Fuel Cell Market Size

Press release fuel cell market trends growth scope size overall analysis and prediction by 2027 published.

Fuel cell market size.

Fuel cells are devices that produce energy by the chemical reaction within it which is expected to witness notable growth in the coming years. Increasing demand for unconventional sources of energy is one of the key factors driving the growth. The global fuel cell. 12 2020 at 4 03 p m.

Growing private public partnerships and reduced environmental impact are other factors anticipated to propel the demand. A fuel cell comprises two electrodes namely anode and cathode an electrolyte and a catalyst. Fuel cell market overview. Market size is expected to reach 8 643 million by 2022 from 2 894 million in 2015 at a cagr of 17 36 from 2016 to 2022.

A fuel cell is a device developed for generating electricity through a chemical reaction. The advent of fuel efficient technology will have a significant impact on fuel cell electric vehicles which in turn will drive the fuel cell powertrain market. The global fuel cell market was valued at usd 3 8 billion in 2018 and is anticipated to grow at a cagr of 17 5 during the forecast period.