Fuel cell industry prepares for massive growth in the coming years, according to study
Hydrogen has been gaining steady momentum over the course of several years but has only recently begun seeing widespread adoption. The growing demand for hydrogen fuel is due, in part, to rising oil prices and diminishing oil reserves. Emerging technologies that are making fuel cells more cost-effective and efficient has aided the alternative energy is gaining commercial adoption.
A new study from Fuel Cell Today, a leading market intelligence firm specializing in hydrogen fuel cells, shows that the hydrogen energy industry is poised for growth in the coming years.
Hydrogen has been gaining steady momentum over the course of several years but has only recently begun seeing widespread adoption. The growing demand for hydrogen fuel is due, in part, to rising oil prices and diminishing oil reserves. Emerging technologies that are making fuel cells more cost-effective and efficient has aided the alternative energy is gaining commercial adoption.
Fuel Cell Today’s reports show that shipments of fuel cells in 2011 have surpassed 285,000 units worldwide. This is a 25% increase from last year. This adds further momentum to the hydrogen industry, which has experienced 50% growth since 2009.
