SBI Reports has been leading industrial market research reporting for more than a decade. The brand established SBI Energy to address the complex nature of the Energy and Resources industry. SBI Energy reports capture data vital to emerging energy market sectors on a global scale. Growth of energy technology, manufacturing, construction, transportation and investment is exciting in its innovations and opportunities, and integral to the advancement of security and science.
Industry experts offer a wide range of predictions about which sectors will win the lion’s share of the fuel cell market in the coming years, but stationary applications has been mentioned as one of the most promising options.
SBI Energy estimates that the small stationary sector has historically been the leader in the industry since 2005. But niche transport (forklifts and other materials handling vehicles) was a break-out market in 2008 and 2009, and portable electronics are expected to gain momentum in the coming years, as well.
These experts are less certain about the future of stationary applications in residential and small commercial settings. Because the electric grid reaches practically everyone and electricity is cheap, there is little that seems to compel residential users to make the switch to fuel cell power.
While the industry watchers may differ in their predictions of the market size and winning applications, most agree that in 2010, we are on the cusp of a breakthrough in the fuel cells sector.
SBI research indicates that the fuel cell market will reach $598 million in 2010, then grow to $1.22 billion by 2014, a CAGR of 20%. At the same time, unit sales will increase by a CAGR of 37%.
Looks like ‘fuel cell’ will become a household phrase over the next few years.
More on Fuel Cell Technologies Worldwide»