Fuel Cell Forklift Market
Published Date: 09 Aug 2022
Number of Pages: 148
Category: Energy and Utilities
Country: United States of America
This report analyses different technologies, applications, and regional market development in the fuel cell forklifts market. This report also covers market analysis for countries such as the U.S., China, Japan, and others, where the opportunities for fuel cell forklifts are lucrative. However, deployment data for fuel cell forklifts is not available for all the countries.
The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current, and future market scenarios. The report also covers leading companies with information on product types, business footprint, revenue, employee strength, etc. We have also covered a list of other companies in the global and regional market with their product-related information. Aside from this, the analyst has also covered the patent analysis for the fuel cell forklift market.
We have included inflation in the product pricing which is reflected in the market value of the historic year, while the forecasted values are nominal values.
The report also examines the impact of COVID-19 on the global and regional level. 2021 is considered a historic/base year, 2022 is an estimated year, and the market values are forecasted for five years until 2027. All market values are in the dollar ($) million and volume is measured in units.
- 33 data tables and 16 additional tables
- A brief general overview of the global markets for fuel cell forklifts within the industry
- Analyses of the global market trends, with market revenue for 2021, estimates for 2022, 2024, and 2026, along with the projections of compound annual growth rates (CAGRs) through 2027
- Estimation of the actual market size for fuel cell forklift technology, market forecast in value and volumetric terms, and corresponding market share analysis based on technology type, application, power capacity, and region
- Updated information on market opportunities and drivers, key shifts and regulations, industry specific challenges, and other region-specific macroeconomic factors that will shape this market demand in the coming years (2022-2027)
- Coverage of the technological, economic, and business considerations of the fuel cell forklift market and its vendor landscape
- Discussion of the industry value chain analysis providing a systematic study of key intermediaries involved, with emphasis on recent developments and regulations and standards for fuel cell forklifts
- Review of registered patents filed on various technologies for fuel cell forklifts during 2020-2022, and their corresponding patent share analysis
- Insight into the company competitive landscape featuring top players in the eco-structure of fuel cell forklift industry, their recent market developments and key strategies adopted
- Descriptive company profiles of the leading global players, including Air Liquide S.A., Hyster-Yale Materials Handling Inc., Kion Group AG, and Plug Power Inc.
Fuel cells are the future technology which can alter the conventional energy sources such as gasoline, diesel, LPG, and others, in the coming decades. Fuel cells are being used in the material handling industry as these cells are more efficient than the conventional technologies. Fuel cell forklifts require only 2-3 minutes to refuel. While traditional battery-powered forklifts require around 3-5 hours to recharge the battery. The battery swapping is also a time consuming task requiring labor and hoisting systems. Currently, the spendings for battery-powered forklifts are high compared to fuel cell forklifts. But, in ten-yearoperational time periods, fuel cell forkliftswill be the less costly option to consumers, as
opposed to battery-powered forklifts. Therefore, retail industry companies such as Amazon and Walmart are using these forklifts to gain long termbenefits as they are experiencing an increase in their productivity.
According to BCC Research estimations, the global value of fuel cell forklifts is expected to reach REDACTED, with a CAGR of REDACTED, by the end of forecast period. The U.S. is projected to dominate in the global market, in terms of value, during the forecast period, as hydrogen fuel has been a viable option in this country
Reasons for Doing This Study:
Fuel cell is a clean energy technology and can be used as green fuel in many industries, from automotive to medical to electronics. Pollution levels are increasing at an alarming rate and greenhouse gases have started to damage the environmental structure. Most countries are working towards the development and commercialization of clean fuels such as hydrogen, which does not emit any kind of harmful gases after burning. Historically, the material handling industry has been an important sector in GDP development for all countries. By using nonrenewable fuels, such as LPG, diesel, and gasoline, significant levels of harmful gases are generated which can affect the health of those working in warehouses and factories. Therefore, forklift users are also shifting to the use of battery power forklifts; however, these forklifts require a dedicated space in the warehouse for battery storing, recharging, and swapping. For warehouses, retailing centers, plants, factories, and others, productivity is the key criteria for generating revenue. Therefore, forklift users are showing interest in using fuel cell forklifts as they take less time to refuel and the overall expenditure for these forklifts is comparatively less over a 10-year period.
