Global Fuel Cell Market for CHP Applications 2016-2020

Outlook of the global fuel cell market for combined heat and power (CHP) applications

According to the analysts at Technavio, the global fuel cell market for combined heat and power (CHP) applications will grow at an impressive CAGR of almost 25% by 2020. The rising adoption of fuel cell products is a critical factor responsible for this fuel cell market for CHP application’s growth over the next few years. It has been observed that fuel cell shipments for stationary applications have continually grown over the years, powering thousands of telecom towers and generating clean energy in buildings and the residential sector. This recent increase in the adoption of fuel cells can be attributed to the ability of fuel cells to use diverse fuel sources. The rising demand for fuel cells can also be attributed to benefits such as its ability to generate grid-independent power, as they are cleaner, operate silently, and offer higher efficiency than other related technologies. Some of the different areas where fuel cells are used in stationary applications include prime power, CHP, telecom towers, and in remote monitoring.

According to the fuel cell market for CHP applications market research, in terms of geography, APAC dominated the market in 2015. Though the market share for this region is envisaged to witness a slight decline by 2020, it will continue to be the largest market for fuel cells owing to high investments in fuel cell devices and advances in technology. Also, factors such as the rising need to reduce energy consumption across various sectors will result in this market’s strong growth in APAC during the forecast period.

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Technavio's industry research report titled - Global Fuel Cell Market for CHP Applications will help you-

• Identify latent opportunities and explorative solutions in the fuel cell market for CHP applications
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, all permutations and combinations inclusive

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Competitive landscape and key vendors 

This market is in its nascent stage and is characterized by the presence of several vendors across the globe. The introduction of new technologies and increased investments in the market are likely to intensify the competition among the players. However, in several developing and underdeveloped countries, local or regional vendors dominate the market.

Leading vendors in this market are -

• ACAL Energy
• Bloom Energy
• FuelCell Energy
• Viessmann

Other prominent vendors in this market are Aisin Seiki, Baxi (BDR Thermea), Ceres Power, Doosan Fuel Cell, Elcore, ENEOS Celltech (JX Nippon Oil & Energy), EnerFuel, Haldor Topsøe, HEXIS, Kyocera, Panasonic, SOLIDpower, Toshiba, and Vaillant.

Segmentation by application and analysis of the fuel cell market for CHP applications

• Residential
• Non-residential

During 2015, it was observed that the non-residential segment dominated this market. Much of this market segment’s growth can be attributed to factors like the advent of strict environmental regulations, strong focus on decentralized energy, growing electricity demand, and increasing environmental awareness.

Product-based segmentation and analysis of the fuel cell market for CHP applications

• PEMFC (Proton exchange membrane fuel cells)
• MCFC (Molten carbonate fuel cells)
• SOFC (Solid oxide fuel cells)
• PAFC (Phosphoric acid fuel cells)

During 2015, the PEMFC product segment dominated this market and is anticipated to retain its dominating hold over the market until the end of 2020. PEMFCs have several advantages such as fast start-up time, low operating temperature, compactness, and sustainable operations with high energy density and low emissions. Such benefits have made PEMFC the leading type of fuel cell for use in automotive applications, distributed power generation, and portable applications.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global fuel cell market for CHP applications?
• What are the key market trends impacting the growth of the global fuel cell market for CHP applications?
• What are the challenges to market growth?
• Who are the key vendors in the global fuel cell market for CHP applications?
• What are the market opportunities and threats faced by the vendors in the global fuel cell market for CHP applications?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global fuel cell market for CHP applications?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Fuel Cell Market 2016-2020
• Global Fuel Cell Market in the Automotive Industry 2015-2019
• Global SOFC Market 2015-2019