Vancouver, BC -- (SBWIRE) -- 02/05/2021 -- Fuel cells are electro-chemical devices or cells that facilitate the conversion of the chemical energy of the fuel and an oxidizing agent into electricity through certain redox reactions. Fuel cells are similar to batteries in a way, but they do not discharge or run down. Fuel cells can generate electricity continuously as long as the supply of fuel and oxygen continues. It consists of two electrodes ? anode and cathode with electrolyte situated between them. Increasing awareness about the environment and growing usage of fuel-cell technology in varied transportations to reduce pollution levels is a major factor driving the demand for fuel cells.

Market Drivers
Mounting public consciousness is guiding the development of the industry over the projected time frame. Governments of many countries are seeking to encourage the production of fuel cells, owing to their higher performance and lower pollution standards. They are providing subsidies to owners of fuel-cell-powered cars. The industry is generally driven by the rising demand for non-conventional forms of energy over the projected timeframe. Increasing international partnerships and emerging global consciousness are fuelling the development of the industry. In addition, the financial assistance and financing for the implementation of Fuel-Cell technologies also enhances demand for the device. Government efforts to develop a robust regulatory system would provide more incentives for producers.

In terms of revenue, Asia Pacific dominated the market with a share of 40.5% in 2019 is expected to register a significant CAGR over the forecast period.

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The Proton Exchange Membrane Fuel Cell (PEMFC) segment dominated the market with a share of 53.5% in 2019 due to its higher efficiencies, lower emission rate, and can operate at a lower temperature.

The transportation segment is expected to register the highest CAGR of 26.0% over the forecast period as the government of the developing countries is replacing the gasoline-based bus with fuel cells based buses in order to reduce the CO2 emission.

Subject matter experts conducting the study also take a closer look at the products at their development stage and in the pipeline to help business owners conclude on the business strategies that can lower their cost and promise great returns or profits. Strong emphasis on new launches, acquisition and mergers, collaboration, import and export status and supply chain management empowers the business evangelists, manufacturers and business owners build a robust strategy when it comes to making an investment.

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Key participants include Ballard Power Systems, Hydrogenics Corporation, FuelCell Energy, Inc., Bloom Energy, Plug Power, Inc., SFC Energy AG, Ceres Power Holdings PLC, Doosan Fuel Cell America, Intelligent Energy, and Toshiba Energy Systems & Solutions Corporation, among others.

Regional Landscape
Asia Pacific had the highest market share in the Fuel Cell market in 2019.
In terms of sales, Asia Pacific held a share of the market of 40.5% in 2019 and is projected to register a substantial CAGR over the estimated period. The growing demand for fuel cells can be attributed to favourable policies and programs in Asian nations such as China and South Korea. In addition, government policies to minimise emissions and transition to a low-carbon environment have resulted in escalated fuel cell acceptance.

The report on global Food Safety Testing System market is intended to offer business owners, stakeholders and field marketing executives a broad overview of the business they should be focussing on for the estimated period. The research further holds vital information on the size of market and data on the prominent leaders' product owners have to compete with, in the coming years. Assessments of the broad strengths, as well as weaknesses too, add value to the overall research. Products details not only cover the popular applications and its performance, but it also unveils certain trends and value of specific products within specific regions.

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Product Outlook (Revenue, USD Billion; 2017-2027)
Phosphoric Acid Fuel Cell (PAFC)
Molten Carbonate Fuel Cell (MCFC
Proton Exchange Membrane Fuel Cell (PEMFC)
Solid Oxide Fuel Cell (SOFC)
Others

Application Outlook (Revenue, USD Billion; 2017-2027)
Portable
Stationary
Transportation

End-User Outlook (Revenue, USD Billion; 2017-2027)
Defense
Fuel Cell Vehicles
Utilities

Here are the questions we answer...
What are the future opportunities in store for the vendors operating in the Fuel cells market?
What does the competitive landscape look like?
Which emerging technologies are believed to impact the Fuel cells market performance?
What are the key trends and dynamics?
Which regulations that will impact the industry?
Which segment will offer the most opportunity for growth between 2020 and 2027?
Where will most developments take place in the long term?
Who are the most prominent vendors and how much market share do they occupy?
What are the latest technologies or discoveries influencing the Fuel cells market growth worldwide?

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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Food Safety Testing System Market Segmentation & Impact Analysis
Chapter 5. Food Safety Testing System Market By Test Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Food Safety Testing System Market By Application Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Food Safety Testing System Market Regional Outlook
Chapter 8. Competitive Landscape
Continue…