Fuel cell market forecasts
Independent market studies on fuel cells forecast average annual growth rates of 40-60% in fuel cell-propelled transport over the next decade. The European fuel cell vehicle market should reach €16.3 billion by 2020, and €52 billion by 2040. As for power plants and energy production, Europe and the US will need to replace and reinforce their energy generation capacity. This includes micro-generators powering home appliances and remote regions. However fuel cell marketing still has substantial technical and socio-economic barriers to overcome, such as the lack of hydrogen distribution infrastructures.
The need for EU action
The USA and Japan are world leaders in fuel cell research. In the US this is largely driven by defence and aerospace applications. US government support to fuel cell development includes the Freedom Car Programme (€150 million per year), and the €25-30 million SECA (Solid State Energy Conversion Alliance) programme. Japan supports fuel cell and hydrogen technology development with a 28-year programme (1993-2020) with a total budget of €2.4 billion.
EU efforts in this field are not structured and they are under-funded and fragmented. Total European public funding for fuel cell research is estimated at some €50-60 million per year, that's about one third of US funding, and one quarter of Japan's. The EU needs a coherent fuel cell and hydrogen technology strategy to aid the transition and to help the sector achieve a better cost/benefit ratio, thus making it competitive and turning fuel cells into viable market products. Issues such as fuelling, safety and common technological standards need to be addressed quickly.
Independent market studies on fuel cells forecast average annual growth rates of 40-60% in fuel cell-propelled transport over the next decade. The European fuel cell vehicle market should reach €16.3 billion by 2020, and €52 billion by 2040. As for power plants and energy production, Europe and the US will need to replace and reinforce their energy generation capacity. This includes micro-generators powering home appliances and remote regions. However fuel cell marketing still has substantial technical and socio-economic barriers to overcome, such as the lack of hydrogen distribution infrastructures.
The need for EU action
The USA and Japan are world leaders in fuel cell research. In the US this is largely driven by defence and aerospace applications. US government support to fuel cell development includes the Freedom Car Programme (€150 million per year), and the €25-30 million SECA (Solid State Energy Conversion Alliance) programme. Japan supports fuel cell and hydrogen technology development with a 28-year programme (1993-2020) with a total budget of €2.4 billion.
EU efforts in this field are not structured and they are under-funded and fragmented. Total European public funding for fuel cell research is estimated at some €50-60 million per year, that's about one third of US funding, and one quarter of Japan's. The EU needs a coherent fuel cell and hydrogen technology strategy to aid the transition and to help the sector achieve a better cost/benefit ratio, thus making it competitive and turning fuel cells into viable market products. Issues such as fuelling, safety and common technological standards need to be addressed quickly.