Hydrogen and Fuel Cells Market Emerging Factors, Future Demands, and Key Players

Global hydrogen and fuel cells market is expected to exhibit a significant market growth during the forecast period. Fuel cell systems function on hydrogen with zero pollution. The by-products are heat and pure water. At present internal combustion engine systems exhibit thin mixtures of hydrogen and air that might result in extremely low pollution levels occurring due to burning of lubricating oil. Fuel cells systems are driven at a higher thermodynamic efficiency over heat engines. Heat engines such as engines and turbines transform chemical energy into heat through combustion and use heat energy for motion.

In case of fuel cells, there is no combustion and their efficiency does not pertain to max operating temperature. Consequently, the efficacy of the power conversion step is significantly higher. Hydrogen and fuel cell market is driven by rise in demand for renewable fuel sources and environmental concerns owing to pollution. Demand for power enabled sources and consumer awareness are adding to the growth factors. In addition, growing applications of hydrogen and fuel cells are more likely to supplement the market growth during the forecast period. Decline in fuel prices and rise in infrastructural developments across the world supplements the market growth in the forecast period.

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Segmented by type, the market comprises air-cooled type and water-cooled type. By application, the market involves transport, stationary and portable. Geographical segment for hydrogen and fuel cells market comprises North America, South America, Europe, Asia-Pacific, Middle East and Africa. European market is highly predicted to witness a robust market growth during the forecast period due to demand for fuel applications. North America market is likely to witness a remarkable growth during the forecast period thanks to infrastructural development and inclination towards renewable source of energy.

The key players profiled in the hydrogen and fuel cells market is Intelligent Energy Holdings plc, Plug Power Inc, Ballard Power Systems, Nedstack Fuel Cell Technology B.V., Hydrogenics Corporation, Doosan Fuel Cell, Horizon Fuel Cells Technologies and FuelCell Energy Inc.

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Wind Power Systems Market Analysis, Growth, and Forecast

The global wind power systems market is expected to display higher growth rate over the next five years. Rapid surge in the wind power system market is credited to rising energy demand and shifting trend towards renewable energy. Growing demand to substitute conventional sources of energy with renewable energy is expected to drive the growth of the market over the forecast period. Globally, market is predicted to generate massive revenue over next five years, providing numerous opportunities for market players to invest for research and development in the wind power systems market.

Favorable government policies to promote use of renewable energy sources such as solar power, hydropower, wind power and biomass is anticipated to offer lucrative growth opportunities for market players over the forecast period. Implication of various regulatory reforms to limit carbon footprints and reduce dependency on conventional energy sources is promoting power generation with the help of wind turbine systems. However, higher initial cost of generating electricity from renewable energy sources in comparison with conventional sources is predicted to restrain market growth to a certain extent. Yet, rise in number of research & development activities to develop cost efficient solution, particularly in European and Asia Pacific region is fostering industry expansion in the past few years.

European region has emerged as the leading market for wind power systems due favorable government policies via tax cuts, subsidies and discounts, majorly in EU-27 economies. Great efforts are made to limit carbon footprints with the help of regulatory framework and new legislations, to ensure sustainable growth of wind power systems market in the region.

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The market is broadly categorized into major segments based on application type such as industrial sector, residential sector and commercial sector. Industrial segment is growing rapidly in the wind power systems market with substantial revenue generation in the last few years. Growing popularity of wind power systems in industrial segment is attributed to the strong regulatory support for sustainable energy for industrial applications.

The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in power & energy generation sector, surge in research & development activities in the region and existence of well-established industrial infrastructure. The market is expected to gain a higher momentum in European region due to favorable government laws & regulation and shifting trend towards renewable energy generation.

Asia-Pacific region is estimated to hold major share in the wind power system market with massive growth in forecast period. Countries such as India, South Korea, Japan, Australia, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising energy demands, growing concerns related to air pollution, limited availability of natural gas reserves, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the wind power systems market are General Electric Company, Nexans S.A., Prysmian Group, Inc., Siemens Gamesa Renewable Energy S.A., Vestas Wind Systems A/S, Xinjiang Goldwind Science & Technology Co., Ltd., Suzlon Group Ltd., Goldwind, Inc., and United Power, Inc.

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Small Wind Turbines Market SWOT Analysis and Growth Opportunities

03 June 2019, Global small wind turbines market is anticipated to witness an exponential growth in the forecast period. Small wind turbines are connected to the grid through the power suppliers or they can stand alone (off-grid). The factors that propel the growth of the market include growing investments in renewable energy, cost efficiency of the wind energy, and the technical innovations and presence of key end users.

On the other hand, there is a factor that may hamper the growth of the market including the decreasing cost of solar PV modules. Market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Market could be explored by product type, power rating, application, end user and geography. Market by product type could span Vertical-Axis Wind Turbine and Horizontal-Axis Wind Turbine. 

The “Horizontal-Axis Wind Turbine” sector led the small wind turbines market in 2016 and will continue to lead in the forecast period. The key factors that could be attributed to the growth include the benefits offers such as variable pitch blade capacity, high producing capacity, improved effectiveness, and tall towers that capture a huge amount of wind energy.

Small Wind Turbines Market

Based on power rating, the market could be categorized into up to 50 kW and 51-100 kW capacity range. The “51-100 kW” segment led the market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing demand for affordable and clean energy across the globe.

Small wind turbines market could be explored by application as On-Grid and Off-Grid. The “Off-Grid” segment led the market in 2017 and will continue to lead in the forecast period. An off-grid solution is a system that works individually and is not connected to the electricity distribution system. It also termed as “Stand-alone Systems”. Off-Grid segment is followed by On-Grid and is anticipated to grow high in the years to come. Market could be explored based on the end user as Hospital, Municipal and Government and Airport.

APAC accounted for the major share of the small wind turbines market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing preference towards the acceptance of small wind turbines for generation of electricity and occurrence of offshore and onshore counties with good wind speeds for installations of small wind turbines in this region.

Some of the key players that fuel the growth of the small wind turbines market comprise Kingspan Group Plc, Bergey Wind Power Co, Northern Power Systems Inc, Shanghai Ghrepower Green Energy Co., Ltd., Xzeres Wind Corp, City Windmills Holdings PLC, Endurance Wind Power Inc, Fortis Wind, Kliux Energies, Aeolos Wind Energy Ltd, and among others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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