Fuel cell vehicles may not be as popular as plug-ins or electric vehicles, but new research suggests that the market will grow dramatically by the end of the decade. According to Pike Research, global revenue for fuel cell vehicles will reach $16.9 billion by 2020. The largest projected market for these vehicles is Asia Pacific, which is expected to account for nearly half of all FCV sales, though European demand is expected to grow dramatically as well. Pike predicts that Western Europe will have an annual growth rate of 53 percent.
However, in spite of this growth, there are factors limiting just how popular FCVs could eventually be.
"The limiting factor for the FCV market will be the availability of hydrogen infrastructure," Pike senior analyst Lisa Jerram said. "If current plans for station construction are delayed or abandoned, the rollout of FCVs will be similarly pushed back."
Commercialization of FCVs is expected to begin in 2015, with sales focused on a few key areas where the infrastructure is already in place, such as California, Germant, Japan, South Korea, and Shanghai.
A number of automotive manufacturers are already producing prototypes of fuel cell vehicles for the future, including Mercedes' F 125!, which features a range of 1,000 kilometers.
