Market Overview:
Fuel Cells For Marine Vessels Market Share Size is expected to reach USD 3.905 Billion by 2030, registering a CAGR of 3.7% during 2020-2030
Because of its adaptability, fuel cells can be employed either singly or in stacks. The power generated can then be distributed throughout a ship without increasing the need for conventional fuel. In marine vessels, fuel cells are utilised to power the propulsion system and meet the needs of the onboard energy consumption.
The market participants will have new prospects for expansion as a result of the growing demand for alternative propulsion systems. Low operating costs, an emphasis on reducing pollution, and rising demand for alternative propulsion systems are the main factors propelling the growth of the fuel cell market for marine vessels. However, there are some drawbacks in the operational performance of fuel cells for marine vessels, including high capital costs, a limited stack lifetime, and problems with the propulsion system's design. During the forecast period, the marine fuel cell market is anticipated to grow at a 6% CAGR.
Key Players:
The key players in Fuel Cells For Marine Vessels Market Share are Fiskerstrand Verft AS (Norway), MEYER WERFT GmbH Co. KG (Germany), Nuvera Fuel Cells LLC (U.S.), Dynad International BV (Netherland), PowerCell (Sweden), SerEnergy A/S (Denmark), Toshiba Corporation (Japan), Siemens (Germany), Proton Motor GmbH (Germany), and Watt Fuel Cell Corporation (U.S.).
Market Segmentation:
The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Fuel Cells For Marine Vessels Market Share by its type, application, power output, and region.
By Type
Polymer Electrolyte Membrane Fuel Cell (PEMFC)
Solid Oxide Fuel Cell (SOFC)
Direct Methanol Fuel Cells (DMFC)
Phosphoric Acid Fuel Cells (PAFC)
Others
By Application
Commercial
Defense
By Power Output
200 KW
200 KW
By Region
North America
Europe
Asia Pacific
Middle East Africa
Latin America
Regional Analysis:
The market is divided into North America, Asia Pacific, Europe, Middle East Africa, and Latin America based on region. The military and commercial marine industries in North America are investing more money in fuel cell technologies. There are more industrial consortiums developing fuel cell-powered vessels in the European region.
Meanwhile, as part of the e4ships programme, Meyer Werft GmbH Co. KG and thyssenkrupp Marine Systems GmbH inked a contract in 2016 to develop fuel cell systems for seagoing boats. Similar to this, in 2013 Nuvera Fuel Cells, Llc signed a contract to produce and distribute fuel cell stacks for use on marine vessels with Italian shipbuilder Fincentieri S.p.A.
Full report @ https://www.marketresearchfuture.com/reports/fuel-cells-marine-vessels-market-6111
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