The diversification of energy portfolio to achieve energy security and commercialization of fuel cells by upcoming cost effective fuel cells through technological innovations to drive the Europe fuel cell market in the future
The fuel cell market is an intensive technologically driven sector, a purely market driven approach alone cannot set the mode for deployment of this innovation based sector. The introduction of new clean technologies to replace mature existing applications is a slow and costly process that will not be facilitated by the market on its own. Since, the case for a change in commercial feasibility is driven by political and societal aspirations as opposed to market indicators, thereby during the transition period, the initial investment cost and risks for private players are immense. Germany, the UK and Denmark have been dominating the fuel cells market in Europe.
The Europe fuel cell market has continued to evolve through developments in stationary fuel cells focused on telecommunications backup power segment as it is getting a lot of interests from around the world. In early 2013, M&A activities had been at the mainstay of fuel cell market in Europe. The fuel cell related announcements in the automotive industry with Toyota and BMW jointly agreeing to develop fuel cells for leveraging greater economies of scale. Through M&A, company acquired competitor’s intellectual property to accelerate product development, opened new markets and overcome technological issues. The fuel cell shipments volume in Europe had witnessed astonishing growth at a substantial CAGR of 12.7% during the period 2008-2013.
“The increasing environmental concerns, diversification of energy portfolio to achieve energy security have augmented the fuel cells market in Europe. Cost reduction program is being implemented through technological innovations in order to maximize fuel cell product margins. Fuel Cell can be a great energy source for delivering energy access to remote locations as it can also cover those urban regions where electricity transmission lines can’t reach, thus providing an alternative for power source. The fuel cell application for industries is augmented to grow rapidly due to ever increasing demand from this sector in the years to come - According to the Research Analyst, Ken Research.
The report titled “Europe Fuel Cell MarketOutlook to 2018- Integration of Hydrogen in Fuel Cells to Drive Commercialization” provides detailed overview on fuel cell market in Europe and helps reader to identify the ongoing trends and developments in the fuel cell industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, fuel cell manufacturing companies, marketing companies, consumers and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.