PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252701
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252701
Stationary Fuel Cell Market size was valued at USD 1,809.2 Million in 2022, expanding at a CAGR of 15.9% from 2023 to 2030.
Electrochemical reactions are carried out by fuel cells, aiding in the production of energy. Small devices are powered by stationary fuel cells, which also contribute to the production of electrical energy in big power plants. By connecting to the main grid, stationary fuel cells can be used to generate extra power or as an emergency backup that can be used in subsequent critical applications.
The fuel cell market is driven by the demand for clean energy production in the transportation and power sectors, the growth of distributed power systems, and the high efficiency of fuel cells compared to other power-generating systems. The lack of infrastructure for hydrogen and the high cost of fuel cell systems, however, limit the development of the global market. On the other hand, in the upcoming years, the global stationary fuel cell market will see new growth prospects due to technological developments in fuel cells, such as flexibility and improved operational efficiency, and rapid investment in fuel cell system R&D.
Based on the type, the proton exchange membrane fuel cell (PEMFC) segment is expected to dominate the market during the forecast period. Increased R&D spending and widespread adoption of zero-emission cars are the main factors driving the segment's expansion. Besides, the molten carbonate fuel cell (MCFC) segment is expected to grow at the highest CAGR over the forecast period. This is because liquid carbonate fuel cells, which use CO2 as a reactant, have developed. The acceleration of climate change brought on by greenhouse gases, particularly CO2, is a significant contributor to natural changes. As a result, the raw substance used to make MCFCs is molten carbonates.
Based on the capacity, the 5kW to 250kW segment held the largest market share in 2022 and is expected to continue the same pattern during the forecast period. The growth of combined heat and power is anticipated to be fueled by government incentives and programs, particularly in organizations for economic cooperation and development (OCED) in nations like the U.S., the UK, Germany, Japan, and others. This will have a significant impact on the advancement of 5kW to 250kW fuel cells.
The Asia Pacific is expected to dominate the market over the forecast period. Due to growing government concerns about zero-carbon emission standards in emerging nations like China, India, and South Korea, Asia-Pacific has incredible potential for the stationary fuel cell market. Fuel cells are expected to acquire traction from these industries during the forecast period due to the expansion of the automotive industry and the electricity and electronics sectors in China and India.
In February 2023, The Danish fuel cell maker and developer Blue World Technologies is now introducing the CellPackTM Stationary, a methanol fuel cell-based power generator, following the start of fuel cell series production in December 2022. The CellPackTM Stationary was created especially for the telecommunications sector, which annually deploys hundreds of thousands of smaller generators to maintain global connectivity. The CellPackTM Stationary can also be modified to meet other needs, such as providing electricity for low-quality or off-grid installations or for recharging electric vehicles.
This proposed research study on the DHA from the Algae market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Stationary Fuel Cell market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Stationary Fuel Cell market
The impact of COVID-19 on the Stationary Fuel Cell market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Stationary Fuel Cell market post-COVID will also be covered.
To give the users of this report a comprehensive view of the DHA from the Algae market, we have also included a competitive landscape and key innovator analysis for the Stationary Fuel Cell market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Stationary Fuel Cell market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Stationary Fuel Cell market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
Ceres Power Holdings plc
Panasonic Corporation
Plug Power Inc.
FuelCell Energy, Inc.
Ballard Power Systems Inc.
Hydrogenics Corporation
Intelligent Energy Limited
Doosan Corporation
Bloom Energy
Toshiba Corporation
SerEnergy A/S
Mitsubishi Hitachi Power Systems, Ltd.
FC TecNrgy Pvt Ltd.
Sainergy Tech, Inc.
Proton Exchange Membrane Fuel Cell (PEMFC)
Phosphoric Acid Fuel Cell (PAFC)
Molten Carbonate Fuel Cell (MCFC)
Solid Oxide Fuel Cell (SOFC)
Direct Methanol Fuel Cell (DMFC)
Others
GLOBAL STATIONARY FUEL CELL MARKET, BY CAPACITY
Less than 1kW
1 KW to 5kW
5kW to 250kW
250kW to 1MW
More than 1MW
Combined Heat and Power (CHP)
Prime Power
Uninterrupted Power Supply (UPS)
Others
GLOBAL STATIONARY FUEL CELL MARKET, BY INDUSTRY VERTICAL
Transportation
Defense
Oil and Gas
Utilities
Others
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA