Global Fuel Cell – Market Analysis and opportunity Assessment 2014 – 2020 : Future Market Insights

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Fuel cells convert electrical energy sourced from chemical energy, through an electromechanical reaction with oxygen or other oxidizing agents. Primarily, a fuel cell functions as a battery, but is different in the way that in a fuel cell, fuel is supplied from an external source and fuel is converted to electricity without any involvement of a burning process. The demand for alternative energy sources is growing at a global level, which in turn propels the development of associated products. The first commercial application of fuel cells happened with NASA’s space programs. Fuel cells were used for application in probes, satellites and space capsules. Generally, fuel cells utilize oxygen and hydrogen during the electrochemical reaction process and generate electricity, heat and water. These cells are used where continuous flow of electricity is required. The cells provide continuous flow of electricity as long as source fuel is supplied. As fuel cells are carbon-free due to their non-burning nature, environmental norms support the development of this market.

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At a global level, various fuel cell design modifications are available. This includes solid oxide fuel cell (SOFC), proton exchange membrane (PEM), molten carbonate fuel cell (MCFC) and a few others. Furthermore, the fuel cell market can be categorized on the basis of source type as hydrogen powered, methanol powered, biogas powered, natural gas powered and hydrocarbons powered. Fuel cell technology finds application in stationary power, portable power and transportation power, and specialty vehicles, fuel cell electric vehicles, auxiliary power units and material handling equipments. Fuel cell technology has become one of the dominant technologies in the power generation industry owing to its carbon-free, non-burning nature and safe energy source.

Rising environmental concerns along with stringent regulations, especially in North America and Europe to reduce carbon emission, is likely to fuel the demand for fuel cell systems over the forecast period. Furthermore, various other factors such as consistently declining fuel cell cost due to technological advancement and uncertainty of the source of fuel cell are likely to spur growth of the fuel cell market.. Such factors limit the application of fuel cells to a narrower spectrum. Depletion of global oil and gas reserves coupled with the demand for clean energy are fuelling the global fuel cell market. Moreover, companies and governments worldwide promote the shift in focus towards renewable energy generation options.

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In the past few years, fuel cell market has witnessed different levels of developments, especially occurring in North American and European countries. FMI also analyzed MEA, Latin America and Asia Pacific as potential markets for the fuel cell technology. In addition, Asia Pacific has become hub for consumer electronics; where electronic goods are produced at relatively lesser cost. Fuel cell market is likely to take advantage of such factors and is expected to witness increment in the penetration in Asia Pacific.

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Our research services cover global as well as regional emerging markets such as GCC, ASEAN and BRICS. Our offerings cover a broad spectrum of industries including Chemicals, Materials, Energy, Technology, Healthcare and Retail. FMI’s operating model blends cross-disciplinary research experience to deploy in-depth, insightful and actionable research.

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Produced Water Treatment Systems Market Analysis & Opportunity Assessment 2014 – 2020 : Future Market Insights

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This report provides a detailed collation of market data, and offers a snapshot of 2013 market conditions. According to this report, the market for produced water treatment systems is estimated to grow at a robust CAGR of 6.1% during the forecast period.

Offering some insight into the geographical distribution of the market, AbhishekS. said, “North America is the dominant regional segment in the global produced water treatment systems market, thanks largelyto the high revenue generated by the U.S.The North American market accounts forover one-third of the global market.”North America’s share in the global market is expected to increase during the forecast period.Markets in Asia Pacific and Europeare also expected to expand during the forecast period.

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Stringent environmental norms governing the disposal of produced waterin North America are responsible for the dominant market share of this region.Treatment of produced water is mandatory in North America and Europe, resulting in these regions accounting for higher market shares compared to others.

Produced water reinjection is becoming the norm in the petroleum industry. In 2014 alone, 201.4 billion barrels of produced water were generated from oil and gas wells across the globe. Of these, 136.9 Bn barrels were disposed of, and over 65Bn barrels were re-injected into oil fields, both onshore and offshore.According to Abhishek, the increased generationof produced water is due to the fact that pre-existing oil wells areageing.

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“As oil wells become older, oil production begins to drop and more produced water is re-injected to help sustain production,”Abhishek stated, adding, “Produced water volumes are expected to rise to over 340Bn barrels by 2020.” Reinjection of produced water, in both onshore and offshore wells, is expected to grow at a double-digit CAGR from 2014 to 2020.Consequently, American oil wells, most of which are old, will be the prime drivers of the market till 2020.

Three types of technology are used in produced water treatment systems: primary, secondary and tertiary. Of these, the secondary treatment systems held the dominant share in the market in 2013. However, tertiary treatment systems are expected to grow at the fastest CAGR during the forecast period. The technology used to treat saline produced water generated offshore will also emerge as a strong contender in the near future.

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The emergent technology in the produced water treatment systems market will have to be more sophisticated, or customised todealwith produced water that is more contaminated. Consequently, the leading players in the global produced water treatment systems market are opting for patented, tertiary and innovative technologies. This is a key trend likely to drive growth of the global produced water treatment systems market.

About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm delivering syndicated research reports, custom research reports and consulting services which are personalised in nature. FMI delivers a complete packaged solution, combining current market intelligence, statistical anecdotes, technology inputs, valuable insights into market growth patterns, a bird’s-eye view of the competitive framework and future market trends.

Our research services cover global as well as regional emerging markets such as GCC, ASEAN and BRICS. Our offerings cover a broad spectrum of industries including Chemicals, Materials, Energy, Technology, Healthcare and Retail. FMI’s operating model blends cross-disciplinary research experience to deploy in-depth, insightful and actionable research.

Contact

Ms. Shibboo Singh
3rd Floor,
207 Regent Street,
London – W1B 3HH
United Kingdom
T: + 44 (0) 20 7692 8790
D: +44 (0) 20 3287 4268
Email:
Website: www.futuremarketinsights.com