Dec. 6, 2013: Fuel Cell Systems Market Surpassed $1.3 Billion in 2012
Resilience, Distributed Energy, and Energy Independence Are the Key Terms Increasing Demand
BOULDER, Colo. — Driven, in part, by the increased incidence of major natural disasters, the fuel cell industry is seeing a resurgence, notes Navigant Research. Rising demand and new policy initiatives from countries including China, South Korea and South Africa made 2012 a pivotal year for the fuel cell market. According to a report from the research firm, the industry topped the $1 billion mark in revenue from the sale of fuel cell systems in 2012, growing from $847.5 million in 2011 to $1.3 billion in 2012.
“Resilience, distributed energy, and energy independence are the key terms increasing the demand for fuel cell technology today,” said Kerry-Ann Adamson, research director with Navigant Research. “Any reduction in environmental impact through the adoption of fuel cell technology in the portable, transportation, and stationary sectors is now seen as a side benefit.”