Micro fuel cells Market: Overview
Micro fuel cells is a power source for electronic devices that uses oxidized hydrogen or alcohol that converts chemical energy into electrical energy. Micro fuel cells are used as an alternative of batteries in mobiles, laptops, cameras and portable radios, it provides power up to 50 Watts. They can be said as scaled down versions of the micro fuel cells (that are used in vehicles). A conventional battery works on the principle of electrolysis (reactions between electrolytes and metals) and their chemical nature changes by time, while the micro fuel cells consumes its own fuel leaving an empty reservoir or cartridge. They can be charged instantly by adding more fuel in it or by using a new cartridge, thus it overcomes the major drawback of batteries that takes several hours to recharge. Micro fuel cells are also environment friendly as the fuel used is hydrogen and oxygen, the waste formed at the end of the process will be in the form of increased humidity around the cells. Methanol based micro fuel cells can provide 10 times more energy storage than Lithium battery. Thus the global Micro fuel cells are expected to witness a healthy CAGR in the forecasted period.
Micro fuel cells Market: Drivers and Restraints
The ease of use and portability of Micro fuel cells rather than batteries is a major driving factor of global Micro fuel cells market. Also the growing prominence of smartphones, laptops, handheld devices and consumer electronics market is bolstering the global Micro fuel cells market. The eco-friendly nature of Micro fuel cells, and low operating noise level makes it a preferable as compared to its alternatives. The easy availability of energy sources required for the operations of Micro fuel cells and its adaptability to run on different alternate fuels also contribute in the growth of global Micro fuel cells market.
However, the high initial cost of Micro fuel cells and its flammable nature can slowdown the growth of global Micro fuel cells market. Moreover, Micro fuel cells are bigger in size as compared to batteries that can be a restraining factor in the global Micro fuel cells market.
Micro fuel cells Market: Segmentation
On the basis of product type, the Micro fuel cells market can be segmented as follows:
On the basis of size, the Micro fuel cells market can be segmented as follows:
On the basis of application, the Micro fuel cells market can be segmented as follows:
Micro fuel cells Market: Region Wise Outlook
The global micro fuel cells market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. North America is the leader in the micro fuel cells market due to its growing consumer electronics and other portable electronics market. North America is followed by Asia Pacific in terms of the market share in the global micro fuel cells market owing to its rising smartphones and portable chargers market. China and India are the major contributor in this region. The surging automobiles market in Europe and particularly in Germany is anticipated to contribute significantly in the growing global micro fuel cells market. Latin America and Middle East and Africa are at a nascent stage in the global micro fuel cells market but are anticipated to growth at a healthy CAGR in the forecast period.
Micro fuel cells Market: Key Players
Some of the key players in the global micro fuel cells market are as follows:
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