Delhi, India (PressExposure) July 23, 2009 -- The fuel cell market has posted tremendous growth over the last few years. Our report âFuel Cell Industry Analysisâ reveals that the global shipments of fuel cell units grew at a CAGR of around 50% during 2005-2008.
This growth is largely attributed to the rise in number of installations of fuel cell units worldwide. Most of the installations of the units have been in the European region, followed by North America. These western countries have the government legislations that put the pressures for low carbon emissions. Also, they have the resources to fund for research and development in the promising areas to emerge as the creator of technology.
Our report has found that the fuel cell market holds the required potential to serve the growing needs of the economies, with the sector witnessing a lot of investments from both the domestic as well as the international players. Transportation has contributed the maximum share to the revenues of the fuel cell market, with the significant investments taking place in the developing countries, such as India and China, in 2008. However, the portables formed the largest share in terms of cumulative shipments of the fuel cell units in 2008.
The fuel cell market is still in its infancy stage. The transportation application of the fuel cell technology needs the well-laid hydrogen infrastructure, which is yet to be developed. The market is, therefore, likely to see more growth in the small stationary applications that witnessed the cumulative shipments of 11000 Units worldwide in 2008.
The report âFuel Cell Industry Analysisâ has exhaustively studied the fuel cell market on both the global as well as the country level. The report provides the insight about the market developments in various fuel cell electrolytes and their use in different fields.
The report highlights emerging countries and the opportunities at the country level for the industry to flourish, which includes government initiatives alongwith the countryâs investments in the concerned market and in the supporting infrastructure.
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