HVAC Breaking News / News

Feb. 20, 2012: Global Revenue From Fuel Cells and Hydrogen Is Forecast to Reach $785 Million in 2012

February 20, 2012
/ Print / Reprints /
ShareMore
/ Text Size+
BOULDER, Colo. — As the fuel cell industry makes the transition from the R&D stage to full commercialization, breakout applications are continuing to emerge and business models and market structures are evolving rapidly, notes Pike Research. Overall, the industry continues to expand, and the total size of the global market — including revenues from fuel cells and hydrogen — will reach $785 million in 2012, according to a new white paper from the firm.

One key market that is taking shape is the use of fuel cells for residential combined heat and power (CHP) applications, a market that is experiencing a compound annual growth rate (CAGR) of 67.7 percent. Meanwhile, Pike Research expects that remote sensing will be the breakout market for small fuel cells in 2012, as they are well-suited for such applications as seismic monitoring. However, other sectors do not look as promising, according to Pike Research’s analysis — one example is the portable fuel cell market, particularly for consumer electronics applications, which the firm anticipates will suffer disappointment in 2012 after a recent renewal of hype for this sector.

“The fuel cell and hydrogen industries are once again entering a year of growth, as seen in the revenue projections for the first time surpassing three-quarters of a billion dollars, but market participants also face significant challenges,” said research director Kerry-Ann Adamson. “As well as growth in the current markets, we are also starting to see new markets emerging — including, in 2012, the remote sensing sector, with increasing demand for fit-for-purpose products from the fuel cell industry.”

Pike Research also predicts that renewables, storage, and fuel cells will converge in the off-grid power market.

Publication date: 02/20/2012

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

Kyle Gargaro, editor-in-chief of The NEWS, hosted the 2014 ACCA CEO Forum. At the event, six well-known, highly respected company executives, Gary Michel, Ingersoll Rand/Trane; Chris Nelson, Carrier Corp.; Chris Peel, Rheem Mfg. Co.; Rod Rushing, Johnson Controls; Brent Schroeder, Emerson Climate Technologies; and Doug Young, Lennox; provided individual industry outlooks and fielded questions directly from attending contractors. Listen to the entire event on the NEWSMakers podcast. Posted on April 14.

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con