Worldwide shipments of fuel cell systems are expected to exceed 1.5 million annually by 2023, according to a new report from Navigant Research
During 2013 and 2014, the fuel cell market continued to see the greatest demand from stationary applications, including utility-scale fuel cells, fuel cells for industrial and commercial buildings, and fuel cells for residential power.
The spread of distributed generation, which represents a shift away from traditional centralized power generation model toward a more diverse and resilient grid infrastructure, is helping to drive strong interest in stationary fuel cells.
“Fuel cells fit neatly into the spectrum of technologies that support the DG movement,” says Lisa Jerram, principal research analyst with Navigant Research. “As a result, Navigant Research sees the stationary fuel cell sector as the one with the strongest global potential, in terms of fuel cell systems shipped, within the fuel cell market in both the near- and long-term.”
Another trend during the last 2 years, according to the report, has been the revival of fuel cell vehicles. The market is seeing a surge of media attention as several automakers prepare to launch commercial FCVs in 2015. FCV sales will likely drive growth in the transportation fuel cell market, which is expected surpass the stationary sector in terms of capacity in 2017 even though more stationary fuel cells will be shipped than FCVs.