advancements in electric vehicles (EVs), and the integration of smart technologies. This blog provides an in-depth analysis of the automotive market, covering its size, growth, key players, prevailing trends, and challenges, culminating in a forward-looking conclusion.

Market Size, Share, and Growth

As of 2023, the global automotive market was valued at approximately USD 3.7 trillion, with projections indicating a steady growth trajectory, anticipated to reach USD 5 trillion by 2030. This growth is primarily driven by the increasing demand for electric vehicles (EVs), technological advancements, and the resurgence of the global economy post-pandemic.

In terms of market share, the automotive market is segmented into passenger vehicles, commercial vehicles, and electric vehicles (EVs). The passenger vehicle segment dominates, accounting for nearly 60% of the market share. However, the electric vehicle segment is witnessing the fastest growth, with a compound annual growth rate (CAGR) of 20% from 2024 to 2030. This surge in EV adoption is fueled by heightened environmental awareness, government incentives, and advancements in battery technology.

The commercial vehicle segment, while growing at a slower pace, remains crucial, particularly in emerging economies where infrastructure development is a priority. The Asia-Pacific region leads the market, contributing to over 40% of the global automotive sales, followed by North America and Europe.

Market Trends

Several key trends are shaping the future of the automotive industry, each contributing to the sector's evolution and expansion:

Electrification and the Rise of EVs: The transition from internal combustion engines (ICE) to electric vehicles is one of the most significant trends in the automotive industry. Governments across the globe are setting ambitious targets for reducing carbon emissions, leading to increased investments in EV infrastructure and incentives for EV adoption. Major automakers like Tesla, Toyota, and Volkswagen are at the forefront of this shift, introducing a range of electric models aimed at both the mass market and premium segments.

Autonomous Driving and Connected Vehicles: The development of autonomous vehicles (AVs) is progressing rapidly, with companies like Waymo, Tesla, and GM’s Cruise making significant strides in self-driving technology. In parallel, the integration of connected vehicle technologies is enhancing vehicle safety, efficiency, and user experience. The Internet of Things (IoT) enables real-time communication between vehicles, infrastructure, and other devices, paving the way for smarter, more efficient transportation systems.

Shared Mobility and Changing Ownership Models: The concept of vehicle ownership is evolving, with a growing trend toward shared mobility solutions. Ride-hailing services, car-sharing, and subscription models are gaining popularity, especially in urban areas. Companies like Uber, Lyft, and Zipcar are leading this shift, offering flexible alternatives to traditional car ownership, which is particularly appealing to younger, urban populations.

Sustainability and Green Technologies: The automotive industry is increasingly focused on sustainability, with a strong emphasis on reducing carbon footprints and utilizing green technologies. Beyond electrification, this includes the adoption of lightweight materials, improved fuel efficiency, and the development of hydrogen fuel cell vehicles. Automakers are also investing in circular economy practices, such as vehicle recycling and the use of renewable energy in manufacturing processes.

Digital Transformation and E-Commerce: The digitalization of the automotive industry is reshaping how vehicles are designed, manufactured, sold, and serviced. E-commerce platforms are playing a crucial role in the automotive retail space, with more consumers opting to purchase vehicles online. This trend is accelerated by the growing influence of digital marketing, virtual showrooms, and online customer support.

Key Market Players and Their Impact

The automotive market is dominated by a few key players, each with a significant share in the global market. These companies are instrumental in shaping industry trends and driving innovation.

Toyota Motor Corporation: Toyota remains the largest automaker globally, with a market share of approximately 10%. The company's strong emphasis on hybrid technology and its gradual transition to electric vehicles have solidified its leadership position. Toyota's global sales in 2023 exceeded 9.5 million units, with significant contributions from its best-selling models like the Corolla and the RAV4.

Volkswagen Group: Volkswagen holds a market share of around 8%, with a robust portfolio that includes brands like Audi, Porsche, and Bentley. The company is heavily invested in electrification, with plans to produce over 50 different electric models by 2025. Volkswagen's ID.4 and ID.3 models are gaining traction in key markets, including Europe and China.

Tesla, Inc.: Tesla continues to be a dominant force in the electric vehicle segment, with a market share of about 3% in the overall automotive market but a commanding 20% share in the global EV market. Tesla's Model 3 and Model Y are among the best-selling electric vehicles worldwide, and the company's focus on innovation and battery technology sets it apart from traditional automakers.

General Motors (GM): GM has a market share of approximately 6%, with a strong presence in North America and China. The company is transitioning toward an all-electric future, with plans to phase out internal combustion engines by 2035. GM's Chevrolet Bolt EV and the upcoming Hummer EV are key models in its electric vehicle lineup.

Hyundai-Kia Automotive Group: With a market share of around 7%, Hyundai-Kia is rapidly expanding its electric vehicle portfolio, aiming to launch 23 new EV models by 2025. The group's focus on hydrogen fuel cell technology, alongside traditional battery electric vehicles, positions it uniquely in the market.

Market Challenges

Despite its robust growth prospects, the automotive market faces several significant challenges:

Supply Chain Disruptions: The global semiconductor shortage has severely impacted automotive production, leading to delays and increased costs. The reliance on a complex, global supply chain makes the industry vulnerable to disruptions caused by geopolitical tensions, natural disasters, and pandemics.

Regulatory Hurdles: Stringent environmental regulations and safety standards vary significantly across regions, creating challenges for automakers in terms of compliance and cost management. The shift towards electric vehicles also requires substantial investments in infrastructure, which is progressing at different rates globally.

Technological Integration: The rapid pace of technological advancements presents a double-edged sword. While it drives innovation, it also requires significant R&D investments and poses challenges in integrating new technologies into existing platforms. Moreover, the race to develop autonomous vehicles is fraught with legal, ethical, and safety concerns that need to be addressed before widespread adoption can occur.

Consumer Adoption Barriers: While the demand for electric vehicles is growing, barriers such as high upfront costs, limited charging infrastructure, and range anxiety continue to hinder widespread adoption, particularly in developing markets. Additionally, the shift in ownership models, from traditional to shared mobility, requires a cultural change that may take time to materialize.

