Alkaline fuel cells market is anticipated to grow at a considerable CAGR of 4.7% during the forecast period (2023-2030). Fuel cells are devices that convert chemical energy derived from fuels to electrical energy. The chemical reaction involves utilizing oxygen or any other oxidizing agent for continuous redox reactions. Alkaline fuel cell (AFC) employs an alkaline media as an electrolyte. AFC are also known as Bacon fuel cells, these are one of the most developed and cheaply available fuel cell technologies. Increasing demand for unconventional sources of energy is one of the key factors driving the growth. Market players across the globe are anticipated to supplement the developments by offering support in different forms including mergers & acquisitions, funding R&D activities, and funding suitable financing programs. For instance, in January 2021, Ricardo plc and AFC Energy plc collaborated for manufacturing alkaline fuel cell product and service offerings, with an initial focus on marine, rail and stationary power generation. The collaboration will develop products and services that will directly support global efforts to decarbonize transport, energy, and nationally critical infrastructure.
Moreover, the alkaline fuel cells market is restrained by the advancements in the polymer electrolyte membrane (PEM) fuel cells owing to their ability to generate lower power densities. The alkaline fuel cell electrodes are poisoned by carbon dioxide which impacts the cell’s operation. This necessitates the decontamination of oxygen and hydrogen utilized in the cell, hence, making it cost-intensive.
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Alkaline Fuel Cells Market Segmentation
By Electrolyte
- Immobilized or Static
- Flowing
By End-User
- Spacecraft and Space Shuttles
- Defense and Military Communication Towers
- Automotive (Fuel Cell Powered Vehicles)
- Others (Industrial Application)
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Acumentrics Inc.
- AFC Energy PLC
- Alkaline Fuel Cell Power Corp.
- Altergy Systems
- Ballard Power Systems Inc.
- Doosan Fuel Cell America Inc.
- GenCell Ltd.
- Intelligent Energy
- Nexceris, LLC
- Nuvera Fuel Cells LLC
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