Global Fuel Cell Market 2018-2022
About Fuel Cells
Fuel cells are like battery units that are used to generate electricity from electrochemical reactions. These cells are used to power small devices and to produce megawatts (MW) of electrical energy in large power plants.
Technavio’s analysts forecast the Global Fuel Cell Market to grow at a CAGR of close to 22% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Fuel Cell Market 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of proton exchange membrane fuel cell (PEMFC), solid oxide fuel cell (SOFC), molten carbonate fuel cell (MCFC), and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fuel Cell Market 2018-2022
Technavio recognizes the following companies as the key players in the Global Fuel Cell Market: AISIN SEIKI, Ballard Power Systems, Bloom Energy, FuelCell Energy, NUVERA FUEL CELLS, SFC Energy.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the diversifying applications of fuel cells.”
According to the report, one driver influencing this market is the decarbonization of transportation industry.
Further, the report states that one challenge affecting this market is the high cost of fuel cell.
Ballard Power Systems
NUVERA FUEL CELLS
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