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Fuel Cell Market: Powered by Research & Development
Jul 14, 2006
The Year 2005 saw steady increase in investments in research and development related to fuel cell vehicle technology, with U.S companies contributing major chunks of investments. Worldwide spending on fuel cell R&D activities in 2003 and 2004 stood at $659 Mn and $716 Mn respectively, an increase of 9% over the previous year.
The fuel cell market is expected to exceed $19 Bn by 2013, and has the potential to hit nearly $36 Bn within that time. While the market for fuel cell technology is still in the developing phase, manufacturers have recently been targeting residential and simple stationary applications.
R&D projects are aimed at advancing fuel cell vehicle technology and accelerating the process of commercialization. The research programs are applied to different strategic areas, crutial for reliable and safe technology applications.
The research report on fuel cell technology, "Market for Fuel Cell Technology (2006-2007)” prepared by RNCOS, India-based Research and Consultancy services firm, explains that Germany is one of the leading European country that is gradually becoming a hub of fuel cell R&D activities. In 2004, the German economy directed a total of $72 Mn into fuel cell R&D, representing approximately 10% share of the global fuel cell R&D activities.
The report deals with certain critical issues associated with the fuel cell market. It focuses on the following:
- The significant features of fuel cell vehicle technology.
- The current status of fuel Cell industry.
- The Automotive Hydrogen Infrastructure.
- The countries investing in R&D for fuel cell industry.
- The Government initiatives for growth of business.
- Competitive advantage of companies operating different fuel cell projects.
RNCOS’ market research report "Market for Fuel Cell Technology (2006-2007)" gives a detailed overview of the global fuel cell industry. This report will aid businesses and academics interested in acquainting themselves with the developments and opportunities in fuel cell vehicle market.
For more information visit: http://www.rncos.com/Report/IM046.htm
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