Fuel Cell Technology Market Analysis 2018 To 2024 report expands Global Fuel Cell Technology Market Size, Share, upcoming Trends, Growth and Key Players outlook by Fuel types (Hydrogen, Methanol, Methane), by Method (AFC, MFC, MCFC, DCFC), by Application (Stationary, Transportation), by Country (Germany, UK) to 2024.
Fuel Cell Technology Market Companies Analyzed in report are:
AFC Energy PLC; Ceres power Holdings PLC, Genport SRL, SFC energy AG, TOPSOE Fuel cell, and Ned stack fuel cell Technology.
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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.
Companies such as AFC Energy (U.K.), Heliocentris (Germany), Topsoe (Denmark) and Genport SRL (Italy) are some of the European companies manufacturing fuel cells for various applications.
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.
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.
Global Fuel cell technology market can be segmented into fuel types, method, applications and by country.
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):
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.
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Target Audience of Report: This report mainly focuses on Fuel Cell Technology Market Distributer & Supplier companies, and end Users. Investment bankers and consultants with end user for Fuel Cell Technology Market also analyzed. And finally Government and Independent Regulatory Authorities involved with Global Fuel Cell Technology Market studied.
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