Global Fuel Cell market is anticipated to grow at a CAGR of around 22% during the forecast period 2014-2020 says RNCOS in its latest research report.
Noida, UP -- (SBWIRE) -- 04/30/2015 -- Fuel Cell market is on the verge of becoming the new frontier with many companies already active in this space and many more start ups moving towards the new technology. Many auto manufacturers have been doing lot of research and development on hydrogen fuel-cell vehicles as the technology helps in producing zero-emission cars that have the potential to cut pollution and reduce the world's reliance on oil for transportation. Further, to speed up the fuel cell development, some of the automakers have decided to work together with other automakers, fuel cell companies and research institutions on the development of this technology. This will also bring down cost of producing fuel cells at a more affordable cost to customers. With this declining cost of fuel cells with increasing efficiency would bring a paradigm shift in the adoption of fuel cell technology.
As per our analysis, the Global Fuel Cell market, although at a nascent stage at present, is expected to mature considerably well in the coming years. The technology is gaining worldwide acceptance due to its high efficiency over other energy sources and it is expected to become the best replacement for conventional energy sources. Furthermore, a lot of research work is going on around the world to ensure fast and widespread commercialization of the technology. Considering the above factors, the global fuel cell market is projected to grow at a CAGR of around 22% during the forecast period 2014-2020.
The report "Fuel Cell Market Outlook 2020", by RNCOS spread over 145 pages provides an in-depth research and rational analysis of the current status and future growth prospects of the fuel cell market on globe. Our research includes profound study of the market by type, application and region. Besides that, the report exhibits the emerging trends and global research and developments taking place in the industry that are boosting the fuel cell market growth.
Additionally, to provide a comprehensive view and in-depth study of major fuel cell market has been covered in the report that includes countries such as US, UK, Japan, China, Germany, India etc. This section covers fuel cell market in both value and volume terms in each of these countries till 2020. In addition to that, we have covered the patent reviews on the global level for the fuel cell market.
Further, through the section of key players, we have tried to provide the insight of current market scenario and existing competition to our customers. Moreover, we have also covered the key financial and recent activities by these players to build up position in the fuel cell market. As a whole, the report presents a comprehensive look at the sector's past, present, and future scenario.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.