Electric Vehicles Fuel Cells Market Estimated to Expand at a Robust CAGR by 2027

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Electric Vehicles Fuel Cells Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2027

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Need for Zero-Emission Transport
Solutions

• G8 Leaders (Canada, Russia, Italy, Germany,
  Japan, France, the U.K., and U.S.) and Europe
   have declared to cut carbon dioxide emission by
  at least 80 by 2050 in order to stabilize
  atmospheric carbon dioxide and global warming
• In order to cut the carbon dioxide emission,
  decarbonization up to 95 of the road transport
  is required. The compatibility and availability
  of alternative biofuels is also very low
• Improvement in efficiency of the internal
  combustion engine cannot be expected to improve
  more than 30 during the coming years 

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Fuel Cell as Technology

• Fuel cell is akin to a battery, which generates
  electricity with the help of electrochemical
  reaction. Fuel cells and batteries convert
  chemical energy into electrical energy. Fuel
  cells also produce a by-product during the
  process that is heat.
• Once the energy from battery is depleted, the
  battery needs to be discarded or recharged with
  the help of an external electrical supply to run
  the electrochemical reaction in opposite
  direction
• Fuel cell can operate as long as it is provided
  with a source of fuel, which is hydrogen. The
  electrochemical oxidization of hydrogen takes
  place in fuel cell in an effective way.
• The oxygen atoms react with hydrogen ions,
  resulting in formation of water, while electrons
  are released and passed through an external
  circuit in the form of electric current.
• In this entire process, water vapor is the only
  exhaust emitted. 

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Key Drivers of Electric Vehicles Fuel Cells
Market

• To overcome the pollution caused by the
  application of crude oil, petroleum products,
  etc. as hydrogen is non-polluting as a fuel. The
  only byproduct of hydrogen after combustion is
  water and heat.
• To stabilize the carbon dioxide content in the
  atmosphere and reduce the chances of global
  warming in the near future. As, the carbon
  dioxide emission is expected to nullify on
  application of fuel cells.
• Fuel cells are likely to increase the overall
  efficiency of automobiles 

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Key Players in Electric Vehicles Fuel Cells
Market

• Fuji Electric Co., Ltd.
• Elcogen AS
• Ballard Power Systems.
• Hydrogenics
• Dana Limited
• NUVERA FUEL CELLS, LLC
• Oorja Corporation

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