Noida, UP -- (SBWire) -- 04/24/2011 -- According to our new research report “Fuel Cell Industry Analysis”, the global fuel cell industry has been witnessing a continuous growth for the past few years. It is a fast emerging clean energy sector that offers significant growth potential in segments, such as stationary, portable, and transportation. In terms of value, the fuel cell market reached to an estimated US$ 2.6 Billion in 2010, from US$ 850 Million during 2009. Factors, such as government support, rise of fast emerging countries & applications are further likely to boost the global fuel cell market. Thus, the market is anticipated to reach US$ 4.2 Billion by 2012 end.
Our report has found that, the Korean fuel cell market is one of the fastest growing sectors. The government is providing full support (in terms of funds) for the R&D, AND demonstration and deployment of fuel cell technologies. This funding is mainly focused on the development of fuel cell vehicles and residential cogeneration applications, which together account for majority of the total R&D budget. It is expected that, the fuel cell installations in Korea will increase from around 100-200 installation annually from 2010 to around 1,000 installation by 2013 end.
The report “Fuel Cell Industry Analysis” covers all the important aspects of the fuel cell market and broadly analyzes the industry in terms of key application areas, and research & development efforts. The report also provides country level developments regarding fuel cell market and investigates market potential in countries, such as the US, Canada, Korea, Japan, India, and others. Moreover, patent review at the global level has been provided in the report that will enhance the knowledge portfolio of concerned clients.
The report is an outcome of an extensive research and in-depth analysis of the global fuel cell market that makes use of reliable statistics and effective presentation to show valid information. The forecast in the report takes help of methods and techniques with proper base, which seek to present a realistic outlook. Last though not the least, coverage of key market players completes the overall analysis.
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About RNCOS
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.
Korea to Drive the Global Fuel Cell Market
Backed by the strong government support and high investments, the global fuel cell market will be worth US$ 4.2 Billion by 2012, RNCOS acknowledged.