Press release
Phosphoric Acid Fuel Cell Market to Grow as Advancements in Sustainable Energy Production Technologies Gather Momentum
Industry Developments:• February 2020: The Defense Research and Development Organization (DRDO) of India, in collaboration with Larsen & Toubro, successfully showcased the effectivity of its Air Independent Propulsion (AIP) to the Indian Navy. The next R&D stage involves engineering of the Marinised Engineered AIP Energy Module (MAREEM) which will have phosphoric acid fuel cells as one of the central components.
• July 2019: Germany-based 2G Energy AG, a leader in combined heat and power (CHP) systems, received an order for a hydrogen-powered CHP system from Siemens. The system will be deployed by Siemens at its project site in Dubai to generate hydrogen using electrolysis powered by solar.
The global phosphoric acid fuel cell market size is projected to reach USD 1.12 billion by 2026, surging at a CAGR of 19.0% during the forecast period. Rising demand for clean energy worldwide is set to propel the growth of this market in the foreseeable future. According to the Current Policies Scenario of the International Energy Agency (IEA), global energy demand will increase unhindered at 1.3% annually till 2040. Nearly 50% of this energy demand is expected to be met by renewables, the IEA further states. Meeting this climbing demand for energy will require research into and development of sustainable solutions and phosphoric acid fuel cells (PAFCs) are foreseen to play a vital role in this regard. In particular, PAFC technology can be a game-changer in power generation as these cells are over 85% efficient when used for co-generation of electricity. Moreover, electricity is slated to emerge as the primary energy carrier by 2050 in terms of energy demand, as per the estimations of the International Renewable Energy Agency (IRENA). As a result, the demand for PAFCs is poised to spike in the power sector, making it one of the top phosphoric acid fuel cell market trends.
Request a Sample Copy of Phosphoric Acid Fuel Cell Market Research Report:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/102180
Companies Profiled in the Market Report:
• Ingsman Energy and Fuel Cell Research Organization (IEFRO)
• Doosan Fuel Cell America, Inc.
• Defence Research and Development Organisation (DRDO)
• Fuji Electric Co., LTD.
Impact of COVID-19 on Phosphoric Acid Fuel Cell Market
The coronavirus contagion has led to an unprecedented global economic downturn. Businesses have been severely impacted and industrial operations have been disrupted. However, mankind is strong enough to overcome these challenges as well. We, at Fortune Business Insights™, aim to equip businesses with a comprehensive impact analysis of the current pandemic on different markets, based on our expertise and experience in market intelligence.
Read About The Impact Of covid-19 : https://www.fortunebusinessinsights.com/enquiry/customization/phosphoric-acid-fuel-cell-market-102180
Market Restraint
Economic Unviability of PAFCs May Put Constraints on Market Growth
Phosphoric acid fuel cells bring a variety of advantages to the electricity generation domain. For example, they are capable of functioning on available fuels, which makes them commercially popular. Moreover, they are extensively utilized as back-up power generators and many countries are swiftly replacing diesel power generators with PAFCs. However, despite their multiple benefits, PAFCs suffer from some inherent disadvantages, which can negatively impact the phosphoric acid fuel cell market growth. One of their most prominent drawbacks is their continued reliance on hydrocarbons. While this issue has been resolved through the usage of dispersed platinum catalysts, it has made PAFCs economically unattractive as use of platinum has shot up their costs. Furthermore, these cells are not as efficient when generating electricity entirely on their own as they are when used in conjunction with fossil fuels. These disincentives may stymie the growth trajectory of this market in the upcoming years.
Purchase Full Report at - https://www.fortunebusinessinsights.com/checkout-page/102180
Contact
"Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245"
About
"Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges."
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Phosphoric Acid Fuel Cell Market to Grow as Advancements in Sustainable Energy Production Technologies Gather Momentum here
News-ID: 2589362 • Views: …
More Releases from Fortune Business Insights™
World Environment Day 2023: How Saving Water Can Help Us Save The Environment
Wastewater comes from homes, businesses, industrial sites and farms, as well as any stormwater or groundwater that enters the sewer system.
