Pike Research sees stationary fuel cell market at USD 9.5bn in 2017
Oct 28, 2011 - The global market for stationary fuel cells will reach USD 9.5 billion (EUR 6.7bn) by 2017, exceeding unit shipments of 1.2 million a year, Pike Research projects.
Fuel cells for the residential market will be a major driver for the sector's expansion, the analyst said. It expects sales of fuel cells for residential use to more than double every year till 2017.
The rapid growth of the fuel cell market is a result of the growing popularity of fuel cells for applications such as residential and commercial combined heat and power (CHP) projects, backup and primary power for mobile base stations and residential and commercial power generators. Pike Research sees sales of stationary fuel cells for mobile base stations reaching 422,000 units in six years.
In the past few years the market for stationary fuel cells has surged by some 60% to above 9,000 units in 2010. According to Pike Research, last year five companies accounted for over 30% of all shipments around the globe. Japan, Germany and Denmark are the countries where fuel cell sales are currently focused, while the US, the UK and South Korea are expected to join the list.