Fuel Cell Market: Future Expectations and Forecasts.

 

Fuel Cell Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $8,643 Million by 2022, registering a CAGR of 17.36% during the period 2016 - 2022. In 2015, the proton exchange membrane fuel cells occupied two-fifths of the total share by volume.

Download sample @ https://www.alliedmarketresearch.com/request-sample/137

Strict governmental regulations, increase in distributed power systems, and high efficiency of fuel cells are the major driving forces that will escalate the demand for fuel cells with applications in automation and power generation set ups. Unlike conventional power generation sources, fuel cells do not emit hazardous gases and pollution that is harmful to the environment. Also, depletion of natural resources, carbon emissions, and rising cost of fossil fuels is paving the way for alternate means of transportation and power generation.

Therefore, both public and private sectors have taken continuous efforts to reduce carbon emissions and save fuel. Strict government regulations related to CO2 & SO2 emissions is driving the fuel cell market. In addition, the Go Green revolution is also driving the growth of the market. Stringent government regulations related to carbon emissions are expected to propel the growth of the fuel cell market during the forecast period. Furthermore, stationary fuel cells can be used as a means of distributed power generation, which offers various advantages. Power is generated near the consumer area and so the loss of energy in transmission is extremely small in comparison with the losses seen in large and centralized generation systems.

For enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/137

Lack of fuel cell infrastructure coupled with high cost of the catalyst that is required for catalytic reactions in fuel cells are restraining the growth of the market. However, new technological advancement in the fuel cell technology leads to the development of new types of fuel cell such as Solid oxide fuel cell (SOFC), Polymer exchange membrane fuel cell (PEMFC), Molten carbonate fuel cell (MCFC), Phosphoric acid fuel cell (PAFC) and others, which help in reducing the cost of the fuel cell.

Key Findings of Fuel Cell Market:

  • Molten carbonate fuel cells (MCFC) occupied approximately two-fifths of the total share in 2015.
  • Solid oxide fuel cell market is anticipated toexpand with a CAGR of 18.54% during 2016-2022.
  • LAMEA is projected to be the fastest growing market in proton exchange membrane fuel cells market with a CAGR of 24.74% during the forecast period.
  • Stationary fuel cells dominated the market in 2015 occupying approximately three fourths of the total share in terms of application.
  • The transport fuel cell market in Asia-Pacific is anticipated to grow with a CAGR of 30.13%
  • In 2015, Asia-Pacific dominated the fuel cell market occupying more than three fifths of the total share in terms of geography.
  • With a CAGR of 26.62% during the forecast period, India is projected to be the fastest growing market in fuel cells.

The rising automotive business and growing electronic sector in China and India is gaining traction. In addition, Japan is the largest market in Asia-Pacific for fuel cells, which is followed by China and South Korea. In addition, the demand for fuel cells is anticipated to grow in countries such as Australia, India, and Singapore, which would further support the market in different industry verticals.

The prominent market players include:

·       Ballard Power Systems Inc.,

·        Plug Power Inc.,

·        Proton Power Systems PLC,

·        ITM Power Plc,

·        AFC Energy Plc,

·        Fuel Cell Energy Inc.,

·        SFC Energy,

·        United Technologies,

·        Hydrogenics,

·         Fuji Electric India Pvt. Ltd.

For detailed COVID-19 impact on fuel cell market @ https://www.alliedmarketresearch.com/request-for-customization/137?reqfor=covid

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

Toll Free: +1-800-792-5285

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1?855?550-5975

help@alliedmarketresearch.com

Web: https://www.alliedmarketresearch.com

Comments

Post a Comment

Popular posts from this blog

High Voltage Direct Current (HVDC) Transmission Market : Trends and Opportuntites.

High voltage direct current (HVDC) power systems use direct current (DC) to transmit bulk power over long distances. HVDC lines improve transmission line efficiency, allowing power to be transferred more quickly. At the sending end of a combined AC and DC system, the generated AC voltage is converted to DC.  In AC transmission, alternating waves of voltage and current travel in the line, changing direction every millisecond, resulting in heat losses. In contrast to AC lines, the voltage and current waves in DC do not change direction. HVDC lines improve transmission line efficiency, allowing power to be transferred more quickly. For purchase enquiry @ https://www.alliedmarketresearch.com/request-toc-and-sample/12465 Above the break-even distance, HVDC has a lower transmission cost than HVAC. In comparison to HVAC, HVDC transmission lines have lower power losses. HVDC has no radiation or induction losses. HVDC has no dielectric losses, which increases the conductor's lifetime....
Read more

Gasifiers Market : Trends and Analysis.

  Gasifier is an equipment used for conversion of carbonaceous or organic material into hydrogen, carbon monoxide or carbon dioxide. Gasification is a reliable, commercial, flexible technology that converts any material containing carbon, such as petroleum coke, coal, and biomass, into fossil fuels (syngas). Gasification is mainly done at the global level of trade especially in fertilizer, chemicals, refining, and energy industries.  It does not include crude, but instead uses oxygen or less air in a closed reaction to convert more of the carbon material into synthetic gas, or syngas. Availability of deposits of coal in huge amount, demand for clean energy, lack of other feasible alternatives to gasification, increase in government participation, and growing environment-friendly power generation are expected to supplement the gasification market in the near future. Increased usage of gasifiers in fossil fuels, chemicals, forestry, agricultural, petrochemicals, waste handli...
Read more

Commercial Boiler Market growing at a CAGR of 4.2% from 2021 to 2030.

According to a new report published by Allied Market Research, titled ,"  Commercial Boiler Market by Fuel Type, Technology, Capacity, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030 ," The global commercial boiler market size was valued at $1.9 billion in 2020, and is projected to reach $2.8 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030. A commercial boiler is a durable and dependable piece of heating equipment. It has a number of advantages, including energy efficiency, cleaner operations, and compliance with environmental regulations. Product adoption is expected to increase in the next years by a shift in preference toward reliable and energy efficient systems, as well as rise in customer demand for inexpensive heating solutions. Surge in emphasis on reducing greenhouse gas (GHG) emissions, as well as the enactment and strengthening of emission limits, are some of the major drivers driving the demand for energy efficient com...
Read more