BANGALORE, India, Oct. 30, 2019 /PRNewswire/ --
Global Fuel Cell Market Overview
The Fuel cell market is expected to increase due to features like enhanced efficiency, eco-friendliness, and longer life span compared to others. The fast increase in HRS is anticipated to drive fuel cell vehicle demand, which is likely to affect the market.
The Global Fuel Cell Market is expected to grow with a CAGR of 17.4% between 2018 and 2025.
Increasing interest in heavy-duty transport apps and enormous market potential for heavy-duty transport fuel cells in Asia-Pacific are anticipated to generate essential possibilities for the fuel cell industry in the years to come.
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The growing demand for fuel cell electric vehicles, hybrid vehicles and the organic growth of refueling station infrastructure have further driven the market. Due to its zero-emission capability, the creation of fuel cell with renewable resources made it environmentally friendly.
Therefore, businesses have embraced this environmentally friendly technology to a large extent to comply with the environmental standards and standards of the government, ultimately increasing their demand.
Factors Driving The Market
- Growing demand for portable devices,
- Stringent government regulations aimed at reducing the increasing pollution levels
- Enhanced efficiency of fuel cells
The Global Fuels Cell Market is classified into three sections based on type, application and region.
Segments In Global Fuel Cell Market Based On Type
Proton exchange membrane fuel cells (PEMFCs) are a type of fuel cells that operate at low temperatures, typically below 90 ° C and are generally supplied in the cathode electrode with anode-side hydrogen and oxygen (air).
A strong oxide fuel cell (or SOFC) is an electrochemical transformation tool that directly generates electricity from the oxidation of a gas. The SOFC has a solid oxide or ceramic electrolyte.
Molten-carbonate fuel cells are fuel cells with high temperatures that operate at and above 600°c. Molten carbonate fuel cells are presently being created for electrical utility, industrial and military applications for natural gas, biogas, and coal-based power plants.
Direct-methanol fuel cells or DMFCs are a fuel cell subcategory in which methanol is used as the fuel. Their primary benefit is that methanol, an energy-dense yet fairly stable liquid under all environmental circumstances, is easy to transport.
Region Wise Market Analysis
- With most of the demand coming from nations like China, Japan, and South Korea, Asia-Pacific dominated the market worldwide.
- The JIVE (Joint Hydrogen Vehicle Initiative), which aims to deploy 139 new zero-emission fuel cell buses and refuel infrastructure across five nations by 2020, is driving the market in Europe.
- The fuel cell industry in North America is increasing at a substantial rate fueled by increasing federal government investment and financing grants. The proactive participation of multiple universities, governmental organizations and firms in fuel cell technology research and development generates a favorable atmosphere, paving its development.
Segments In Global Fuel Cell Market Based On Production Region
- United States
- Other Regions
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Segments In Global Fuel Cell Market Based On Application
Below is a list of companies that have been studied in detail in this report.
- Ballard Power System
- Ceramic Fuel Cells Limited
- FuelCell Energy
- Hydrogenics Corporation
- AFC Energy PLC
- Bloom Energy
- Ceres Power Holdings PLC
- Doosan Corporation
- Plug Power
- POSCO ENERGY
- Horizon Fuel Cell Technologies
- Quantum Fuel Systems Technologies Worldwide
- Panasonic Corporation
- Toshiba Fuel Cell Power Systems
What The Report Has To Offer
This study presents the global size of the Fuel Cell industry (value, manufacturing and usage), divides the breakdown by producers, area, type and implementation (information status 2014-2019 and forecast to 2025). This research also analyzes market status, market share, growth rate, future trends, market drivers, possibilities and difficulties, risk and entry obstacles, marketing channels, retailers and the analysis of Porter's Five Forces.
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Reports Covering Specific Subsets Of Fuel Cell Market
Global Automotive Fuel Cell Market : https://reports.valuates.com/market-reports/QYRE-Auto-14W342/global-automotive-fuel-cell-market
Global Electric Vehicles Fuel Cell Market :
Global Electric Vehicles Fuel Cell market size will reach 90000 million US$ by 2025, from 820 million US$ in 2018, at a CAGR of 79.8% during the forecast period.
Alkaline Fuel Cell(AFC) Market : https://reports.valuates.com/market-reports/PROF-Auto-32Q857/global-alkaline-fuel-cell
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