Driven by the increased worldwide focus on creating resilient, distributed energy systems, the fuel cell industry is experiencing a modest growth spurt. While the stationary sector continues to be the industry powerhouse, the transportation sector is also seeing acceleration in volume. The industry topped the $1 billion mark in revenue from the sale of fuel cell systems in 2012, according to a new report from Navigant Research, on shipments of 124 megawatts (MW), up 40 MW from 2011.
In all, more than 28,000 fuel cell systems were shipped in 2012, the study concludes.
“Rising interest in fuel cell technology, combined with new products reaching the market and new policy mandates, indicates that 2012 was a pivotal year for the fuel cell market,” says Kerry-Ann Adamson, research director with Navigant Research. “Previously, the very survival of the industry was in question. Today, in a number of ways, the fuel cell sector is stronger and healthier than ever.”
New companies and new market segments emerged in 2012, but a number of companies also disappeared from the market. The Navigant Research dataset currently tracks 53 companies with commercial fuel cell products, including an increased number of companies from China as well as new entrants in Europe. The industry is moving to regionalized manufacturing, according to the report, with smaller-scale manufacturing facilities being located closer to the adoption markets.The report, “Fuel Cells Annual Report 2013”, provides a global analysis of developments in the fuel cell industry from both a quantitative and qualitative perspective. In addition to in-depth analyses of capacity shipped, fuel used, and electrolyte adoption rates, the study also includes a special section on hydrogen demand and production. The report also profiles 30 key companies in the stationary, portable, and transportation fuel cell segments, and a forecast for worldwide fuel cell adoption extends through 2018. An Executive Summary of the report is available for free download on the Navigant Research website. About Navigant Research Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. About Navigant Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com. * The information contained in this press release concerning the report, “Fuel Cells Annual Report 2013 ,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts