Bipolar Plates Market To Grow USD 1,870.64 Million By 2029 With a CAGR of 22.15% | Valuates Reports
BANGALORE, India, June 20, 2023 /PRNewswire/ -- Bipolar Plates Market is segmented by type (Graphite, Metal, Composite), by application (Proton Exchange Membrane Fuel Cells (PEMFC), Solid Oxide Fuel Cells (SOFC), Molten Carbonate Fuel Cells (MCFC), Phosphoric Acid Fuel Cells (PAFC), Others) : Global Opportunity Analysis and Industry Forecast 2023–2029. It is published in Valuates Reports under the Computers & Electronics Category.
Due to the COVID-19 pandemic, the global Bipolar Plates market size is estimated to be worth USD 465.14 million in 2022 and is forecast to a readjusted size of USD 1,870.64 million by 2029 with a CAGR of 22.15% during the review period.
Major Factors Driving the Growth of the Bipolar Plates Market
Growing government activities on fuel cell projects that emphasize the implications of carbon emissions while delivering a reliable and clean form of energy production are expected to drive the growth of the Bipolar Plates market. In addition, the Bipolar Plates market is driven by investments in fuel cell bipolar subsidiaries.
The Bipolar Plates market is expanding as a result of the increased demand for fuel cells in several industries, including automotive, portable electronics, stationary power, and backup power. Producers are stepping up their R&D efforts to create ultra-compact and light bipolar plates composed of carbon for PEM fuel cells.
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TRENDS INFLUENCING THE GROWTH OF THE BIPOLAR PLATES MARKET
Fuel cells, which are getting a lot of attention as a clean and effective energy option, depend heavily on bipolar plates. Numerous industries, including the automobile, stationary power generation, portable power, and aerospace, employ fuel cells. The requirement for bipolar plates is being driven by the rising fuel cell demand in various industries, which is boosting the Bipolar Plates market expansion.
The Bipolar Plates market is expanding as a result of the global trend toward clean and renewable energy sources. Bipolar plate fuel cells, which use hydrogen as a clean fuel and generate power with little harm to the environment, are regarded as sustainable energy technology. The demand for bipolar plates is being driven by rising government programs and investment in renewable energy technology.
Strict laws and emission requirements have been put in place all over the world as a result of environmental concerns, such as greenhouse gas emissions and air pollution. Bipolar plates are essential in lowering carbon emissions because they make it possible for fuel cells to produce energy effectively. The requirement for bipolar plates in fuel cells is anticipated to rise as governments and regulatory organizations implement higher emission requirements. This factor is expected to drive the growth of the Bipolar Plates market.
A more environmentally friendly option to conventional internal combustion engine automobiles is electric vehicles (EVs). Bipolar plates are necessary for the effective operation of fuel cell electric vehicles (FCEVs), which employ fuel cells as their source of electricity. The need for bipolar plates in the automobile industry is being driven by the growing use of FCEVs, which is being aided by government incentives and initiatives. This factor is expected to drive the growth of the Bipolar Plates market.
Governments, academic institutions, and business entities are making significant investments in R&D projects to advance fuel cell technology and related parts such as bipolar plates. These expenditures are promoting innovations, enhancing performance, and bringing down bipolar plates' total prices. The market for bipolar plates is anticipated to develop as a result of the ongoing emphasis on R&D. This factor is expected to drive the growth of the Bipolar Plates market.
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BIPOLAR PLATES MARKET SHARE ANALYSIS
Due to its lower electrical resistance and good chemical stability in acidic environments, the graphite material category now holds the majority of the market share. Graphite has also been used in single cells and lab-scale fuel cell development for greater stack sizes, aside from that.
The bipolar plate is an essential part of proton exchange membrane fuel cells because it carries reactant gasses and the current to the end plates from the membrane element, two factors that drive the market for fuel cell bipolar plates.
Due to the increasing need for cleaner energy to address environmental problems brought on by old energy technologies across the area, including India, Japan, and others, the Asia Pacific is predicted to lead the most significant market.
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By Company
- Dana
- Cell Impact
- Schunk Group
- Nisshinbo
- FJ Composite
- VinaTech (Ace Creation)
- LEADTECH International
- Dongguan Jiecheng Graphite Products
- Shanghai Hongjun
- Nantong Zhuolida Metal Technology
- Anhui Mingtian Hydrogen Energy Technology
- Hunan Zenpon Hydrogen Energy Technology
- Shanghai Yoogle Metal Technology
- Zhejiang Harog Technology
- Ballard
- ElringKlinger
- SGL Carbon
- Shanghai Hongfeng
- Shanghai Shenli
- Shenzhen Jiayu
- Guangdong Nation-Synergy Hydrogen Power Technology Co
- Shanghai Zhizhen
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