Conclusion

The automotive market is at a pivotal juncture, with the convergence of electrification, autonomous driving, and digitalization driving its transformation. The industry's future will be shaped by how well it navigates the challenges of supply chain disruptions, regulatory pressures, and technological integration. Key players like Toyota, Volkswagen, and Tesla are leading the charge, but the market remains highly competitive, with new entrants and evolving consumer preferences continually reshaping the landscape. As we look ahead, the shift towards sustainable and smart mobility solutions is set to redefine the automotive industry. Companies that can innovate and adapt to these changes will thrive, while those that resist will face increasing challenges. Ultimately, the automotive market's trajectory will be determined by its ability to balance growth with sustainability, ensuring that the industry continues to drive global economic progress while addressing the environmental and societal challenges of the 21st century.

[autoini]

BMW and Toyota Strengthen Partnership to Boost Hydrogen Fuel Cell Development | Autoini

JAKARTA – In a significant move towards a greener future, Toyota Motor Corporation and BMW Group have entered into a new agreement to intensify their collaboration on hydrogen vehicle development. This partnership aims to build a comprehensive hydrogen ecosystem that supports carbon neutrality and offers cleaner mobility solutions. By leveraging their combined expertise, Toyota and BMW are set to accelerate the advancement of fuel cell technology and enhance global infrastructure for hydrogen-powered vehicles.

A New Era for Hydrogen Mobility

Oliver Zipse, Chairman of the Board of Management at BMW AG, emphasized the importance of this collaboration in reshaping the automotive industry. “This joint venture signifies the start of a new chapter for our industry,” Zipse remarked. “It marks the beginning of the age of high-volume hydrogen fuel cell-powered autos.” This partnership is not just a technical alliance but a strategic effort to usher in a new era of sustainable transportation.

Shared Vision for a Sustainable Future

Toyota's CEO, Koji Sato, highlighted that this cooperation aligns with Toyota’s multi-path approach to sustainable mobility. “We want to accelerate our efforts together with BMW and partners in various industries toward a future in which hydrogen energy can support the ecosystem,” Sato stated on the company’s official website on September 6. He emphasized BMW’s similar commitment to greener mobility solutions, underscoring the synergy between the two brands.

This partnership extends beyond merely producing hydrogen-powered vehicles. It encompasses the creation of a broader hydrogen ecosystem, which includes developing infrastructure to support the global adoption of hydrogen as a clean energy source. By fostering a dependable infrastructure, Toyota and BMW aim to facilitate the widespread use of hydrogen fuel cells and promote a sustainable future.

Pioneering Third-Generation FCEV Systems

The agreement between Toyota and BMW involves the development of a third-generation Fuel Cell Electric Vehicle (FCEV) system. This advanced technology will be integrated into each company’s vehicle models, enhancing options for zero-emission transportation. The collaboration will leverage the technological strengths of both companies to increase the accessibility and appeal of hydrogen-powered cars.

The third-generation FCEV system represents a significant leap forward in hydrogen technology. By focusing on advanced fuel cell systems, Toyota and BMW are committed to making hydrogen vehicles more efficient, reliable, and attractive to a broader audience. This initiative will not only provide consumers with more choices but also contribute to the overall goal of reducing carbon emissions.

Roadmap to Mass Production by 2028

A key milestone in this partnership is BMW's plan to introduce its first mass-production hydrogen fuel cell vehicle by 2028. This vehicle will be developed using advanced FCEV technology jointly created with Toyota. The new model is expected to meet high-performance standards while maintaining zero-emission driving capabilities.

The collaboration also aims to achieve cost efficiencies through the consolidation of powertrain units. This approach will help create demand in both the commercial and passenger vehicle markets, making hydrogen vehicles more affordable and accessible. By focusing on mass production and cost reduction, Toyota and BMW are setting the stage for a significant shift in the automotive industry towards hydrogen-powered transportation.

Expanding Hydrogen Infrastructure

In addition to vehicle development, Toyota and BMW are committed to building a robust hydrogen infrastructure to support the anticipated increase in hydrogen vehicle demand. This includes creating a sustainable supply chain and working with key energy-producing companies to establish more hydrogen refueling facilities worldwide.

The partnership seeks to address the infrastructure challenges associated with hydrogen fuel cells. By investing in the development of refueling stations and promoting the use of hydrogen energy, Toyota and BMW are working to overcome barriers to the widespread adoption of hydrogen vehicles.

A History of Collaboration

The collaboration between Toyota and BMW is not new. Since December 2011, the two companies have been working together on technologies related to alternative energies, including hydrogen fuel cells. Their joint efforts have already led to significant advancements, such as the introduction of the BMW iX5 Hydrogen in February. This vehicle, based on the fourth-generation X5 SUV unveiled in 2019, is a key part of BMW’s strategy to enhance hydrogen infrastructure globally.

Conclusion

The deepened partnership between Toyota and BMW represents a strategic move towards a sustainable future powered by hydrogen. With their combined expertise and shared vision, these automotive giants are well-positioned to drive innovation and accelerate the adoption of hydrogen as a viable alternative to fossil fuels. As both companies continue to develop new FCEV technologies and expand supporting infrastructure, the future of hydrogen-powered mobility looks promising. By 2028, we can expect to see significant advancements in hydrogen vehicle technology, offering a cleaner, greener alternative to traditional vehicles.

For more updated information about the automotive market, the latest cars & bikes, Please visit our website https://www.autoini.com

[jcmarchi]

MIT students combat climate anxiety through extracurricular teams

New Post has been published on https://thedigitalinsider.com/mit-students-combat-climate-anxiety-through-extracurricular-teams/

MIT students combat climate anxiety through extracurricular teams

Climate anxiety affects nearly half of young people aged 16-25. Students like second-year Rachel Mohammed find hope and inspiration through her involvement in innovative climate solutions, working alongside peers who share her determination. “I’ve met so many people at MIT who are dedicated to finding climate solutions in ways that I had never imagined, dreamed of, or heard of. That is what keeps me going, and I’m doing my part,” she says.

