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North American Stationary Fuel Cell Market
Frost & Sullivan, Dec 2009, Pages: 71
This research service studies the North American stationary fuel cell market giving detailed market analysis of key growth drivers and restraints. The study also discusses the industry challenges and gives detailed forecasts. The study also discusses some of the more strategic issues that affect the fuel cell market.
Research Overview
This Frost & Sullivan research service titled North American Stationary Fuel Cell Market provides a comprehensive analysis of the North American stationary fuel cell market including fuel cell used for stationary power generation applications. It also provides an analysis of the factors driving the growth, challenges affecting the industry, and opportunities within the market in the long-term. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: proton exchange membrane (PEM), solid oxide (SOFC), phosphoric acid (PAFC), and molten carbonate (MCFC).
Market Overview
Greater Focus on Eco-friendly Solutions Drives the North American Stationary Fuel Cell Market
A fuel cell is an electrochemical conversion device that produces electricity by converting the chemical energy of fuels directly into power. Recently, there has been greater awareness among the government, organizations, and the public to reduce greenhouse gas (GHG) emissions from on-road and off-road engines. This awareness could be attributed to the stringent emission regulations put forth by various regulatory bodies in the United States. The use of fuel cells for meeting the power demand offers substantial potential for enhanced energy efficiency and reduced environmental impact compared to conventional power generation sources.
Technological developments towards reliable and affordable products are the current trend in the North American market. “End users such as hospitals and telecommunications are sensitive to power supply interruptions,” says the analyst of this research. “Since electricity is indispensable and the U.S. grid support is becoming unreliable, fuel cells are a viable solution to provide uninterrupted power supply.” Proton exchange membrane fuel cell (PEMFC) technology with its high efficiency and low operating temperature is considered to be the future of fuel cells for back-up power applications in the North American market. Companies are focusing on continuously enhancing the efficiency and the reliability of fuel cells for various applications. The projected compound annual growth rate (CAGR) for the North American stationary fuel cells market is about 34.5 percent.
Reducing the Cost of the Fuel Cell System to Step-up the Demand for Fuel Cells
The lack of awareness among the potential users on the benefits of fuel cells is a major barrier, considerably affecting market growth. Fuel cells offer high efficiency, reduced GHG emissions, minimal mechanical wear and tear, are noiseless, and without vibrations. Despite these environmental and socio-economic advantages, fuel cell technology is not yet widely used in North America. “Although the cost of fuel cells has decreased significantly, the price is still considered steep in terms of gaining commercial support,” explains the analyst. “Usage of precious metals as catalysts and expensive polymer membranes are the major reasons for such high production costs.”
Fuel cell manufacturers believe that additional demonstration projects are likely to help in stepping-up the awareness on the benefits of using fuel cells. Focusing on reducing the complexity of the systems, increasing the power density, and streamlining the production processes will help fuel cell manufacturers to bring down the escalating production costs. “Forming alliances with universities and reducing the cost of the fuel cell system could increase the demand for the fuel cell in the North American market in the long-term,” concludes the analyst.
Technologies
The following technologies are covered in this research:
- Proton exchange membrane (PEM)
- Solid oxide (SOFC)
- Phosphoric acid (PAFC)
- Molten carbonate (MCFC)
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