Molten Carbonate Fuel Cells (MCFCs) Market Size to Grow by 107.55 MW through 2021-2025  

Technavio research projects the molten carbonate fuel cells (MCFCs) market to grow by 107.55 MW, accelerating at a CAGR of over 26% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Molten Carbonate Fuel Cells (MCFCs) Market: Key Market Driver

One of the primary factors that will trigger the growth of the molten carbonate fuel cells (MCFCs) market size is rise in demand for clean energy. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Molten Carbonate Fuel Cells (MCFCs) Market: Vendor Analysis

The market is concentrated due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Ballard Power Systems Inc., Bloom Energy, Fuji Electric Co. Ltd., Ceres Power Holdings plc, Doosan Fuel Cell Co. Ltd., FuelCell Energy Inc., Panasonic Corp., Plug Power Inc., SFC Energy AG, and Toshiba Energy Systems & Solutions Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

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Technavio has been monitoring the global molten carbonate fuel cells (MCFCS) market and it is expected to grow by 107.55 MW accelerating at a CAGR of over 26% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. 

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Market Driver: Rise in demand for clean energy to drive growth

The rise in demand for clean energy is driving the global molten carbonate fuel cells market growth. Strong economic growth and the resultant demand for clean energy has led to an increase in the requirement for molten carbonate fuel cells. These cells provide clean energy in the form of electricity from electrochemical reactions.

Leading Application Segment: Utilities, C and I, and others

The utilities are seeking alternatives to traditional power supply modalities owing to concerns such as aging energy transmission networks, grid congestion, and development of remote areas. Moreover, the demand for clean energy sources to fulfill energy needs due to environmental concerns has provided huge growth opportunities for the global MCFCs market. The growth of the utilities segment is expected to be significant during the forecast period.

Key Emerging Trend: Growing vendor collaborations and PPAs

The growing vendor collaborations and PPAs are positively impacting the global molten carbonate fuel cells market. Vendor collaborations and PPAs encourage several end-users to invest in the molten carbonate fuel cells market. The rise in demand for clean energy, coupled with the growing vendor collaborations and PPAs, will drive the molten carbonate fuel cells market growth during the forecast period.

MCFCS Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Ballard Power Systems Inc., Bloom Energy, Fuji Electric Co. Ltd., Ceres Power Holdings plc, Doosan Fuel Cell Co. Ltd., FuelCell Energy Inc., Panasonic Corp., Plug Power Inc., SFC Energy AG, and Toshiba Energy Systems & Solutions Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights from the perspective of global industry trends, regional market influences and supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download Free Sample Report