Hydrogen-fueled engines

Hydrogen offers the potential for zero or near-zero emissions, with the ability to reduce greenhouse gases and pollution by 29 percent. However, the hydrogen industry faces many challenges related to storage solutions and costs.

Mohammed leads the hydrogen team on MIT’s Electric Vehicle Team (EVT), which is dedicated to harnessing hydrogen power to build a cleaner, more sustainable future. EVT is one of several student-led build teams at the Edgerton Center focused on innovative climate solutions. Since its founding in 1992, the Edgerton Center has been a hub for MIT students to bring their ideas to life.

Hydrogen is mostly used in large vehicles like trucks and planes because it requires a lot of storage space. EVT is building their second iteration of a motorcycle based on what Mohammed calls a “goofy hypothesis” that you can use hydrogen to power a small vehicle. The team employs a hydrogen fuel cell system, which generates electricity by combining hydrogen with oxygen. However, the technology faces challenges, particularly in storage, which EVT is tackling with innovative designs for smaller vehicles.

Presenting at the 2024 World Hydrogen Summit reaffirmed Mohammed’s confidence in this project. “I often encounter skepticism, with people saying it’s not practical. Seeing others actively working on similar initiatives made me realize that we can do it too,” Mohammed says.

The team’s first successful track test last October allowed them to evaluate the real-world performance of their hydrogen-powered motorcycle, marking a crucial step in proving the feasibility and efficiency of their design.

MIT’s Sustainable Engine Team (SET), founded by junior Charles Yong, uses the combustion method to generate energy with hydrogen. This is a promising technology route for high-power-density applications, like aviation, but Yong believes it hasn’t received enough attention. Yong explains, “In the hydrogen power industry, startups choose fuel cell routes instead of combustion because gas turbine industry giants are 50 years ahead. However, these giants are moving very slowly toward hydrogen due to its not-yet-fully-developed infrastructure. Working under the Edgerton Center allows us to take risks and explore advanced tech directions to demonstrate that hydrogen combustion can be readily available.”

Both EVT and SET are publishing their research and providing detailed instructions for anyone interested in replicating their results.

Running on sunshine

The Solar Electric Vehicle Team powers a car built from scratch with 100 percent solar energy.

The team’s single-occupancy car Nimbus won the American Solar Challenge two years in a row. This year, the team pushed boundaries further with Gemini, a multiple-occupancy vehicle that challenges conventional perceptions of solar-powered cars.

Senior Andre Greene explains, “the challenge comes from minimizing how much energy you waste because you work with such little energy. It’s like the equivalent power of a toaster.”

Gemini looks more like a regular car and less like a “spaceship,” as NBC’s 1st Look affectionately called Nimbus. “It more resembles what a fully solar-powered car could look like versus the single-seaters. You don’t see a lot of single-seater cars on the market, so it’s opening people’s minds,” says rising junior Tessa Uviedo, team captain.

All-electric since 2013

The MIT Motorsports team switched to an all-electric powertrain in 2013. Captain Eric Zhou takes inspiration from China, the world’s largest market for electric vehicles. “In China, there is a large government push towards electric, but there are also five or six big companies almost as large as Tesla size, building out these electric vehicles. The competition drives the majority of vehicles in China to become electric.”

The team is also switching to four-wheel drive and regenerative braking next year, which reduces the amount of energy needed to run. “This is more efficient and better for power consumption because the torque from the motors is applied straight to the tires. It’s more efficient than having a rear motor that must transfer torque to both rear tires. Also, you’re taking advantage of all four tires in terms of producing grip, while you can only rely on the back tires in a rear-wheel-drive car,” Zhou says.

Zhou adds that Motorsports wants to help prepare students for the electric vehicle industry. “A large majority of upperclassmen on the team have worked, or are working, at Tesla or Rivian.”

Former Motorsports powertrain lead Levi Gershon ’23, SM ’24 recently founded CRABI Robotics — a fully autonomous marine robotic system designed to conduct in-transit cleaning of marine vessels by removing biofouling, increasing vessels’ fuel efficiency.

An Indigenous approach to sustainable rockets

First Nations Launch, the all-Indigenous student rocket team, recently won the Grand Prize in the 2024 NASA First Nations Launch High-Power Rocket Competition. Using Indigenous methodologies, this team considers the environment in the materials and methods they employ.

“The environmental impact is always something that we consider when we’re making design decisions and operational decisions. We’ve thought about things like biodegradable composites and parachutes,” says rising junior Haley Polson, team captain. “Aerospace has been a very wasteful industry in the past. There are huge leaps and bounds being made with forward progress in regard to reusable rockets, which is definitely lowering the environmental impact.”

Collecting climate change data with autonomous boats

Arcturus, the recent first-place winner in design at the 16th Annual RoboBoat Competition, is developing autonomous surface vehicles that can greatly aid in marine research. “The ocean is one of our greatest resources to combat climate change; thus, the accessibility of data will help scientists understand climate patterns and predict future trends. This can help people learn how to prepare for potential disasters and how to reduce each of our carbon footprints,” says Arcturus captain and rising junior Amy Shi.

“We are hoping to expand our outreach efforts to incorporate more sustainability-related programs. This can include more interactions with local students to introduce them to how engineering can make a positive impact in the climate space or other similar programs,” Shi says.

Shi emphasizes that hope is a crucial force in the battle against climate change. “There are great steps being taken every day to combat this seemingly impending doom we call the climate crisis. It’s important to not give up hope, because this hope is what’s driving the leaps and bounds of innovation happening in the climate community. The mainstream media mostly reports on the negatives, but the truth is there is a lot of positive climate news every day. Being more intentional about where you seek your climate news can really help subside this feeling of doom about our planet.”

