Noida, UP -- (ReleaseWire) -- 07/21/2014 -- Fuel Cell 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. Among all, application of fuel cells as backup power systems in the telecom market is gaining huge popularity in US now-a-days due to its longer life than their battery counterparts and a lot less weight. Further, following the lead of major telecommunications companies in the US, there has been a recent surge in orders, sales and deployments of fuel cells in international markets, such as in Latin America, the Caribbean, Indonesia, India, the Middle Middle-East, Africa, Japan and China.
As per our report “Fuel Cell Market Outlook 2020”, the Global 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. Furthermore, a lot of research work is going on around the world to ensure fast and widespread commercialization of the technology and to increase its application in various industries. 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.
Our report 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. 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.
Additionally, our research includes analysis of the major research and developments done and patents granted in fuel cell industry globally. 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. Also, we have enclosed the key financial information and recent activities by these players to build up position in the fuel cell market. In all, the report presents a comprehensive glance at the sector’s past, present, and future scenario.
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