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Fuel Cell Technology and Market Potential 2008
Energy Business Reports, July 2008, Pages: 129
Fuel cells provide direct current (DC) voltage that can be used to power motors, lights, or electrical appliances. Like batteries, fuel cells can be recharged while operating. They compete with other types of energy conversion devices such as gas turbines in power plants, gasoline engines in vehicles, and batteries in laptop computers. Fuel cells have the potential to become the dominant technology for automotive engines, power stations, and power packs for portable electronics.
The percentage of fuel cell units manufactured and sold by technology type has remained fairly steady in recent years. Overall, the market continues to be dominated by PEMFC, the most flexible and market-adaptable fuel cell technology. However, other types of fuel cells are slowly gaining acceptance, creating a more dynamic and robust industry. At the larger end of the fuel cell scale, molten carbonate cells are dominant, with FuelCell Energy selling the most MCFCs. Solid oxide cells are still struggling to make the jump from the research lab to the market and to find practical applications.
Phosphoric acid fuel cell unit numbers remained practically unchanged in 2005, and thus the cumulative market share went down, but this trend is expected to change within two years when UTC releases a new enhanced PAFC with a lifespan of 80,000 operating hours, the highest in the market.
A relatively new battleground is the residential or small stationary market. This is, in reality, two separate markets, and some companies are entering the fray with a focus on either back-up and premium power or on residential power, rather than trying to sell into both markets. The main technology is proton exchange membrane, and a majority of units sold through 2005 were PEMFC. SOFC has a small but significant market share in this sector, and there has been talk of early commercialization by several SOFC companies.
Finally, the small portable and portable electronic markets are dominated almost entirely and in equal shares by PEMFC and DMFC technologies. Currently, DMFC has an edge, due to the market activities of one or two large companies. Several other technologies are also under investigation for use in small portable and portable electronic devices.
Emerging fuel cell applications in the areas of transportation, industry, the home, and consumer products speak to the enormous potential for this technology. Another important application for renewable energy is in the area of space travel. Since fuel cells do not rely on combustion, and thus do not produce air pollutants such as NOx (nitrogen oxides), SO2 (sulfur dioxides), or particulates, fuel cell use can substantially reduce pollution caused by emissions as well as reduce oil dependency. Prices for operation will remain vulnerable to natural gas supplies, as most fuel cells currently employ natural gas, but this will change if/when a hydrogen economy is established
Updated for 2008
'The global fuel cell industry is expected to generate more than $18.6 billion in 2013. Fuel cell sales will come from three main market applications: automotive, stationary, and portables. projected sales could generate nearly $35 billion if market conditions improved for automotive fuel cells.'
This comprehensive new report explains the fuel cell market, identifies the current and future state of the fuel cell industry, and details industry initiatives and potential.
It includes a special section on Micro Fuel Cell Technology and Potential.
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