Hydrogen and Fuel Cell Sector to Grow 26% Annually to 2023, says PATH

New report reveals data on global hydrogen and fuel cell industry.

WASHINGTON, D.C. – The global fuel cell and hydrogen energy market is projected to be worth over $180 billion in 2050 and revenues in the fuel cell sector are projected to grow at a rate of 26% annually over the next decade, according to a report released today by the Partnership for Advancing the Transition to Hydrogen (PATH). PATH is the international coalition of national hydrogen associations. The 2011-2012 Annual Report on World Progress in Hydrogen, PATH's second such report which includes the fuel cell market, also shows new progress in the sector in just the past 2 years.

Data contributed by PATH's members show interesting trends within key countries developing the hydrogen and fuel cell markets and a new look at the sector globally. For example, Italy recently invested €1.4 million in a project testing fuel cell vehicles on public roads in Perugia and implemented 9 trolleybuses in the City of Parma, while Germany opened the largest hydrogen refueling station in Europe in 2012, with the capability of delivering 750 kg of hydrogen daily, enough to fuel about 250 vehicles per day. Worldwide employment is expected to rise to 700,000 workers by 2019, and, in the United States, fuel cell vehicles on the road are anticipated to rise from 430 in 2013 to over 53,000 by 2017. A special new report on Argentina highlights their efforts to promote the industry at both the local and international levels.

"PATH's second annual report provides a comprehensive analysis of global developments in hydrogen and fuel cell markets," said PATH Chairman, Terry Kimmel. "Through the 16 national associations we represent we can show there is a growing global trend in hydrogen and fuel cell commercialization, led by several countries with strong national programs."

For PATH's 16 member countries on 6 different continents, the report examines the status of current and planned hydrogen and fuel cell projects, government funding and legislation – or lack thereof – for the industry, existing educational programs, and notable key world events that have successfully showcased hydrogen and fuel cell products. The report also provides an analysis of the challenges that the hydrogen community still faces and offers a list of strategies that can serve as best practices for industry development.

The Annual Report on World Progress in Hydrogen Energy is sponsored by the International Association for Hydrogen Energy, the Association Française pour l'Hydrogène, Deutscher Wasserstoff-und Brennstoffzellen-Verband, and Universiti Teknologi Malaysia and published by Technology Transition Corporation.

For a copy of the report, visit www.hpath.org or contact Nandi Mbazima at nmbazima@ttcorp.com or 202-457-0076.

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