October 28, 2011
In recent years, the market for stationary fuel cells has grown rapidly, increasing by 60%, to just over 9,000 units in 2010 alone. That expansion is expected to continue, as applications in combined heat and power (CHP) for both residential and commercial buildings, backup and primary power for mobile base stations, and electricity generators (again for both commercial and residential use) gain increasing traction and generate significant revenue streams. According to a recent report from Pike Research, the annual total market value of the worldwide stationary fuel cell sector will reach $9.5 billion by 2017, surpassing 1.2 million units shipped annually. Driving that growth will be shipments of fuel cells for the residential market, which the cleantech market intelligence forecasts will more than double in each of the next six years.
The use of stationary fuel cells for mobile base stations for the wireless communications industry is also expected to grow rapidly, reaching 422,000 units by 2017.
“Stationary fuel cells have the potential to slow the rate at which energy demands for the home increase and to increase energy efficiency,” says research director Kerry-Ann Adamson. “Particularly as the role of the home shifts from a family sanctuary to also being the hub of a personal communications network, vendors see great potential for fuel cells to help moderate and manage the energy required to power the myriad applications that 21st century residents desire.”
Early centers of stationary fuel cell adoption include Japan, Germany, and Denmark, particularly for residential CHP applications, while South Korea, the United States, and the United Kingdom are poised to be fast followers in this key application area. In Japan, the Ene-Farm program, which aims to promote widespread adoption of residential CHP modules, had already resulted in the shipment of 6,000 units by 2009.
While such growth in the midst of a global recession is impressive, the industry faces market and technology barriers. Raising the profile of stationary fuel cells is a key priority for the industry, as are standardizing the technology and reducing the capital expense of manufacturing and purchasing the units. While there are some 60-plus companies with active development programs, only a handful of these are shipping units that could be considered commercial. In 2010, Pike Research estimates, just five companies represented more than three-quarters of all unit shipments in the global market.
Pike Research’s report, “Stationary Fuel Cells”, provides an in-depth analysis of the development of the stationary fuel cell sector since 2008, along with an examination of the market outlook through 2017. The study covers key business and technology issues, as well as an assessment of key industry players based on extensive primary research. Market forecasts are included for unit shipments, installed capacity, and revenue, segmented by world region and application area. An Executive Summary of the report is available for free download on the firm’s website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. For more information, visit www.pikeresearch.com or call +1.303.997.7609.