Report Scope:
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.
Report Includes:
- 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.
Summary:
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.
Global Fuel Cell Forklift Market
Table of Contents
Chapter 1 Introduction
Overview
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Information Sources
Intended Audience
Research Methodology
Regional Breakdown
Analyst's Credentials
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
High Productivity
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
Fuel Processor
Power Conditioners
Air Compressors
Humidifiers
Component of PEM Fuel Cell
Membrane Electrode Assembly
Hardware
Hydrogen Production Methods
Components of Hydrogen Infrastructure for Fuel Cell Forklifts
Material Handling Equipment Overview
Bulk Material Handling Equipment
Engineered System
Industrial Trucks
Policy Framework for the Promotion of Fuel Cell Powered Forklifts
Europe
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)
Forklift Users
Global Market Dynamics
Market Drivers
Market Restraints
Key Challenges
Current Market Trends
Market Opportunities
Porter's Five Forces Model
Supplier Power
Buyer Power
Threat of New Entrants
Threat of Substitute
Competitive Rivalry
Associations, Regulatory Bodies, Research Institutes, and Others
Impact of COVID-19 and Ukraine-Russia War on the Global Market
COVID-19 Impact
Russia and Ukraine War Impact
Industry Expert Insights
Patent Analysis
Chapter 4 Global Market for Fuel Cell Forklifts by Key Segment
Introduction
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
Introduction
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
Introduction
Top Players in the Global Market for Fuel Cell Forklifts
Overall Strategies Adopted by Fuel Cell Forklift Players
Key Developments
Chapter 7 Company Profiles
Key Companies
AIR LIQUIDE S.A.
ANHUI HELI CO. LTD.
AURIGA ENERGY LTD.
BALLARD POWER SYSTEMS INC.
BEIJING SINOHYTEC CO. LTD.
HYSTER-YALE MATERIALS HANDLING INC.
JOHNSON MATTHEY
KION GROUP AG
NEL ASA
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
List of Tables
Summary Table : Global Market for Fuel Cell Forklifts, by Region/Country, Through 2027
Table 1 : Evolution in the Global Fuel Cell Forklift Industry
Table 2 : Type of Fuel Cells and Their Properties
Table 3 : Type of Fuel Cells With Applications, Advantages, and Challenges
Table 4 : Comparison of Battery Powered (Li-ion) and Fuel Cell Powered (PEM Technology) Material Handling Equipment
Table 5 : General Facility and Capital Cost Inputs for Class 1 and 2 Material Handling Equipment (MHE)
Table 6 : Infrastructure and Operational Cost Inputs for Class 1 and 2 Material Handling Equipment (MHE)
Table 7 : ARRA Awards for Fuel Cell Specialty Vehicles Projects Within the Early Market Sector
Table 8 : Various Resources for Fuel Cell Forklifts
Table 9 : Patent Shares of Various Technologies for Fuel Cell Forklifts, 2020-2022
Table 10 : Global Market for Fuel Cell Forklifts, by Technology Type, Through 2027
Table 11 : Global Market Volume for Fuel Cell Forklifts, by Technology Type, Through 2027
Table 12 : Global Market for Fuel Cell Forklifts, by Application, Through 2027
Table 13 : Global Market Volume for Fuel Cell Forklifts, by Application, Through 2027
Table 14 : Global Market for Fuel Cell Forklifts, by Power, Through 2027
Table 15 : Global Market Volume for Fuel Cell Forklifts, by Power, Through 2027
Table 16 : Actions and Targets in Europe for Fuel Cell Forklifts
Table 17 : Global Market for Fuel Cell Forklifts, by Country/Region, Through 2027
Table 18 : Global Market Volume for Fuel Cell Forklifts, by Country/Region, Through 2027
Table 19 : Fuel Cell Forklift Deployment Across the U.S.
Table 20 : List of Companies Using Fuel Cell Forklifts in the U.S.
