Micro Fuel Cells Market Recent Trends, Business Scenario, High Demand, Product, Share and Forecasts 2030
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.
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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.
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
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Key Players Operating in Global Market
Leading
companies operating in the global micro fuel cells market include:
·
UltraCell
·
Ballard Power Systems Inc.
·
myFC AB
·
Intelligent Energy Limited
·
Brunton
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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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
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