The fuel cell industry is growing even in the face of a global economic recession, with 2010 revenues exceeding $750 million. Markets such as uninterruptible power supplies (UPS), residential combined heat and power (CHP), power for remote monitoring equipment, auxiliary power units (APUs), and portal power for military applications have all experienced an increase in traction over the last year. A new white paper from Pike Research identifies 10 key trends that are having an influence on the development of the worldwide fuel cell market. The paper, which includes predictions about the fuel cell and hydrogen industry in 2011 and beyond, is available for free download on Pike Research's website.
"Fuel cells are finding a place in an increasing number of commercial applications, and 2011 is shaping up to be a big year in terms of market development," says research director Kerry-Ann Adamson. "Industry consolidation is a trend that has been long anticipated, but will only accelerate during the course of the year. In addition, new issues have sprung out of nowhere in the past year such as concerns over supply of rare earth metals."
Adamson adds that the issue of government intervention versus the free market will continue to simmer as different countries' economic policies diverge on matters of fuel cell development. And new markets for fuel cells are continuing to come to the fore as the economics of adoption, both direct and indirect, continue to be tipped in favor of the technology.
Key fuel cell trends that Pike Research is watching in 2011 and beyond include the following:
- The reemergence of private equity firms in the fuel cell market
- The continuing growth and deployment of fuel cell vehicles
- The rising influence of Japan and Korea in the global fuel cell industry
- The emergence of hydrogen as an energy storage medium
- Rare earth restrictions as an obstacle to fuel cell adoption
- Unmanned aerial vehicles (UAVs) as a key market for micro fuel cells
Pike Research's white paper, "Fuel Cell and Hydrogen Industry: Ten Trends to Watch in 2011 and Beyond", offers timely perspective and insight on 10 trends that will change the shape of the fuel cell industry during 2011. Information and analysis in this paper is drawn from Pike Research's ongoing coverage of the global fuel cell market.
source: Pike Research