[industryinsightsandanalysis]

Gas Diffusion Electrode Market: Current Analysis and Forecast (2024-2032)

The global clean energy landscape is undergoing a significant shift, with the Asia Pacific region emerging as a dominant player. This dominance extends to the gas diffusion electrode (GDE) market, a crucial component in fuel cells and other clean energy technologies. While the current market share picture might be unclear, there's undeniable evidence of Asia Pacific experiencing remarkable growth in this sector. This blog delves into the reasons behind this surge, exploring government initiatives, environmental concerns, manufacturing advantages, and specific developments within the region.

Clean Energy Ambitions Drive Demand:

Governments across Asia Pacific are prioritizing clean energy development. Countries like Japan, South Korea, and China are leading the charge with significant investments in fuel cell technology and hydrogen production. This translates directly to a burgeoning demand for GDEs, as they are essential components in these technologies.

Japan: A longstanding leader in fuel cell research and development, Japan boasts a well-established hydrogen infrastructure and ambitious plans for fuel cell vehicle adoption. This translates to a high demand for GDEs from domestic manufacturers.

South Korea: Similar to Japan, South Korea is heavily invested in fuel cell technology. The government has set ambitious targets for hydrogen vehicle deployment and fuel cell power generation, further propelling the GDE market.

China: China's clean energy ambitions are nothing short of monumental. The country has laid out a roadmap for large-scale hydrogen production and fuel cell deployment. This aggressive plan will undoubtedly drive up demand for GDEs in the coming years.

Combating Pollution with Clean Solutions:

Air pollution is a major concern across much of Asia Pacific. Many countries grapple with smog-filled cities and rising health problems. Governments are actively seeking cleaner energy solutions, and GDEs play a crucial role in enabling these solutions:

Fuel cells: These clean and efficient power generation devices utilize GDEs as a core component. By promoting fuel cell adoption, governments can significantly reduce air pollution from traditional fossil fuel power plants.

Hydrogen Economy: Hydrogen is emerging as a promising clean energy carrier. Electrolyzers, which use GDEs in their operation, are instrumental in producing hydrogen from renewable sources. This shift towards hydrogen will further drive GDE market growth.

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Manufacturing Prowess: A Strategic Advantage:

Asia Pacific is a well-established manufacturing powerhouse. This expertise can be leveraged to develop and produce GDEs efficiently, contributing to regional market growth:

Existing Infrastructure: The presence of a strong manufacturing infrastructure in many Asian countries allows for the efficient production of GDEs. This existing infrastructure can be readily adapted to meet the growing demand for these components.

Cost Competitiveness: Manufacturing costs tend to be lower in Asia Pacific compared to some developed regions. This cost advantage can benefit Asian manufacturers, allowing them to produce GDEs at a more competitive price point. This, in turn, can accelerate market penetration for clean energy technologies, further fueling GDE demand.

News and Developments by Year:

While specific market share data might be limited, tracking news and developments provides valuable insights into the growth trajectory of the GDE market in Asia Pacific:

2022: Japan's "Basic Hydrogen Strategy" outlines ambitious plans for hydrogen production and fuel cell deployment, signaling a significant boost for the GDE market.

2023: South Korea unveils a "National Hydrogen Roadmap" aiming for large-scale hydrogen production and fuel cell commercialization by 2030. This roadmap is expected to significantly increase demand for GDEs in the country.

2024 (YTD): China announces plans to build the world's largest green hydrogen production facility. This project will require a massive amount of GDEs, further solidifying China's role in the GDE market.

These are just a few examples, and new developments are constantly emerging throughout the region.

Looking Ahead: A Sustainable Future:

The factors discussed above paint a clear picture: Asia Pacific is poised for continued and significant growth in the GDE market. Government initiatives, environmental concerns, and manufacturing prowess are all converging to create a dynamic market environment. As clean energy technologies like fuel cells and hydrogen electrolysis gain traction, the demand for GDEs will undoubtedly rise. This growth presents exciting opportunities for manufacturers, researchers, and investors in the region. With continued innovation and collaboration, Asia Pacific has the potential to become a global leader not only in GDE production but also in shaping a cleaner and more sustainable future.

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[sjsuraj]

Driving Forward: The Revolutionary Rise of Hydrogen in the Automotive Market

Driving Forward: The Revolutionary Rise of Hydrogen in the Automotive Market

Hydrogen in Automotive Market was valued at US$ 2,564.9 million in 2023 and is projected to reach US$ 24,069.9 million by 2031, growing at a CAGR of 32.52% from 2024 to 2031.

This comprehensive research study on the global Hydrogen in Automotive market gives detailed insights into the sector, offering a detailed analysis of market trends, prominent drivers, and future growth prospects. In order to make wise business decisions, it gives readers an extensive understanding of the market environment. Furthermore, the report covers several aspects, such as estimated market sizing, strategies employed by leading companies, restraining factors, and challenges faced by market participants.

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Market Forecast and Trends

The report's precise market forecasts and identification of emerging trends will allow readers to foresee the industry’s future and outline their tactics for the following years accordingly. Understanding market trends can help in gaining a competitive edge and staying ahead in a fast-paced business environment.

Regional and Segment Analysis

The study on the global Hydrogen in Automotive market will aid industry participants find high-growth regions and profitable market segments through region-specific and segment-by-segment analysis. This information helps in implementing better marketing strategies and product lineups to meet the preferences and needs of various target audiences. The major regions covered in this comprehensive analysis include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Investment and Expansion Opportunities

The research report supports strategic decision-making by revealing prospective areas for investment and business growth in the global Hydrogen in Automotive market. This report is a great tool for finding markets that are foreseen to grow substantially for aiding readers who want to expand into new and untapped markets or launch new products.

Competitive Analysis

The research report comprises an in-depth competitive analysis, which profiles major market competitors and evaluates their tactics, weaknesses, and market shares. These key players employ top business strategies, such as partnerships, alliances, mergers, acquisitions, product innovations, and product development, to establish a competitive advantage. Industry participants may use this information to measure their business against rivals and develop winning strategies for distinguishing themselves in the market.

Why Buy This Report?

Obtain an in-depth understanding of market trends and growth catalysts.

