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Global Fuel Cell Market for CHP Applications 2016-2020

Global Fuel Cell Market for CHP Applications 2016-2020

About CHP Applications

A CHP system involves the simultaneous production of electricity and usable heat from a power plant or heat engine in a single, highly efficient process. It captures the energy produced during power generation and puts it to use for commercial and residential heat production. CHP technology is both cost-effective and environment-friendly. A commercial facility can use CHP to provide both heat and power through a single energy-efficient step, instead of purchasing electricity from utilities and separately producing thermal energy from onsite furnaces. CHP technology helps in preventing power losses during transmission and distribution of electricity through national grids or local distribution networks.

Technavio’s analysts forecast the global fuel cell market for CHP applications to grow at a CAGR of 24.96% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global fuel cell market for CHP applications for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of the FC-CHP products in the market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Fuel Cell Market for CHP Applications 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ACAL Energy
  • Bloom Energy
  • FuelCell Energy
  • Viessmann
Other prominent vendors
  • 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
  • Vaillant
Market driver
  • Increasing demand for efficient and cleaner technologies.
  • For a full, detailed list, view our report
Market challenge
  • Uncertainties associated with low crude oil prices.
  • For a full, detailed list, view our report
Market trend
  • Increase in R&D investments and activities.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Fuel Cell Market for CHP Applications 2016-2020

Technavio recognizes the following companies as the key players in the global fuel cell market for CHP applications: ACAL Energy, Bloom Energy, FuelCell Energy, and Viessmann.

Other prominent vendors in the 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.

Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increase in R&D investments and activities. Companies are making huge investments in R&D in the fuel cell industry. Many universities and governmental organizations are engaged in research and demonstration projects of new technologies in the industry. For instance, the National Energy Foundation is working with New Energy and Industrial Technology Development Organization (NEDO) in the UK on various fuel cell research projects. NEDO has 11 fuel cell projects involved in the development and validation of polymer electrolyte fuel cell (PEFC) technology for small-scale systems, hydrogen technology, SOFC for large-scale systems, and infrastructure development. The National Renewable Energy Laboratory in the US has a hydrogen and fuel cell research section that is dedicated to addressing the national issues of fuel cell technologies. It focuses on projects related to fuel cell technology validation, safety codes, standard analysis, and hydrogen production, delivery, and storage.”

According to the report, one of the primary drivers in the market is increasing demand for efficient and cleaner technologies. Thermal power plants produce excess heat, and this waste heat is usually released into the atmosphere through cooling towers and other means, which results in lower power generation efficiency. In the US, the efficiency of electricity generation has remained stagnant at about 35% since the 1960s, with the total amount of heat wasted in this process being more than Japan's overall power generation. The growing demand for electricity and the consciousness toward using cleaner energy sources are driving the need for CHP, where the waste heat is captured to either produce heat for industries and businesses or to power turbines to generate more electricity.

Further, the report states that one major challenge in the market is competition from alternative technologies. FC-CHP is a highly competitive market with many manufacturers, both local and international, facing stiff competition from not only other fuel cell manufacturers but also from alternative technologies such as steam turbines, gas/micro turbines. These technologies have already established themselves, making it a challenge for FC-CHP to gain wider acceptance. For instance, gas turbines are in use as a CHP solution in a wide range of applications in the industrial, commercial, and residential sectors. However, fuel cell technology still lags behind in terms of adoption; this factor, together with the availability of other renewable technologies and the lead that conventional technologies have established owing to their availability in different size and power ranges, make it a challenge for vendors to establish a competitive fuel cell-based business.

