Hydrogen Fuel Cell Global Market to Reach $80.48 Billion by 2030 with a 21.2% CAGR
DUBLIN, Sept. 22, 2022 /PRNewswire/ -- The "Hydrogen Fuel Cell Market, By Product Type, By Vehicle Type, By Technology Type, By Application, By End-Use, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global Hydrogen Fuel Cell market was valued at USD 14.72 Billion in 2021 and is projected to grow at a CAGR of 21.2% from 2021 to reach USD 80.48 Billion by the year 2030.
The main advantage of fuel cells over other power generation technologies is that they are very efficient, with most of the energy in the hydrogen being converted to electricity. Fuel cells also have a much lower environmental impact than other power generation technologies, as they do not produce any emissions of greenhouse gases or air pollutants.
The rising concerns over climate change and air pollution are the major factors driving the growth of the hydrogen fuel cell market. The growing demand for clean and renewable energy sources is also expected to boost the market growth.
In addition, the increasing investment by government and private organizations in fuel cell technology is expected to provide a further boost to the market growth. However, the high cost of fuel cells and the lack of infrastructure are the major factors restraining the growth of the hydrogen fuel cell market.
Further key findings from the report suggest
Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)
Technology Type Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/67ktrj
SOURCE Research and Markets