Alkaline Fuel Cell Market Increasing Demand, Growth Analysis and Future Outlook by 2031

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 further segmented based on geography including North America (the US, and copyright), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America to hold a significant share of the global alkaline fuel cells market. The market share is primarily attributed to the existing supportive legislation in the region. These legislations aim to reduce carbon emissions.

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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


• copyright


• 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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