Companies Mentioned

ACAL Energy, Bloom Energy, FuelCell Energy, Viessmann, 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, Vaillant.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Types of FC-CHP by technology
      • Table Types of fuel cells by end-user applications
      • Table Major countries in each region
    • Top-vendor offerings
      • Table Key product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Market overview
      • Table Comparison of fuel cell technologies
      • Table Fuel cell applications
      • Table Types of SOFCs
      • Table Schematic diagram of SOFC
    • Market size and forecast
      • Table Global fuel cell market for CHP applications 2015-2020 (MW shipments)
      • Table FC-CHP classification
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global fuel cell market for CHP applications by application 2015-2020
      • Table Global fuel cell market for CHP applications by application 2015-2020 (%)
      • Table Global fuel cell market for CHP applications by application 2015-2020 (MW shipments)
    • Global fuel cell market for CHP applications in non-residential sector
      • Table Global fuel cell market for CHP applications in non-residential sector 2015-2020 (MW shipments)
      • Table Typical CHP models used in commercial and industrial applications
      • Table Typical industrial applications using FC-CHP systems
      • Table Incentives for CHP systems as per SGIP 2016
    • Global fuel cell market for CHP applications in residential sector
      • Table Global fuel cell market for CHP applications in residential sector 2015-2020 (MW shipments)
      • Table Energy uses in typical homes in various countries 2015 (%)
      • Table Residential fuel cells installed under ENE-FARM project in Japan 2009-2015 (number of units)
  • Market segmentation by product type
    • Global fuel cell market for CHP applications by product type 2015-2020
      • Table Global fuel cell market for CHP applications by product type 2015-2020 (%)
      • Table Global fuel cell market for CHP applications by product type 2015-2020 (MW shipments)
    • Global fuel cell market for CHP applications by PEMFC
      • Table Global fuel cell market for CHP applications by PEMFC 2015-2020 (MW shipments)
      • Table PEMFC versus SOFC installation in m-CHP applications in Japan 2009-2015
    • Global fuel cell market for CHP applications by MCFC
      • Table Global fuel cell market for CHP applications by MCFC 2015-2020 (MW shipments)
    • Global fuel cell market for CHP applications by SOFC
      • Table Global fuel cell market for CHP applications by SOFC 2015-2020 (MW shipments)
      • Table Efficiency of SOFC versus other fuel cell technologies
      • Table Effect of various gaseous reactants on different types of fuel cells
    • Global fuel cell market for CHP applications by PAFC
      • Table Global fuel cell market for CHP applications by PAFC 2015-2020 (MW shipments)
  • Geographical segmentation
    • Global fuel cell market for CHP applications by geography 2015-2020
      • Table Global fuel cell market for CHP applications by geography 2015-2020 (%)
      • Table Global fuel cell market for CHP applications by geography 2015-2020 (MW shipments)
    • Fuel cell market for CHP applications in APAC
      • Table Fuel cell market for CHP applications in APAC 2015-2020 (MW shipments)
      • Table Fuel cell development roadmap in South Korea 2009-2030
    • Fuel cell market for CHP applications in Americas
      • Table Fuel cell market for CHP applications in Americas 2015-2020 (MW shipments)
      • Table US DoE funding opportunity announcement (FOA): Areas of interest
    • Fuel cell market for CHP applications in EMEA
      • Table Fuel cell market for CHP applications in EMEA 2015-2020 (MW shipments)
      • Table Efficiency resulting from using fuel cells in ene.field scheme
  • Key leading countries
    • Table Japan fuel cell development roadmap 2015-2040
  • Market drivers
    • Increasing demand for efficient and cleaner technologies
      • Table Typical stack size of different fuel cell technologies
      • Table GHG mitigation production evaluation
    • Rising adoption of fuel cell products
      • Table Fuel cell fuel sources and applications
      • Table Main applications in the stationary FC market (%)
      • Table Efficiency rating of some commonly installed CHP sources
    • Growing government incentives for FC-CHPs
      • Table Major purchase incentives for fuel cell projects in different countries
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Competition from alternative technologies
      • Table Comparison of CHP technologies
    • Uncertainties associated with low crude oil prices
      • Table Global crude oil prices 2007-2016 ($/bbl.)
    • End of subsidies will raise fuel cell costs
      • Table Cost comparison of fuel cells versus gas engines in CHP Systems
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Increase in M&A in fuel cell industry
    • Reduction in prices of FC-CHPs
      • Table FC-CHP prices 2007-2014 ($/unit for a 1,000 W power output)
      • Table SOFC CHP system cost for 5 kW and 25 kW ($)
    • Increase in R&D investments and activities
      • Table NETL SOFC programs
      • Table Organizations involved in fuel cell components R&D in China
      • Table US Fuel Cell Technologies Office R&D budget FY2015-FY2017 ($ millions)
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • ACAL Energy
      • Table ACAL Energy: FC-CHP portfolio
    • Bloom Energy
      • Table Bloom Energy: Product segmentation
      • Table Bloom Energy: Product portfolio
    • FuelCell Energy
      • Table FuelCell Energy: Product segmentation
    • Viessmann
      • Table Viessmann: Product portfolio
  • Appendix
    • List of abbreviations
  • Explore Technavio

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