Price reductions leading to wider adoption of fuel cells in Asia Pacific

By Editor

Share

Price reductions leading to wider adoption of fuel cells in Asia Pacific


By Greentech
Lead Team: Prices for fuel cell-based systems, across a range of applications,
are expected to decline significantly in the next few years, removing a
critical barrier to adoption.

The market
for fuel cells in Asia Pacific will reach $6.7 billion by 2017, up from just
$52.8 million in 2011.

“To date,
the majority of fuel cell technology development for residences in Asia Pacific
has centered on resCHP. The Japanese fuel cell players are already in the
commercial phase, and Korean providers also have concrete market entry plans to
commercialize resCHP and off-grid power plants. Prices have been declining
steadily, and manufacturers’ pricing strategies are expected to result in further
decreases,” said senior analyst Andy Bae, Pike Research.

While
stationary fuel cells represent the largest segment for the fuel cell market in
the region, fuel cell vehicles and fuel cells for portable power applications
hold strong potential as well. Interest in fuel cell vehicles from government
and industry players, including automobile component makers, in Japan, Korea,
and China is strong and growing.

Auto OEMs
and governments have coalesced around 2015 as the date for the first commercial
fuel cell vehicles to reach the market. Consequently, 2012-2015 will be an
important period for those looking to develop leadership in the sector.

Pike
Research said Japan began offering commercial solutions for residential
combined heat and power (resCHP) fuel cells with its ENE-FARM project in 2009.
Korea has followed suit with hundreds of test trials for its Residential CHPs
Monitoring Project.

Meanwhile,
China has been driving research and innovation in fuel cell technology through
government, academic, and enterprise initiatives, focusing, for the most part,
on fuel cell transportation.

Although
their programs are primarily aimed at meeting increased demand for residential
energy and complying with national policies for a greener society, providers in
these countries also hope to become the global leaders in this arena – both in
terms of technology development and price.


[email protected]

Latest News

Related