Product Code: IRTNTR43046
Abstract
The fuel cells for marine vessels market is forecasted to grow by USD 188.58 mn during 2023-2028, accelerating at a CAGR of 6.82% during the forecast period. The report on the fuel cells for marine vessels market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by demand for alternate propulsion systems, rapid developments in marine propulsion industry, and regulatory policies on emission control.
Market Scope |
Base Year | 2023 |
End Year | 2028 |
Series Year | 2024-2028 |
Growth Momentum | Accelerate |
YOY 2024 | 6.36% |
CAGR | 6.82% |
Incremental Value | $188.58mn |
Technavio's fuel cells for marine vessels market is segmented as below:
By Application
- Commercial
- Military
- Others
By Technology
- PEMFC
- SOFC
- Other fuel cells
By Geographical Landscape
- North America
- APAC
- Europe
- Middle East and Africa
- South America
This study identifies the increasing R and D activities in fuel cell technology as one of the prime reasons driving the fuel cells for marine vessels market growth during the next few years. Also, adoption of AIP technology and emergence of hybrid propulsion systems will lead to sizable demand in the market.
The report on the fuel cells for marine vessels market covers the following areas:
- Fuel cells for marine vessels market sizing
- Fuel cells for marine vessels market forecast
- Fuel cells for marine vessels market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fuel cells for marine vessels market vendors that include ABB Ltd., Advent Technologies Holdings Inc., Ballard Power Systems Inc., Bloom Energy Corp., Cummins Inc., Echandia Marine AB, General Electric Co., Hyster Yale Materials Handling Inc., Intelligent Energy Ltd., MEYER WERFT GmbH and Co. KG, Nedstack Fuel Cell Technology BV, Nuvera Fuel Cells LLC, Plug Power Inc., Proton Motor Power Systems PLC, SFC Energy AG, Siemens AG, Sunfire GmbH, TECO 2030 ASA, Watt Fuel Cell Corp., and Toshiba Corp.. Also, the fuel cells for marine vessels market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary - Chart on Market Overview
- Exhibit 02: Executive Summary - Data Table on Market Overview
- Exhibit 03: Executive Summary - Chart on Global Market Characteristics
- Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
- Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary - Chart on Market Segmentation by Technology
- Exhibit 07: Executive Summary - Chart on Incremental Growth
- Exhibit 08: Executive Summary - Data Table on Incremental Growth
- Exhibit 09: Executive Summary - Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- 4.1 Global fuel cells for marine vessels market 2018 - 2022
- Exhibit 18: Historic Market Size - Data Table on global fuel cells for marine vessels market 2018 - 2022 ($ million)
- 4.2 Application Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ million)
- 4.3 Technology Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size - Technology Segment 2018 - 2022 ($ million)
- 4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
- 4.5 Country Segment Analysis 2018 - 2022
- Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2023-2028 (%)
- Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
- 6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application
- 6.3 Commercial - Market size and forecast 2023-2028
- Exhibit 34: Chart on Commercial - Market size and forecast 2023-2028 ($ million)
- Exhibit 35: Data Table on Commercial - Market size and forecast 2023-2028 ($ million)
- Exhibit 36: Chart on Commercial - Year-over-year growth 2023-2028 (%)
- Exhibit 37: Data Table on Commercial - Year-over-year growth 2023-2028 (%)
- 6.4 Military - Market size and forecast 2023-2028
- Exhibit 38: Chart on Military - Market size and forecast 2023-2028 ($ million)
- Exhibit 39: Data Table on Military - Market size and forecast 2023-2028 ($ million)
- Exhibit 40: Chart on Military - Year-over-year growth 2023-2028 (%)
- Exhibit 41: Data Table on Military - Year-over-year growth 2023-2028 (%)
- 6.5 Others - Market size and forecast 2023-2028
- Exhibit 42: Chart on Others - Market size and forecast 2023-2028 ($ million)
- Exhibit 43: Data Table on Others - Market size and forecast 2023-2028 ($ million)
- Exhibit 44: Chart on Others - Year-over-year growth 2023-2028 (%)
- Exhibit 45: Data Table on Others - Year-over-year growth 2023-2028 (%)
- 6.6 Market opportunity by Application
- Exhibit 46: Market opportunity by Application ($ million)
- Exhibit 47: Data Table on Market opportunity by Application ($ million)
7 Market Segmentation by Technology
- 7.1 Market segments
- Exhibit 48: Chart on Technology - Market share 2023-2028 (%)
- Exhibit 49: Data Table on Technology - Market share 2023-2028 (%)
- 7.2 Comparison by Technology
- Exhibit 50: Chart on Comparison by Technology
- Exhibit 51: Data Table on Comparison by Technology
- 7.3 PEMFC - Market size and forecast 2023-2028
- Exhibit 52: Chart on PEMFC - Market size and forecast 2023-2028 ($ million)
