Global Fuel Cell Technology Market, by Fuel types (Hydrogen, Methanol, Methane), by Method (AFC, MFC, MCFC, DCFC), by Application (Stationary, Transportation), by Country (Germany, UK) – Global Forecast 2024
Global Fuel Cell Technology Market Report: Latest News
- AFC energy, one of the leading fuel cell power companies has announced in 2014 that it is going to sign a new co-operation agreement in Bangkok to accelerate adoption of fuel cell systems in upcoming projects in Thailand.
Global Fuel Cell Technology Market Report: Overview
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.
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Global Fuel Cell Technology Market – Segmentation
Global Fuel cell technology market can be segmented into fuel types, method, applications and by country.
1. Global Fuel cell technology market by Fuel types:
- Natural gas/ Methane
- Anaerobic Digester gas
2. 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)
3. Global Fuel cell technology market by Applications:
- Portable electronics
4. Global Fuel cell technology market by Country:
- United Kingdom
- Rest of Europe
Global Fuel Cell Technology Market – Key Player
Some of the major market players in Global Fuel Cell Technology Market include AFC Energy PLC; Ceres power Holdings PLC, Genport SRL, SFC energy AG, TOPSOE Fuel cell, and Ned stack fuel cell Technology among others.
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Global Fuel Cell Technology Market – Synopsis & Scenario
There are many types of fuel cells currently in operation in a wide range of applications, including Proton exchange membrane (PEM) and Solid oxide fuel cells (SOFC), among others.
Fuel cell technology has various applications such as transportation, stationary, and portable. These applications are the three main markets of Fuel cell technology.
The major growth drivers of Global Fuel cell technology market include 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 Market: Regional Analysis
The regional analysis will provide brief information about European market in Fuel cell technology market.
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. It is estimated that European Fuel Cell market will grow with a CAGR of more than 70% during the forecasted period 2016-2027
Germany is the leading country in Fuel cell technology market. German Fuel cell technology market is expected to grow with a CAGR of more than 70% during the forecasted period 2016-2027. Germany accounts for more than 70% fuel cell installations in Europe .
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 2016-2027.
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