Fuel Cell Market: hydrogen vehicles rise in use driving the demand for fuel cells through 2021.
Fuel cells are cells that can generate from the electrochemical reaction of chemicals that is in the cell. There is high use of fuel cells for various purposes such as for powering electronics, engines, machines, equipment etc. and also for storing electricity. Owing to the wide range of applications of the fuel cells there is high scope for the Fuel Cell Market in many regions across the globe during 2016-2021.
Scope and Regional Forecast of the Fuel Cell Market:
According to the IndustryARC research analysis studies on the Fuel Cell Market, North America is one of the prominent market regions for high sales of Fuel Cell Market. There is high utilization of fuel cell hydrogen technology in industrial and automotive industry in this region through 2021.
Europe is expected to have high demand for the Fuel Cell Market during 2016-2021. Germany, France, Spain, UK and Italy are highly commercial and industrial regions and are expected to have high demand for fuel cells which use hydrogen as a fuel.
Asia Pacific is the largest region for the sales of the Fuel Cell Market. In this region, South Korea, Japan, China and India are the major consumers of fuel cell hydrogen for fuel cell ehicles and other applications during 2016-2021.
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Segmentation and Key Players of the Fuel Cell Market:
The Fuel Cell Market is segmented into various categories in the IndustryARC marketing research report by type, by usage and by geography as follows:
By type: Metal hydride fuel cell, Direct formic acid fuel cell (DFAFC), Up flow microbial fuel cell (UMFC), Electro-galvanic fuel cell, Zinc-air battery, Microbial fuel cell, Regenerative fuel cell, Direct borohydride fuel cell, Alkaline fuel cell, Direct methanol fuel cell, Reformed methanol fuel cell, Direct-ethanol fuel cell, Proton exchange membrane fuel cell, RFC – Redox, Phosphoric acid fuel cell, Solid acid fuel cell, Molten carbonate fuel cell, Tubular solid oxide fuel cell (TSOFC), Protonic ceramic fuel cell, Direct carbon fuel cell, Planar Solid oxide fuel cell, Enzymatic Biofuel Cells and Magnesium-Air Fuel Cell
By usage: Primary and backup power for commercial, Industrial and residential buildings, Electronics, Automobiles, Power Fuel-Cell vehicles, Lifts, Boats, Submarines, Hybrid Vehicles, Small Heating Appliances, Food Preservation and Fueling Stations
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Fuel Cell Market according to the IndustryARC research report are as follows:
- Ballard Power Systems
- AFC Energy
- Clear Edge Power
- Fuelcell Energy
- BIC Consumer Products
The Fuel Cell Market is a rapidly growing market with increase in use of hydrogen fuel cell technology for hydrogen engine in industries and hydrogen vehicles in various regions across the globe. This market is expected to witness high growth with rise in hydrogen production by companies for hydrogen fuel cell companies for developing hydrogen power batteries for hydrogen cars and other industrial applications across the globe during 2016-2021.
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