Utilize precise market forecasts for informed decision-making.

Outperform competitors through extensive competitive analysis.

Identify and leverage profitable regional and segment prospects.

Strategically plan investments and expansions in the global Hydrogen in Automotive market

The key players in the Hydrogen in Automotive Market are:

Ballard Power Systems Inc.

Plug Power Inc.

Cummins Inc.

Symbio

H2 Energy AG

Loop Energy Inc.

Hyster-Yale Materials Handling, Inc.

Toyota

BMW AG

Hyundai Motor Company

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The global Hydrogen in Automotive Market is segmented as:

By Vehicle Type

Commercial Vehicles

Passenger Vehicles

By Technology

Proton Exchange Membrane (PEM) Fuel Cell

Phosphoric Acid Fuel Cells

Others

By Vehicle Class

Luxury Vehicles

Mid-Range Vehicles

Economy Vehicles

By Region

North America

U.S.

Canada

Mexico

Europe

France

U.K.

Spain

Germany

Italy

Russia

Rest of Europe

Asia-Pacific

China

Japan

India

South Korea

Rest of Asia-Pacific

Middle East & Africa

GCC

North Africa

South Africa

Rest of Middle East & Africa

Latin America

Brazil

Argentina

Rest of Latin America.

[globalgrowthinsights]

E-prescribing Market Size, Share, Demand, Growth and Forecast 2024-2032

E-prescribing Market provides in-depth analysis of the market state of E-prescribing manufacturers, including best facts and figures, overview, definition, SWOT analysis, expert opinions, and the most current global developments. The research also calculates market size, price, revenue, cost structure, gross margin, sales, and market share, as well as forecasts and growth rates. The report assists in determining the revenue earned by the selling of this report and technology across different application areas.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of E-prescribing in these regions till the forecast period

North America

Middle East and Africa

Asia-Pacific

South America

Europe

Key Attentions of E-prescribing Market Report:

The report offers a comprehensive and broad perspective on the global E-prescribing Market.

The market statistics represented in different E-prescribing segments offers complete industry picture.

Market growth drivers, challenges affecting the development of E-prescribing are analyzed in detail.

The report will help in the analysis of major competitive market scenario, market dynamics of E-prescribing.

Major stakeholders, key companies E-prescribing, investment feasibility and new market entrants study is offered.

Development scope of E-prescribing in each market segment is covered in this report. The macro and micro-economic factors affecting the E-prescribing Market

Advancement is elaborated in this report. The upstream and downstream components of E-prescribing and a comprehensive value chain are explained.

Browse More Details On This Report at @https://www.globalgrowthinsights.com/market-reports/e-prescribing-market-100583

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Web: https://www.globalgrowthinsights.com

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Fuel cell Market - Forecast(2024 - 2030)

Fuel Cell Market Overview:

According to the International Trade Center (ITC), the trade of fuel cells that are particularly used in electric motors and generators was valued at $19.2 billion in 2018. Fuel cells have diverse domestic and commercial applications as they are indispensable parts of many machines in which chemical energy is converted into electrical energy. The fuel cell market was valued at $4.5 billion in 2018 and is projected to grow at a compound annual growth rate (CAGR) of 15.38% from 2019 to 2025.

The federal governments of countries such as the U.S. and Canada are supporting the private companies that manufacture fuel cells. The fuel cell market is observing funding opportunities from the US Department of Energy (DOE), and the Fuel Cell Technologies Office (FCTO) that belongs to the Office of Energy Efficiency and Renewable Energy. On March 1, 2019, the DOE announced a $51.5m funding for research in technologies that power trucks and off-road vehicles. Similarly, other countries in North America had observed soaring sales of fuel cells recently. The North America fuel cell market held 33.27% share of the global market in 2018.

Fuel Cell Market Outlook:

Fuel cells such as hydrogen fuel cells, solid oxide fuel cells, and methane fuel cells are electrochemical cells that convert chemical energy into electrical energy. Fuel cell energy is required in domestic and commercial sectors, and it is also used to charge the fuel cell vehicles.

The application segment that is poised to create the most lucrative opportunities to the vendors in the fuel cell market is the stationary power application segment. This is mainly attributable to the application of fuel cells in generators, which are important standby electricity suppliers. Furthermore, there is expected to be an augmented application of fuel cells in the uninterruptible power supply market, which had a valuation of $10.5 billion to $11 billion in 2018, and the segment is poised to observe a substantial CAGR of 4% to 5%, which will further propel the fuel cell market. The stationary segment will observe a healthy CAGR of 16.94% through 2025.

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Fuel Cell Market Growth Drivers:

· The Application of Fuel Cells in the Automotive Industry ���

According to the International Organization of Motor Vehicle Manufacturers (OICA), the number of vehicles manufactured in 2018 was 95,634,593. Furthermore, the future will observe an increment in the manufacturing of automobiles, and more so with the advent of electric vehicles, autonomous & semi-autonomous vehicles, and self-driven trucks. The growth prospects in the automotive sector will escalate the fuel cell market revenue in the future.

· Commercial Applications Expanding the Fuel Cell Market Size –

A variety of fuel cells such as proton exchange membrane fuel cells, solid oxide fuel cells, solid polymer fuel cells, phosphoric acid fuel cells, and alkaline fuel cells are used in commercial buildings. Given that motors and generators have prominent applications in commercial buildings, the segment happens to be a lucrative fuel cell marketplace.

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Fuel Cell Market Trends –

·    Latest Developments – Fuel cell catalyst technology has been constrained by two hurdles that include manufacturing costs and durability. However, there are innovations in the fuel cell market, and there will be alterations in the fuel cells stack technology. These innovations will significantly reduce the costs by reducing the usage of precious metals and improving the longevity of fuel cells through innovative designs in catalyst layers.

·   In November 2018, Panasonic decided to commercialize the hydrogen fuel cell generator in order to accelerate initiatives to achieve a sustainable society by utilizing hydrogen energy. This trend will be adopted by a lot of organizations, and further drive the hydrogen fuel cell market and hydrogen market as well.

