While fuel cells are a technology that has been known to scientists for almost 200 years, in the modern world, they represent an innovative source of energy. Fuel cells are favored as a “green” technology for their low emissions, quiet operation and high efficiency. They can be fed by fuels that are readily available, including biofuels, thus reducing reliance on foreign oil and an electric grid that is aging and in many places pushed beyond capacity.
The great appeal of fuel cells is that they can operate continuously as long as the necessary flows of fuel and oxygen are maintained, and they produce only water as a byproduct, rather than being a source of pollution.
Fuel cells have shown vigorous growth in the past few years. SBI Energy research finds that the market grew from $420 million in 2007 to $775 million in 2012. We forecast global sales will reach $4.2 billion by 2017 and continue this growth trend to reach $14.1 billion by 2022.
Much of the early growth optimism for the future of the industry was driven by U.S. and other government investment. However, early expectations of a quick, low-cost source of alternative energy were dampened by the realities of lengthy product development cycles, combined with the growing acceptance of alternative energy technologies such as wind and solar. The high profile bankruptcy of several renewable energy-focused recipients of government funds—including fuel cell manufacturer A123 Systems—prompted many lawmakers to rethink large-scale government investments in private sector fuel cell technology development. As the new US administration pulls back from aggressive investment in the technology, some observers are now questioning how quickly fuel cells can achieve widespread commercialization. As a consequence, fuel cells are in a race with other alternative energy technologies such as solar and wind for widespread acceptance.
In this dynamic and rapidly changing marketplace, SBI’s new report, Fuel Cell Technologies Worldwide, provides clear guidance and insight on various technologies and end-use markets. The report presents the historic growth (2007 – 2012) and growth potential (2012-2022) of the global market for fuel cells and various fuel cell technologies currently used. Market size and growth is broken out by major country and by region of the world. The report segments the market by technology (type of fuel cell as defined by the electrolyte used), and application (stationary power, portable electronics, motor vehicles, backup power supplies, military & aerospace, and others), and provides detailed profiles of companies that are leading the way in the industry.
The information in Fuel Cell Technologies Worldwide is based on interviews with industry leaders and fuel cell researchers, as well as primary and secondary data from industry sources such as Fuel Cell 2000, Fuel Cell Today, and the US Fuel Cell Council. Our research also included company literature and websites, news reports and research services such as OneSource.
What You’ll Get in This Report
Through extensive research by SBI Energy, Fuel Cell Technologies Worldwide identifies current market drivers and trends, and makes important predictions about the future of this market. In addition, this report pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones.
No other market research report provides both the comprehensive analysis and extensive data that Fuel Cell Technologies Worldwide offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.