- Exhibit 53: Data Table on PEMFC - Market size and forecast 2023-2028 ($ million)
- Exhibit 54: Chart on PEMFC - Year-over-year growth 2023-2028 (%)
- Exhibit 55: Data Table on PEMFC - Year-over-year growth 2023-2028 (%)
- 7.4 SOFC - Market size and forecast 2023-2028
- Exhibit 56: Chart on SOFC - Market size and forecast 2023-2028 ($ million)
- Exhibit 57: Data Table on SOFC - Market size and forecast 2023-2028 ($ million)
- Exhibit 58: Chart on SOFC - Year-over-year growth 2023-2028 (%)
- Exhibit 59: Data Table on SOFC - Year-over-year growth 2023-2028 (%)
- 7.5 Other fuel cells - Market size and forecast 2023-2028
- Exhibit 60: Chart on Other fuel cells - Market size and forecast 2023-2028 ($ million)
- Exhibit 61: Data Table on Other fuel cells - Market size and forecast 2023-2028 ($ million)
- Exhibit 62: Chart on Other fuel cells - Year-over-year growth 2023-2028 (%)
- Exhibit 63: Data Table on Other fuel cells - Year-over-year growth 2023-2028 (%)
- 7.6 Market opportunity by Technology
- Exhibit 64: Market opportunity by Technology ($ million)
- Exhibit 65: Data Table on Market opportunity by Technology ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 67: Chart on Market share By Geographical Landscape 2023-2028 (%)
- Exhibit 68: Data Table on Market share By Geographical Landscape 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 69: Chart on Geographic comparison
- Exhibit 70: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2023-2028
- Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ million)
- Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ million)
- Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
- Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
- 9.4 APAC - Market size and forecast 2023-2028
- Exhibit 75: Chart on APAC - Market size and forecast 2023-2028 ($ million)
- Exhibit 76: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
- Exhibit 77: Chart on APAC - Year-over-year growth 2023-2028 (%)
- Exhibit 78: Data Table on APAC - Year-over-year growth 2023-2028 (%)
- 9.5 Europe - Market size and forecast 2023-2028
- Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ million)
- Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
- Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)
- 9.6 Middle East and Africa - Market size and forecast 2023-2028
- Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- 9.7 South America - Market size and forecast 2023-2028
- Exhibit 87: Chart on South America - Market size and forecast 2023-2028 ($ million)
- Exhibit 88: Data Table on South America - Market size and forecast 2023-2028 ($ million)
- Exhibit 89: Chart on South America - Year-over-year growth 2023-2028 (%)
- Exhibit 90: Data Table on South America - Year-over-year growth 2023-2028 (%)
- 9.8 US - Market size and forecast 2023-2028
- Exhibit 91: Chart on US - Market size and forecast 2023-2028 ($ million)
- Exhibit 92: Data Table on US - Market size and forecast 2023-2028 ($ million)
- Exhibit 93: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 94: Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.9 China - Market size and forecast 2023-2028
- Exhibit 95: Chart on China - Market size and forecast 2023-2028 ($ million)
- Exhibit 96: Data Table on China - Market size and forecast 2023-2028 ($ million)
- Exhibit 97: Chart on China - Year-over-year growth 2023-2028 (%)
- Exhibit 98: Data Table on China - Year-over-year growth 2023-2028 (%)
- 9.10 Germany - Market size and forecast 2023-2028
- Exhibit 99: Chart on Germany - Market size and forecast 2023-2028 ($ million)
- Exhibit 100: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
- Exhibit 101: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 102: Data Table on Germany - Year-over-year growth 2023-2028 (%)
- 9.11 Japan - Market size and forecast 2023-2028
- Exhibit 103: Chart on Japan - Market size and forecast 2023-2028 ($ million)
- Exhibit 104: Data Table on Japan - Market size and forecast 2023-2028 ($ million)
- Exhibit 105: Chart on Japan - Year-over-year growth 2023-2028 (%)
- Exhibit 106: Data Table on Japan - Year-over-year growth 2023-2028 (%)
- 9.12 UK - Market size and forecast 2023-2028
- Exhibit 107: Chart on UK - Market size and forecast 2023-2028 ($ million)
- Exhibit 108: Data Table on UK - Market size and forecast 2023-2028 ($ million)
- Exhibit 109: Chart on UK - Year-over-year growth 2023-2028 (%)
- Exhibit 110: Data Table on UK - Year-over-year growth 2023-2028 (%)
- 9.13 Market opportunity By Geographical Landscape
- Exhibit 111: Market opportunity By Geographical Landscape ($ million)
- Exhibit 112: Data Tables on Market opportunity By Geographical Landscape ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 113: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 115: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 116: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 117: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 118: Matrix on vendor position and classification
- 12.3 ABB Ltd.
