Fuel cells belong to the genre of emergent and promising technologies. For commercial success, fuel cells need to take significant technological strides, cost effectiveness and encouraging policy framework. Significant public-private partnerships facilitating R&D activities and investments are necessitated for meeting the expectations of new-age automobiles that are designed to be cleaner and greener.
Experts are of the opinion that by 2050 roughly around 35% of vehicles across the globe will be powered by fuel cells. This will reduce dependency on oil, saving 15% of global oil consumption that calculates to 5% of the global energy demand. As fuel cell efficiency is more than double as compared to even the most efficient combustion engines, hydrogen vehicles will run with less than 5% of the global energy consumption.
The market research report on fuel cell vehicles, "Market for Fuel Cell Technology (2006-2007)" by RNCOS highlights that in the recent years there’s an increased impetus both in technological and monetary terms in the arena of fuel cell powered automobiles. Even though, in terms of numbers the seems to be a lull in production with only a few hundred new fuel cell vehicles been introduced in the market since last year, however this is only an incomplete picture. In fact the shrinking of numbers is an evidence of increased focus on testing before the products head for the roads.
The industry report deals with certain critical issues associated with the fuel cell market. It focuses on the following:
- The significant features of fuel cell technology.
- The current status of fuel Cell market.
- The Automotive Hydrogen Infrastructure.
- The countries investing in R&D for fuel cell technology.
- 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)” offers a detailed analysis of the Global fuel cell industry highlighting the rapid developments and opportunities in fuel cell vehicle market.
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