The Europe fuel cell technology market is suggested to have reached a value of around $150.4 million by the end of 2013, and is forecast to hit a total of $613.7 million by 2018. This suggests a CAGR growth rate of 32.5% between 2013 and 2018.
Germany is the leading country in the European fuel cell market. Many universities, research institutes and companies are involved in the fuel cell business, both in R&D and commercializing the market. After Germany U.K. is the most active country in terms of hydrogen and fuel cell technology. The Government of U.K. has launched 'renewable heat incentive' which includes provisions for CHP units and aerobic digestion to produce biogas for heat production. It also runs money-back feed-in tariff (FIT) for household fuel cell installations for encouraging the demand for fuel cells.
In the current European fuel cell market, the stationary Household, telecom and backup applications dominates market demand on the basis of market size and revenues. The demand is projected to increase heavily due to the increased power backup and household demand. Telecom, automobile and power backup industry acts as the parent market of fuel cell industry. Its growth and demand is highly influenced by the parent market. Off grid applications like providing backup power for telecommunication infrastructure is provided by the fuel cells. Stationary fuels cells are used for these applications and have already been commercialized thus demand is further expected to rise owing to this commercialization.
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