Hydrogen is environmentally friendly. Hydrogen, it is
believed by scientists, can one day economically replace oil and natural gas as
the world's primary energy source. A long-term aim of the governments of North
America, Europe, Japan, and other Asian nations is to develop hydrogen energy
economies. The U.S. Department of Energy has identified hydrogen storage and
production as a priority for research and development. Billions of dollars a
year will be spent to make a hydrogen economy practical. |
Hydrogen used in fuel
cells will be used to create electricity for industrial, commercial, and
residential buildings and to power transportation. Stored hydrogen will compete
with batteries and other portable power sources in capacities ranging from one
watt to kilowatts.
According to a recently published report from Business Communications Company, Inc. (www.bccresearch.com) RE-107 Hydrogen Generation
for Fuel Cells, the worldwide hydrogen generation, storage and
delivery device market is currently estimated at $702 million. The market is
expected to reach nearly $1.5 billion as it grows at an average annual growth
rate of 15.8% through 2008.
Vehicle and stationary hydrogen delivery are expected to
dominate the market sometime after 2010, but prior to 2010, R&D dollars will
sustain the industry, though small portable fuel cells may gain earlier market
Devices for stationary electric generation are expected to
become commercial over the next five years as they move from the laboratory and
pilot production lines into full commercial production. Today the stationary
market is estimated to be about 66% of the total hydrogen delivery device
Transportation will be 35% of the market for the hydrogen
delivery device market in 2008, up from 28% in 2003. The portable market is
reflective of the research market for these devices as only a few companies are
offering fuel cells for hand held devices though many dollars are being spent.
Portable fueling systems were valued at about $39 million in 2003 growing to
$81.3 million in 2008.
The value of hydrogen production, storage, and
dispensing devices for fuel cell purposes is expected to grow in the high
double-digit range from a base of $321 million in 2002, mostly in research
spending and from the sales of beta model commercial units. An increase in U.S.,
European, and Japanese research and demonstration spending more than doubled
that in 2003 to $780 million. Costs remain high due to a lack of mass
production, which is expected to move into a higher gear in the near term. Many
companies will continue to research and improve the devices. The market for the
application of these devices in the stationary, vehicle and portable markets is
expected to exceed $1.6 billion in 2008.
Fuel cell advocates proclaim
the technology as one of the most momentous leaps forward of the era. Most of
those visions, however, have yet to materialize. With the most recent
developments in materials, size, and cost structure-making affordable,
renewable, nonpolluting power a realistic option for a myriad of
applications-the potential of fuel cells seems clearly large.
Global Hydrogen Generation, Storage and Delivery Device Value by Energy
Application, Through 2008
($ Millions including R&D)
BUSINESS COMMUNICATIONS COMPANY,
INC., 25 Van Zant Street, Norwalk, CT 06855, Telephone: (203) 853-4266;
ext. 309, Email: firstname.lastname@example.org  :Source and publisher.