Micro Fuel Cells: Introduction
- Micro fuel cell is a power source for electronic devices that converts chemical energy into electrical energy. The compact size of micro fuel cell allows it to integrate into electronic devices. Micro fuel cells are used as alternatives of batteries in various electronic devices including portable radios, cameras, mobiles, and laptops. Methanol-based micro fuel cells can provide 10 times more energy storage than lithium batteries.
- Micro fuel cells possess a long life span, as they can be charged instantly by using a new cartridge or through addition of more fuel
- Micro fuel cells are eco-friendly. The operating waste is oxygen and hydrogen, which appears as humidity around the cell.
Key Drivers and Restraints of Micro Fuel Cells Market
- Of late, demand for consumer electronics such as mobile phones, MP3 players, and laptops has been increasing significantly due to the rise in standard of living and increase in per capita income of the people. Emergence of new electronic devices has led to a rapid growth in demand for compact sized, light weight, and portable power sources. This, in turn, is expected to propel the demand for micro fuel cells during the forecast period.
- Ease availability of raw materials required for the operation of micro fuel cells and adaptability of micro fuel cells to run on alternate fuels are also key factors propelling the global micro fuel cells market
- Technological innovations in fuel cells with respect to design specifications is projected to propel the global micro fuel cells in the next few years. However, involvement of high upfront cost in development of micro fuel cells is hampering the global micro fuel cells market.
COVID-19 Impact Analysis
- Governments of various countries have enforced nationwide lockdowns as part of measures to limit the spread of the COVID-19 pandemic. Consequently, sale and manufacturing facilities of consumer electronics have come to a halt across the globe. This has hampered the demand for micro fuel cells, as micro fuel cells are used in consumer electronics to provide continuous power supply for proper functioning of electronic devices. Demand for consumer electronics has decreased due to the lockdown measures implemented by countries during the pandemic.
Thumb Size and Small Bread Box Size Segments to Hold Key Share of Global Market
- The global micro fuel cells market can be segmented based on size, application, and region
- In terms of size, the global micro fuel cells market can be divided into thumb size, hand held, and small bread box size segments. The thumb size segment is anticipated to expand due to the ongoing demand for portable electronic devices such as phones, tablets, and industrial-grade devices.
- In terms of application, the global micro fuel cells market can be divided into portable device, emergency backup power, motive power, and material handling equipment
Asia Pacific to Hold Major Share of Global Micro Fuel Cells Market
- In terms of region, the global micro fuel cells market can be segregated into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The micro fuel cells market in Asia Pacific is expected to expand at a significant pace during the forecast period. Rise in demand for consumer electronics, primarily in developing and developed countries such as India and China, due to strong economic growth, increase in purchasing power, and rapid urbanization is anticipated to propel the micro fuel cells market in the region.
- North America is likely to be a stable region of the global micro fuel cells market during the forecast period. This can be ascribed to rise in demand for compact sized and energy efficient power sources for reliable operation of electronic devices.
- Europe is also projected to hold key share of the global micro fuel cells market due to increase in investment in research and development activities to optimize operational efficiency of fuel cells in the region
Key Players Operating in Global Market
Leading companies operating in the global micro fuel cells market include:
- Ballard Power Systems Inc.
- myFC AB
- Intelligent Energy Limited
Global Micro Fuel Cells Market: Research Scope
Global Micro Fuel Cells Market, by Size
- Thumb Sized
- Hand Held
- Small Bread Box Size
Global Micro Fuel Cells Market, by Application
- Portable Device
- Emergency Backup Power
- Motive Power
- Material Handling Equipment
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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