As per Centre for Climate and Energy Solutions (C2ES), renewable energy has grown at the fastest rate as compared to other sources, with solar generation estimated to become the fastest growing electricity source that is anticipated to grow from 7% in 2015 to around 36% of the total energy renewable generation in the U.S. by 2050.
CRIFAX added a report on ‘North America Stationary Fuel Cell Market, 2019-2027’ to its database of market research collaterals consisting of overall market scenario with prevalent and future growth prospects, among other growth strategies used by key players to stay ahead of the game. Additionally, recent trends, mergers and acquisitions, growth analysis along with challenges that are affecting the growth of the market are also stated in the report.
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The utilization of vitality has been expanding in the course of the most recent decade followed by developing interest for vitality and force from among the populace. Further, change in climatic conditions by virtue of an Earth-wide temperature boost is driving the appeal for vitality in the locale, which is foreseen to drive the development of the market over the estimate time frame (2019-2027). The interest for elective wellsprings of vitality has expanded and numerous techniques are being investigated to create power through elective vitality sources that are inexhaustible and manageable so as to satisfy the vitality requests in the locale. Sun powered age is assessed to be the wellspring of vitality that can be tapped and is required to be the vitality source that would be progressively accessible. Additionally, it is anticipated that at any rate 36% of absolute sustainable power source age in the U.S. would be accessible by 2050 through sun-based age from a pitiful 7% that was produced starting at 2015.
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The consumption of power through the use of fossil fuels for generating power had been the highest, with usage of coal accounting for more than 50% of all electricity generated in the U.S. It was predicted that renewables contributed about 15 percent towards electricity generation in the year 2016 which may increase to 25 percent by 2030 in the U.S. Hydropower, wind power and biomass had contributed to majority of power generated in the U.S. and they have helped to bring down the emission levels of greenhouse gases considerably with hydro power being relatively cheaper for consumption. As of 2018, fossil fuels are the primary source of energy consumed in the U.S. forming about 80% of the energy consumed in the U.S. Canada contributed about 5% of the global production of natural gas. Additionally, Canada recorded a production of 28.2 million MWh of electricity through hydro generation as of 2019. Rising number of steps taken to embrace alternative and sustainable sources of energy is estimated to positively impact the growth of the North America Stationary Fuel Cell market over the forecast period.
To provide better understanding of internal and external marketing factors, the multi-dimensional analytical tools such as SWOT and PESTEL analysis have been implemented in the North America Stationary Fuel Cell market report. Moreover, the report consists of market segmentation, CAGR (Compound Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter’s five force model, absolute $ opportunity and anticipated cost structure of the market.
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