Sep 17 2010
MarketResearch.com has announced the addition of SBI Energy’s new report “Fuel Cell Technologies Worldwide.”
http://www.marketresearch.com/product/display.asp?xs=r&productid=2625062
The exciting and dynamic market for fuel cell technologies has emerged as an international heavyweight with the potential to reshape how energy is produced and used for residential and commercial consumption, transportation, and electronic devices, according to SBI Energy’s new industry study “Fuel Cell Technologies Worldwide.”
The fuel cell market is forecast to reach $598 million in 2010 and then grow to $1.22 billion by 2014, with a compound annual growth rate (CAGR) of 20% that continues the vigorous growth experienced over the past few years. SBI Energy research estimates that the market grew from $353 million in 2005 to $498 million in 2009. Japan and the United States represented the two largest financial segments of the market last year.
Industry experts offer a wide range of predictions about which sectors will win the lion’s share of the fuel cell market in the coming years. Some believe fuel cell cars will be widely available to buyers by 2015, while others are more skeptical and believe it will be at least 2030 before they are a common sight on the road. Likewise, some industry watchers believe fuel cell powered automobiles will eventually dominate the market, while others believe fuel cell cars will be just one of many viable options.
The portable sector is the fastest growing market, but much of that current growth is due to toys and educational devices powered by low-watt fuel cells. Several companies, including Horizon Fuel Cell Technologies and Thames & Kosmos, have developed fuel cell car kits that allow children to assemble the car while learning the science behind fuel cell technology. Other products include remote-control toys powered by fuel cells.
However, the largest demand for fuel cells is currently for power generation units, which promise a greener energy source and a reduced dependence on foreign oil. “Commercial and public entities will likely lead the way in adopting fuel cell power sources, as these bodies are ever more aware of the economic and political advantages of adopting renewable energy sources,” says SBI Energy publisher Shelley Carr.