Oct 19, 2011 - Worldwide fuel cell revenue is seen to exceed USD 28 billion (EUR 20bn) by 2017, compared with some USD 260 million in 2008 and USD 670 million in 2010, Pike Research projects.
The compound annual growth rate (CAGR) in the fuel cell sector was around 27% between 2008 and 2010, Pike Research said. The cleantech market intelligence firm forecasts that the sector's growth will speed up significantly from 2012 on. Strong growth is expected in the coming six years.
At present, fuel cells have a variety of applications including residential power, off-grid mobile communications, low-carbon transportation and electrical grid reliability. Although fuel cells for transport are the most popular ones, the stationary fuel cell segment is actually the major driver of the industry, according to Pike Research. In 2010, some 50% of all fuel cell shipments were for stationary applications.