Portable Fuel Cell Market Analysis

Fuel Type (Hydrogen, Methanol, Ethanol, Butane, Oxide)

The hydrogen segment in the portable fuel cell market is estimated to gain the largest revenue share of about 31% in the year 2037, owing to the rising preference for hydrogen which lessens the reliance on fossil fuels and lowers the emission of carbon dioxide for protection of the environment. Further, the demand for hydrogen is estimated to increase as the result of several government regulations to save nature and the earth is anticipated to bolster segment growth in the estimated period. For instance, in 2021, the world's demand for hydrogen increased by 5% to 94 Mt, primarily owing to increased activity in the chemical and refining industries. Moreover, the consumption of hydrogen was 91 Mt in 2019.

End User (Marine, Automotive, Government Utilities, Defense)

Portable fuel cell market from the automotive segment is expected to garner a significant share in the year 2037. This can be impelled by the rising demand & production rate of automobiles and the high utilization rate of the portable fuel cell to ensure the proper functioning of the electrical system of the vehicle. The International Organization of Motor Vehicle Manufacturers (OICA), released global sales of vehicle statistics which revealed that it rose to 56 million in 2021 from 53 million in 2020. Whereas, the global production of vehicles was calculated to be 57 million in 2021. 

Our in-depth analysis of the global market includes the following segments: