Fuel Cell Humidifier Market Report Overview
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The global fuel cell humidifier market size is expected to be USD 57.57 million in 2021 the market is projected to touch USD 144.52 million in 2031, exhibiting a CAGR of 9.56% during the forecast period.
The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
A fuel cell uses hydrogen’s chemical energy or other fuels to yield electricity cleanly and effectively. When hydrogen is used as a fuel, the only byproducts are power, water, and heat. There are multiple uses for fuel cells, including in residential, commercial, and transportation infrastructure. A humidifier is typically used to accomplish this step because the reaction medium must convey a specific amount of water vapor into the fuel cell reactor during the reaction process for the proton exchange membrane to maintain a high reflection efficiency. Fuel cell humidifiers can assist in preserving the thermal energy and humidity inside the fuel cell for optimum performance and durability.
A fuel cell humidifier shields the fuel cell membranes from drying out. By transporting water vapor from the exhaust air to the intake air compressor, humidifiers also offer humidity. The fuel cell membrane humidifier market is expected to expand as a result of the increasing expansions in the production of fuel cells and hydrogen fuel vehicles brought on by strict environmental legislation. In addition, the expanding government investment in the transportation industry is expected to fuel market expansion.
COVID-19 Impact: Ban on Transportation Hindered Market Growth
Numerous economic and industrial sectors have been impacted by the COVID-19 pandemic, which has halted new investments in numerous industries. Despite the particular catastrophe brought on by the outbreak of this global health issue, it is projected that the pandemic situation will have a minimal impact on the hydrogen sector. The considerable lack of financial liquidity among small players as a result of the economic recession is one of the primary short-term challenges. This shortcoming could lead to a temporary drop in revenues and working professionals and the absence of small-scale technology providers. Additionally, the COVID-19 epidemic could make it more difficult for governments to meet their emission targets because of customer cash flow issues, even if environmental and climate change issues remain the biggest threat to the globe.
LATEST TRENDS
"Rapid Innovation in the Development of Heavy and Medium-Duty Vehicles to Aid Growth"
Various companies strive to perform development activities to bring out advanced technologies in fuel cell humidifiers. A large number of players are integrating technologies across their horizons to improve the vehicle’s power output efficiency. The hydrogen infrastructure plays a significant role in placing FCEVs on roads by handling their refueling needs. Additionally, many key players are focusing on building new fueling stations and producing clean hydrogen fuel to propel the expansion of fuel cell electric vehicles.
Fuel Cell Humidifier Market Segmentation
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- By Type Analysis
By type, the market is segmented into hollow fiber membrane humidifiers and flat membrane humidifiers.
- By Application Analysis
Based on application, the market is classified into commercial and passenger vehicles.
DRIVING FACTORS
"Rising Concern Towards Fuel Cell Efficiency to Drive Product Demand"
Numerous governments have established ambitious goals to put a significant number of FCEVs on the road in the short, medium, and long terms. Regional governments have also started a number of financial and tax-benefit schemes to encourage this enormous step forward in order to accomplish these lofty goals. The market is expected to benefit from strict measures adopted to control dangerous discharges from diverse sources. Supporting international agreements to reduce greenhouse gas emissions will consequently encourage more people to buy zero-emission cars (ZEVs).
"Stringent Environmental Regulations to Foster Market Growth"
The rising fuel cell and hydrogen car production, due to stringent environmental regulations, is expected to augment the fuel cell humidifier market growth. Additionally, it is anticipated that rising government spending in the transportation sector will stimulate market growth. The market for businesses that provide water to gas humidification is anticipated to grow more in the future. For instance, the FC Series and Monotube Humidifier Series of water-to-gas humidifiers are offered for sale by Perma Pure. The fuel cell humidifier market is anticipated to be impacted by the growing need for fuel cell humidifiers to maintain the system's proper hydration and the expanding automotive industry.
RESTRAINING FACTORS
"High Initial Investment and The Presence of an Electric Vehicle to Hamper Market Growth"
The easy availability of electric vehicles and the development of the automobile fuel cell market may be hampered by battery electric vehicle (BEV) companies' extensive large-scale production capabilities. The adoption of fuel cell vehicles may also be constrained by the high production costs connected with them in many nations. However, many governmental and private businesses are working hard to close the gap between these deficiencies. These factors are expected to hamper the fuel cell humidifier market growth.
Fuel Cell Humidifier Market Regional Insights
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"Asia Pacific to Dominate Market Due to the Growing Demand for Reducing Carbon Emissions"
Asia Pacific is expected to hold a dominating part of the fuel cell humidifier market share due to the rising fuel cell electric vehicle deployment targets. The rising investment by the government in the development of hydrogen fuel cell humidifiers is also estimated to augment growth in the region.
Europe is forecasted to show significant growth in the global market by virtue of the rising emphasis of the government on the formulation of various norms that mandates carbon reduction targets on vehicles.
North America is forecasted to show sizable growth in the market owing to the rising R&D activities by key players existing in the region.
KEY INDUSTRY PLAYERS
"Key Players Focusing On Innovative Technology Development to Grow in Market"
Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products.
List of Market Players Profiled
- Shanghai Super Power Technology Co. Ltd (China)
- Pentair (U.S.)
- Emprise (U.S.)
- Pentair Engineered Filtration (U.S.)
- Mann+ Hummel (Germany)
- Smart Fog (U.S.)
- dPoint Technologies (Canada)
- Freudenberg Filtration Technologies SE & Co. KG KOLON (Germany)
- Norsk Analyze AS (Norway)
- Perma Pure LLC (U.S.)
- Szextender (China)
REPORT COVERAGE
The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. From 2017 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 57.57 Million in 2021 |
Market Size Value By |
US$ 144.52 Million by 2031 |
Growth Rate |
CAGR of 9.56% from 2021 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the fuel cell humidifier market expected to touch by 2031?
Based on our research, the fuel cell humidifier market is projected to touch USD 144.52 million in 2031.
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What CAGR is the fuel cell humidifier market expected to exhibit by 2031?
The fuel cell humidifier market is expected to exhibit a CAGR of 9.56% by 2031.
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What are the segments of the fuel cell humidifier market?
By type, the fuel cell humidifier market is segmented into hollow fiber membrane humidifiers and flat membrane humidifiers. Based on application, the market is classified into commercial and passenger vehicles.
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Which are the driving factors of the fuel cell humidifier market?
Rising concern towards fuel cell efficiency to drive product demand and the stringent environmental regulations to foster market growth are the factors driving the fuel cell humidifier market.
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Which are the top companies operating in the fuel cell humidifier market?
Shanghai Super Power Technology Co.Ltd., Pentair, Emprise, Pentair Engineered Filtration, Mann+Hummel, Smart Fog, dPoint Technologies, Freudenberg Filtration Technologies SE & Co. KG KOLON, Norsk Analyze AS, Perma Pure LLC, and Szextender are the top companies operating in the fuel cell humidifier market.