Global fuel cell revenue to surpass $28 billion by 2017
The clean-tech market intelligence firm forecasts that global fuel cell revenue is expected to surpass $28 billion by 2017.
The research firm said that fuel cells are deployed for applications in residential units, power for both grid-connected and off-grid mobile telecommunications base stations, and combined heat and power (CHP) plants.
Between 2008 and 2010, the fuel cell industry experienced a compound annual growth rate (CAGR) of roughly 27 percent. However, the industry revenue increased from around $260m in 2008 to nearly $670m two years later- an increase of more than 250 percent.
The research firm also noted fall-off in shipments of portable fuel cells and expect a change in 2012.
Research director Kerry-Ann Adamson said: "Shipments continue to pick up speed thanks to the breadth of applications being targeted by vendors. Fuel cells are being recognized as a highly effective tool for deploying reliable, clean power for stationary, portable, and transport applications."
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