Global Fuel Cell Technology Market, by Fuel types (Hydrogen, Methanol, Methane), by Method (AFC, MFC, MCFC, DCFC), by Application (Stationary, Transportation), by Country (Germany, UK) – Global Forecast 2024
Global Fuel Cell Technology Market Report: Overview
Fuel cell is a kind of alternative energy where it has been commercialized into micro cogeneration & heat production, and backup power for telecom towers. It is showing strong growth in future as it offers more applicability and reliability than other alternatives such as wind and sun.
A fuel cell is a kind of battery which generates electricity from an electrochemical reaction. It uses an external supply which works continuously as long as it is supplied hydrogen and oxygen. In the process of oxidation, hydrogen by making chemical reaction with oxygen and release water which is used in the process where electrons is released and hence produce electric current. There are various types of fuel cells such as Proton exchange membrane (PEM), Solid oxide fuel cells (SOFC), among others.
Global Fuel Cell Technology Market Report: Market Growth Influencer
The major growth drivers of Global Fuel cell technology market includes growing public private relationships, rising prices of crude oil and increasing demand for fuel cells from applications such as power suppliers, automobile, residential builders and electronic companies.
However, Policies of European government which would bring high opportunities in fuel cell technology market in the region are pending to approve and thus hindering the growth of the Fuel cell technology market.
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Industry Top Key Players:-
- Oorja Fuel Cells
- AFC Energy PLC
- Air Products and Chemicals, Inc.
- Ballard Power Systems Inc.
- Nuvera Fuel Cells
- Automotive Fuel Cell Cooperation
- Cellkraft AB
- EnergyOR Technologies Inc.
- H2 Logic A/S
- Intelligent Energy
Global Fuel Cell Technology Market – Segmentation
The Fuel Cell Technology Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by fuel type– Hydrogen, Natural Gas/Methane, Methanol
Segmentation by technology– Polymer/ Proton exchange membrane fuel cells (PEMFC), Solid oxide fuel cells (SOFC), Molten carbonate fuel cells (MCFC), Phosphoric acid fuel cells (PAFC), Direct methanol fuel cells (DMFC), Alkaline fuel cells (AFC), Direct carbon fuel cells (DCFC) and Others
Segmentation by application – Stationary, Transportation, Portable electronics
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
The report on Fuel Cell Technology comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.
This report will provide the clear picture of current market scenario of Fuel Cell Technology globally as well as the country level markets. The report also provides the information about various types and methods which used to manufacture various fuel cells and it’s also deliver details information about its various applications. It will also depict detailed information about companies with their market dynamics involved in Fuel cell technologies market.
Industry/ Innovation/ Related News:
September 2017 – Ballard Power Systems has accepted a Letter of Intent to provide FCveloCity-HD 100-kilowatt fuel cell engines with the objective to power 8 ExquiCity tram-buses which are being built by Van Hool NV. The fuel cells would be used by these clean energy hybrid tram-buses for providing primary power. In case of need of the additional power, lithium batteries would be used and the only emission is water vapour. These hybrid fuel cell tram-buses offer a wide variety of benefits such as high levels of passenger comfort and safety, the highest level of operational flexibility and productivity and lower cost than a traditional tram.
August 2017 – Nuvera Fuel Cells deployed a zero-emissions fuel cell bus and hydrogen refueling station in Boston. The National Fuel Cell Bus Program will help to bring the fuel cell and hydrogen technology into everyday use and expand clean transportation. The Fuel cells increase fuel economy, reduce the use of petroleum, and advances the U.S. energy independence, since hydrogen is produced domestically.
November 2015 – Hydrogenics signed separate supply agreements with several Chinese electric vehicle integrators to bring its fuel cell and fueling station technology to China. This was primarily done with the objective of solving the prevalent air quality issues in the region.
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Fuel Cell Technology Market – Regional Analysis
The global fuel cell technology market is expected to be dominated by Asia Pacific region. The growth of this market is expected to be driven by the increase in investments for the fuel cell installations, especially by countries such as China and Japan among others. The increasing awareness towards the reduction of energy consumption is also driving the growth of the market.
The Europe region is also expected to grow with rapid pace in the fuel cell technology market. The European Union has also allocated funds from the TEN-T transport infrastructure programme for funding the Hydrogen Infrastructure Project (HIT). The major objective of implementing this project is to form an interconnected hydrogen network between the Netherlands, Denmark, Sweden, and France.