Specialised treatment plants process this wastewater. A combination of technologies is used to achieve the treatment objectives, based on the character of raw wastewater and use of the treated wastewater. These processes include primary, secondary and tertiary treatment. Our research, published today, found wastewater treatment removes a lot of particles,…
Cosmetics Market Research Analysis by Top Key Players, Types, New Trends and For …
The global cosmetics industry was valued at USD 277.67 billion in 2020 and is projected to grow from USD 287.94 billion in 2021 to USD 415.29 billion in 2028, exhibiting a CAGR of 5% during the 2021-2028 period.
In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance. The industry offers a wide variety of products, such as hair care, face care,…
Aquafeed Market Trends, Growth, Share, Size and Forecast Research Report 2028
The global aquafeed market size is anticipated to reach USD 85.17 billion by 2028 and exhibit a CAGR of 5.59% during the forecast period. The increasing popularity of aquafeed and the rising investments in the research and developments activities are projected to foster growth for the market. The market's growth is also ascribable to the increasing seafood trade due to the soaring seafood consumption and consumer expenditure on fish and…
Cricket Equipment Market Demand, Recent Trends, Size and Share Estimation by 202 …
The global cricket equipment market size was valued at USD 564.43 million in 2021 and USD 594.46 million in 2022. The market is expected to reach USD 897.02 million by 2029 with a CAGR of 6.05% during the forecast period. Growing demand for cricket bats and equipment from various institutions schools, colleges, cricket clubs, and fitness centers is anticipated to drive market growth. Increasing demand for customized sports products and cricket accessories…
More Releases for PAFC
Phosphoric Acid Fuel Cell (Pafc) Market Overview Analysis, Trends, Share, Size, …
phosphoric acid fuel cell market was valued at USD 1.8 Billion in 2021, and it is expected to reach a value of USD 6.2 Billion by 2028, at a CAGR of 19.75% over the forecast period (2022 - 2028).Phosphoric Acid Fuel Cell Market research report considers the major market prospects and the driving forces that help companies acquire a competitive edge. The research provides the data and information for practical,…
Increasing Opportunities In Phosphoric Acid Fuel Cell (Pafc) Market: Find Out Es …
Phosphoric Acid Fuel Cell (Pafc) Market Trends Overview 2022-2027:
The Phosphoric Acid Fuel Cell (Pafc) Market report provides information about the Global industry, including valuable facts and figures. This research study explores the Global Market in detail such as industry chain structures, raw material suppliers, with manufacturing The Phosphoric Acid Fuel Cell (Pafc) Sales market examines the primary segments of the scale of the market. This intelligent study provides historical data…
Global Phosphoric Acid Fuel Cell (PAFC) Market Report, History and Forecast 2017 …
Los Angeles, United States: The global Phosphoric Acid Fuel Cell (PAFC) market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Phosphoric Acid Fuel Cell (PAFC) market. For instance, the market dynamics section digs deep into…
Poly Aluminium Ferric Chloride (PAFC) Market Bolstered by Emerging New Advanceme …
LOS ANGELES, United States: The report is an all-inclusive research study of the global Poly Aluminium Ferric Chloride (PAFC) market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. The market analysts and researchers have done extensive analysis of the global Poly Aluminium Ferric Chloride (PAFC) market with the help of research methodologies such as PESTLE and Porter’s Five Forces analysis. They have provided accurate and…
Phosphoric Acid Fuel Cell (PAFC) Market Anticipated Forecast In Key Regions (APA …
Phosphoric Acid Fuel Cell (PAFC) Market report profiles major players operating (Johnson Controls, Dupont Fuel Cell, Hitachi Ltd, Johnson Controls, Delphi, Cmr Fuel Cells Plc, Panasonic Corp, Samsung Sdi Co Ltd, SFC Power, Bloom Energy, Ballard Power, GS Yuasa, Doosan, Polyfuel Inc, Sharp Corp, Toshiba Corp, Ultracell Corp, Fujikura Ltd) in terms of various attributes such as Company Overview, Financial Overview, Product Portfolio, Business Strategies and Recent Developments. The report…
Global Phosphoric Acid Fuel Cell (PAFC) Market Insights, Forecast to 2025| Johns …
Researchmoz added Most up-to-date research on "Global Phosphoric Acid Fuel Cell (PAFC) Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Phosphoric Acid Fuel Cell (PAFC) market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
