Stringent Environmental Legislation Will Drive Use of Fuel Cells in Next Five Years

Dec. 20, 2007 - PRLog -- Report Buyer, the online destination for business intelligence, has added a new report showing that the global market for non-reactive components for fuel cell balance-of-plant is expected to be worth $138 million in 2007.  This is expected to increase to over $326 million by 2012, a compound average annual growth rate (CAGR) of 18.8%.

“Demand For Nonreactive Components for Fuel Cell Balance of Plant”, available from http://www.reportbuyer.com/go/BCC00172, reports that although demand for non-reactive components for fuel cell balance-of-plant will continue to increase over the forecast period, the percentage penetration will reduce from 8.3% in 2007 to 2.5% in 2012. This is because the global fuel cell market will reach $13 billion in 2012, from $1.7 billion in 2007, a CAGR of 50%.

The report shows that materials and instrument suppliers are positioning themselves early to gain a competitive edge in the rapidly growing development of fuel cell technology. Interest in this market among non-reactive balance of plant component suppliers has intensified as this industry promises to be the next dramatic growth platform for materials usage.

End uses targeted for fuel cell development include automotive, portable power, home power generation, community power generation, as well as other transportation and stationary power supply sources. The use of improved balance of plant components will continue to increase for facilitating the commercialization of fuel cells.

Authors of the report say the use of fuel cells will make some significant progress in the next five years to 2012 as even more stringent environmental legislation is enforced. Keeping the air clean and promoting energy security will be two key priorities for policymakers over this period. Higher-purity transportation fuels will become mandatory and harmful chemical emissions will be drastically cut making fuel cells more appealing.

“Demand For Nonreactive Components for Fuel Cell Balance of Plant” is available from Report Buyer. For more information go to: http://www.reportbuyer.com/energy_utilities/alternative_e...

Report Buyer product ID: BCC00172

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