Noida, UP -- (ReleaseWire) -- 07/02/2014 -- Fuel Cell market is on the verge of becoming the new frontier with many companies already active in this space and many more start ups moving towards the new technology. Many auto manufacturers have been doing lot of research and development on hydrogen fuel-cell vehicles as the technology helps in producing zero-emission cars that have the potential to cut pollution and reduce the world's reliance on oil for transportation. Further, to speed up the fuel cell development, some of the automakers have decided to work together with other automakers, fuel cell companies and research institutions on the development of this technology. This will also bring down cost of producing fuel cells at a more affordable cost to customers. With this declining cost of fuel cells with increasing efficiency would bring a paradigm shift in the adoption of fuel cell technology.
As per our analysis, the Global Fuel Cell market, although at a nascent stage at present, is expected to mature considerably well in the coming years. The technology is gaining worldwide acceptance due to its high efficiency over other energy sources and it is expected to become the best replacement for conventional energy sources. Furthermore, a lot of research work is going on around the world to ensure fast and widespread commercialization of the technology. Considering the above factors, the global fuel cell market is projected to grow at a CAGR of around 22% during the forecast period 2014-2020.
The report “Fuel Cell Market Outlook 2020”, provides an exhaustive research and rational analysis of the present status and future growth prospects of the fuel cell technology market. Our research includes reflective study of the market by region, type and application in order to fetch a deep understanding of the market. Besides that, the report exhibits the emerging trends and drivers globally which are boosting the fuel cell industry growth. Additionally, our research also includes analysis of the major research and developments done and patents granted in fuel cell industry globally.
Other than that, to provide a comprehensive view, an in-depth study of major fuel cell market has been covered in the report which includes countries such as Japan, US, Germany etc. This section covers fuel cell shipment in each of these countries till 2020. Further, through the section of key players, we have attempted to provide the insight of current market set-up and existing competition to our customers. Additionally, we have also enclosed the key financial information and recent activities by these players to build up position in the SDN market. In all, the report presents a comprehensive glance at the sector’s past, present, and future scenario.
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