Frankfurt/Main. With the increasing use of fuel cells in vehicles, the German mechanical engineering industry expects billions of dollars in sales. In Europe alone, a turnover of eleven billion euros for components of fuel cell technology is possible in the passenger car sector by 2040, according to a study presented on Friday on behalf of the industry association VDMA.
Future technology could create tens of thousands of jobs
Accordingly, “the electrification of the car sector is supported by an increasing number of fuel cell vehicles.” South Korea and Japan are already pioneers in the use of cars with fuel cells. Overall, the annual sales of vehicles with fuel cells will increase from 2030 to 2040 to over ten million. That would correspond to a market share of twelve percent. To this end, investments of five billion euros per year would be made worldwide for research and development alone in the coming years.
In addition, according to the study, 68,000 new jobs could be created to produce fuel cells in Europe alone. “For the mechanical engineering industry, fuel cell technology is a great opportunity in terms of added value and jobs,” said deputy general manager Hartmut Rauen commenting on the results. “Politicians are called upon to create planning security for companies by setting long-term framework conditions.”