Aug. 13, 2013—With more than 28,000 systems being shipped in 2012, the fuel cell industry topped $1 billion in total revenue, according to a report from Navigant Research
Navigant Research said the growth spurt is driven by the increased worldwide focus on creating resilient, distributed energy systems.
“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,” said 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.”
Although the stationary sector continues to be the industry powerhouse, the transportation sector is also seeing acceleration in volume.
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.
An executive summary of the report is available for free on the Navigant Research website.
