Fuel Cell Technology Market growing at exponential compound annual growth rate by forecast period of 2018 to 2023. Fuel Cell Technology Market is majorly driven by factors such as 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.
Fuel Cell Technology Key Companies Market Analyzed For This Research Report Are:
AFC Energy (U.K.), Heliocentris (Germany), Topsoe (Denmark) and Genport SRL (Italy) are some of the European companies manufacturing fuel cells for various applications.
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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. 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.
Fuel cell technology has various applications such as transportation, stationary, and portable. In transportation Proton exchange membrane fuel cells and alkaline fuel cells are used for application such as buses, cars, and APUs. In stationary, Proton exchange membrane fuel cells, molten carbonate fuel cells, Solid oxide fuel cells, and alkaline fuel cells are used for application such as backup power, residential power and DG. In Portable, Direct methanol fuel cells and alkaline fuel cells are used to provide benefits to the application such as battery chargers, sensors, portable power unit, cameras, and mobiles among others.
Europe is one of the fastest growing regions in fuel cell technology market due to creating a roadmap of reducing emission of carbon di oxide by more than 80% by 2050. To achieve the target Europe is planning to improve the infrastructure and reducing the cost of the fuel cells. It is estimated that European Fuel Cell market will grow with a CAGR of more than 70% during the forecasted period 2015-2027 due to increasing government initiatives and motivation under new renewable heat incentive policy which offers incentives for the installation of more than 2KW microchip.
Germany is the leading country in Fuel cell technology market. Universities, research institutes, R&D are taking initiatives in fuel cell market to study and to do business. German Fuel cell technology market is expected to grow with a CAGR of more than 70% during the forecasted period 2015-2027. Germany accounts for more than 70% fuel cell installations in Europe due to huge government support. Some major market players include Siemens, Opel, and Daimler Chrysler, among others.
United Kingdom (UK) is the emerging and active country in fuel cell technology market. UK Fuel cell technology market is expected to grow with a CAGR of more than 25% during the forecasted period 2015-2027. At present, UK exports more than 50% of the fuel cell products to other countries. The Government of UK has initiated Renewable Heat Incentives which includes provisions for CHP units and aerobic digestion to produce biogas for heat production.
The Fuel Cell Technology market is witnessing intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations, as key factors that confront market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality driver state monitoring systems, to survive and succeed in an intensely competitive market environment.
The report for Global Fuel Cell Technology Market of Market Research Future 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. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Global Fuel cell technology market by Fuel types:
Natural gas/ Methane
Anaerobic Digester gas
Global Fuel cell technology market by Fuel types:
- Natural gas/ Methane
- Anaerobic Digester gas
Global Fuel cell technology market by Method:
- Polymer/ Proton exchange membrane fuel cells (PEM)
- 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)
- Zinc air fuel cells (ZAFC)
- Protonic ceramic fuel cells (PCFC)
- Microbial fuel cells (MFC)
Global Fuel cell technology market by Applications:
- Portable electronics
Browse more details on this “Fuel Cell Technology Market Report 2018” report at: https://www.marketresearchfuture.com/reports/fuel-cell-technology-market-798
Major Table of Content:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
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