|[November 30, 2012]
Annual Fuel Cell System Shipments Will Surpass 600,000 by 2017, Forecasts Pike Research
BOULDER, Colo. --(Business Wire)--
Fuel cells have an important role to play within the emerging smart
energy paradigm. They represent one of a wave of commercially available
technologies that are resilient, distributed, and efficient. Though the
fuel cell industry has displayed some encouraging signs in the last
three years, it still faces significant headwinds - including the high
costs for fuel cell stacks compared those of incumbent technologies and
a lack of customer awareness of the advantages of fuel cell technology.
Nevertheless, according to a recent report from Pike
Research, a part of Navigant's Energy Practice, annual shipments of
fuel cell systems will grow rapidly over the next five years, from less
than 29,000 in 2012 to more than 600,000 in 2017.
The market value of the fuel cell industry, including all applications
in the stationary, portable, and transport sectors, will reach $15.7
billion in 2017, the study concludes.
"Due to a jump in orders in the first quarter of 2012, the industry is
on target to surpass the billion-dollar mark by the end of 2012," says
research director Kerry-Ann Adamson. "The period 2014-2015, when the
first fuel cell vehicles are expected to be rolled out, remains critical
in terms of transitioning from a niche industry to starting to move into
The stationary fuel cell sector continues to provide the foundation for
the entire industry in terms of shipments, success stories, and
decreased costs. The stationary fuel cell sector broke 20,000 systems
shipped in 2011, according to the report, a significant jump over 2010.
The area that saw the largest jump was combined heat and power (CHP),
with residential CHP takig the lion's share of the growth.
The report, "Fuel
Cells Annual Report 2012", provides an assessment of the state of
the global fuel cell market across its three major industry sectors:
stationary, portable, and transport. The study includes qualitative and
quantitative analysis of demand drivers and barriers, public policy
factors, and key industry players in the worldwide fuel cell industry.
Market sizing and forecasts are included for megawatts shipped,
electrolyte adoption rates, system shipments, and revenue by sector and
application. This year's edition of the report also includes a special
section on the impact that the current natural gas boom could have on
the fuel cell industry. An Executive Summary of the report is available
for free download on the Pike
About Pike Research (News - Alert)
Pike Research, which joined Navigant's global Energy Practice on July 1,
2012, provides in-depth analysis of 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 Grid, Smart Transportation, Smart Industry, and Smart Buildings
sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
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 2012," is a summary and
reflects Pike 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
Pike Research nor Navigant undertakes any obligation to update any of
the information contained in this press release or the report.
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