Table 21 : U.S. Market for Fuel Cell Forklifts, by Technology Type, Through 2027
Table 22 : U.S. Market Volume for Fuel Cell Forklifts, by Technology Type, Through 2027
Table 23 : U.S. Market for Fuel Cell Forklifts, by Application, Through 2027
Table 24 : U.S. Market Volume for Fuel Cell Forklifts, by Application, Through 2027
Table 25 : U.S. Market for Fuel Cell Forklifts, by Power, Through 2027
Table 26 : U.S. Market Volume for Fuel Cell Forklifts, by Power, Through 2027
Table 27 : Fuel Cell Forklifts Deployment History
Table 28 : European Market for Fuel Cell Forklifts, by Technology Type, Through 2027
Table 29 : European Market Volume for Fuel Cell Forklifts, by Technology Type, Through 2027
Table 30 : European Market for Fuel Cell Forklifts, by Application, Through 2027
Table 31 : European Market Volume for Fuel Cell Forklifts, by Application, Through 2027
Table 32 : European Market for Fuel Cell Forklifts, by Power, Through 2027
Table 33 : European Market Volume for Fuel Cell Forklifts, by Power, Through 2027
Table 34 : Fuel Cell Forklifts Deployment History
Table 35 : Chinese and Japanese Market for Fuel Cell Forklifts, by Technology Type, Through 2027
Table 36 : Chinese and Japanese Market Volume for Fuel Cell Forklifts, by Technology Type, Through 2027
Table 37 : Chinese and Japanese Market for Fuel Cell Forklifts, by Application, Through 2027
Table 38 : Chinese and Japanese Market Volume for Fuel Cell Forklifts, by Application, Through 2027
Table 39 : Chinese and Japanese Market for Fuel Cell Forklifts, by Power, Through 2027
Table 40 : Chinese and Japanese Market Volume for Fuel Cell Forklifts, by Power, Through 2027
Table 41 : Chinese and Japanese Market for Fuel Cell Forklifts, by Country/Region, Through 2027
Table 42 : Chinese and Japanese Market Volume for Fuel Cell Forklifts, by Country/Region, Through 2027
Table 43 : Key Developments, by Types, October 2021 to April 2022
Table 44 : Hyster-Yale Materials Handling Inc.: Segment Revenue, 2018-2021
Table 45 : Kion Group AG: Overall Revenue, 2018-2021
Table 46 : Plug Power Inc.: Revenue, 2018-2021
Table 47 : List of Other Players in the Market for Fuel Cell Forklifts, by Category
Table 48 : Abbreviations Used in This Report
List of Figures
Summary Figure : Global Market for Fuel Cell Forklifts, by Region/Country, 2021-2027
Figure 1 : Development Trend of Fuel Cell Forklift
Figure 2 : Advantages of Fuel Cell Forklift
Figure 3 : Element of Cost Comparison for Fuel Cell Forklift
Figure 4 : Greenhouse Gas Emission from Forklifts
Figure 5 : Type of Material Handling Equipment
Figure 6 : Fuel Cell Forklift Price for Less Than 10kW, by Country Without Any Subsidies, Through 2027
Figure 7 : Fuel Cell Forklift Price for More Than 10kW, by Country Without Any Subsidies, Through 2027
Figure 8 : Value Chain Analysis for Fuel Cell Forklift Market
Figure 9 : Global Market Drivers of Fuel Cell Forklifts
Figure 10 : Global Market Restraints on Fuel Cell Forklifts
Figure 11 : Key Challenges in the Global Market for Fuel Cell Forklifts
Figure 12 : Current Trends in the Global Market for Fuel Cell Forklifts
Figure 13 : Opportunities in the Global Market for Fuel Cell Forklifts
Figure 14 : Opportunities in Fuel Cell Forklifts
Figure 15 : Porter's Five Forces Model for Market for Fuel Cell Forklifts
Figure 16 : Number of Patent Families Filed in Transportation, by Application Field, 2021
Figure 17 : Global Market Shares of Fuel Cell Forklifts, by Technology Type, 2022
Figure 18 : Global Market Shares of Fuel Cell Forklifts, by Technology Type, 2027
Figure 19 : Global Market Volume Shares of Fuel Cell Forklifts, by Technology Type, 2022
Figure 20 : Global Market Volume Shares of Fuel Cell Forklifts, by Technology Type, 2027
Figure 21 : Global Market Shares of Fuel Cell Forklifts, by Application, 2022
Figure 22 : Global Market Shares of Fuel Cell Forklifts, by Application, 2027
Figure 23 : Global Market Volume Shares of Fuel Cell Forklifts, by Application, 2022
Figure 24 : Global Market Volume Shares of Fuel Cell Forklifts, by Application, 2027
Figure 25 : Global Market Shares of Fuel Cell Forklifts, by Power, 2022
Figure 26 : Global Market Shares of Fuel Cell Forklifts, by Power, 2027
Figure 27 : Global Market Volume Shares of Fuel Cell Forklifts, by Power, 2022
Figure 28 : Global Market Volume Shares of Fuel Cell Forklifts, by Power, 2027
Figure 29 : Global Market Shares of Fuel Cell Forklifts, by Country/Region, 2022
