Fuel Cells for Marine Vessels Market Scope
The marine industry was shipped are powered by diesel and natural gas fuels that emit air pollutants while underway on rivers, in littoral waters and open seas, and while powered in port. Ship power and energy requirements are a function of vessel characteristics, voyage requirements, and fuelling frequency. Hybrid power system architecture consisting of fuel cells and batteries are adopted for ferries and other vessels Hybrid systems can be designed so the fuel cells operate at a steady state and the batteries are dimensioned for transient power requirements. Power Requirements for marine vessels is required necessary. Fuelling vessels with hydrogen is rapid, and hydrogen is sorted in large gaseous or liquid storage facilities, allowing for convenient refueling at docks.
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|Key Companies Profiled||PowerCell Sweden AB (Sweden), Nuvera (United States), Bloom Energy (United States), Hyster-Yale Materials Handling, Inc. (United States), Watt Fuel Cell Corporation (United States), SFC Energy AG (Germany), Fiskerstrand Verft AS (Norway), Siemens (Germany), MEYER WERFT GmbH & Co. KG (Germany) and Panasonic Holdings Corporation (Japan)|
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior-quality products to cater to the ever-growing demand for Fuel Cells for Marine Vessels. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Fuel Cells for Marine Vessels market throughout the predicted period.
PowerCell Sweden AB (Sweden), Nuvera (United States), Bloom Energy (United States), Hyster-Yale Materials Handling, Inc. (United States), Watt Fuel Cell Corporation (United States), SFC Energy AG (Germany), Fiskerstrand Verft AS (Norway), Siemens (Germany), MEYER WERFT GmbH & Co. KG (Germany) and Panasonic Holdings Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Proton Motor Fuel Cell GmbH (Germany), Hyundai Motor Company (South Korea), Advent Technologies (United States), ABB (Switzerland), Ballard Power Systems (Canada), TOSHIBA CORPORATION (Japan), ECHANDIA AB (Sweden) and General Electric (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Fuel Cells for Marine Vessels market by Type , by Application (Commercial, Military and Others) and Region with country level break-up.
On the basis of geography, the market of Fuel Cells for Marine Vessels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn November 2021, Fuel cell manufacturer Ballard Power Systems acquired Acrola Energy, a UK-based systems engineering company specializing in hydrogen fuel cell powertrain and vehicle systems integration
In February 2021, PowerCell Sweden AB has launched the brand powerCellution for the sales and marketing of fuel cell-related products and services. The brand is launched to manifest the development of a supplier of systems and solutions.
Influencing Trend:Growing demand for the alternate propulsion systems and regulatory policies on emission control
Market Growth Drivers:Demand for the alternate propulsion systems of marine vessels
Challenges:Lack of infrastructure to support the distribution of hydrogen
Restraints:High operational costs engines require regular maintenance
Opportunities:Increasing innovation and advancement by manufacturers
Key Target AudienceFuel Cells for Marine Vessels Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory and Research Organizations