·     In December 2018, Hydrogenics Corporation was awarded a contract for the design and supply of fuel cell power modules for a new lightweight aircraft. This will position the company in the aircraft fuel cells segment.

Fuel Cell Market Challenges –

Even though fuel cells are found to be excellent alternatives to internal combustion engines that aren’t environment-friendly, fuel cells are yet to penetrate various industries and replace the conventional form of energy, which is limiting the expansion of the fuel cell market. Furthermore, the vendors are striving to optimize the pricing according to the end-user criteria in order to thrive on the demand, which is picking up pace. Another factor that is constraining the growth of the customer-base is the reliability of fuel cells. However, manufacturers are making hefty investments into R&D, and the future is poised to observe some innovations that will disrupt the fuel cell market.

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Fuel Cell Market Key Players Perspective –

The major players that are battling for the fuel cell market share are Ballard Power Systems Inc., Toshiba Corporation, Panasonic Corporation, Horizon Fuel Cell Technologies, Hydrogenics Corporation, Fuel Cell Energy, Inc., Ceramic Fuel Cells Limited, Aisin Seiki Co., Ltd., Doosan Fuel Cell America, Nuvera Fuel Cells, SFC Group, Bloom Energy, Nedstack Fuel Cell Technology B.V., Plug Power, UTC Power Corp., and Arcola Energy.

Fuel Cell Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the fuel cell market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The fuel cell market research report also analyzes the applications of the devices in the commercial, consumer product, and automobile sectors.

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Fuel Cell Market Report: Industry Coverage

This report also documents the product based on types, which include metal hydride fuel cell, DFAFC, and UMFC.

The fuel cell market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

North America: The U.S., Canada, Mexico

South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark

APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

Middle East and Africa: Israel, South Africa, Saudi Arabia

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Hydrogen Energy Storage Market Had a Considerable Share in the APAC

The hydrogen energy storage market generated USD 14,100 million in 2022, and it will reach USD 304,108 million by 2030, powering at a mammoth growth rate of 46.80% in the years to come.

Recently, India, the U.S, the U.K., and other nations are focusing on R&D events that would help in tech expansions in hydrogen and fuel cell technologies. This has guaranteed the development of suitable hydrogen storage for onboard light duty vehicles, portable power applications, and material-handling equipment that would support in achieving the targets set by governments.

The physical category will have a considerable revenue by 2030, registering a rate of above 50% from 2022 to 2030. This is because of the increasing requirement for physical hydrogen storage solutions from refineries because of the inferior crude oil and rigorous regulations of the government on emission control in developing countries.

Hydrogen is stored in gaseous or liquid form in tanks and could be later put to use for numerous end-uses for example production of ammonia and glass, metalworking, crude oil refining, and transportation.

The cylinder category had the largest share in the hydrogen energy storage market. Gaseous hydrogen is usually stored in cylinders at 150–200 bar pressure and under 298 K.

Also, the market will grow because of the growing requirement for hydrogen storage solutions from the food, metalworking, and electronics industries.

Furthermore, the onboard category will grow significantly in the years to come, because of the increasing acceptance of hydrogen-powered vehicles in developed nations and the increasing making of fuel cells for transportation applications for instance ships and boats, submarines, and buses.

APAC had the second largest revenue, and the demand for hydrogen storage solution will grow at high pace in the years to come, with China contributing significantly.

This has a lot to do with the growing usage of methanol made from hydrogen; the increasing requirement for ammonia in manufacturing facilities in India, China, and other South-Asian nations; strict regulations of the government in South Korea, China, and Japan for production of cleaner fuels, and the increasing consumption of diesel and gasoline in emerging nations.

Furthermore in 2022, the U.S. DOE announced over USD 50 million to increase the expansion of clean hydrogen technologies and decarbonize the grid.

With an introduction of an added USD 20 million university research consortium to supplementary help          the states and tribal community successfully achieve goals of decarbonization and implement grid resilience programs, the industry will grow significantly in the U.S.

Because of the increasing focus on alternative energy sources, the demand of hydrogen energy storage will continue to grow in the future.

Source: P&S Intelligence

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 Meticulous Research®, a prominent global market research firm, has released an in-depth analysis titled, "Hydrogen Generation Market by Type (Gray, Green, Blue), Process (Hydrogen Generation, Hydrogen Storage), Source (Fossil Fuels, Nuclear, Solar), Application (Ammonia Production, Petroleum Refinery, E-mobility, Power Generation) - Global Forecast to 2030."

According to this latest report, the global hydrogen generation market is projected to reach $188.2 billion by 2030, growing at a CAGR of 8.4% from 2023 to 2030. The market expansion is primarily driven by the surging demand for hydrogen within the chemicals sector and robust governmental initiatives promoting the shift towards clean energy. Despite the substantial capital costs associated with hydrogen storage, the market is set to grow due to the increasing focus on green hydrogen production technologies and the burgeoning use of hydrogen in fuel cell electric vehicles (FCEVs). However, challenges such as the lack of secure infrastructure for hydrogen transport and storage persist.

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Market Segmentation and Key Insights:

By Type: The market is segmented into gray hydrogen, blue hydrogen, green hydrogen, and others. In 2023, gray hydrogen is expected to dominate the market share, driven by its demand in fertilizer production and fuel applications. Meanwhile, green hydrogen is anticipated to exhibit the highest growth rate, attributed to advancements in electrolysis technologies and the rising demand in FCEVs and the power sector.

By Process: The segmentation includes hydrogen generation and hydrogen storage processes. The hydrogen generation segment is forecasted to lead, spurred by industrial demand and efforts to reduce greenhouse gas emissions through renewable energy sources and decarbonization technologies.

By Source: This includes fossil fuels, nuclear, water, solar, biomass, and others. The fossil fuels segment is set to hold the largest share in 2023 due to efforts in reducing emissions and government incentives. However, the solar segment is poised for the highest growth, propelled by the demand for green hydrogen and low-cost production methods.

