Stationary Fuel Cell Market Expected to Reach $16.2 Billion by 2025

12/02/2016 |

The report, Stationary Fuel Cells, analyzes the worldwide market of stationary fuel cells for MCHP, prime power, large CHP and uninterruptible power supply (UPS) applications

A new report from Navigant Research investigates stationary fuel cells for micro-combined heat and power (MCHP), prime power, large combined heat and power (CHP), and uninterruptible power supply (UPS) applications, with global market forecasts for capacity and revenue segmented by technology, application, and region through 2025.

According to the report, the stationary fuel cell market is transitioning toward maturity and wider adoption, held down by an improving economy, government support and growing demand for resilient, dispatchable power --expecting to reach $16.2 billion by 2025. In addition, technology breakthroughs are giving way to persistent cost declines, product improvements and business model innovations, making fuel cells viable in a growing range of markets and opening new opportunities for stakeholders that are prepared for the transition.

"Stationary fuel cells have needed significant lifecycle cost declines to compete in the broader electricity generation market," says Adam Forni, senior research analyst with Navigant Research. "Those cost declines — and therefore the industry — are approaching a tipping point, thanks to maturing supply chains, innovative business models, and steady policy support."

To date, more than 150,000 MCHP units have been installed in Japan, where prices have fallen under the successful ENE-FARM subsidy, according to the report. In the United States and South Korea, major energy players like Apple, Constellation Energy, and POSCO Energy have invested millions in fuel cell projects, while strong policy support in Japan and South Korea are expected to drive broad adoption, with similar effects expected in other advanced economies in North America and Europe.

The study provides an analysis of key market and technology developments related to stationary fuel cells and covers proton exchange membrane, solid oxide, molten carbonate, phosphoric acid, alkaline, and direct methane fuel cells. An Executive Summary of the report is available for free download on the Navigant Research Web site here

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