Figure 30 : Global Market Shares of Fuel Cell Forklifts, by Country/Region, 2027
Figure 31 : Global Market Volume Shares of Fuel Cell Forklifts, by Country/Region, 2022
Figure 32 : Global Market Volume Shares of Fuel Cell Forklifts, by Country/Region, 2027
Figure 33 : Penetration of Hydrogen Technology in Forklifts in Canada
Figure 34 : U.S. Market Shares of Fuel Cell Forklifts, by Technology Type, 2022
Figure 35 : U.S. Market Shares of Fuel Cell Forklifts, by Technology Type, 2027
Figure 36 : U.S. Market Volume Shares of Fuel Cell Forklifts, by Technology Type, 2022
Figure 37 : U.S. Market Volume Shares of Fuel Cell Forklifts, by Technology Type, 2027
Figure 38 : U.S. Market Shares of Fuel Cell Forklifts, by Application, 2022
Figure 39 : U.S. Market Shares of Fuel Cell Forklifts, by Application, 2027
Figure 40 : U.S. Market Volume Shares of Fuel Cell Forklifts, by Application, 2022
Figure 41 : U.S. Market Volume Shares of Fuel Cell Forklifts, by Application, 2027
Figure 42 : U.S. Market Shares of Fuel Cell Forklifts, by Power, 2022
Figure 43 : U.S. Market Shares of Fuel Cell Forklifts, by Power, 2027
Figure 44 : U.S. Market Volume Shares of Fuel Cell Forklifts, by Power, 2022
Figure 45 : U.S. Market Volume Shares of Fuel Cell Forklifts, by Power, 2027
Figure 46 : European Market Shares of Fuel Cell Forklifts, by Technology Type, 2022
Figure 47 : European Market Shares of Fuel Cell Forklifts, by Technology Type, 2027
Figure 48 : European Market Volume Shares of Fuel Cell Forklifts, by Technology Type, 2022
Figure 49 : European Market Volume Shares of Fuel Cell Forklifts, by Technology Type, 2027
Figure 50 : European Market Shares of Fuel Cell Forklifts, by Application, 2022
Figure 51 : European Market Shares of Fuel Cell Forklifts, by Application, 2027
Figure 52 : European Market Volume Shares of Fuel Cell Forklifts, by Application, 2022
Figure 53 : European Market Volume Shares of Fuel Cell Forklifts, by Application, 2027
Figure 54 : European Market Shares of Fuel Cell Forklifts, by Power, 2022
Figure 55 : European Market Shares of Fuel Cell Forklifts, by Power, 2027
Figure 56 : European Market Volume Shares of Fuel Cell Forklifts, by Power, 2022
Figure 57 : European Market Volume Shares of Fuel Cell Forklifts, by Power, 2027
Figure 58 : Chinese and Japanese Market Shares of Fuel Cell Forklifts, by Technology Type, 2022
Figure 59 : Chinese and Japanese Market Shares of Fuel Cell Forklifts, by Technology Type, 2027
Figure 60 : Chinese and Japanese Market Volume Shares of Fuel Cell Forklifts, by Technology Type, 2022
Figure 61 : Chinese and Japanese Market Volume Shares of Fuel Cell Forklifts, by Technology Type, 2027
Figure 62 : Chinese and Japanese Market Shares of Fuel Cell Forklifts, by Application, 2022
Figure 63 : Chinese and Japanese Market Shares of Fuel Cell Forklifts, by Application, 2027
Figure 64 : Chinese and Japanese Market Volume Shares of Fuel Cell Forklifts, by Application, 2022
Figure 65 : Chinese and Japanese Market Volume Shares of Fuel Cell Forklifts, by Application, 2027
Figure 66 : Chinese and Japanese Market Shares of Fuel Cell Forklifts, by Power, 2022
Figure 67 : Chinese and Japanese Market Shares of Fuel Cell Forklifts, by Power, 2027
Figure 68 : Chinese and Japanese Market Volume Shares of Fuel Cell Forklifts, by Power, 2022
Figure 69 : Chinese and Japanese Market Volume Shares of Fuel Cell Forklifts, by Power, 2027
Figure 70 : Chinese and Japanese Market Shares of Fuel Cell Forklifts, by Country/Region, 2022
Figure 71 : Chinese and Japanese Market Shares of Fuel Cell Forklifts, by Country/Region, 2027
Figure 72 : Chinese and Japanese Market Volume Shares of Fuel Cell Forklifts, by Country/Region, 2022
Figure 73 : Chinese and Japanese Market Volume Shares of Fuel Cell Forklifts, by Country/Region, 2027
Figure 74 : Top Players in the Eco-Structure of the Fuel Cell Forklift Industry
Figure 75 : Hyster-Yale Materials Handling Inc.: Revenue, 2018-2021
Figure 76 : Hyster-Yale Materials Handling Inc.: Sales Share, by Business Segment, 2021
Figure 77 : Hyster-Yale Materials Handling Inc.: Forklift Shipments Share, by Region, 2021
Figure 78 : Kion Group AG: Sales Share, by Business Segment, 2021
Figure 79 : Kion Group AG: Sales Share, by Region, 2021
Figure 80 : Plug Power Inc.: Segment Revenue with YOY (%), 2018-2021
Figure 81 : Plug Power Inc.: Sales Share, by Business Segment, 2021
Figure 82 : Plug Power Inc.: Sales Share, by Region, 2021
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