Global Fuel
Cell Technology Market is foretold to provide a
robust support for industry players to lay a solid foundation for their
business growth. It includes a comprehensive evaluation of the industry growth
status and risk. In addition, it provides detail market variables, trends, key
opportunities, new entrants & competitors.
Fuel Cell Technology Market
study offers detail overview of industry with all the requisite data to support
tactical business decisions and come up with strategic growth plans. This study
also proposes a comprehensive insight into the development policies and plans
in addition to manufacturing processes and cost structures.
Download Free Sample
Report Now @ https://www.millioninsights.com/industry-reports/fuel-cell-technology-market/request-sample
Fuel cell helps to generate
electrical energy from chemical energy through electrochemical process, the
chemical is not burned therefore it is a source of clean fuel. The fuel cell
technology industry is expected to witness significant growth on account of
rising need for alternative energy sources and zero emission energy. Increase
in demand of clean energy and large investments related to hydrogen storage
infrastructure development are fuelling the growth of this industry. To promote
use of clean and green energy government has invested heavily on exploration of
this technology and has made strict government regulation to protect the environment
which has propelled the demand.
Conventional battery cannot
store more energy and need continuous replacement. The energy density of
non-conventional cell is more than the conventional battery; this makes it a
better environment friendly option. Growing need to derive energy from
renewable source to save the conventional resources and increasing concern for
environment protection is expected to propel the demand for the forecast
period. Platinum and Ruthenium Alloy are catalyst used to convert the chemical
energy to electrical energy through electrochemical reaction. These catalysts
are costly which increases the installation cost making the installation costly
and to store more energy more cells are required which is a challenge for this
industry.
This technology for vehicle
is gaining importance globally due to its uniqueness and environment-friendly
nature. The technology has the ability to generate all vehicle types such as
heavy duty, power forklifts, passenger, and airport tugs. Decrease in oil consumption
by the vehicles is need of the hour and this technology is the solution which
makes it a golden market to explore. Major automobile companies are launching
new cars which work on this technology such Toyota has launched Mira, Honda has
launched Clarity, Mercedes is doing research on cars powered by these
non-conventional batteries. Advancement in hydrogen storage know-how is another
opportunity that is yet to be explored; it is expected to increase the
stationary power, portable power, and transportation of power.
The global fuel cell
technology industry is segmented on the basis of applications such as
transportation, portable, and stationary applications. Furthermore, it is
segmented on the basis of technology such as Direct Methanol, Polymer/Proton
Exchange Membrane (PEM), Molten Carbonate, Phosphoric Acid, and Solid Oxide.
The technology is growing rapidly with multiple benefits such as it has
portable applications such as non-conventional battery can be used for devices
such as laptop, mobiles and camera as a rechargeable battery. Portable fuel
cells are expected to augment or replace battery technology and use either
DMFC, or PEM.
Proton Exchange Membrane
Fuel Cell (PEMFC) these are extensively used across the globe, its power to
area ratio (absorbs more power per unit area) is higher which makes it ideal to
produce more energy when compared to others. North America and Europe are the
key contributor in this market owing to awareness to protect the environment
and encouragement from government to use and harness clean energy. Asia-Pacific
is expected to have significant growth for the forecast period owing to the
largest value generating region for these cells, with Japan and South Korea
being the major countries driving the market. In Middle East and African
region, the market is growing at a slower rate due to lesser awareness,
although Middle East and African regions comprise the future markets for this
technology, these markets are considered as major emerging markets.
Key players in this
industry are Aisin Seiki Co. Ltd., AFC Energy, Bloom Energy, Ballard Power
Systems Inc., Ceres Power Holdings PLC, Ceramic Fuel Cells Limited, Fuelcell
Energy, Doosan Corporation, Kyocera, Hydrogenics Corporation, and Plug Power
Inc. In January 2016, Fuelcell Energy a leader in manufacturing, designing,
operation, and service of clean energy has announced to install a plant of
5.6-megawatt power generation plant for Pfizer Inc. world’s largest
biopharmaceutical company to provide reliable and low carbon electricity. This
power plant will be built by using this knowledge to produce clean and green
energy.
In January 2016, Bloom
Energy announced the first ever high rise project for producing clean and green
energy at Morgan Stanley global head quarter. This project will operate using
this technology and expected to produce 750 KW. In October 2015, Doosan
Corporation Fuel Cell has inked deal to manufacture 70 Power Plants for South
Korean utility. This will provide clean power for 71000 South Korean homes. In
August 2015, Ballard Power Systems provides clean energy products at low cost
and helps customers in solving challenges related to fuel cell, acquired
Protonex Technology Corporation a leading designer and manufacturer of advanced
power management products. This acquisition will help in increasing the product
offering by adding power management product and portable devices using these
cells.
Know
More Insights @ https://newsonmarketblog.wordpress.com
No comments:
Post a Comment