Fuel Cell Report Sees Explosive Growth from 2007 to 2013

Dublin, Ireland [RenewableEnergyAccess.com] While vehicles powered by fuel cells, and people in-tune with the research of and market for hydrogen meet in Washington, D.C. for the industry’s major national conference, the market reporting company Research and Markets of Ireland has released their forecasts for the fuel cell economy. “Fuel Cell Transportation Market Opportunities, Strategies, and Forecasts, 2007 to 2013” highlights the areas of fuel cell development that the industry should pay attention to, according to the company.

Infrastructure, for both the hydrogen economy and the development of efficient and cost competitive fuel cells, ranked high in the report as areas that will help bring fuel cell vehicles into the mainstream market. “A hydrogen economy is a challenge that transcends the ability of industry and depends on governments to deliver necessary infrastructure. The capacity of the individual, major stakeholders is limited to providing components of the fuel cell and hydrogen economy,” Research and Markets stated in a summary of the report. Growth projected in the report speculates that the cost of a new infrastructure for hydrogen fueling stations that cater to commercial fuel cell vehicles would skyrocket from an initial cost of $2 billion per year to $21 billion per year by 2010. Market growth depends on $5 billion infrastructure investment in local hydrogen manufacture for fuel cells. Total vehicle fuel cell markets for autos could start at $772.7 million in 2007, and grow to $98 billion by 2013, based on the report’s projections. Research and Markets profiled 21 companies involved in fuel cell research and development, including: Ballard, Hydrogenics, Plug Power, General Motors and Avista Labs, among others.