Japan's fuel cell market estimated to expand 99-fold by FY 2025
March 5, 2010 12:58 pm
TOKYO, March 5 — A research firm has estimated Japan's market for fuel cells will expand 99-fold from fiscal 2009 to 1.61 trillion yen in fiscal 2025 due to uptake of the technology for housing and vehicles.
Fuel cell systems for housing will serve as a driving force for the market until fiscal 2018 before the spread of fuel cell vehicles in competition with hybrid gasoline-electric and electric cars, the Fuji-Keizai Group says in a recent survey report.
Fuel cells generate electricity through reactions between hydrogen and oxygen without emitting carbon dioxide and are seen as a promising tool to reduce such emissions.
The market is estimated to expand from 16.3 billion yen in fiscal 2009 ending this month to 99.6 billion yen in fiscal 2015 and exceed 300 billion yen in 2020, supported by growing demand for fuel cell systems for housing.
As the fuel cell vehicle diffusion gains momentum later, fuel cell demand may reach 990 billion yen for automobiles and 507 billion yen for housing in fiscal 2025.
Fuel cells for vehicles and housing may thus account for more than 90 percent of the market in fiscal 2025. The remaining fuel cells may be used for mobile phones and other portable machines.
High costs have so far prevented fuel cell demand from expanding fast. A fuel cell system for housing now costs as much as 3.5 million yen.
''Cost reductions are the key to the full-fledged Diffusion of fuel cells,'' the research firm says. (PNA/Kyodo)
ALM/ebp
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