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(AsiaNewsWire.Net, November 12, 2019 ) Market Outlook:-
Molten carbonate fuel cell is a chemical process that converts fuel into electricity. The Molten Carbonate Fuel Cell (MCFC) works at a high temperature (about 650 °C) and offers various advantages.
The high efficiency of the molten carbonate fuel cells and the advantage of low emissions and fuel flexibility are driving the market growth in recent years. The growing concerns for environmental pollution and increasing regulations for decreasing carbon emission will further drive the market growth in the forecast period to 2026.
The high cost of the equipment which is 3 to 4 time high compared to conventional technologies is hampering the growth of molten carbonate fuel cell market.
By Fuel type, the market is segmented as Natural gas, biogas, and others. Biogas segment is anticipated to have increased growth over the forecast period to 2026, due to the growing demand for cleaner fuels that cause less harm to the environment, will lead to the rising demand for biogas fuels.
By platform type, market is segmented as portable, stationary and transport. The mobile segment is expected to have strong growth over the forecast period to 2026 with increasing adoption of fuel cells in the domestic applications such as home applications where the user can use molten carbonate fuel cell technology for both electricity and heating application.
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Geographically, the market is generally divided into North America, Europe, South America, Asia-Pacific and the rest of the world.
North America is accounted for the significant share in the market due to high disposable incomes and growing investments in the fuel cell technologies. Growing industrialization trend in the Asia Pacific region will lead to the strong growth for molten carbonate fuel cell market over the forecast period to 2026.
The competition in the industry is spread among a few large and international players globally. Few prominent players in the sector are FuelCell Energy solutions and Franco Cell with its long presence in the fuel cell technologies.
Key players in the industry are developing and utilizing molten carbonate fuel cell technologies in cooperation with end users. For instance, in May 2018, FuelCell Energy along with ExxonMobil is re-engineering its fuel cell technology to capture carbon at a power plant in Alabama.
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