Global Molten Carbonate Fuel Cells Market to Reach 207.9 MW by 2027
Amid the COVID-19 crisis, the global market for Molten Carbonate Fuel Cells estimated at 55.5 MW in the year 2020, is projected to reach a revised size of 207.9 MW by 2027, growing at a CAGR of 20.8% over the analysis period 2020-2027. Utilities, one of the segments analyzed in the report, is projected to record a 17% CAGR and reach 87.6 MW by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the C&I segment is readjusted to a revised 25.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at 16.6 MW, While China is Forecast to Grow at 20.6% CAGR
The Molten Carbonate Fuel Cells market in the U.S. is estimated at 16.6 MW in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 37.2 MW by the year 2027 trailing a CAGR of 20.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.2% and 17% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.1% CAGR.
Other End-Uses Segment to Record 22.6% CAGR
In the global Other End-Uses segment, USA, Canada, Japan, China and Europe will drive the 22.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of 8.3 MW in the year 2020 will reach a projected size of 34.6 MW by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 25.1 MW by the year 2027.We bring years of research experience to this 8th edition of our report. The 114-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Toshiba Corporation
- GS Caltex Corporation
- Ballard Power Systems, Inc.
- JX Nippon Oil & Energy Corporation
- FuelCell Energy, Inc.
- Hydrogenics Corporation
- Bloom Energy
- Horizon Fuel Cell Technologies Pte Ltd.
- Nuvera Fuel Cells LLC
- Plug Power Inc.
- Ceres Power Holdings PLC
- Panasonic Energy Europe n.v.
- Protonex Technology Corporation
- AFC Energy PLC
- Nedstack fuel cell technology BV
- Ceramic Fuel Cells Limited
- Doosan Fuel Cell America, Inc.
- Genport srl
- Haldor Topsoe A/S
- SFC Energy AG