Once viewed primarily as a replacement for gasoline and diesel internal combustion engines in cars and buses, fuel cells have much broader applications. Opportunities for growth in the fuel cell industry are immense. The question is no longer whether or not fuel cells are a viable technology, but when and how large-scale commercialization will occur, and which countries and companies will emerge as dominant players in the industry in the long run.
The market potential for fuel cells is huge. Recognizing the environmental, health and energy efficiency benefits, developed economies in North America, Europe and Japan are leading the way as early adopters of fuel cells.
Moderate market projections show that the industry could achieve a compounded average annual growth rate of over 60 percent over the next decade. Global demand for fuel cells is projected to be nearly $46 billion in 2011.
Canada is a leader in the fuel cell industry, but our many successes do not guarantee this position. Other countries have recognized the benefits of fuel cells and have developed strategies and programs to support their fuel cell industries.
Released in June 2002, this 68-page report provides an independent study of the current state of the Canadian fuel cells industry and economic rationale for continued participation by Canadian governments in the fuel cell industry. Its eight sections cover topics such as:
About the Study
PricewaterhouseCoopers was retained by Fuel Cells Canada to undertake an independent study of the economic rationale for continued participation by Canadian governments in the fuel cell industry. The study was jointly funded by Fuel Cells Canada, Western Economic Diversification Canada, National Research Council of Canada and PricewaterhouseCoopers.
The study seeks to stimulate discussion about the future of the Canadian fuel cell industry, what it will take for Canadian companies to remain competitive and how government and industry can work together.
The report has appendices with a comprehensive bibliography of the information sources used and interviews conducted, information on how a fuel cell works and types of fuel cells, profiles of Canadian companies in the fuel cells industry, and market projections.
About Fuel Cells Canada
Fuel Cells Canada (FCC) was established in 2000 as a non-profit, member-driven national industry association with the mission to advance Canada's world-leading fuel cell industry. As part of this mission, FCC wants to ensure that the benefits to the Canadian fuel cell industry and Canadians are fully realized as the global demand for fuel cells accelerates.
Fuel Cells Canada is headquartered in Vancouver, British Columbia, Canada at the National Research Council Innovation Centre. It is the prime source of services and support to Canadian corporations, educational institutions and business alliances promoting, developing, demonstrating, and deploying fuel cell and related products and services in Canada. The association's website is www.fuelcellscanada.ca
A copy of the full survey results of Fuel Cells: The Opportunity for Canada is are available by downloading the attached electronic file below.