Hydrogen Fuel Cell Market To Reach USD 49.12 Billion By 2026 | Reports And Data

Hydrogen Fuel Cell Market Size – USD 865.1 Million in 2018, Market Growth - CAGR of 64.6%, Hydrogen Fuel Cell Industry Trends –Surge in hydrogen refueling stations.

New York, Oct. 15, 2019 (GLOBE NEWSWIRE) -- The growing concern for the environment’s safety and rise in government initiatives are driving the market for hydrogen fuel cells.

The global hydrogen fuel cell market is forecast to reach USD 49.12 Billion by 2026, according to a new report by Reports and Data. A fuel cell is a device that helps generate electrical power through a chemical reaction. Hydrogen fuel cells convert hydrogen to generate electricity.

These types of cells require a continuous source of fuel and oxygen to run. The hydrogen fuel cell has such great appeal because their only by-products are water vapor and heat, which makes it a truly zero-emission locomotive technology. Hydrogen is still in its infancy as a fuel source, but its future is very bright. Hydrogen fuel cell technology is improving daily, and the possibility of its conceivability as an alternative to internal combustion engines are growing.

The National Aeronautics and Space Administration’s (NASA) plans to return to the moon is spurring the research in hydrogen fuel cells. These cells are light in weight and last longer which makes it more attractive. Hydrogen fuel cells are used in space shuttle as one component of the electrical power system. NASA is addressing aerospace challenges that include reduced gravity, low or no atmospheric pressure, extreme temperatures, dynamic vibration, shock loads and extended duration operations. For airless space applications, the focus is on closed-cycle regenerable Polymer Exchange Membrane Fuel Cells technology. With the appropriate investments and collaborations, NASA intends to revolutionize aerospace power generation to enable new capabilities.     

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Further key findings from the report suggest

  • Polymer Exchange Membrane Fuel Cells use precious metal, such as platinum, along with a polymer, for its catalyst. It is preferred over other technologies as it can operate at cooler temperatures, between 80 to 200 degrees Fahrenheit. It operated between 40%-60% efficiency and can also handle large and sudden shifts in power output. They are used in telecommunications, residential markets, and data centers.
  • Air-Cooled type dominated the segment of hydrogen fuel cell product type. Passing of ambient air either through additional cooling plates or cathode is the simplest method of removing waste heat from fuel cells. Examples include: the Suzuki Burgmann fuel cell scooter which utilizes a 1.6 kW air-cooled stack, and the Microcab H2EV which utilizes a 3.0 kW Horizon open cathode fuel cell in a battery hybrid arrangement.
  • Hydrogen fuel cell vehicles combine the refueling and range of conventional cars and the environmental and recreational benefits of driving on electricity. Refueling a fuel cell vehicle is compared to refueling a car or a truck. Pressurized hydrogen is available at hydrogen refueling stations, and takes less than 10 minutes to fill current models.
  • North America led the market for hydrogen fuel cells. The hydrogen fuel cells are being increasingly used owing to the rising awareness of its benefits. In the U.S., about 60 hydrogen fueling stations are operational. Approximately 40 stations are for public use, and almost all of them are in California. The state of California has taken measures to promote a consumer market for zero-emission fuel vehicles.
  • Key participants include Toshiba Corporation, Panasonic Corporation, Hyster-Yale Group, Fuelcell Energy, Intelligent Energy, SFC Energy AG, Sunrise Power, Ballard Power, Pearl Hydrogen, and Plug Power Inc., among others.

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/hydrogen-fuel-cell-market

Segments covered in the report:

For the purpose of this report, Reports and Data have segmented into the global Hydrogen Fuel Cell market on the basis of product type, fuel cell technology type, application, and region:                    

Product Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)

  • Liquid-Cooled Type
  • Air-Cooled Type

Fuel Cell Technology Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)

  • Polymer Exchange Membrane Fuel Cells
  • Phosphoric Acid Fuel Cells
  • Solid Oxide Fuel Cells
  • Direct Methanol Fuel Cells
  • Molten carbonate fuel cells

Application Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)

  • Automotive
  • Stationary
  • Material handling equipment
  • Electricity
  • Portable Power

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Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)

  • North America
    • U.S.
  • Europe
    • France
    • UK
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East and Africa

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