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WORLD FUEL CELL PRODUCTS & SYSTEMS MARKET WILL ADVANCE MORE THAN 28% ANNUALLY THROUGH THE YEAR 2005.

The world market for fuel cell products and systems -- including spending on research and product development, prototyping, test marketing, demonstration programs, etc., as well as commercial product sales -- will more than triple through 2005 to $8.5 billion, and exceed $23 billion by 2010. As fuel cells attain commercial viability in increasing numbers of applications, product sales will account for a steadily rising share of the total market. This is in contrast to the existing and historical market, which has consisted almost entirely of pre-commercialization activity. Fuel cells are receiving an extensive amount of investigation worldwide, due to their inherent nature as a low-polluting, high efficiency energy source. Promoting market gains will be steady improvements in fuel cell performance accompanied by further reductions in costs. However, even if 2010 forecasts are met, fuel cells will be far from realizing their full commercial potential, which will likely unfold throughout the first half of the new century. These and other trends are presented in World Fuel Cells, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.

Most fuel cell demand will occur in the advanced nations of the industrialized world, at least initially, although developing countries with deficient centralized power grids will comprise an important early market for fuel cell-based electric power generation systems. As of the turn of the millennium, the US, Japan, Germany, Canada and the UK were the countries most actively investigating fuel cell technology in terms of overall spending.

Electricity generation applications at present appear closest to achieving large-scale commercialization, due to energy supply shortages in some areas, somewhat less challenging cost hurdles (especially relative to automotive applications) and shortcomings in grid-based power systems in many developing countries. Fuel cells for powering high-drain wireless electronic devices such as portable computers and mobile phones are expected to appear over the next couple of years as well, following extensive product development activity. Large-scale use of fuel cells in motor vehicles may be delayed until well into the present decade, however, in light of substantial cost and technical hurdles. Other potential applications include industrial stationary and motive power systems (such as backup power supplies and in-plant vehicles); and aerospace equipment, where they have already been extensively used as a power source on space vehicles.
WORLD FUEL CELL MARKET

(million US dollars)

 % Annual Growth
Item 1995 2000 2005 00/95 05/00

Fuel Cell Market 1205 2440 8500 15.2 28.4
 United States 355 720 2500 15.2 28.3
 Canada & Mexico 45 150 575 27.2 30.8
 Western Europe 310 600 2300 14.1 30.8
 Japan 360 675 1950 13.4 23.6
 Other Asia/Pacific 75 195 750 21.1 30.9
 Rest of World 60 100 425 10.8 33.6

Freedonia Group, Inc. (Cleveland, OH)



World Fuel Cells (published 4/2001, 316 pages) is available for $4,700 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 646.0484 or e-mail pr@freedoniagroup.com. Information may also be obtained through www.freedoniagroup.com.
COPYRIGHT 2001 Subscription: $00.00 per year as of 1/94. Published irregularly. Contact Freedonia Group, 3570 Warrensville Cente
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

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Comment:WORLD FUEL CELL PRODUCTS & SYSTEMS MARKET WILL ADVANCE MORE THAN 28% ANNUALLY THROUGH THE YEAR 2005.
Publication:Research Studies - Freedonia Group
Geographic Code:00WOR
Date:May 24, 2001
Words:518
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