Market Research Reports, Inc. has announced the addition of “Fuel Cells - Global Market Size, Segmentation, Competitive Landscape, Regulations and Key Country Analysis to 2020” research report to their offering.
Lewes, DE -- (SBWIRE) -- 12/12/2013 -- The stationary fuel cell market is forecast to show massive growth, thanks to increasing interest in the technology and government subsidy programs, climbing from $390m in 2012 to $7.52 billion by 2020, at a Compound Annual Growth Rate of 44.7%. According to the latest report, the use of fuel cells is expected to increase significantly in several applications. The most important of these will be Combined Heat and Power systems, vehicles, material handling equipment, Auxiliary Power Units and portable charges for consumer electronics.
Additionally, stationary fuel cell installation is expected to jump from 186.9 Mega-Watts (MW) in 2013 to 6,266 MW by 2020, due to expected decreases in costs for set up, shipment and installation. In fact, report forecasts the cost of a stationary fuel cell system to decrease by more than 50%, from $3,000 per Kilowatt (kW) in 2013 to $1,200 kW by 2020.
The global fuel cell market is currently in its nascent stages but is one of enormous growth prospects and potential. The use of fuel cells is expected to increase significantly in several applications, most important of them being residential Combined Heat and Power (CHP) systems, vehicles, material handling equipment, Auxiliary Power Units (APUs) and portable chargers for consumer electronics. Currently, stationary fuel cells, including small residential systems and larger industrial and megawatt (MW) level systems contribute the most to the annual fuel cell shipments and installations each year. However, it is expected that by 2020, FCEVs would contribute the most in terms of capacity of fuel cells installed annually.
“Fuel Cells - Global Market Size, Segmentation, Competitive Landscape, Regulations and Key Country Analysis to 2020” report provides in depth analysis on global fuel cell market. The report also provides market analysis of key countries - US, UK, Germany, Republic of Korea, and Japan. The research provides historical and forecast data to 2020 for installed capacity (in MW), and market size (in $m/$bn) globally and for each of the key countries. The report also provides the market share of major fuel cell manufacturers globally and gives a brief description of each of these manufacturers. The report also discusses the drivers and restraints for the global fuel cell market.
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