Ballard Power Systems Inc (BLDP)

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Fuel cell vehicles will reach US$73.8 billion in annual market value by 2030, says Navigant Research

Press release, August 19; Alex Wolfgram, DIGITIMES [Monday 19 August 2013]While fuel cell vehicles (FCVs) have the potential to offer significant benefits – including lower emissions and reduced petroleum consumption – compared to today's automobiles, they also face big challenges. Makers of FCVs are focused on reducing costs and establishing refueling infrastructure in order to prepare for commercial introductions of models in the 2015-2017 timeframe. According to Navigant Research, worldwide revenue from FCVs will grow from US$194 million in 2015 to US$73.8 billion in 2030."The center of gravity in the development of FCVs has shifted from the US to Western Europe," said Lisa Jerram, senior research analyst with Navigant Research. "Germany, the UK, and the Nordic countries have less geography to cover than the US, and are forging ahead on plans to deploy hydrogen fueling stations."Fundamentally, the FCV market is dependent on the development of infrastructure, which will determine the timing and volume of automaker FCV rollouts