The Europe Fuel Cell Technology Market size is expected to grow at an annual average of 11% during 2021-2027. Europe Fuel Cell Technology Market is expected to rise at the highest CAGR during the forecast period. The technology of transforming chemical energy into electrical energy by electromechanical reaction is used in fuel cells, performing functions such as the engine for converting fuel into electricity without burning it. The fuel cells are distinguished on the basis of the materials used and the form of reaction that occurs inside the cell. Required fuels include hydrogen, methanol, biogas, natural gas and hydrocarbons. Stationary applications are on the rise as they are very powerful sources of off-grid electricity. With Europe’s goal of reducing carbon footprint by 80 per cent, fuel cells provide a major zero-emission option and a renewable energy source that has a strong demand for them. Growing environmental issues and the demand for renewable energy are driving fuel cell development. Europe is at the forefront of this technology, with EU support for such projects and European companies designing more reliable fuel cell systems.
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A full report of Europe Fuel Cell Technology Market is available at: https://www.orionmarketreports.com/europe-fuel-cell-technology-market/45016/
The following segmentation are covered in this report:
By Applications
- Portable
- Stationary
- Transport
By Types
- PEMFC
- DMFC
- PAFC
- SOFC
- MCFC
By Fuel
- Hydrogen
- Natural Gas
- Methanol
- Anaerobic Digester Gas
Company Profile
- Ballard Power System Inc.
- Toshiba Fuel Cell Power Systems Corporation
- Fuelcell Energy Inc.
- Nuvera Fuel Cells LLC
- Plug Power Inc.
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
