Though a good Number of Companies left the Fuel Cell Business due to low demand, this is all set to reverse mainly due to the increased interest from both the U.S. and International Governments for cleaner and more resilient power production.
Pike Research(link), has said that over the past year, the stationary fuel cell industry has experienced healthy growth due to a surge in U.S. and foreign government interest in reliable and resilient energy sources. The Research firm indicates that the global market potential for fuel cells may hit or even surpass the 3GW mark in 2013, and the fuel cell market is predicted to reach 50 GW by 2020. Also the Shipments of stationary fuel cells 21,000/Annum in 2012 to more than 350,000/Annum by 2022.
“While a number of companies have exited the fuel cell sector in the last year, government mandates for cleaner and more resilient power production are fueling a sharp increase in market demand,” says research director Kerry-Ann Adamson. “At the same time, a number of new business models are being adopted in order to meet this demand, including energy service companies, independent power producers, and cooperative energy companies. These are making stationary fuel cells a much more standardized option that can be considered as part of the overall energy mix.”
Overall, in terms of addressing market need, 2012 has seen a growing realism entering the stationary fuel cell industry, according to the report. Through late 2011, many fuel cell providers continued to assume that if they created a product, the market would change its requirements and adopt the new system. This unrealistic assessment of the market has subsided, and companies are creating products for markets where real needs exists—using locally available fuels, systems created to be maintained by local engineers, and systems that do not require very limited operating temperature ranges.
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Article Published by Rahul R Prabhu
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