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Fuel Cell Industry Analysis
RNCOS E-Services Private Limited, July 2009, Pages: 115
Fuel cell technology has garnered great support and interest around the world in the past decade because of its huge market potential, positive impact on air quality and radically different nature than currently available power sources. The technology has witnessed a remarkable expansion in terms of new installations worldwide and the immense growth in the shipments of the fuel cell products. Besides, it has the potential to strengthen national energy security by reducing dependence on imported petroleum.
According to our new research report, 'Fuel Cell Industry Analysis”, the fuel cells market has a bright future ahead and will see wide acceptance given the high growth in the global cumulative shipments at a CAGR of around 49% during 2005-2008. This increase is largely attributed to growing number of regions launching high profile projects and a large number of countries increasing their emission legislation standards.
We have classified the fuel cells as - Molten Carbonate Fuel Cells (MCFC), Proton Exchange Membrane Fuel Cells (PEMFC), Solid Oxide Fuel Cells (SOFC) and Direct Methanol Fuel Cells (DMFC). There has been a rising trend witnessed in their installations and adoption in various application areas. We have found that PEMFC and DMFC are primarily used for portable applications, while MCFC and SOFC are used widely for stationary purposes. Besides, DMFC’s are also used in some niche transportation sectors.
From the applications perspective, the report has broadly categorized the applications of fuel cells for portable, transportation and stationary purposes. The portable segment has emerged as the key power source owing to the current limitations of batteries and generators in terms of efficiency and emissions.
The report has given the global overview of the fuel cell industry and has placed special focus on the developments taking place in various countries in terms of the units manufactured and the investments being made in those countries for research purposes. On the basis of our research and thorough analysis, we foresee Japan, North America and Europe to emerge as the major markets for the fuel cell technology by 2010.
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