Dallas, TX (PRWEB) December 05, 2013
Stationary Fuel Cell Market to Undergo Outstanding Growth by 2020
The stationary fuel cell market is forecast to show massive growth, thanks to increasing interest in the technology and government subsidy programs, climbing from $390m in 2012 to $7.52 billion by 2020, at a Compound Annual Growth Rate of 44.7%.
According to the company’s latest report*, the use of fuel cells is expected to increase significantly in several applications. The most important of these will be Combined Heat and Power systems, vehicles, material handling equipment, Auxiliary Power Units and portable charges for consumer electronics.
Additionally, stationary fuel cell installation is expected to jump from 186.9 Mega-Watts (MW) in 2013 to 6,266 MW by 2020, due to expected decreases in costs for set up, shipment and installation.
In fact, this report forecasts the cost of a stationary fuel cell system to decrease by more than 50%, from $3,000 per Kilowatt (kW) in 2013 to $1,200 kW by 2020.
Harsha Reddy Nagatham, GlobalData’s Analyst covering Alternative Energy, says: “Proton Exchange Membrane fuel cells, which can be used for both stationary and transport applications, are the most common types of fuel cell currently utilized. They are less expensive to build, when compared with other types of fuel cells, and can be designed with a wide capacity range of 1 kW to 150 kW.
“In terms of installed capacity, Molten Carbonate Fuel Cells were also significant contributors in 2011 and 2012, as these are used in large MW scale on-grid or industrial power systems.”
Despite the significant growth, the stationary fuel cell market could still be hindered by high manufacturing costs, due to the use of expensive materials, and lack of supporting infrastructure.
However, the analyst concludes: “Support from governments and intra-governmental research organizations may help increase economies of scale initially, and eventually reduce the manufacturing cost in pursuit of commercializing this technology on a large scale.”
This report provides in depth analysis of the global fuel cell market. The report also provides market analysis of key countries — the US, UK, Germany, Republic of Korea, and Japan. The research provides historical and forecast data to 2020 for installed capacity and market size globally and for each of the key countries.
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