A fuel cell converts chemical energy into electrical energy through an electromechanical reaction. It is similar to a battery. A fuel cell consists of two electrodes, anode (positive) and cathode (negative), and an electrolyte that carry electrically charged elements from one electrode to another. A catalyst is required in the fuel cell, which speeds up the reaction taking place in the electrodes. Fuel cell creates little pollution because it uses hydrogen as the fuel. The hydrogen combines with oxygen to form water, which is a harmless by-product. This pollution reduction is one of the major reasons for the increased adoption of fuel cell. Various fuels that can be used in a fuel cell are methanol, biogas, hydrogen, natural gas, and hydrocarbons.
Technavio's analysts forecast the global fuel cell market to grow at CAGRs of 30.40% and 31.91% in terms of unit shipment and MW shipment, respectively, over the period 2014-2019.
The report covers the present scenario and the growth prospects of the global fuel cell market for the period 2015-2019. The report provides the segmentation of the market based on the following criteria: application, fuel cell type, and geography.
Technavio's report, Global Fuel Cell Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects of the market in the coming years. The report includes a discussion of the key vendors operating in this market.
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