By Application: The applications cover ammonia production, petroleum refinery, E-mobility, methanol production, district heating, power generation, manufacturing, and synfuel production. Ammonia production is projected to lead in 2023, driven by its use as a low-carbon fuel and in industry decarbonization. The E-mobility segment will grow the fastest due to the rising adoption of FCEVs and expanding hydrogen fueling infrastructure.

By Geography: The report covers North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is anticipated to dominate the market, followed by Europe and North America, due to the region’s commitment to carbon-free hydrogen production and renewable energy initiatives.

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Key Market Players:

The leading companies in the hydrogen generation market include Plug Power Inc. (U.S.), Linde GmbH (Germany), Air Products and Chemicals, Inc. (U.S.), L’AIR LIQUIDE S.A. (France), Matheson Tri-Gas, Inc. (U.S.), SOL Spa (Italy), Cummins Inc. (U.S.), Siemens Energy AG (Germany), Shell plc (U.K.), Messer SE & Co. KGaA (Germany), Ballard Power Systems Inc. (Canada), FuelCell Energy, Inc. (U.S.), Iwatani Corporation (Japan), Enapter AG (Germany), CALORIC Anlagenbau GmbH (Germany), SPG Hydrogen Co., Ltd. (South Korea), Uniper SE (Germany), and Nel ASA (Norway).

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Key Questions Addressed:

What are the high-growth market segments by type, process, source, application, and geography?

How has the hydrogen generation market evolved historically, and what are the forecasts for 2023–2030?

What are the key drivers, restraints, opportunities, and challenges in the market?

Who are the major players, and what are their market shares?

What is the competitive landscape and recent developments in the hydrogen generation market?

What strategies are major players adopting to compete in the market?

What are the key geographic trends, and which countries exhibit high growth?

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Meticulous Research® Email: sales@meticulousresearch.com Phone: +1-646-781-8004 Connect with us on LinkedIn

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Low-Carbon Propulsion Market Segmentation and Regional Analysis

The Low-Carbon Propulsion Market is a burgeoning sector driven by the global imperative to reduce greenhouse gas emissions and combat climate change. This market encompasses a wide array of technologies and solutions aimed at reducing carbon emissions in transportation and industrial sectors, including electric vehicles (EVs), hydrogen fuel cells, biofuels, and other alternative propulsion systems.

One of the key drivers of the Low-Carbon Propulsion Market is the increasing awareness of environmental sustainability among consumers, businesses, and governments worldwide. Stringent regulations and policies aimed at curbing carbon emissions from vehicles and industries have accelerated the adoption of low-carbon propulsion technologies. Governments are incentivizing the adoption of electric vehicles through subsidies, tax incentives, and infrastructure investments, thereby propelling the growth of the market.

Electric vehicles, in particular, have emerged as a frontrunner in the low-carbon propulsion landscape. The advancements in battery technology have improved the range, performance, and affordability of electric vehicles, making them a viable alternative to traditional internal combustion engine vehicles. Major automotive manufacturers are increasingly investing in electric vehicle research and development, aiming to capture a larger market share and meet regulatory requirements for reducing fleet emissions.

Hydrogen fuel cells also play a significant role in the Low-Carbon Propulsion Market, especially in heavy-duty transportation such as buses, trucks, and trains. Hydrogen fuel cells offer zero-emission propulsion with fast refueling times, making them suitable for long-range applications where battery electric vehicles may face limitations.

Biofuels, derived from renewable biomass sources such as crops, waste oils, and algae, are another key component of the low-carbon propulsion ecosystem. Biofuels can be blended with traditional fuels or used as standalone alternatives, offering a lower carbon footprint compared to fossil fuels.

Overall, the Low-Carbon Propulsion Market is characterized by rapid technological advancements, increasing investments, and a growing array of options for reducing carbon emissions across various industries. As sustainability concerns intensify and regulatory pressures mount, the market is poised for continued growth, innovation, and adoption of cleaner propulsion technologies in the global quest for a low-carbon future.

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Green Ammonia Market: Current Analysis and Forecast (2023-2030)

According to a new report published by UnivDatos Markets Insights, the Green Ammonia Market was valued at USD 46.08 million in 2022 & is expected to grow at a CAGR of 186.1% from 2023-2030.  The analysis has been segmented into Technology (Alkaline Water Electrolysis, Proton Exchange Membrane, and Solid Oxide Electrolysis), End-User (Industrial Feedstock, Power Generation, Transportation, Others), Region/Country.

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The green ammonia market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the green ammonia market. The green ammonia market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the green ammonia market at the global and regional levels.

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Key Market Opportunities

Increasing focus on Hydrogen-Based Economy

A hydrogen economy is an economy that relies on hydrogen as the commercial fuel that would deliver a substantial fraction of a country’s energy and services. Hydrogen produced from domestic energy sources economically and in environmentally friendly manner will further support the target of hydrogen-based economy set by various countries. In addition, fuel cell technology should also become mature and economical so that fuel cells and fuel cell vehicles can gain market share in competition with conventional power generation sources and transportation vehicles. Direct ammonia fuel cells are an important emerging technology that can be used to extract the chemical energy within ammonia and convert such into electricity at high efficiency.  The potential of ammonia as a hydrogen carrier has more recently been recognized through the concept of green ammonia. As the transition from fossil fuels to renewable energy becomes more prominent, companies such as BP who are heavily involved as oil and gas majors have included green ammonia within their portfolio of clean energy technology. Thus, creating huge opportunities for the green ammonia market.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on various industries across the globe, including the green ammonia market. Green ammonia is produced through the reaction of hydrogen gas with nitrogen gas, and it offers a promising alternative to traditional ammonia production methods that rely on fossil fuels. However, the pandemic has created challenges for the green ammonia market, both directly and indirectly. Moreover, the pandemic has caused widespread lockdowns, travel restrictions, and supply chain disruptions, affecting the transportation of raw materials and equipment required for green ammonia production. For instance, the closure of borders and ports has hindered the import of necessary components like catalysts and reactors. Additionally, many green ammonia production facilities have faced operational challenges due to staff shortages, quarantines, and absenteeism. This has resulted in reduced production capacities, as fewer workers are available to manage and maintain the facilities.

