Global Molten Carbonate Fuel Cells (MCFCs) Market 2018-2022 | Rise in Demand for Clean Energy to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 26, 2018-- analysts forecast the global molten carbonate fuel cells (MCFCs) market to grow at a CAGR of over 24% during the forecast period, according to their latest market research report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181226005067/en/
Technavio has published a new market research report on the global molten carbonate fuel cells (MCFCs) market from 2018-2022. (Graphic: Business Wire)
The growing vendor collaboration and PPAs is one of the major trends being witnessed in the . FuelCell Energy is dominating the global MCFCs market. For leveraging and capitalizing on its core fuel cell technology and products with the global market, FuelCell Energy adopts a business strategy that involves utilizing strategic business alliances and collaborative agreements. The objective of these alliances is market development, cost reduction, and financing. Likewise, several companies are collaborating with competitors, which will boost the growth of the global market.
According to Technavio analysts, one of the key factors contributing to the growth of the global molten carbonate fuel cells (MCFCs) market is the rise in demand for clean energy.
Global molten carbonate fuel cells (MCFCs) market: Rise in demand for clean energy
With the strong economic growth in several countries across the world, the global demand for energy increased by 2.1 % in 2017. Traditionally oil, natural gas, and coal catered to over 70 % of the growth in global energy demand. However, in 2017, the consumption of natural gas increased by 3% as compared to 2016. China was the dominant regional contributor accounting for one-third of this natural gas consumption and the building, and industrial sectors accounted for 80% of the increased global demand. Thus, the rise in demand for clean energy will fuel the growth of the global molten carbonate fuel cells (MCFCs) market during the forecast period.
According to a senior analyst at Technavio for research on power, “Apart from the rise in demand for clean energy, factors such as the growth in stationary power applications, and the increase in investment and support from government are expected to positively impact the growth of the global molten carbonate fuel cells market during the forecast period.”
Global molten carbonate fuel cells (MCFCs) market: Segmentation analysis
The global molten carbonate fuel cells (MCFCs) market research report provides market segmentation by application (utilities, and C&L), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas region held the largest share of the market in 2017, accounting for over 50% share, followed by EMEA and APAC respectively. The Americas will continue to dominate the market during the forecast period with the highest incremental growth.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181226005067/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY OTHER ENERGY MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 12/26/2018 10:20 AM/DISC: 12/26/2018 10:20 AM