Report: More than 1.5M fuel cell systems to be shipped annually by 2023

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Worldwide shipments of fuel cell systems are expected to exceed 1.5 million annually by 2023, according to a new reported from Navigant Research

The fuel cell market saw the greatest demand from stationary applications during 2013 and 2014, according to the “Fuel Cells Annual Report 2014.” Applications include utility-scale fuel cells, fuel cells for industrial and commercial buildings, and fuel cells for residential power. The report also states that the growth of distributed generation (DG) helps drive interest in stationary fuel cells.

“Fuel cells fit neatly into the spectrum of technologies that support the DG movement,” said 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.”

The report provides a global analysis of major developments, trends, and actual fuel cell systems and capacity shipped from 2010 to 2013. The report is segmented by region, sector, application, fuel type, and system revenue. The study also includes information on DG and profiles more than 30 companies involved in the global fuel cell industry.

To read the report, click here.

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