Stationary Fuel Cell Market to Top $2bn this Year
Annual revenue in the stationary fuel cell market will double to $2 billion this year form 2012’s $1 billion, according to a new report from Navigant Research, Stationary Fuel Cells..
Navigant also forecasts that even under conservative growth estimates, the industry will be shipping 6.9 GW per annum of stationary fuel cells by 2022.
Even though fuel cell vehicles get most of the attention, stationary fuel cells gain most of the sector’s revenue, about 70 percent of it from sales in 2013.
Between 2010 and 2012, the combined fuel cell combined heat and power market posted a 77.8 percent compound annual growth rate (CAGR).
The prime power market is led by three players: Bloom Energy, ClearEdge Power, and FuelCell Energy. They are planning the deployment of large stationary fuel cells in the tens of megawatts. Increased focus on grid stability and natural disasters has spiked interest in the use of fuel cells as small distributed power plants for grid stabilization or backup power.
At the end of 2013, 20 companies represented over 95 percent of total revenue for the stationary fuel cell sector. This was up from the 2012 edition of Navigant Research’s Stationary Fuel Cells report, indicating that there is growth in some companies.
The downside is that the current number of stationary fuel cell system companies that are developing product is less than 50. There appears to be a slack in the innovation pipeline. The most effective way of doing this would be to mobilize some of the 25,000 active researchers in the field of fuel cells and hydrogen into spinoffs and startups.
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