Fuel Cells: A Global Strategic Business report
San Jose, California (Vocus) June 8, 2010
In an increasingly energy hungry world, poised to gain are technologies that are efficient and environmentally sustainable. Against this backdrop and given the many environmentally friendly credentials, fuel cell technologies are attractively positioned to score the maximum gains. The revolutionizing impact of fuel cells comes optimally timed to help meet the forecasted mind-bending rise in energy consumption. The liberalization of retail electricity, utility infrastructure restructuring, and changing public environmental policies are factors that extend fuel cells a thumbs up. Decades of refining technology developments have helped steadily expand the application areas of fuel cells from powering simple electronic gadgets to hybrid automobiles to its use in load leveling in the field of energy/electricity generation.
In the future, breakthrough advancements in fuel cell technology will help expand applications in traditionally difficult application sectors, such as, in transportation/automobiles (fuel-cell-powered vehicle), military and defense, utility-power, and remote, premium and portable power applications. As centralized energy grids creak under the overload of demand surges and modern cities choke on vehicular emissions, energy generation and the automotive industry are poised to emerge into promising application areas for fuel cells of the future. The future of fuel cell technologies and their wide-scale commercialization hinge onto the ability of manufacturers/vendors to offer fuel cell solutions that are reliable, durable and mostly importantly commercially profitable.
The global fuel cells market has been relatively unfazed by the recent economic slowdown. Despite the general decline in innovation, investments in fuel cell technologies have held their ground. Reflective of the fact is the 20% rise in patent filing for fuel cells and hybrid/electric vehicles in the United States in the year 2009. Number of patents filed for fuel cells was the highest, among comparable clean technologies like wind, and biomass/biofuel energy. Despite tighter financial resources, and low consumer/business confidence, interest in alternative energy technologies among venture capitalists is still strong. With the more pressing need of the hour being development of alternate, green energy sources, as the world marches into an inevitable energy crisis, temporary economic slowdowns are not expected to derail long-term goals, and prospects of fuel cell technologies. Given the numerous environmental benefits of fuel cells, the technology stands a fair chance of featuring among the major alternative sources of generating environment friendly energy. Strong support extended by governments the world over, increased R&D funding for fuel cell research projects, reformation in emission legislations, and ensuing boost given to high profile fuel cell projects, will be the factors driving growth in this industry.
As stated by the new market research report on fuel cells market, the proton exchange membrane fuel cells market is the largest market segment, having contributed a share of about 63.9% in the total revenue generated for the year 2009. The molten carbonate fuel cells market is another prominent segment displaying a CAGR of about 29% over the analysis period 2007-2015. Developed markets including the US, Europe, Japan and Canada accounted for a whooping 85% by revenue generated from fuel cells in the year 2009, and the regions are expected to retain their position as major driving forces for the market, through 2015
Key players in the marketplace include Acumentrics Corp., Ansaldo Fuel Cells SpA, Areva Group, Ballard Power Systems Inc., Ceramic Fuel Cells Ltd., Fuel Cell Energy Inc., Hydrogenics Corporation, IdaTech LLC, Jadoo Power, Mitsubishi Heavy Industries Ltd., MKU Canada Inc., MTI MicroFuel Cells Inc., MTU Onsite Energy GmbH, Nuvera Fuel Cells Inc., Plug Power Inc., Proton Energy Systems Inc., ReliOn Inc., SFC Smart Fuel Cell AG, Siemens Power Generation Inc., Teledyne Energy Systems Inc., and UTC Power, among others.
The report titled “Fuel Cells: A Global Strategic Business report” announced by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, product overview, product introductions/innovations, profiles of major players, and recent industry activity. The report provides market estimates and projections in terms of value for regions including US, Canada, Japan. Europe, and Rest of World, across product market verticals that include Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells, among others.
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About Global Industry Analysts, Inc.
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