BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research provides a global analysis of major developments and trends in the fuel cell industry, including global market forecasts for fuel cell systems and capacity shipped and system revenue through 2023.
During 2013 and 2014, the fuel cell market continued to see the greatest demand from stationary applications, including utility-scale fuel cells, fuel cells for industrial and commercial buildings, and fuel cells for residential power. The spread of distributed generation (DG), which represents a shift away from traditional centralized power generation model toward a more diverse and resilient grid infrastructure, is helping to drive strong interest in stationary fuel cells. Click to tweet: According to a new report from Navigant Research, worldwide shipments of fuel cell systems are expected to exceed 1.5 million annually by 2023.
“Fuel cells fit neatly into the spectrum of technologies that support the DG movement,” says Lisa Jerram, principal research analyst with Navigant Research. “As a result, Navigant Research sees the stationary fuel cell sector as the one with the strongest global potential, in terms of fuel cell systems shipped, within the fuel cell market in both the near- and long-term.”
Another significant trend during the last 2 years, according to the report, has been the revival of fuel cell vehicles (FCVs). The market is seeing a surge of media attention as several automakers prepare to launch commercial FCVs in 2015. FCV sales will likely drive growth in the transportation fuel cell market, which is expected surpass the stationary sector in terms of capacity in 2017 even though more stationary fuel cells will be shipped than FCVs.
The report, “Fuel Cells Annual Report 2014,” provides a global analysis of major developments and trends in the fuel cell industry, with a focus on the stationary, portable, and transportation sectors. It features an analysis of actual fuel cell systems and capacity shipped from 2010 to 2013, segmented by region, sector, application, electrolyte, and fuel type, as well as system revenue. Global market forecasts for fuel cell systems and capacity shipped and system revenue extend through 2023. The study also includes a special section on the growing interest in DG and profiles more than 30 companies active in the global fuel cell industry. 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, 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 provide services that extend from expert and advisory work through implementation and outsourcing. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, “Fuel Cells Annual Report 2014,” 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.
