Report Code: A15979 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Regenerative Fuel Cell Market
Request Now !A regenerative fuel cell (RFC) uses oxygen and hydrogen for the production of water, electricity, and waste heat. In a regenerative fuel cell, the conversion of fuel cell reactants into products and reconversion of fuel cell products into reactants are the two stages involved in the process of producing electrical energy. This type of fuel cell can store extremely high specific energy as compared to other fuel cells such as methanol fuel cell, polymer electrolyte membrane (PEM) cell, and others. They are being increasingly used as an alternative source to rechargeable batteries. They consist of a storage system for the reactants, and electrolyzer, and a fuel cell. Traditional batteries require several hours to get regenerative fuel cells can be recharged within a few minutes.
RFCs are expected to make a significant impact on the growth of distributed power generation systems. On account of technological benefits and cost-efficiency associated with the product, the global regenerative fuel cell technologies market is expected to pick up traction in the coming years. The staggering expense of activity and support is limiting the development of regenerative fuel cell technologies market. Besides, low accessibility of fuel and low solidness of fuel cells, particularly at hoisted temperatures are factors adversely influencing the development of the market.
COVID-19 Impact Analysis
Top Impacting Factors
The rise in usage of regenerative fuel cells, both commercial and non-commercially, owing to factors such as high reliability, environmentally friendly, and renewable energy conversion is one of the major factors that is expected to drive growth of regenerative fuel cell technologies market during the forecast period. RFCs have a wide range of applications, such as backup or emergency power generation, storage of energy for remote off-grid power sources, high-altitude, long-endurance solar rechargeable aircraft, and hybrid energy storage/propulsion systems for spacecraft. Over the coming years, North America is expected to hold a dominant share in the global regenerative fuel cell market. This could be attributed to the increasing investments made by the U.S. government into ensuring clean energy. Several vendors in the region focus on the development of efficient production facilities, which augments the demand for regenerative fuel cell technologies.
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