Micro fuel cell is a power source for electronic devices that converts chemical energy into electrical energy. The compact size of micro fuel cell allows it to integrate into electronic devices. Micro fuel cells are used as alternatives of batteries in various electronic devices including portable radios, cameras, mobiles, and laptops. Methanol-based micro fuel cells can provide 10 times more energy storage than lithium batteries.
Micro fuel cells possess a long life span, as they can be charged instantly by using a new cartridge or through addition of more fuel
Micro fuel cells are eco-friendly. The operating waste is oxygen and hydrogen, which appears as humidity around the cell.
Key Drivers and Restraints of Micro Fuel Cells Market
Of late, demand for consumer electronics such as mobile phones, MP3 players, and laptops has been increasing significantly due to the rise in standard of living and increase in per capita income of the people. Emergence of new electronic devices has led to a rapid growth in demand for compact sized, light weight, and portable power sources. This, in turn, is expected to propel the demand for micro fuel cells during the forecast period.
Ease availability of raw materials required for the operation of micro fuel cells and adaptability of micro fuel cells to run on alternate fuels are also key factors propelling the global micro fuel cells market
Technological innovations in fuel cells with respect to design specifications is projected to propel the global micro fuel cells in the next few years. However, involvement of high upfront cost in development of micro fuel cells is hampering the global micro fuel cells market.
COVID-19 Impact Analysis
Governments of various countries have enforced nationwide lockdowns as part of measures to limit the spread of the COVID-19 pandemic. Consequently, sale and manufacturing facilities of consumer electronics have come to a halt across the globe. This has hampered the demand for micro fuel cells, as micro fuel cells are used in consumer electronics to provide continuous power supply for proper functioning of electronic devices. Demand for consumer electronics has decreased due to the lockdown measures implemented by countries during the pandemic.
Thumb Size and Small Bread Box Size Segments to Hold Key Share of Global Market
The global micro fuel cells market can be segmented based on size, application, and region
In terms of size, the global micro fuel cells market can be divided into thumb size, hand held, and small bread box size segments. The thumb size segment is anticipated to expand due to the ongoing demand for portable electronic devices such as phones, tablets, and industrial-grade devices.
In terms of application, the global micro fuel cells market can be divided into portable device, emergency backup power, motive power, and material handling equipment
Asia Pacific to Hold Major Share of Global Micro Fuel Cells Market
In terms of region, the global micro fuel cells market can be segregated into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
The micro fuel cells market in Asia Pacific is expected to expand at a significant pace during the forecast period. Rise in demand for consumer electronics, primarily in developing and developed countries such as India and China, due to strong economic growth, increase in purchasing power, and rapid urbanization is anticipated to propel the micro fuel cells market in the region.
North America is likely to be a stable region of the global micro fuel cells market during the forecast period. This can be ascribed to rise in demand for compact sized and energy efficient power sources for reliable operation of electronic devices.
Europe is also projected to hold key share of the global micro fuel cells market due to increase in investment in research and development activities to optimize operational efficiency of fuel cells in the region
Key Players Operating in Global Market
Leading companies operating in the global micro fuel cells market include:
UltraCell
Ballard Power Systems Inc.
myFC AB
Intelligent Energy Limited
Brunton
Global Micro Fuel Cells Market: Research Scope
Global Micro Fuel Cells Market, by Size
Thumb Sized
Hand Held
Small Bread Box Size
Global Micro Fuel Cells Market, by Application
Portable Device
Emergency Backup Power
Motive Power
Material Handling Equipment
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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aartimule Joined: April 16th, 2020 Articles Posted: 1,188