Due to these changes and the rising adoption of hydrogen-powered forklifts, BCC has decided to analyze the market and measure the impact of these advanced forklifts on the conventional forklift market.
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
BCC Custom Research
Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Current Market Overview
History of the Forklift
Development Trend of Fuel Cell Forklift
Advantages of Fuel Cell Forklift
Cost-Effective in Long Term
Slashes Electricity Use
Withstands Extreme Temperatures
Occupies Less Space
Decreases Carbon Footprint
Growing Commercial Adoption
Types of Fuel Cells
Polymer Electrolyte Membrane (PEM)
Direct Methanol Fuel Cells
Alkaline Fuel Cells
Phosphoric Acid Fuel Cells
Molten Carbonate Fuel Cells
Solid Oxide Fuel Cells
Reversible Fuel Cells
Comparison Between Infrastructure for Advanced Technology and Conventional Technology
Comparison Between Fuel Cell Forklift and Battery Forklift
Cost Comparison for Class 1 Material Handling Equipment Basis to Different Factors
Greenhouse Gas Emission from Different Types of Forklifts
Component of Fuel Cell
Fuel Cell Stack
Component of PEM Fuel Cell
Membrane Electrode Assembly
Hydrogen Production Methods
Components of Hydrogen Infrastructure for Fuel Cell Forklifts
Material Handling Equipment Overview
Bulk Material Handling Equipment
Policy Framework for the Promotion of Fuel Cell Powered Forklifts
North America: U.S. and Canada
Japan, China, South Korea, and Germany
Cost of Fuel Cell Forklifts by Country
Value Chain Analysis for Global Fuel Cell Forklifts Market
Fuel Cell Stack Manufacturers
Power Pack System Integrators
Forklift OEMs (Original Equipment Manufacturers)
Global Market Dynamics
Current Market Trends
Porters Five Forces Model
Threat of New Entrants
Threat of Substitute
Associations, Regulatory Bodies, Research Institutes, and Others
Impact of COVID-19 and Ukraine-Russia War on the Global Market
Russia and Ukraine War Impact
Industry Expert Insights
Chapter 4 Global Market for Fuel Cell Forklifts by Key Segment
Global Market for Fuel Cell Forklifts by Technology Type
Global Market for Fuel Cell Forklifts by Application
Global Market for Fuel Cell Forklifts by Power
Chapter 5 Market Breakdown by Country/Region
U.S. Market for Fuel Cell Forklifts
Fuel Cell Forklift Deployment History
U.S. Market for Fuel Cell Forklifts by Technology Type
U.S. Market for Fuel Cell Forklifts by Application
U.S. Market for Fuel Cell Forklifts by Power
European Market for Fuel Cell Forklifts
European Market for Fuel Cell Forklifts by Country
Fuel Cell Forklift Deployment History
European Market for Fuel Cell Forklifts by Technology Type
European Market for Fuel Cell Forklifts by Application
European Market for Fuel Cell Forklifts by Power
Chinese and Japanese Market for Fuel Cell Forklifts
Fuel Cell Forklifts Deployment History
Chinese and Japanese Market for Fuel Cell Forklifts by Technology Type
Chinese and Japanese Market for Fuel Cell Forklifts by Application
Chinese and Japanese Market for Fuel Cell Forklifts by Power
Chinese and Japanese Market for Fuel Cell Forklifts by Country/Region
Chapter 6 Competitive Landscape
Top Players in the Global Market for Fuel Cell Forklifts
Overall Strategies Adopted by Fuel Cell Forklift Players
Chapter 7 Company Profiles
AIR LIQUIDE S.A.
ANHUI HELI CO. LTD.
AURIGA ENERGY LTD.
BALLARD POWER SYSTEMS INC.
BEIJING SINOHYTEC CO. LTD.
HYSTER-YALE MATERIALS HANDLING INC.
KION GROUP AG
PLUG POWER INC.
PROTON MOTOR FUEL CELL GMBH
SHANGHAI PEARL HYDROGEN ENERGY TECHNOLOGY CO. LTD.
TOYOTA MATERIAL HANDLING EUROPE
List of Other Players
Chapter 8 Appendix: Abbreviations