Revenues from stationary fuel cells will pass US$2 billion in 2014, up from $1 billion in 2012, new analysis has found.
A recent report from Navigant Research put the stationary fuel cell sector at over 70% of global fuel cell revenue in 2013, while its core application segments of prime power, large combined heat and power, residential CHP and uninterruptable power supply (UPS) all showed continuing growth.
The fuel cell CHP market posted a 77.8% combined annual growth rate between 2010 and 2012, the report found, with the majority coming from the residential CHP segment. Japan is the world leader in residential CHP, with 42,700 fuel cell systems installed at the end of 2012.
Navigant predicts that the stationary fuel cell industry will be shipping 6.9 GW per year by 2022, with the UPS segment showing the strongest growth, shipping 2.7 GW per year. The report also predicts that 1.9 million homes will have fuel cell CHP systems installed by 2022.