North American Fuel Cell Technology Market Worth $667.7 Million by 2018
DALLAS, June 25, 2013 /PRNewswire/ --
The report "North America Fuel Cell Technology Market: By Applications (Portable, Stationary, Transport), Types (PEMFC, DMFC, PAFC, SOFC, MCFC), Fuel (Hydrogen, Natural Gas, Methanol, Anaerobic Digester Gas) & Geography- Trends And Forecast To 2018", defines and segments the North American fuel cell market with analysis and forecast of the revenue. Fuel cell market will grow from an estimated $157.1 million in 2013 to $667.7 million by 2018, with a CAGR of 33.6% from 2013 to 2018.
- 90 Market Data Tables
- 24 Figures
- 168 Pages and an in-depth Table of Content on "North America Fuel Cell Technology Market"
Early buyers will receive 10% customization on this report.
The U.S. market is driven by governmental incentives, without which fuel cells cannot come into the market at the present cost. According to Department of Energy (DOE) forecasts, fuel cell technology will be competitive with other options in terms of cost by 2018. The U.S. and especially California has been the center of all fuel cell demonstration projects. Other major states involved are Connecticut, New York, Ohio, and South Carolina.
Stationary Market: Biggest Market by Applications
In the current North American Fuel Cell Technology Market, the stationary applications are the key application on the basis of market size and revenues. The demand is projected to increase heavily due to the increased power backup and household demand. Telecom, automobile and power backup industry acts as the parent market of 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. For stationary applications use of Solid Oxide Fuel Cell (SOFC) and Molten Carbonate Fuel Cell (MCFC) will grow more than PEMFC.
Hydrogen Leads as a Primary Fuel for Fuel Cell Technology
Hydrogen is the largest primary fuel source for the fuel cells across the globe 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. North America represents 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 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.
Buy a copy of this Report http://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=1199
Browse related reports to Energy and PowerMarket http://www.marketsandmarkets.com/energy-power-supplies-market-research-4.html
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals; including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, telecommunications and IT, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductors and electronics, healthcare information technology, aerospace & defense.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza
17304 Preston Road
Suite 800, Dallas, TX 75252
Visit MarketsandMarkets Blog http://www.marketsandmarketsblog.com
Connect with us on LinkedIn http://www.linkedin.com/company/marketsandmarkets
More by this Source
Water Soluble Fertilizers Market worth $ 14,709.4 Million by 2018
Dec 09, 2013, 09:15 ET
Video On Demand (VOD) Market Worth $45.25 Billion by 2018
Dec 06, 2013, 08:30 ET
3D Printing Materials Market worth $408.5 Million by 2018
Dec 06, 2013, 06:30 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.