Investments in Hydrogen Economy to Reach $5.5 Billion by 2012October 5, 2007
According to the BCC Research report, expenditures for plant facilities and equipment will experience a compound annual growth rate of 27.0% over the next 5 years.
WELLESLEY, MA /BUSINESS WIRE/ -- According to the published BCC Research report "Building the Global Hydrogen Economy: Technologies and Opportunities" (EGY055A), global investments in building the hydrogen economy cost over $1.3 billion in 2006 and are expected to rise to nearly $1.7 billion in 2007 and $5.5 billion in 2012. These figures represent a compound annual growth rate (CAGR) of 27.0% over the next 5 years.
Technologies for converting hydrogen to energy, particularly fuel cells but also hydrogen internal combustion engines and turbines in the out-years, account for the bulk of the market: 78% in 2006 to 2007, declining somewhat to 76% in 2012. This segment of the market is growing at a 26.2% CAGR and will reach over $4 billion by 2012.
Hydrogen storage and distribution technologies are also expected to lose market share (i.e., from 5.5% in 2006 to 3.9% in 2012). Hydrogen production technologies should increase their market share from 10.6% in 2006 to 14.3% in 2012. This segment is projected to increase at a 37.5% CAGR to reach a value of $786.4 million by 2012. Other technologies' (mainly hydrogen sensors) share should remain steady at 5.9% of the market.
BCC Research is the source and publisher of "Building the Global Hydrogen Economy: Technologies and Opportunities" (EGY055A). For information on the report, contact BCC Research at 40 Washington St., Ste. 110, Wellesley, MA; 866-285-7215, email@example.com, or via the Web. The electronic user price is $4850.
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