RNCOS, a market analysis company, has evaluated the development of the fuel cell industry and recently published a research report called “Fuel Cell Industry Analysis.” The report says that the global fuel cell industry will sustain its development trend in the near future.
Factors that will drive the development will be the huge market potential, the eco-friendliness of fuel cells and their impact on air quality, reducing the dependence on foreign oil.
As numerous companies already have plans to release fuel cell vehicles by 2012 and 2013, the demand for fuel cells is expected to grow at a 68% annual growing rate during the next few years. Also, the telecom sector is seeing massive realigning of the mobile units’ energy sources, making it a profitable niche for fuel cells.
Until now, governments have offered subsidies for helping the hydrogen economy become a reality. Countries such as the US, the UK, Germany, Denmark and South Korea have encouraged the fuel cell R&D sector develop.
The increase in demand will surely drive a decrease in price, which will impact the acceptance of fuel cells by low-end users, making it easier for them to choose an FCV (fuel cell vehicle) over a gasoline-powered one, for example.