Study: Fuel cell vehicles to reach 670,000 in annual sales by 2020

As many automakers turn their attention to electric vehicles, fuel cells are not getting as much attention as they used to. Though we don't see either electric or fuel cell-powered vehicles capturing a majority of the automotive market any time soon, several studies have suggested that the growth of battery-powered vehicles will outpace fuel cells. Now, a new study from Pike Research has emerged suggesting that fuel cell vehicles are ripe for an explosive increase in volume. Pike predicts fuel cell vehicles (FCVs) will reach 670,000 in annual sales volume by 2020. Though the predicted volume is much higher than we anticipated, the study suggests that automakers will adopt fuel cell technology at a rapid rate over the next ten years, leading to high annual output.

Of the 670,000 in annual sales, the U.S. will lead the way with 134,049 FCVs, China will hold a close second at 129,241 and Germany will round out the top three with 126,783 annual sales of FCVs. We're not entirely sure how Pike can confidently list such detailed results, but we think that the findings are overly optimistic and based upon the assumption that the necessary refueling infrastructure will be in place by 2020. Without the infrastructure, FCVs could fail to reach the lofty volumes predicted by Pike. Fuel cell industry analyst Dave Hurst spoke the truth when he remarked:

The entire growth of the fuel cell vehicle market balances on two key elements: the growth of hydrogen gas refueling stations and improvements in the cells themselves
Hat tip to Larz!

[Source: Pike Research]

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