Albany, NY -- (SBWIRE) -- 09/14/2018 -- Artificial leaf or artificial photosynthesis is new technology which aims to mimic natural photosynthesis and produce energy. In plants, photosynthesis is the process of converting sunlight, carbon dioxide, and water into carbohydrates. In artificial photosynthesis utilizes these elements to produce energy instead of carbohydrates. Artificial photosynthesis produces hydrogen and other bio fuels, which can be utilized to generate energy. Scientists and researchers are exploring this technology to produce energy from artificial photosynthesis. The primary application of this technology is the clean production of hydrogen, which is an alternative from of energy.
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Artificial Leaf Market: Segmentation Overview
By applications, artificial leaf market is segmented as automotive, energy, agricultural, and commercial. Artificial leaf has application in solar fuel by using energy from the sun to split carbon dioxide and water into carbon, oxygen, and hydrogen and these elements can be combined to produce green methanol. The main application of artificial leaf technology is to produce hydrogen, which is an alternative form of energy. Artificial leaf technology results in large scale production of hydrogen to be used in fuel cell vehicles. High demand from vehicle manufactures in Asia Pacific is expected to drive demand for artificial leaf market.
Artificial Leaf Market: Overview
The artificial leaf technology is expected to develop further during the forecast period as it has huge market potential in terms of energy solutions. Artificial leaf technology offer faster and efficient large scale production of hydrogen, which is anticipated to increase its use as fuel cell in vehicles. The artificial leaf market is anticipated to attract fuel cell vehicle manufactures to invest in this technology. Increase in need for green technologies is anticipated to drive demand for artificial leaf market in the U.S. and Europe.
Artificial Leaf Market: Regional Outlook
Based on region, the artificial leaf market is segmented into North America, South America, Asia Pacific, Europe, and Middle East & Africa. The artificial leaf market in Asia Pacific is projected to expand at a significant pace during forecast period, followed by North America and Europe. High demand for artificial leaf technology from vehicle manufactures is projected to fuel the artificial leaf market in Asia Pacific. Therefore, vehicle manufacturers are heavily investing in artificial leaf technology.
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Artificial Leaf Market: Key Players
Key players in the global artificial leaf market are Biosolarcells, TOSHIBA CORPORATION, Evonik Industries AG, Air Liquide, and FuelCell Energy,Inc.