Fuel Cell Technology Market would be worth $2.5 Billion By 2018. April 2014 | Page 2

increased power backup and household demand. Telecom, automobile and power backup industry acts as the parent market of fuel cell industry. Its growth and demand is highly influenced by the parent market. Off grid applications like providing backup power for telecommunication infrastructure is provided by the fuel cells. For stationary applications use of Solid Oxide Fuel Cell (SOFC) and Molten Carbonate Fuel Cell (MCFC) will grow more than PEMFC. Hydrogen leads as a primary fuel for fuel cell technology Hydrogen is the largest primary fuel source for the fuel cells across the globe with more than half of the market share. On the other hand, Natural gas/Methane and Methanol are gaining a sharp focus as a renewable energy generation source. North America and Asia represents a huge potential in terms of hydrogen as a fuel. Fuel cell companies are continuously trying to develop technologies in order to provide a more cost effective catalyst, which in turn helps them to commercialize and launch products in market. On account of hydrogen & fuel cell technology infrastructure development for storage & distribution, the fuel cell market will experience a tremendous increase in demand in the years to come. About MarketsandMarkets MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. Contact: Mr. Rohan North - Dominion Plaza, 17304,Preston Road, Suite 800, Dallas, TX 75252 Tel: [phone] Email: [email protected]