A new report says that by the year 2020, the fuel cell vehicle market will see growth.
CNET’s Green Tech blog says the Pike Research report, entitled “Fuel Cell Vehicles,” says the green transportation is very close to being a commercial success:
The U.S. is predicted to be the largest fuel cell vehicle (FCV) market with about 134,000 vehicles sold annually, followed by China (about 129,000 FCVs), and Germany (about 127,000 FCVs).
A total of about 670,000 fuel cell light vehicles are predicted to be sold annually around the world by 2020.
Transit buses are expected to lead the market with Pike Research forecasting “sales growing at a compound annual growth rate of 31.7 percent by 2015.”
Pike Research reasons that over the next 10 years the technology surrounding alternative fuel vehicles will become standardized, more hydrogen refueling stations will become available, and fuel cells themselves will become less expensive. This confluence of events which is predicted to happen within the next 10 years, should lead to an increased adoption, according to Pike Research.
The article goes on to say that the noncompetitive nature of fuel cell development and emerging standards for refueling and tank components is helping drive wider adoption of the technology. Department of Energy grants and corporate sponsorship of pilot programs for hydrogen fuel cell transit buses are also propping up fuel cell technology.
0 responses to “Report Says Fuel Cell Vehicles to Get Hot by 2020”
Who says that the hydrogen economy is 50 years out? It looks like it is right around the corner.