A fuel cell
is a device generates electricity from an electro chemical reaction. Initially known as Gas Voltaic Battery, Fuel cell was invented in 1839. Its function is to convert chemical energy from fuel into electricity through a chemical reaction of positively charged hydrogen ions and an oxidizing agent. A fuel cell uses external supply of chemical energy and can run for an unlimited period of time till it is supplied with a source of hydrogen and a source of oxygen. Due to this electrochemical reaction fuel cell provides high efficiency, virtually silent operation and no pollutant emissions if the hydrogen is from fuel. The electricity produced can be used for transportation, distributed power generation, residential power and portable power. This will benefit in the future under circumstances like less availability of fossil fuels. Fuel cells vary from tiny devices that produce only a few watts of electricity to large power plants producing megawatts. The global fuel cell market
can be segmented based on the usage into Primary and backup power for commercial, Industrial and residential buildings, Electronics, Automobiles, Power Fuel-Cell vehicles and others. The market is also segmented on the basis of type: Direct formic acid fuel cell (DFAFC), Up flow microbial fuel cell (UMFC), Tubular solid oxide fuel cell (TSOFC) and others.
The global market has further been represented from the perspective of different geographical locations into geographic regions and key economies in the market. Competitive landscape for each of the segments is highlighted and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The market shares for the key players in 2015 are also provided. Prominent players include:
- Versa Power Systems
- Ballard Power Systems
- Horizon Fuel Cell Technologies.
The report contains the most detailed and in-depth segmentation of the Fuel Cell market.Stakeholders:
- End-use Industries
- Research Companies and Universities
- Government Organizations
The fuel cell market is forecast to grow at a CAGR of XX% and reach $XX million by 2021. Key drivers for the fuel cell market are the growing fuel rates and scarcity of resources. Its energy generating efficiency by facilitating different devices with varying sizes has driven the market growth.