- Exhibit 119: ABB Ltd. - Overview
- Exhibit 120: ABB Ltd. - Business segments
- Exhibit 121: ABB Ltd. - Key offerings
- Exhibit 122: ABB Ltd. - Segment focus
- 12.4 Advent Technologies Holdings Inc.
- Exhibit 123: Advent Technologies Holdings Inc. - Overview
- Exhibit 124: Advent Technologies Holdings Inc. - Product / Service
- Exhibit 125: Advent Technologies Holdings Inc. - Key offerings
- 12.5 Ballard Power Systems Inc.
- Exhibit 126: Ballard Power Systems Inc. - Overview
- Exhibit 127: Ballard Power Systems Inc. - Product / Service
- Exhibit 128: Ballard Power Systems Inc. - Key news
- Exhibit 129: Ballard Power Systems Inc. - Key offerings
- 12.6 Bloom Energy Corp.
- Exhibit 130: Bloom Energy Corp. - Overview
- Exhibit 131: Bloom Energy Corp. - Product / Service
- Exhibit 132: Bloom Energy Corp. - Key news
- Exhibit 133: Bloom Energy Corp. - Key offerings
- 12.7 General Electric Co.
- Exhibit 134: General Electric Co. - Overview
- Exhibit 135: General Electric Co. - Business segments
- Exhibit 136: General Electric Co. - Key news
- Exhibit 137: General Electric Co. - Key offerings
- Exhibit 138: General Electric Co. - Segment focus
- 12.8 Hyster Yale Materials Handling Inc.
- Exhibit 139: Hyster Yale Materials Handling Inc. - Overview
- Exhibit 140: Hyster Yale Materials Handling Inc. - Business segments
- Exhibit 141: Hyster Yale Materials Handling Inc. - Key offerings
- Exhibit 142: Hyster Yale Materials Handling Inc. - Segment focus
- 12.9 MEYER WERFT GmbH and Co. KG
- Exhibit 143: MEYER WERFT GmbH and Co. KG - Overview
- Exhibit 144: MEYER WERFT GmbH and Co. KG - Product / Service
- Exhibit 145: MEYER WERFT GmbH and Co. KG - Key offerings
- 12.10 Nedstack Fuel Cell Technology BV
- Exhibit 146: Nedstack Fuel Cell Technology BV - Overview
- Exhibit 147: Nedstack Fuel Cell Technology BV - Product / Service
- Exhibit 148: Nedstack Fuel Cell Technology BV - Key offerings
- 12.11 Plug Power Inc.
- Exhibit 149: Plug Power Inc. - Overview
- Exhibit 150: Plug Power Inc. - Product / Service
- Exhibit 151: Plug Power Inc. - Key offerings
- 12.12 Proton Motor Power Systems PLC
- Exhibit 152: Proton Motor Power Systems PLC - Overview
- Exhibit 153: Proton Motor Power Systems PLC - Product / Service
- Exhibit 154: Proton Motor Power Systems PLC - Key offerings
- 12.13 SFC Energy AG
- Exhibit 155: SFC Energy AG - Overview
- Exhibit 156: SFC Energy AG - Business segments
- Exhibit 157: SFC Energy AG - Key news
- Exhibit 158: SFC Energy AG - Key offerings
- Exhibit 159: SFC Energy AG - Segment focus
- 12.14 Siemens AG
- Exhibit 160: Siemens AG - Overview
- Exhibit 161: Siemens AG - Business segments
- Exhibit 162: Siemens AG - Key news
- Exhibit 163: Siemens AG - Key offerings
- Exhibit 164: Siemens AG - Segment focus
- 12.15 TECO 2030 ASA
- Exhibit 165: TECO 2030 ASA - Overview
- Exhibit 166: TECO 2030 ASA - Product / Service
- Exhibit 167: TECO 2030 ASA - Key offerings
- 12.16 Toshiba Corp.
- Exhibit 168: Toshiba Corp. - Overview
- Exhibit 169: Toshiba Corp. - Business segments
- Exhibit 170: Toshiba Corp. - Key offerings
- Exhibit 171: Toshiba Corp. - Segment focus
- 12.17 Watt Fuel Cell Corp.
- Exhibit 172: Watt Fuel Cell Corp. - Overview
- Exhibit 173: Watt Fuel Cell Corp. - Product / Service
- Exhibit 174: Watt Fuel Cell Corp. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 175: Inclusions checklist
- Exhibit 176: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 177: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 178: Research methodology
- Exhibit 179: Validation techniques employed for market sizing
- Exhibit 180: Information sources
- 13.5 List of abbreviations
- Exhibit 181: List of abbreviations