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Fuel Cells For Marine Vessels Market 2021 Global Estimation, Dynamics, Outlook, Research, Trends

Fuel cells are flexible in nature and can be used as a single cell or in stacks. As a result, the power produced can be channelized through a ship, without an increase in the consumption of conventional fuel. Fuel cells are used in marine vessels to power the propulsion system and cater to the onboard energy consumption requirements. The increased need for alternate propulsion system will create new growth opportunities for the market players. The factors driving the growth of the fuel cells for the marine vessels market are increasing demand for alternative propulsion systems, low operating costs, and focus on curbing pollution. However, there are some shortcomings in the operative performance of the fuel cells for marine vessels such as high capital cost, low lifetime of fuel cell stack, and issues in the design of propulsion system. The market for fuel cells for marine vessels is estimated to witness 6% CAGR during the forecast period.



On the basis of region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. In North America, the rising investment in the fuel cell technology in both military and commercial marine sectors. In the European region, increase in several industry consortia developing fuel cell powered vessels. Meanwhile, in 2016, Meyer Werft GmbH & Co. KG signed a contract with thyssenkrupp Marine Systems GmbH to developed fuel cell system for seagoing vessels under e4ships program. Similarly, in 2013, Nuvera Fuel Cells, Llc, signed a contract with Italian Shipbuilder, Fincentieri S.p.A, to produce and deliver fuel cell stacks for use on marine vessels.


The scope of the Report


This study provides an overview of the Fuel Cells for Marine Vessels Market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa and Latin America. 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 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


Key Players


The key players in fuel cells for marine vessels market 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.).



About Market Research Future:


At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.


MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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