Segmentation Details:

By technology, alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis. Among these, alkaline water electrolysis dominated the green ammonia market in 2022.

By end-user, the market is segmented into industrial feedstock, power generation, transportation, and others. Among these, the industrial feedstock segment has dominated the market in 2022

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Green Ammonia Market Geographical Segmentation Includes:

North America (U.S., Canada, Rest of North America)

Europe (Germany, U.K., France, Spain, Italy, Rest of Europe)

Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific)

Middle East (UAE, Saudi Arabia, Qatar, Kuwait, Rest of the Middle East)

Rest of the World

The Europe region is projected to dominate the forecast period as the region has the highest number of automotive manufacturers and production units that cater to the demand for green ammonia. The foremost factors attributed to the boom of the market are the increasing favorable government policies, technological advancements, investment by governments and private players, economic growth, and policies to reduce decarbonization. Moreover, the increasing awareness among people about renewable energies and increased focus on using ammonia to deliver hydrogen as a clean-burning fuel for industries. Additionally, numerous green hydrogen projects and the growing investment in the region are also driving the market growth. For instance, In August 2022, Eni SpA launched a $20 million initiative to investigate the possibility of converting waste CO2 emissions into green ammonia in Italy. The project aims to create a sustainable circular economy model for ammonia production. Moreover, the Government Hydrogen Deployment Plan by France is to set out to provide a national strategy towards the integration of hydrogen into the country’s energy mix with planned short-term and long-term targets. This includes achieving 10% de-carbonization by 2023 through hydrogen and zero emission roads, rails solutions with 5,000 light utility vehicles, 100 hydrogen stations, and 200 heavy vehicles with locally produced hydrogen by 2023. Likewise, factors such as supportive government policies and efforts to meet the rising power and transportation fuel demand using renewable energy sources and decrease the dependency on fossil fuels to reduce carbon emissions are significant contributors to the growth of the market. Similarly, while the decarbonization of ammonia production for fertilizers is already critical to meeting net-zero emissions targets, green ammonia also has immense potential to serve as a next-generation zero-carbon fuel. In this way, it represents a highly flexible way of storing renewable energy and a key complementary technology to direct electrification. For instance, in June 2022, BASF SE partnered with Carbon Clean Solutions, a UK-based carbon capture and utilization company, to develop a green ammonia facility in Antwerp, Belgium. The project aims to produce 50,000 metric tons of green ammonia per year using captured CO2 emissions.

A few key private and public stakeholders in Italy are investing in green hydrogen. As per the draft document of Italian, by 2030- hydrogen could make up 2% of Italy’s final energy demand and could help eliminate up to 8 million tons of CO2, with a 20% energy demand coverage possible by 2050. Furthermore, major companies are collaborating and investing for setting up production plants

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Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts 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 green ammonia market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.

Recent Developments:

In January 2023, Yara International ASA launched a small-scale green ammonia pilot plant at its existing ammonia production site in Porsgrunn, Norway. The pilot plant aims to test and optimize Yara's patented electrolysis technology for producing green ammonia from renewable electricity.

In December 2022, Swedish cleantech company Climeon AB and French energy company ENGIE formed a partnership to promote green ammonia production using Climeon's Energy Convertor Technology. This collaboration seeks to scale up sustainable ammonia production globally.

In July 2021, Siemens held a ceremony to commemorate the start of construction at its Wunsiedel green hydrogen plant, a facility which will produce 1,350 tons of hydrogen annually from renewable energy.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the green ammonia market?

• Which factors are influencing the green ammonia market over the forecast period?

• What are the global challenges, threats, and risks in the green ammonia market?

• Which factors are propelling and restraining the green ammonia market?

• What are the demanding global regions of the green ammonia market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

• What are the descriptive profiles of key companies along with their SWOT analysis?

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Target Audience:

Chemical and Fertilizer Producers

Ammonia and Energy Traders

Suppliers and Distributors

Market-related associations, organizations, forums, and alliances

Government bodies, such as regulating authorities and policymakers

Venture capitalists, private equity firms, and start-up companies

Distributors and sales firms

Research institutes, organizations, and consulting companies

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Fuel Cell Market: Powering Towards a Clean Future

Fuel Cell Market With a surge in demand for clean energy solutions, the fuel cell market is on the rise. Here is an overview of the global market—US-centric.

Market Size and Growth

Estimates might vary, but most analysts predict that it is going to be a steep climb to a global market value of US$ 12.63 billion by 2031 with a Compound Annual Growth Rate of 27.4%.

US Market Potential

The US holds immense potential within the global scenario. Indeed, it pegs the fuel cell market in the US at US$4.2 billion by 2030, reflecting a strong growth trend. Government support of clean energy and increasing carbon reduction targets set out by countries explain this.

Diverse Dominant Applications

Currently, stationary fuel cells dominate with more than 69% of the global market share in 2023. These are applied in distributed generation facilities, stand-by backup power applications, and combined heat and power systems. However, remarkable growth is bound to take place through the transport sector, mostly for electric vehicles.

Asia-Pacific in the Lead

The Asia-Pacific dominates the global market and holds more than 60% share in 2023. This dominance is due to several factors, such as its large consumer base and rapid development in the hydrogen sector, with the presence of key players like China, Japan, and South Korea.

Business Opportunity

Many different players will open new business opportunities in the fuel cell market, from companies manufacturing components required by fuel cells and electrolyzers that will be used to produce hydrogen, to those building the Hydrogen infrastructure. A big opportunity also lies in the area of research and development of fuel cell technology.

With the fuel cell market growing around the world, the US market is an integral part of this growth. Stakeholders in the market must be ahead of emerging trends to secure these opportunities with the new clean energy source within companies' core applications of transportation and stationary power.

Author Bio -

Akshay Thakur

Senior Market Research at The Insight Partners