Global Fuel Cell Market Research Report 2021(Status and Outlook)
A fuel cell is an electrochemical cell that converts the chemical energy of a fuel (often hydrogen) and an oxidizing agent (often oxygen) into electricity through a pair of redox reactions. Fuel cells are different from most batteries in requiring a continuous source of fuel and oxygen (usually from air) to sustain the chemical reaction, whereas in a battery the chemical energy usually comes from metals and their ions or oxides that are commonly already present in the battery, except in flow batteries. Fuel cells can produce electricity continuously for as long as fuel and oxygen are supplied.
The first fuel cells were invented by Sir William Grove in 1838. The first commercial use of fuel cells came more than a century later following the invention of the hydrogen–oxygen fuel cell by Francis Thomas Bacon in 1932. The alkaline fuel cell, also known as the Bacon fuel cell after its inventor, has been used in NASA space programs since the mid-1960s to generate power for satellites and space capsules. Since then, fuel cells have been used in many other applications. Fuel cells are used for primary and backup power for commercial, industrial and residential buildings and in remote or inaccessible areas. They are also used to power fuel cell vehicles, including forklifts, automobiles, buses, boats, motorcycles and submarines.
According to researcher, the Global Fuel Cell Market Size was estimated at USD 839.21 million in 2020 and is projected to reach USD 1452.99 million by 2027, exhibiting a CAGR of 8.16% during the forecast period.
researcher’s latest report provides a deep insight into the global Fuel Cell market covering all its essential aspects. This ranges from macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.
The analysis helps to shape the competition within the industries and strategies to the competitive environment in order to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of Global Fuel Cell.
The first fuel cells were invented by Sir William Grove in 1838. The first commercial use of fuel cells came more than a century later following the invention of the hydrogen–oxygen fuel cell by Francis Thomas Bacon in 1932. The alkaline fuel cell, also known as the Bacon fuel cell after its inventor, has been used in NASA space programs since the mid-1960s to generate power for satellites and space capsules. Since then, fuel cells have been used in many other applications. Fuel cells are used for primary and backup power for commercial, industrial and residential buildings and in remote or inaccessible areas. They are also used to power fuel cell vehicles, including forklifts, automobiles, buses, boats, motorcycles and submarines.
According to researcher, the Global Fuel Cell Market Size was estimated at USD 839.21 million in 2020 and is projected to reach USD 1452.99 million by 2027, exhibiting a CAGR of 8.16% during the forecast period.
researcher’s latest report provides a deep insight into the global Fuel Cell market covering all its essential aspects. This ranges from macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.
The analysis helps to shape the competition within the industries and strategies to the competitive environment in order to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of Global Fuel Cell.
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