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| Source: www.wikipedia.org |
A fuel cell is a
device which converts chemical energy into electricity by using fuel as input.
Chemical reaction takes place on between fuel and oxygen or some other oxidizing
agents. Hydrogen is mainly used as fuel
but sometimes hydrocarbons like alcohols or natural gas can also be used.
There is a major
difference between fuel cell and batteries as fuel cell requires constant
supply of fuel & oxygen. Fuel cell can produce electricity as long as there
is fuel in it.
It took 100
years to use fuel cell on commercial basis after its invention in 1838. NASA is
one of the first to use it to generate power for various devices like
satellites and space capsules.
Fuels cells are
used as a primary backup power for industries, commercial and residential use. They are also used in automobiles, bikes, buses,
airplanes, boats and submarines.
Working of Fuel Cell:
Fuel cell
consists of an anode and a cathode. Electrolyte is filled within it which
contains electrons. When external circuit is connected to it, electrons moves
from anode to cathode producing direct current. A single fuel cell produces
relatively small electrical potential of 0.7 v so many cells are connected in
series to produce higher electric current.
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| Source: www.protonex.com |
There can be
40-60% of energy efficiency to use fuel cell but if generated heat is reused
properly, its efficiency will increase up to 85%. Fuel cell market is growing
with a good pace and is estimated to reach to 50 GW by 2020.
The technology of
converting chemical energy into electrical energy through electromechanical
reaction is used in fuel cells, performing functions like an engine for
converting fuel into electricity without burning it.
Chemical reaction
produces different by products as water, heat, nitrogen oxides etc. When
hydrogen is used in fuel cell, it produces water with zero emissions. This is
in synergy with the growing demand for eco friendly practices. This results
into increasing demand for fuel cell devices.
The list of key players in the industry
is given below:
- AFC Energy (U.K.),
- Heliocentris (Germany),
- Topsoe (Denmark),
- Genport SRL (Italy),
- SFC Energy (Germany), and
- Ceres Power (U.K.)
Markets
and Economics:
In 2012, fuel
cell industry revenues exceeded $1 billion market value worldwide, with Asian
pacific countries shipping more than 3/4 of the fuel cell systems worldwide Approximately
50% of fuel cell shipments in 2010 were stationary fuel cells, up from about a
third in 2009.
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| Source: www.marketsandmarkets.com |
The four
dominant producers in the Fuel Cell Industry were the
- United States,
- Germany,
- Japan and
- South Korea.
Europe has a target
of reducing the carbon footprint by 80%. Fuel cells offer a great alternative with
zero emission and clean energy source so demand for the fuel cells is
increasing. However, establishing fuel cell infrastructure and
commercialization of fuel cells is a big challenge from Europe’s point of view.
Classification of
fuel cells is done on the basis of type of components used and type of reaction
taking place inside the cell. Some of the well known components used are
methanol, biogas, natural gas, hydrocarbon and hydrogen. The major primary fuel source for fuel cells is Hydrogen.
Major
fuel type/technologies include
- Polymer/Proton Exchange Membrane (PEM) Fuel Cell,
- Direct Methanol Fuel Cell, and
- Phosphoric Acid Fuel Cell,
- Solid Oxide Fuel Cell,
- Molten Carbonate Fuel Cell and others.
Polymer/Proton Exchange Membrane (PEM) Fuel Cell
are the largest type in terms of revenue generating more than half of the
revenue. Europe is the leading
market of this technology producing more efficient fuel cell systems. The European fuel
cell market is segmented on different basis as applications, types, regions and
types of primary fuel source used in.
Developing hydrogen infrastructure can be seen
in Germany and U.K. Germany is having the largest market share followed by U.K.
& rest of Europe.
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| Source: ec.europa.eu |
The very common factor in market development
strategies of key players is expansion and diversification of geographical
areas. Agreements, contracts, joint ventures, merger and acquisition are the
common techniques for the marketers.
Marketers are using the strategies like agreements,
collaborations & partnerships penetrate the existing market, and expansion
into the new and emerging markets. A quality research on fuel cell technology
will focus on winning strategies, burning issues, market drivers, challenges,
threats and opportunities.
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