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Rising Oil Prices and Energy Security Issues Heighten Interest in Fuel Cell Electric Vehicles - Increasing oil price and growing concerns over energy security are helping accelerate the development and commercialization of fuel cell electric vehicles (FCEVs)
Rising Oil Prices and Energy Security Issues Heighten Interest in Fuel Cell Electric Vehicles

 

NewswireToday - /newswire/ - London, United Kingdom, 2008/11/17 - Increasing oil price and growing concerns over energy security are helping accelerate the development and commercialization of fuel cell electric vehicles (FCEVs).

   
 
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Federal and local governments have been proactively funding fuel cell technology and in the medium term, there would be rigorous developments in fuel cell technology, standardization of production and storage of hydrogen, and ramping up of the mammoth task of building hydrogen infrastructure.

New analysis from Frost & Sullivan (automotive.frost.com), Strategic Analysis of Global Market for Fuel Cell Electric Vehicles, finds that the global market for fuel cell electric vehicles is expected to be around 120,000 vehicles by 2015.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the strategic analysis of global market for FCEVs, then send an email to Anna Anlauft, Corporate Communications, at anna.anlauft[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

The FCEV market has just kicked off, with Honda leasing FCX to consumer fleets, and would be limited to regions that are rich in hydrogen infrastructure. Hydrogen-fuelling stations, which are expected to expand around 2015, will trigger pre commercial technology refinement and low-volume production around that time. Only post 2016 can we expect a ramp up of production, leading to mass commercialization.

“Stringent environmental regulations, increased environmental concerns among consumers, and growing tax incentives are major factors accelerating the development of FCEVs,” notes Frost & Sullivan Senior Research Analyst Anjan Hemanth Kumar. “The European Road Transport Research Advisory Council (ERTRAC) has advised 40 percent reduction in CO2 emissions for the 2020 fleet of passenger cars, which is estimated to 95 g/km of CO2 emission.”

On the incentive front, various producer and consumer tax incentives are developed for FCEVs in Japan and Europe. The U.S Government offers fuel cell motor vehicle credit of $8,000 for light-duty vehicles until 2009 and $4,000 there after. Tax credits are to be introduced when the fuel cell passenger vehicles are made available.

However, the high cost of FCEV technology, due to stacks, battery, and electric drive train, remains a significant restraint to its development. The platinum-based catalyst employed in the stacks is mainly responsible for the high material costs of FCEV and consumers will initially have to pay a premium on the FCEV to cover the high production cost and the capital on R&D.

“Furthermore, original equipment manufacturers (OEMs) and research institutes have still not found a viable means of economic hydrogen production,” says Kumar. “Hydrogen can be compressed to one-tenth of its volume in cryogenic liquid state but there are boil off issues at a temperature -250 degree Celsius or at a pressure of 700 bars in gaseous state.”

Strategic Analysis of Global Market for Fuel Cell Electric Vehicles is part of the Automotive & Transportation Growth Partnership Service program, which also includes research in the following markets: Strategic Assessment of European Passenger Electric Vehicles Market and Strategic Assessment for European market for Micro, Mild and Full Hybrids. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

Strategic Analysis of Global Market for Fuel Cell Electric Vehicles
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Rising Oil Prices and Energy Security Issues Heighten Interest in Fuel Cell Electric Vehicles

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Publisher Contact: Anna Anlauft 
+49 (0) 69 770 33 12 anna.anlauft[.]frost.com
 
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