Phosphoric acid fuel cellscontain an anode and a cathode which is made of a finely spread platinum substance. They are quite resilient to carbon monoxidepoisoning but have a tendency to have lower efficiency in producing electricity. Though these cells function at a moderately high degree oftemperatures of around 180C, the overall efficiency can be above 80% if this process heat is bound for cogeneration.
These cells are a significantempowering technology for the energy portfolio of the world. They have the capacity to revolutionise the way nations create an authority for their countries, offering more-efficient, cleaner alternatives to the burning of gasoline and other fossil fuels.
The Global Phosphoric Acid Fuel CellsMarket was found to value at USD XX.XX million in 2016 and it is estimated that itll reach USD XX million by 2022, at a CAGR of XX%% during the forecast period, 2017 to 2022.Market Dynamics
The analysis of the market shows that the major drivers of the growth in the market are expected to be:
--> Increase in application of the cells in hybrid electric vehicle / electrical vehicle /plug-in hybrid vehicle
--> There is a need to reduce the reliance on diesel, oil, and other non-conventional energy sources
--> Rise in usage of fuel cells in industrial activities
But the slowdown in the economic conditions in the Euro-zone has disturbed the adoption of the fuel cells to a substantial extent.
The market is segmented based on Application, Types, and Region.Based on application, the market segmentation can be done as follows:
Phosphoric Acid Fuel CellsMarket, by type, is segmented into,
--> Solid Oxide Fuel Cells (SOFC)
--> Proton Exchange Membrane Fuel Cells (PEMFC)
--> Molten Carbonate Fuel Cells
--> Phosphoric Acid Fuel Cells
--> Others (Direct Methanol Fuel Cells (DMFC), Alkaline Fuel Cells (AFC), Direct Carbon Fuel Cells)
The market can also be segmented based on Geography:
--> North America
--> LAMEAGeographic Analysis
North America observedconsiderable growth and was able to achieve for most of the global market share in 2017. It is expected that the trend will continue within the forecast period due to the government regulations that encourages the adoption of fuel cells. In US, the federal government offers funding for a range of fuel cells.
It is expected that the European marketwill witness steady growth because of increase in demand for clean energy and big investments associated to hydrogen infrastructure development, majorly in U.KandGermany. Additionally, the penetration in the electric cars market by the major manufacturersis probable to further drive the demand for fuel cells in Europe.
Latin America market is predicted to observe moderate growth. The major consumer of fuel cells is Brazil, the reason for which is the large automotive industry. Furthermore, the rise in the level of population along with the tourism events are likely to intensify the demand for clean energy.
APAC region is probably going to be the fastest growing segment within the forecast period. Population explosion and Growing urbanization especially in China and India are likely to enhance the demand for construction activitiesand energy generationin the region. The growing investment in clean energy research & development in the emerging economies and demand for hybrid vehicles to regulate the high levels of pollution is expected to further increase the demand for fuel cells.
The Middle East and Africa region have observed moderate growth against the other regions. The key markets in the region are UAE and South Africa. These markets have targeted fuel cells as the solution for the anticipated energy shortfall. Globalization and the heavy invasion of emigrants in the Middle East, especially in countries such as UAE, Qatar, and Oman have augmented the demand for infrastructural development. Such developments are likely to propel the demand for clean energy, hence aiding the growth of the fuel cells market within the forecast period.Key Players
The Phosphoric Acid Fuel Cellsmarket is vastly fragmented and competitive due to the presence of well-spread international and small & medium-sized players in this market. The market rivalry is expected to build up with the increase in technological innovations, product extensions, and increase in the mergers and acquisitions.
The key players in the market are:
--> Ballard Power Systems Inc.
--> Plug Power Inc.,
--> Proton Power Systems PLC,
--> ITM Power Plc
--> AFC Energy Plc
--> Fuel Cell Energy Inc.
--> SFC Energy
--> United Technologies
--> Hydrogenics, and
--> Fuji Electric India Pvt Ltd.
The report contains comprehensive analysis on:
--> Phosphoric Acid Fuel Cells Market Segments
--> Phosphoric Acid Fuel Cells Market Drivers, Restraints and Opportunities
--> Phosphoric Acid Fuel Cells Market Size & Forecast 2016 to 2022
--> Supply & Demand Value Chain
--> Phosphoric Acid Fuel Cells Market Current Trends
--> Competition & Major Companies
and R&D Status
--> Porters Five Force Analysis
--> Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Phosphoric Acid Fuel Cells Market includes
--> North America
>> US and Canada
--> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
--> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
--> Eastern Europe
>> Rest of Eastern Europe
--> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
--> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.Report Highlights:
--> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
--> Consumer and Pricing Analysis
--> Market dynamics of the industry
--> In-depth Market Segmentation
--> Historical and Projected Market Sizing in terms of volume and value
--> Recent market trends and Impact Factors
--> R&D Status and Technology
--> Extensive Industry Structure Coverage
Publisher Name : Market Litmus