Stationary Fuel Cell Market Will Reach $9 Billion in Annual Revenue by 2022, Forecasts Navigant Rese
Stationary Fuel Cell Market Will Reach $9 Billion in Annual Revenue by 2022, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- While growing in terms of megawatts and systems shipped, the market for stationary fuel cells is also going through a period of deep restructuring, with a number of companies exiting the space and a handful of new entrants appearing. Over the last year, the sector has seen a sharp increase in market demand created by government policy initiatives. According to a recent report from Navigant Research, annual revenue from stationary fuel cells will grow from $1.7 billion in 2013 to $9 billion in 2022.
"Stationary fuel cells are still in the early part of the adoption cycle, with limited availability and affordability," says Kerry-Ann Adamson, research director with Navigant Research. "During the last year, however, companies have moved to create products for markets where real needs exist—in many cases producing systems that use locally available fuels, can be maintained by local engineers, and do not require very limited operating temperature ranges. This growing realism will enable the industry to create a secure foundation for future growth."
One key factor driving growth in the stationary fuel cell sector is falling costs, according to the report. Through a combination of re-engineering systems and high-volume, high-quality manufacturing, some leading companies have achieved up to 60 percent cost reductions over the last decade. Nevertheless, stationary fuel cell costs, particularly for polymer electrolyte membrane fuel cells, are still very high compared to many incumbent technologies.
The report, "Stationary Fuel Cells", provides a comprehensive analysis of developments and market opportunities in the global fuel cell industry, including a focus on the combined heat and power, prime power, and backup power/uninterruptible power supplies application segments. The study includes two market forecasts for unit shipments, megawatt shipments, and revenue under constrained and unconstrained growth scenarios, segmented by world region and application segment. The report also profiles 24 active fuel cell system companies in North America, Europe, and Asia Pacific. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team'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 Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* 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.
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