Fuel Cell Bipolar Plate Market: Current Analysis and Forecast (2023-2030)
Emphasis on Material (Graphite, Metal, Carbon Composite); Application (Proton exchange membrane, Solid oxide, Phosphoric acid, Molten carbonate, and Direct methanol); Region/Country.
The Global Fuel Cell Bipolar Plate Market was valued at USD 4 billion in 2022 & is expected to grow at a CAGR of 57% from 2023-2030. A fuel cell is an electrochemical cell that converts the chemical energy of a fuel (often hydrogen) and an oxidizing agent (often oxygen) into electricity through a pair of redox reactions. Fuel cells are different from most batteries in requiring a continuous source of fuel and oxygen (usually from the air) to sustain the chemical reaction, whereas in a battery the chemical energy usually comes from metals and their ions or oxides that are commonly already present in the battery, except in flow batteries. Fuel cells can produce electricity continuously for as long as fuel and oxygen are supplied. Bipolar plates may be made of different types of materials, such as metal, coated metal, graphite, flexible graphite, C–C composite, carbon–polymer composites, etc. Platinum and/or similar types of noble metals are usually used as the catalyst for PEMFC. The electrolyte could be a polymer membrane. Factors such as the increasing demand for electricity coupled with the surge in investment in clean energy generation. Major companies in the market offer fuel cell bipolar plate to provide global mobility and energy solutions. For instance, in Jun 2022, Symbio and Schaeffler’s new JV Innoplate produced fuel cell bipolar plates for global mobility and energy solutions.
Some of the major players operating in the market include POCO; Interplex Holdings Pte. Ltd; Bloom Energy; Ballard Power Systems Inc.; Dana Limited; Cell Impact AB; Impact Coatings AB; Pragma Industries; Technical Fibre Products Limited; and Schunk Carbon Technology.
Insights Presented in the Report
“Based on material, Graphite category is expected to grow with a significant CAGR during the forecast period”
Based on material, the market is segmented into graphite, metal, carbon composite, and others. Graphite category is expected to grow with a significant CAGR during the forecast period. This is mainly used to separate the positive and negative electrodes in a fuel cell. These plates are responsible for conducting electricity between the electrodes and facilitating the flow of hydrogen and oxygen gases. The use of graphite material in fuel cell bipolar plates is driven by several factors, including its high electrical conductivity, high thermal conductivity, and excellent mechanical properties. Graphite material is also relatively inexpensive and widely available, making it an attractive choice for use in fuel cell bipolar plates.
“Based on application, proton exchange membrane is expected to grow with a significant CAGR during the forecast period”
Based on application, the fuel cell bipolar plate market has been classified into proton exchange membrane, solid oxide, phosphoric acid, molten carbonate, and direct methanol. The proton exchange membrane is expected to grow with a significant CAGR during the forecast period. This is mainly due to the used to separate the positive and negative electrodes in a fuel cell and allow the flow of protons, which are necessary for the electrochemical reaction that produces electricity. PEMs are driven by several factors, including their high proton conductivity, low electrical resistance, and good mechanical stability. These properties make PEMs an ideal choice for use in fuel cell bipolar plates, as they enable the efficient and reliable operation of fuel cells in a variety of applications. Additionally, PEMs can be easily modified to improve their performance in specific applications, such as increasing their proton conductivity or adding catalytic properties.
“APAC is anticipated to grow at a substantial CAGR during the forecast period”
APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly because the APAC region is home to a large and growing population, as well as a rapidly expanding middle class, which presents a significant market opportunity for fuel cell technology. Additionally, the APAC region is home to several major economies, including China, Japan, and South Korea, which are all investing heavily in the development and deployment of fuel cell technology. These economies are also home to a large and skilled workforce, which can help to drive the development and production of fuel cell bipolar plates. Furthermore, the APAC region has a favorable regulatory environment for the adoption of fuel cell technology, with many governments providing incentives and subsidies to encourage the use of clean energy sources. Thus, such factors are the reasons for the growth of the fuel cell bipolar plate industry in the APAC region.
Fuel Cell Bipolar Plate Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The fuel cell bipolar plate market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Fuel Cell Bipolar Plate Market (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the fuel cell bipolar plate market were the three major steps undertaken to create and analyze the adoption of fuel cell bipolar plate market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Fuel Cell Bipolar Plate Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Fuel Cell Bipolar Plate Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the fuel cell bipolar plate market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as material and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the fuel cell bipolar plate market. Further, we conducted factor analysis using dependent and independent variables such as material and application of the fuel cell bipolar plate market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the fuel cell bipolar plate market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global fuel cell bipolar plate market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the fuel cell bipolar plate market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the fuel cell bipolar plate market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global fuel cell bipolar plate market data was split into several segments & sub-segments post studying various parameters and trends in the areas of the material and application in the global fuel cell bipolar plate market.
The main objective of the Fuel Cell Bipolar Plate Market Study
The current & future market trends of the Fuel Cell Bipolar Plate Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Fuel Cell Bipolar Plate Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the material and application
- Define and analysis of the regulatory framework for the fuel cell bipolar plate market industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the fuel cell bipolar plate market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the fuel cell bipolar plate market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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