20th March 2019 – Global Hydrogen and Fuel Cells Market is expected to exhibit a significant market growth during the forecast period. Fuel cell systems function on hydrogen with zero pollution. The by-products are heat and pure water. At present internal combustion engine systems exhibit thin mixtures of hydrogen and air that might result in extremely low pollution levels occurring due to burning of lubricating oil. Fuel cells systems are driven at a higher thermodynamic efficiency over heat engines. Heat engines such as engines and turbines transform chemical energy into heat through combustion and use heat energy for motion.
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In case of fuel cells, there is no combustion and their efficiency does not pertain to max operating temperature. Consequently, the efficacy of the power conversion step is significantly higher. Hydrogen and fuel cell market is driven by rise in demand for renewable fuel sources and environmental concerns owing to pollution. Demand for power enabled sources and consumer awareness are adding to the growth factors. In addition, growing applications of hydrogen and fuel cells are more likely to supplement the market growth during the forecast period. Decline in fuel prices and rise in infrastructural developments across the world supplements the market growth in the forecast period. Segmented by type, the market comprises air-cooled type and water-cooled type. By application, the market involves transport, stationary and portable.
Leading players of Hydrogen and Fuel Cells including:
- Fuji Electric
- POSCO ENERGY
- Bloom Energy
- JX Nippon
- FuelCell Energy
- Ballard Power
- Plug Power
- Doosan PureCell America
Market split by Type, can be divided into:
- 1-4 KW
- 4 KW
Market split by Application, can be divided into:
- Telecommunications Network
- Secure Communications
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Geographical segment for hydrogen and fuel cells market comprises North America, South America, Europe, Asia-Pacific, Middle East and Africa. European market is highly predicted to witness a robust market growth during the forecast period due to demand for fuel applications. North America market is likely to witness a remarkable growth during the forecast period thanks to infrastructural development and inclination towards renewable source of energy.
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