Fuel Cell Market Report forecasts that the global market is expected to garner $8,643 Million by 2022, registering a CAGR of 17.36% during the period 2016 - 2022. In 2015, the proton exchange membrane fuel cells occupied two-fifths of the total share by volume.
Strict governmental regulations, increase in distributed power systems, and high efficiency of fuel cells are the major driving forces that will escalate the demand for fuel cells with applications in automation and power generation set-ups. Unlike conventional power generation sources, fuel cells do not emit hazardous gases and pollution that is harmful to the environment. Also, depletion of natural resources, carbon emissions, and rising cost of fossil fuels is paving the way for alternate means of transportation and power generation. Therefore, both public and private sectors have taken continuous efforts to reduce carbon emissions and save fuel. Strict government regulations related to CO2 & SO2 emissions is driving the fuel cell market. In addition, the Go Green revolution is also driving the growth of the market.
Stringent government regulations related to carbon emissions are expected to propel the growth of the fuel cell market during the forecast period. Furthermore, stationary fuel cells can be used as a means of distributed power generation, which offers various advantages. Power is generated near the consumer area and so the loss of energy in transmission is extremely small in comparison with the losses seen in large and centralized generation systems.
- AFC Energy Plc
- Ballard Pwer Systems Inc.
- Fuel Cell Energy Inc.
- Fuji Electric India Pvt. Ltd.
- ITM Pwer Plc
- Plug Pwer Inc.
- Prtn Pwer Systems PLC
- SFC Energy
- United Technlgies
Key Topics Covered:
Chapter: 1 Introduction
Chapter: 2 Executive Summary
Chapter: 3 Market Overview ll
Chapter: 4 Global Fuel Cell Market, By Type
Chapter: 5 Global Fuel Cell Market By Application
Chapter: 6 Global Fuel Cell Market By Geography
Chapter: 7 Company Profile
For more information about this report visit http://www.researchandmarkets.com/research/8zpxpn/fuel_cell_market.