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More Than 1.2 Million Stationary Fuel Cell Systems Will Be Shipped Annually by 2022 Copyright Justin Sullivan / Getty Images

More Than 1.2 Million Stationary Fuel Cell Systems Will Be Shipped Annually by 2022

Annual shipments of stationary fuel cell systems will grow from nearly 40,000 in 2014 to 1.25 million in 2022, expanding at a compound annual growth rate (CAGR) of 51.7 percent.

Driven by the growing need to enhance grid resiliency and the accelerating adoption of distributed generation (DG) technologies, the stationary fuel cell market is poised for rapid growth over the next decade. The stationary fuel cell sector represented more than 70 percent of global fuel cell revenue at the beginning of 2014, and is expected to continue to lead the overall fuel cell market in the coming years. According to a recent report from Navigant Research, annual shipments of stationary fuel cell systems will grow from nearly 40,000 in 2014 to 1.25 million in 2022, expanding at a compound annual growth rate (CAGR) of 51.7 percent.

“The stationary fuel cell sector is in a very vibrant phase, with a range of companies coming forward with product announcements, planned launches, and aspirational targets,” says Mackinnon Lawrence, research director with Navigant Research. “The increased focus on grid resiliency and the overwhelming costs associated with natural disasters are driving rapid growth in demand for the use of fuel cells as small distributed power plants for grid stabilization and backup.”

The core application segments in the stationary fuel cell market are prime power, large combined heat and power (CHP), residential CHP (resCHP), and uninterruptible power supply (UPS). The resCHP segment is expected to surpass the $1 billion mark in annual revenue this year, according to the report, and will remain the largest single application for stationary fuel cells through 2022.

The report, “Stationary Fuel Cells,” analyzes the global market opportunity for stationary fuel cells across four key application segments: prime power, large CHP, resCHP, and UPS. It provides a comprehensive assessment of the demand drivers, business models, and policy factors associated with the rapidly developing market for stationary fuel cells. Global revenue and capacity forecasts, segmented by application, region of manufacture, and electrolyte type, extend through 2022. The report also examines the main technology issues related to stationary fuel cells and includes in-depth profiles of key industry players.

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