Increasing Investments, Adoption of Cleaner Fuels and Government Initiatives Propelling the Growth of United States Fuel Cell Market


North American region is the second largest revenue generating region in global fuel cell market after Asia-Pacific. The growth of North American region is primarily dependent on the growing demand for fuel cells in the United States. United States accounted for more than 60% of North American Fuel cell market. Companies such as Fuel Cell Energy, Ballard and Plug Power are contributing majorly for the growth of fuel cells market in United Sates.

According to 6Wresearch, United States Fuel cell market is projected to reach $1.42 billion by 2019. Proton Exchange Membrane Fuel Cell (PEMFC) technology occupies lion’s share in the overall market due to its ease of usage, cost efficiency and higher back up power. Though, PEMFC market is anticipated to remain dominant during 2014-19, but higher growth rates are expected from other fuel cell technology markets such as Molten Carbonate Fuel Cell (MCFC) and Direct Methanol Fuel Cell (DMFC).

The market for fuel cell is still in introductory and development stage as high cost of fuel cell technology has become a major challenge for its market penetration. However, in the coming years, market players such as Fuel Cell Energy and Hydrogenics are expected to come up with cost efficient fuel cells, with their extensive R&D investments, which would spur United States fuel cell market.

Increasing government initiatives, increasing investments and ease in trading policies have contributed for the growth of fuel cell technologies in the country. For instance, in 2013, investments in Fuel cell companies in United States accumulated to $552.3 million.

In United States Fuel cell market, portable application has accounted for major share for market revenues. In the forecast period, growth of fuel cells utility vehicles is expected to boost market. DMFC and PMFC based fuel cells would be immensely used in the utility vehicles, subsequently driving the demand for fuel cells in United States market. Additionally, the consumption of fuel cell can also be witnessed in various micro power and residential projects, which is further likely to propel the growth of fuel cell market in United States.

The report, “United States Fuel Cell Market (2014-2019)” estimates and forecasts overall United States Fuel Cell market by revenue & volume, segments the market into PEMFC, MCFC, PAFC, SOFC and DMFC by revenue, volume & application, and regions. The report also gives the insights on competitive landscape, latest market trends, drivers, restraints and opportunities.

For detailed report description and purchase options please click here:

For Further details, please contact:
sales@6wresearch.com
www.6wresearch.com
+91-9826267966

Advertisements

Author: 6wresearch- Market Intelligence Solutions

6Wresearch is the premier, one stop market intelligence and advisory center, known for its best in class business research and consulting activity. We provide industry research reports and consulting service across different industries and geographies which provide industry players an in-depth coverage and help them in decision making before investing or enter into a particular geography. Our Research Process Outsourcing (RPO) division enables our client to reduce their cost by outsourcing their research needs and focusing on their core competency. Our Business Model The prime motto of 6Wresearch is to see the exponential growth of our clients by meeting all the research requirements. 6Wresearch is pioneer in implementing 6W (what, where, when, who, when and how) model across its research cycle. We believe that exhaustive research can only be accomplished if it covers all six dimensions of research: What to invest in: What product and services is to produce to target potential market? Where to invest: Which geography to enter? When to invest: When is the right time to enter to the market? Whom to target: Who is your target consumer and buyers? Why to invest: What growth and opportunity the target market is offering? How to invest: What is the right strategy to enter the target market? Our integrated survey based model enable us to deliver real insights from key industry players which enable our clients to acquaint themselves with key industry trends & developments and devise various strategies for growth. Our Core Beliefs/Values 6Wresearch values its client and believes in maintaining long term relationship with them by providing high quality research solutions. 6Wresearch maintains its core beliefs and values by complementing Commitment towards standards, ethics and integrity, Ensuring client satisfaction, Maintaining full transparency. To find details on our members and associates please go to our directory of members.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s