Alkaline fuel cells market is anticipated to grow at a considerable CAGR of 4.7% during the forecast period (2023-2030). Fuel cells are devices that convert chemical energy derived from fuels to electrical energy. The chemical reaction involves utilizing oxygen or any other oxidizing agent for continuous redox reactions. Alkaline fuel cell (AFC) employs an alkaline media as an electrolyte. AFC are also known as Bacon fuel cells, these are one of the most developed and cheaply available fuel cell technologies. Increasing demand for unconventional sources of energy is one of the key factors driving the growth. Market players across the globe are anticipated to supplement the developments by offering support in different forms including mergers & acquisitions, funding R&D activities, and funding suitable financing programs. For instance, in January 2021, Ricardo plc and AFC Energy plc collaborated for manufacturing alkaline fuel cell product and service offerings, with an initial focus on marine, rail and stationary power generation. The collaboration will develop products and services that will directly support global efforts to decarbonize transport, energy, and nationally critical infrastructure.

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The global alkaline fuel cells market is segmented on the basis of electrolyte and end-user. Based on the electrolyte, the market is bifurcated into immobilized or static and flowing. Based on the end-user, the market is sub-segmented into spacecrafts and space shuttles, defense and military, communication towers, automotive, and others including various industrial and residential applications. Among the electrolyte, immobilized or static sub-segment is anticipated to hold a considerable share of the market owing to several factors including high efficiency, flexibility to use different fuels, and utilization of direct current.

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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Market Segmentation

Global Alkaline Fuel Cells Market by Electrolyte

Immobilized or Static
Flowing

Global Alkaline Fuel Cells Market by End-User

Spacecraft and Space Shuttles
Defense and Military
Communication Towers
Automotive (Fuel Cell Powered Vehicles)
Others (Industrial Application)

Regional Analysis

North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World

Company Profiles 

Acumentrics Inc.
AFC Energy PLC
Alkaline Fuel Cell Power Corp.
Altergy Systems
Ballard Power Systems Inc.
Doosan Fuel Cell America Inc.
GenCell Ltd.
Intelligent Energy
Nexceris, LLC
Nuvera Fuel Cells LLC

The Report Covers

Market value data analysis of 2022 and forecast to 2030.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global alkaline fuel cells market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.

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