New Report Focuses on Market Conditions and Trends for Fuel Cell Technologies
July 13, 2011
The U.S. Department of Energy recently released a report detailing the market conditions and trends for fuel cell technologies. The 2010 Fuel Cell Technologies Market Report , produced by the Breakthrough Technologies Institute, provides an overview of trends in the fuel cell industry, including product shipments, market development, and corporate performance. The report indicates continued growth in commercial deployments, especially material-handling equipment like forklifts and lift trucks, combined heat and power, and back-up and auxiliary power unit applications.
The report shows that fuel cell costs continue to fall, noting that the high-volume cost of automotive fuel cells declined to $51 per kilowatt, an 80% reduction since 2002. Commercial sales continue to grow as the number of fuel cell units shipped from North America quadrupled between 2008 and 2010. With increasing market penetration, falling costs, and significant improvements in performance and durability, positive trends in the fuel cells market are expected to continue into 2011 and beyond.