Marine Fuel Cell Markets: An Ocean of Opportunity

The maritime sector accounts for approximately 2.9% of global carbon emissions, and it is the largest vessels, such as sea-going cargo vessels, which tend to make the greatest contributions. While it is prosaic to say no single ‘silver bullet’ exists for marine decarbonization, multiple solutions are emerging and IDTechEx sees fuel cells, powered by green hydrogen and ammonia, as one of the most promising solutions.

Hydrogen PEMFCs (proton exchange membrane fuel cells) are the most technologically mature and the focus of suppliers, while SOFCs (solid-oxide fuel cells) are nascent but solve many of PEMFC’s pain points with fuel-flexibility and efficiencies of >80%. The IDTechEx report “Fuel Cell Boats & Ships 2023-2033: PEMFC, SOFC, Hydrogen, Ammonia, LNG” predicts marine fuel cell markets will grow rapidly at 35% CAGR over a ten-year period.

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