Report projects the growth of the global stationary fuel cell market
Orbis Research has released a new report that highlights the growth of the global stationary fuel cell market. Fuel cells are becoming more popular and the industry is beginning to experience a promising period of growth. This is most evident in the portable fuel cell section, where the demand for clean energy has spawned more interest in proton exchange membrane (PEM) fuel cells, but stationary fuel cells are also gaining momentum.
Stationary fuel cell market predicted to reach $14.3 billion by 2020
The report predicts that the stationary fuel cell market will reach $14.3 billion by 2020, growing from the $1.2 billion in saw in 2013. This growth is based on the growing demand for distributed energy systems and the increasing use of natural gas. Though stationary fuel cells produce clean electrical power without also producing emissions, the fuel that these energy systems use is typically derived from natural gas, which is a fossil-fuel. Natural gas burns cleaner than other fossil-fuels, but producing this fuel in an environmentally hazardous process.
Large organizations are showing strong interest in fuel cells
Large companies are showing the most interest in stationary fuel cells. These relatively large energy systems have the ability to produce large quantities of electrical power. This makes them suitable for applications in data centers and at large retail outlets. The report from Orbis Research suggests that fuel cells have the potential to threaten conventional utilities, as they provide a way to generate electrical power that does not come from these utilities.
Use of new materials helps reduce the cost of fuel cells
One of the factors contributing to the growth of the stationary fuel cell market is the use of new materials that make these energy systems less expensive and more efficient. Fuel cell developers have been working to make their energy systems more affordable and attractive to consumers and businesses alike. Using new materials has helped these companies accomplish their goals, but fuel cells have a long way to go until they can be considered a mainstream success in the renewable energy sector.