Europe Fuel Cell Technology Market Worth $613.7 Million by 2018

DALLAS, June 27, 2013 /PRNewswire/ --

The Report "Europe Fuel Cell Technology Market: By Applications (Portable, Stationary, Transport), Types (PEMFC, DMFC, PAFC, SOFC, MCFC), Fuel (Hydrogen, Natural Gas, Methanol, Anaerobic Digester Gas) & Geography- European Trends and Forecast to 2018" defines and segments the European fuel cell market with analysis and forecast of the revenue. The fuel cell market will grow from an estimated $150.4 million in 2013 to $613.7 million by 2018, at a CAGR of 32.5% from 2013 to 2018.

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European Market: Fuel Cell Technology grows on combined efforts of universities, governments and private players

Germany is the leading country in the European Fuel Cell Technology Market. Many universities, research institutes and companies are involved in the fuel cell business, both in R&D and commercializing the market. After Germany U.K. is the most active country in terms of hydrogen and fuel cell technology. The Government of U.K. has launched a 'renewable heat incentive' which includes provisions for CHP units and aerobic digestion to produce biogas for heat production. It also runs a money-back feed-in tariff (FIT) for household fuel cell installations for encouraging the demand for fuel cells.

Market Demand: Household, Telecom and Backup Applications dominates Market Demand 

In the current European fuel cell technology market, the stationary household, telecom and backup applications dominate market demand on the basis of market size and revenues. The demand is projected to increase heavily due to the increased power backup and household demand. The telecom, automobile and power backup industry acts as the parent market of the fuel cell industry. Its growth and demand is highly influenced by the parent market. Off grid applications like providing backup power for telecommunication infrastructure is provided by the fuel cells. Stationary fuels cells are used for these applications and have already been commercialized, thus demand is further expected to rise owing to this commercialization.

Increase in Hydrogen as a Primary Fuel: Key for Fuel Cell Growth

Hydrogen is the largest primary fuel source for the fuel cells across Europe with more than half of the market share. On the other hand, Natural gas/Methane and Methanol are gaining a sharp focus as a renewable energy generation source. Germany and U.K. represent a huge potential in terms of hydrogen as a fuel. Fuel cell companies are continuously trying to develop technologies in order to provide a more cost effective catalyst, which in turn helps them to commercialize and launch products in the market. On account of hydrogen & fuel cell technology infrastructure development for storage & distribution, the fuel cell market will experience a tremendous increase in demand in the years to come.

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