New figures released today show a drop in shipments in the global fuel cell industry in 2015. After posting strong year-on-year growth for the last few years, the industry is moving onto a much more commercial footing, with 2015 being the year of taking stock.
Weak oil prices and slow down in investor interest also hampered industry growth.
The 4th Energy Wave Fuel Cell and Hydrogen Annual Review, 2016 also notes that although the industry is growing in overall number of companies, the split between those that are commercially focused, and those who are primarily research organisations is growing. As an industry the top two tiers of companies, with product, or close to product, is still small, but are now working with go-to-market strategies which should see sustainable revenue streams in the short term.
The rapid emergence of the heavy duty fuel cell sector has been a boon for a handful of companies, and will put pressure on the top flight companies to increase performance and output over the next few years.
Dr. Kerry-Ann Adamson, the reports author, is quoted as saying “Overall the global industry in 2015 is stronger, but the critical work that now needs to be undertaken is in the non-technical areas of codes and standards, policy, insurance and finance. For an industry still dominated by engineers and engineering thinking this is a major challenge.”
The premier free report on the fuel cell and hydrogen industries is available as a download from the 4th Energy Wave website www.4thenergywave.com
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Contact:
Dr. Kerry-Ann Adamson
kerry-ann@4thenergywave.com