Fuel Cell Technology Market: Revenue Growth is Making Marketplace Explosive

Fuel cell technology relies on the chemical energy of hydrogen to generate electricity in a clean manner and effectively. Unlike primary fuels like coal and petroleum, or renewable energy sources like wind or solar power, hydrogen is an energy carrier. This means that hydrogen is required to be produced using primary sources of energy, such as natural gas, water, biomass, etc. Fuel cells are used for converting chemical energy into electrical energy. The conversion takes place via electromechanical reactions, for example battery.

However, the fuel is mainly supplied from the outside; thus making these cells feel as if the engine is converting fuel electricity without actually burning it. The adoption rate of fuel cells has increased owing to the rising need for clean energy. Furthermore, the dramatic shift and focus towards generation of renewable energy coupled by government initiatives has kept the future of the market robust.

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Growing private as well as public investments are driving the market. In addition, the high energy density of the fuel cells compared to the conventional battery has further added to the growth of the market. Moreover, need resilient energy equipment, benefits over backup power and recent developments in hydrogen storage has kept the future of the market bright. High catalyst cost and lack of proper fuel infrastructure have hindered the growth of the fuel cell market. However, advent of new technologies and growing demand of fuel cell automobiles would create greater opportunities.

The fuel cell technology market is segmented based on applications, types and geography. The applications covered in the market research report are stationary, transport and portable. Types discussed during the study are MCFC, PEMFC, SOFC, DMFC and PAFC. Regions such North America, Europe, Asia Pacific and LAMEA would observe tremendous growth.

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Key market players active in the industry are Ballard, Ceramic Fuel Cell, FuelCell Energy, Hydrogenics, Panasonic Corporation, Toshiba Corporation, Ballard Power Systems Inc. and Doosan Corporation.

The report includes an explicit breakdown of the major driving factors, market trends, major market players, and top investment pockets. It focuses on how the recent technological encroachments have influenced the growth of the market. The state-of-the-art strategies implemented by the market players are also conferred in the report. Moreover, a depiction of how these players have assimilated several strategies to withstand the intense competition in the industry has put on immense value to the report.

KEY BENEFITS FOR STAKEHOLDERS:
• The market research report provides integrated information on the major drivers, restraints and opportunities influencing the industry growth during the forecast period.
• The study further drills down to produce data volume by components, end customers and demography.
• SWOT analysis of major brands, highlights weaknesses, strengths, opportunities and threats. The data proves effective for business owners planning on designing their marketing and branding strategies.
• Region wise business performance discussed in the market research report would be valuable for enterprises planning to explore new areas.
• The report not only examines the market dynamics but also takes a closer look at the growth rate and industrial chain structure.
• Study further weighs up on the prominent market players and their business strategies to maintain their position.
• Assessment of upstream and downstream market also forms an important part of the report.

FUEL CELL TECHNOLOGY MARKET KEY SEGMENTS
By Application
• Stationary
• Transport
• Portable

By Type
• MCFC
• PEMFC
• SOFC
• DMFC
• PAFC

By Geography
• North America
• Europe
• Asia Pacific
• LAMEA

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