Fuel
Cell Bipolar Plate Market: Introduction
Transparency
Market Research delivers key insights on the global fuel cell
bipolar plate market. In terms of revenue, the global fuel cell
bipolar plate market is estimated to expand at a CAGR of 57.5% during the
forecast period, owing to numerous factors, regarding which TMR offers thorough
insights and forecasts in its report on the global fuel cell bipolar plate.
The global
fuel cell bipolar plate market is broadly affected by several factors,
including government initiatives to promote the adoption of fuel cell, increase
in the demand for fuel cell-based automobiles, and development of clean energy
generation. Furthermore, introduction of stringent regulations to minimize
carbon emissions is also a key factor that is anticipated to propel the global
fuel cell bipolar plate market.
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Fuel Cell Bipolar Plate Market:
Dynamics
A fuel cell
uses the chemical energy of hydrogen or another fuel to produce electricity.
Furthermore, the use of hydrogen as fuel would only produce electricity, water,
and heat. Thus, fuel cells have diverse applications, ranging from utility
power station to automobiles.
Fuel cells
can operate at higher efficiencies as compared to that of combustion engines,
and can convert chemical energy in the fuel to electrical energy with
efficiencies of up to 60%. Fuel cells
have lower emissions than combustion engines, as they emit only water;
therefore, there is no CO2 emission and no air pollutants that cause health
issues. Furthermore, fuel cells are silent during operation, as they have fewer
moving parts.
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Awareness
about pollution caused by the automotive industry has been increasing over the
past few years. Thus, focus on green fuel for vehicles is increasing, which
would reduce emission of greenhouse gases and CO2. Fuel cells could provide
lower emission, thus the sales of the fuel cell operated vehicles has been
increasing. Sales of fuel cell vehicles stood at around 6,500 in 2018, and
reached approximately 7,500 in 2019. Sale of fuel cell operated vehicles is
expected to reach 980,000 units by 2030. Polymer electrolyte membrane fuel
cells are currently the focus of research for fuel cell vehicle applications.
The demand
for fuel cells is expected to increase in the near future, due to the
environmental benefits they offer; therefore, the demand for fuel cell from
automobile applications is expected to drive the fuel cell bipolar plate market
during the forecast period.
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In terms of
application, the proton exchange membrane fuel cells (PEMFC) segment dominated
the global fuel cell bipolar plate market in 2019. The segment is expected to
expand at a CAGR of 57.5% between 2020 and 2030, due to advantages such as high
power density and high-energy conversion efficiency.
Fuel Cell Bipolar Plate Market:
Prominent Countries
Asia
Pacific held key share of the global fuel cell bipolar plate market in 2019.
Rapid implementation of the fuel cell technology in public transport in
countries such as China, Japan, South Korea, India, and Singapore is a key
factor propelling the fuel cell bipolar plate market in this region. China
dominated the fuel cell bipolar plate market in Asia Pacific in 2019.
The fuel
cell bipolar plate market in Europe is projected to expand considerably during
the forecast period due to a rise in investment in R&D of fuel cell
technology. Furthermore, government initiatives, such as subsidies, to promote
the usage of fuel cell is also boosting the demand for fuel cell bipolar plate
in Europe. Fuel cells can provide green fuel, which would to reduce greenhouse
gases and carbon emissions in the region.
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The fuel
cell bipolar plate market in North America is projected to expand at a moderate
pace during the forecast period. The U.S. dominated the fuel cell bipolar plate
market in North America in 2019. The increase in demand for fuel cells from the
automotive industry in the country is anticipated to boost the fuel cell
bipolar plate market in the U.S.
Fuel Cell Bipolar Plate Market: Key
Players
Major
players operating in the global fuel cell bipolar plate market are POCO,
Interplex Holdings Pte. Ltd., Shanghai Hongfeng Industrial Co.,Ltd., Ballard
Power Systems Inc., Aperam, Dana Limited, Cell Impact, Impact Coatings AB,
PRAGMA INDUSTRIES, TECHNICAL FIBRE PRODUCTS, Schunk Carbon Technology,
Nisshinbo Chemical Inc., and Veco B.V.
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