EDINBURGH, Scotland--(BUSINESS WIRE)--A new report from 4th Energy Wave has been released to provide analytical analysis of the growth of the global fuel cell sector through 2023.
Dr Kerry-Ann Adamson, CEO of 4th Energy Wave, states that “although the sector is growing, with revenue due to increase to $16.5 billion annually by 2023, this is just the tip of the iceberg in terms of potential. Whilst the large stationary sector is providing the bulk of the MWs shipped the innovation is increasingly coming from companies targeting areas such as the oil and gas markets, UAVs and at the other end of the spectrum, the portable power space.”
The primary data for 2013, gathered directly by interviews of the key players along the global supply chain, show an industry growing with shipments forecast to increase from 67,500 in 2013 to over 100,000 by the end of 2014. Fuel cells for use in distributed generation continue to be dominated by the Japanese residential sector, which make up nearly 40% of all systems shipped in 2014. Although the DG market overall is a key trend, it continues to be dominated by geographical pockets, and cannot yet be said to be a truly global trend.
Kerry-Ann continues “Whilst fuel cells truly represent an exciting technology their growth is still hampered by too long a gestation period of product development to product shipment. We are seeing demand and need increase year-on-year but we don’t yet have a profitable sustainable industry to supply the demand.” On the issue of profitability she says “There is a small basket of companies threatening profitability within the next 12 to 18 months – finally!”
The 4th Energy Wave report, “Fuel Cell Annual Review 2013 - 2023,” provides a 100 page statistical analysis of all the major developments in the industry with data broken out by systems, capacity, and revenue per region and per market. It also, uniquely for 4th Energy Wave, shows global trade patterns using the data visualisation techniques developed by 4th Energy Wave.
About 4th Energy Wave: 4th Energy Wave is an independent analyst house, which combines modelling with data visualisation to allow clients to understand the emerging opportunities in the global fuel cell sector. It works with any company looking to engage in the sector, from micro company start-up right up to national governments. More information can be found at www.4thenergywave.com.