Global Stationary Fuel Cell Market: Snapshot
Fuel cells can be utilized as primary propulsion power, backup, or combined heat and power source (CHP) for fixed applications. Fixed fuel cells can be estimated to control anything from a solitary family home to a huge business place, which implies they bode well for a wide scope of business sectors including retail, server farms, private, media communications, and some more. Energy components for fixed applications contrast from versatile and car applications in the decision of power module, fuel, and the warming and cooling of the stacks. An assortment of fixed energy component power frameworks have been created to take into account the developing interest for power supply. Owing to this growing demand, the global stationary fuel cells market is projected to grow exponentially in coming years.
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Stationary fuel cells address a few needs in the power generation industry, with the ability to scale from singular units to megawatt (MW)- scale establishments. Regardless of whether energized by flammable gas, biogas, or hydrogen, the innovations and technologies in power generation industry decreases discharges when contrasted and coal and other conventional fills. It additionally gives a flexible wellspring of vitality that keeps basic offices and foundation, for example, emergency clinics and server farms going nonstop. Also, the units take up a generally limited quantity of room, which considers incorporation with urban offices that might not have huge measures of room accessible. These benefits further propel the growth of global stationary fuel cell market in coming years.
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Stationary fuel cells driven vehicles are highlighted throughout chains of logistic giants , with some conveyance organizations presenting hydrogen as a range extender for battery vehicles. The German conveyance organization Deutsche Post DHL declared in May of this current year that it will send 100 energy component controlled trucks beginning in 2020. These adoptions of stationary fuel cells also propel the growth of global stationary fuel cell market.
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Stationary Fuel Cell Market: Consumer Preference for Proton Exchange Membrane Fuel Cells Continues to Surge
Stationary fuel cells are being used extensively for commercial, industrial, and even residential purposes, as they provide clean power that is not connected to the grid. The low-emission factor, coupled with lower efficiency losses during transmission, in comparison to other clean technologies, contributes to their rising popularity. One of the most promising technologies that is currently being used for stationary and portable applications is proton exchange membrane fuel cells, which use water-based acidic polymer membranes as electrolytes. They are highly efficient, non-polluting power sources, and accounted for around half of the total share of the stationary fuel cell market by volume in 2018. The segment is expected to expand more than 3X by the end of the forecast period in 2027, to hit the ~105 thousand units mark.
However, for use in stationary applications, solid oxide fuel cells are also fast gaining popularity. These contain solid oxides or ceramic electrolytes, which are far more stable and offer higher efficiency at relatively lower costs, contributing to their rising popularity as a fuel cell of preference for end users in the stationary fuel cell market. By value, they accounted for ~50% of the total share of the stationary fuel cell market in 2018, and this share is expected to expand at a value CAGR of ~13% over the forecast period, from 2019 to 2027.
Commercial Applications of Stationary Fuel Cells to Drive Market
Stationary fuel cells have found application in various sectors for primary as well as back-up power generation, and are generally based on combined heat and power (CHP) technology for both, heated water and air. They are being used to power a range of products, from individual computers to smaller single-family homes in residential applications, stores, buildings, and larger structures in the commercial sphere, and even data centers and power plants in the industrial sector.
However, the most prominent end user of the stationary fuel cell market in 2018 was the commercial sector, accounting for over half of the total share by value. It is anticipated that this segment is likely to expand at a CAGR of ~12% by revenue over the forecast period, and is estimated to be valued at ~US$ 4.4 Bn by the end of 2027. The myriad of benefits that stationary fuel cells offer, such as low emissions, reduced noise production, and requirement of less space, make them highly popular in the commercial sector, which has had a positive impact on the growth of the stationary fuel cell market as a whole.
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Fuel Cells Versus Conventional Fuels: A Side-by-side Comparison
Stationary fuel cells, which are increasingly replacing conventional power sources such as internal combustion engines and batteries, are considered more advantageous in various respects. The benefits of fuel cell include higher efficiency in comparison to conventional fuels, making it their biggest advantage over conventional fuels. They also generate less noise when compared to internal combustion engines, making them more suitable for commercial settings such as hospitals. Fuel cells run on renewable energy and eliminate the emission of greenhouse gases, which contributes greatly to their popularity around the world.
Fuel cells are also comparatively easier to maintain over their conventional fuel counterparts, owing to a fewer number of moving parts, also promoting their popularity in recent years. It is also a step forward in the global economy perspective, as they do not require fossil fuels and conventional sources of energy to produce electricity. This also reduces dependency on oil-producing countries, promoting energy security in the long run.
Criticism for Fuel Cell Technology
As an efficient provider of power, stationary fuel cells have been gaining traction in recent years, and are expected to continue on a similar vein until the end of the forecast period. However, in portable applications, particularly cars, fuel cells have faced criticism on several fronts, including viability, high costs of raw materials, and lack of commercial scalability.
This criticism has also negatively impacted the stationary fuel cell market, as high cost of raw materials and production are being cited as possible reasons hindering the growth of the market. Coupled with this, lack of infrastructure for the fuel cells to be incorporated into are also likely to have a negative impact on the growth of the stationary fuel cell market.
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