March 10, 2014
Grid resiliency, increasing financing options helping to drive the market, report concludes
The stationary fuel cell sector continues to be the vanguard of the overall global fuel cell industry. As the focus on grid stability increases and the costs associated with natural disasters rise, the use of fuel cells as small distributed power plants for grid stabilization and backup is moving forward more rapidly, in terms of megawatts and revenue, than any other fuel cell sector. Click to tweet: According to a new report from Navigant Research, global stationary fuel cell revenue will grow from $1.4 billion in 2013 to $40.0 billion in 2022.
“With the growing need to enhance grid resiliency and the accelerating adoption of distributed generation technologies worldwide, the stationary fuel cell industry is well-positioned for growth over the next decade,” says Mackinnon Lawrence, research director with Navigant Research. “Expected to break through the $2 billion mark in annual revenue in 2014, stationary fuel cells are seeing increased financing options for adoption, particularly in the healthy residential combined heat and power segment.”
The prime power market is led by three players: Bloom Energy, ClearEdge Power, and FuelCell Energy. These three companies are driving forward the deployment of large stationary fuel cells, with capacities in the tens of megawatts. At the end of 2013, 20 companies accounted for more than 95 percent of total revenue for the stationary fuel cell sector, according to the report. The downside to this concentration is an innovation pipeline that may not be robust enough to drive the technological advances that this emerging sector will require over the next 5 to 10 years.
The report, “Stationary Fuel Cells”, analyzes the global market opportunity for stationary fuel cells across four key application segments: prime power, large CHP, resCHP, and UPS. It provides a comprehensive assessment of the demand drivers, business models, and policy factors associated with the rapidly developing market for stationary fuel cells. Global revenue and capacity forecasts, segmented by application, region of manufacture, and electrolyte type, extend through 2022. The report also examines the main technology issues related to stationary fuel cells and includes in-depth profiles of key industry players. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Richard Martin
* The information contained in this press release concerning the report, “Stationary Fuel Cells,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.