Fuel cell technology, which is yet to be commercialized, is expected to become one of the highest-used alternative sources of emission-free energy, says RNCOS report.
According to a new market research report “Fuel Cell Industry Analysis” by RNCOS, the fuel cell technology, which is yet to be released for commercial use, will become one of the largest used alternative sources of eco-friendly energy.
The report reveals that due to increased government support, rapid growth can be witnessed in fuel cell industry worldwide. Various countries are initiating high profile fuel cell projects and are reforming their emission legislation to fuel growth in the industry.
Automobile sector provides high growth opportunities to the players in fuel cell industry. Fuel Cell Vehicles (FCVs) offer multiple advantages over those run on gasoline as they provide for various technological improvements in traditional power trains. For instance, gasoline and gasoline hybrid vehicles have MPG ratios of 1 and 1.7 respectively, while hydrogen FCVs have the ratio of 2.8. Also, the energy efficiency of fuel cells, at the present development stage, is about 30%, whereas energy efficiency of gasoline vehicles is nearly 15-20%. Hence, high energy efficiency will also drive the success of FCVs.
Furthermore, there is no moving part in FCVs and thus, they require less maintenance and are more reliable as compared to Internal Combustion Engines (ICEs). Also, zero vehicle operations in FCVs lead to less carbon dioxide emission than ICES, further pushing growth in the fuel cell technology.
“Fuel Cell Industry Analysis” provides rational and updated overview of the worldwide fuel cell industry. It provides complete analysis on the growing global and regional fuel cell markets, market trends, technologies and applications. It also provides forecast on the shipments of various types of fuel cells, like MCFC and PEFC, and fuel cell market by application. The forecast provided in the report is based on correlation between past and current growth drivers of the fuel cell industry.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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