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Follow on Google News | Eco-Friendly Usage of the PEM Fuel Cells Propels Fuel Cell IndustryThe estimated size of the global fuel cell market, which was $1,799.9 million in 2021, will witness a humongous CAGR of 33.2% from 2021 to 2030, to reach $23,743.4 million by 2030.
By: P&S Intelligence In 2021, fuel cells capture sales worth $1,799.9 million and it is expected to rise to $23,743.4 million by 2030, growing at a rate of 32.2% in the near future. Fuel cells function as batteries but they neither run downs nor require recharging. Therefore, they are highly utilized for various commercial and residential applications to produce electricity and heat by fuel present in them. The polymer electrolyte membrane or PEM fuel cells convert chemical energy into electrical energy and releases water only as a by-product. It has the potential to reduce energy consumption, dependence on fossil fuels, and pollution emissions. During the last couple of decades or so, fundamental research has made advancements in fuel technology. Alkaline fuel cells possess highest level of electrical efficiency, among all fuel cells (https://www.psmarketresearch.com/ Phosphoric acid fuel cells utilize phosphoric acid (H3PO4) at a higher concentration level, due to platinum contents in the porous carbon electrodes and electrolyte. They operate at a temperature between 170°C and 210°C. In these types of cells, the carbon dioxide present in the air is utilized as an oxidant, while hydrogen is used as the primary fuel for power generation. Therefore, fuel cells are increasingly demanded for power generation as they do not require recharging. End
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