Alkaline Fuel Cell Market

Global Alkaline Fuel Cell Market: Overview

Fuel cell converts chemical energy into electrical energy by a chemical reaction with oxidizing agent. There are many types of fuel cells consisting of anode, cathode and electrolyte which help the charges to move between two sides of the fuel cells. Alkaline Fuel Cell or AFC uses alkaline electrolyte and is also known as Bacon fuel cell. It is one of the most developed and cheapest fuel cell technologies.

The Alkaline Fuel Cells are used since 1980s they have high power density and have long lifetime in certain applications which increase its usage in different areas. Some of the major factors responsible for the growth of alkaline fuel cell market are its better efficiency than PEM fuel cell in moderate conditions, quick start at sub-zero temperature, high conductivity compared to other fuel cells and low cost of electrodes. The growth of alkaline fuel cell market slowed down after the arrival of Polymer Electrolyte Membrane (PEM) fuel cell due to its lower power density. It is easily poisoned by carbon dioxide which affects cell’s operation. This requires purification of hydrogen and oxygen used in the cell making it a costly process. The alkaline fuel cell market has potential to succeed in certain market due to better efficiency in niche applications. More R&D activities in this technology will help to refine its application and usage and will turn into successful market offerings.

Alkaline Fuel Cell is mainly used in three types of markets. As backup power for communication towers in stationary market, as auxiliary power for worksites, boats in portable market and as electric vehicles, golf cars, fork lift vehicles in transportation market. The AFC was used in Apollo series to provide electricity on-board of the shuttle. This fuel cell consumes hydrogen and pure oxygen and produces hot water as waste product which can also be used for drinking by astronauts.

Global Alkaline Fuel Cell Market: Key Players

Some of the key players in the Alkaline Fuel Cell Market are Fuel Cell Energy, Bloom Energy, Toshiba, AFC Energy Plc and Ballard Power Systems Inc.

The rising prices of fuels coupled with the fast depletion of non-renewable resources have triggered the use of alkaline fuel cells on a large scale. Furthermore, environment conservation is also an important aspect that is accelerating the demand for alkaline fuel cells extensively. Hence, all these factors are estimated to bring considerable growth opportunities for the alkaline fuel cell market.

Alkaline fuel cells can be defined as devices that convert chemical energy into electrical energy out of the energy that is derived from fuels. The technological breakthrough offers lucrative opportunities to meet the fuel requirements and excel in terms of maintenance costs and efficacy. All these aspects prove to provide new revenue generation opportunities for the alkaline fuel cell market.

The encouragement of the government bodies of many countries to use alkaline fuel cells is estimated to propel the demand substantially. The recent developments in the alkaline fuel cell market generate extensive awareness about alkaline fuel cells, eventually propelling growth opportunities across the global market. Furthermore, many government bodies are providing numerous subsidies for boosting the use of alkaline fuel cells. All these factors are proving to be a boon for the alkaline fuel cell market.

The use of electric vehicles (EVs) is increasing at a rapid pace. Electric vehicles have become a popular trend among the global populace prominently due to the low cost and less pollution factor. In addition, government bodies in developing countries across the globe are focusing deeply on strengthening the EV infrastructure across their region which has proved to be a growth accelerator for the market. The extensive application of alkaline fuel cells in end-use industries such as power generation, spacecraft, military, automobiles, and others has created immense growth opportunities for the alkaline fuel cell market. Concurrently, alkaline fuel cells are cost-effective and operate more efficiently as compared to other fuel cells.

The alkaline fuel cell market has numerous competitors vying for acquiring a large consumer base. The players are always involved in intense research and development activities that help in developing various formulations which increase fuel efficiency. These factors eventually help in adding value to the growth trajectory of the alkaline fuel cell market. Furthermore, the players also indulge in strategic collaborations. Mergers, acquisitions, joint ventures, and partnerships play a crucial role in the expansion of the alkaline fuel cell market.