North America Prime Power Stationary Fuel Cell Market Size - By Capacity (< 10 kW, > 10 kW - 50 kW, > 50 kW - 100 kW, > 100 kW), By Application (Residential, Commercial, Industry/Utility), 2023

Description

List of Tables

North America Prime Power Stationary Fuel Cell Market is expected to grow at a 7.4% CAGR during 2023-2032 driven by a heightened focus on environmental sustainability, government initiatives promoting clean energy, and advancements in fuel cell technology.

According to an article by International Energy Agency in 2023, clean energy investment outpaced fossil fuels, surging by 24% from 2021 to 2023. In 2023, low-emissions power is dominating, constituting 90% of total electricity generation investment, with solar leading at over USD 1 billion per day. The increasing awareness and commitment to environmental sustainability are pushing industries and governments to adopt cleaner energy sources. Stationary fuel cells play a pivotal role in achieving these goals, as they provide efficient and low-emission power generation solutions.

Additionally, government initiatives and financial incentives aimed at promoting the adoption of clean energy technologies, along with the technological advancements in fuel cell technology are also shaping the market's growth trajectory.

North America prime power stationary fuel cell market is classified based on capacity, application, and region.

The >50 kW segment is anticipated to register sustained growth through 2032 driven by rising popularity across various industries due to their ability to meet higher power demands. It is preferred by industrial complexes, data centers, and commercial establishments for a reliable and sustainable source of power. The scalability and versatility of these larger fuel cells make them well-suited for applications where a robust and consistent power supply is needed.

The residential application segment is set to gain traction during the forecast period driven by energy security, lower environmental impact, and the desire for greater energy independence. These fuel cells provide a decentralized and clean energy source for homes, reducing dependence on traditional grid systems and contributing to a more resilient and eco-friendly energy infrastructure.

Canada prime power stationary fuel cell industry segment is expected to witness expansion through 2032 driven by a commitment to sustainable energy practices alongside vast natural resources. Government initiatives, including generous incentives and subsidies, are encouraging businesses and consumers alike to adopt stationary fuel cells. Moreover, the market is witnessing increased investments in R&D, fostering technological innovation and the deployment of advanced fuel cell solutions.

Product Code: 7322

Chapter 1 Methodology & Scope

1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Unpaid sources

Chapter 2 North America Prime Power Stationary Fuel Cell Industry Insights

2.1 Industry ecosystem analysis
- 2.1.1 Vendor matrix
2.2 Regulatory landscape
2.3 Industry impact forces
- 2.3.1 Growth drivers
  - 2.3.1.1 Efforts to foster the growth of a sustainable hydrogen-based economy
  - 2.3.1.2 Reliable solutions suitable for power applications
  - 2.3.1.3 Rising requirement for continuous power in both permanent and off-grid settings
- 2.3.2 Industry pitfalls & challenges
  - 2.3.2.1 Lack of infrastructure
2.4 Growth potential analysis
2.5 Porter's Analysis
- 2.5.1 Bargaining power of suppliers
- 2.5.2 Bargaining power of buyers
- 2.5.3 Threat of new entrants
- 2.5.4 Threat of substitutes
2.6 PESTEL Analysis

Chapter 3 Competitive Benchmarking

3.1 Innovation & sustainability landscape
3.2 Competitive landscape, 2022
- 3.2.1 Strategic dashboard

Chapter 4 North America Prime Power Stationary Fuel Cell Market, By Capacity

4.1 Key capacity trends
4.2 < 10 kW
4.3 > 10 kW - 50 kW
4.4 > 50 kW - 100 kW
4.5 > 100 kW

Chapter 5 North America Prime Power Stationary Fuel Cell Market, By End-Use

5.1 Key end-use trends
5.2 Residential
5.3 Commercial
5.4 Industry/Utility

Chapter 6 North America Prime Power Stationary Fuel Cell Market, By Country

6.1 Key country trends
6.2 U.S.
6.3 Canada

Chapter 7 Company Profiles

7.1 Cummins Inc.
7.2 Ballard Power Systems
7.3 PLUG POWER INC.
7.4 NUVERA FUEL CELLS, LLC.
7.5 Bloom Energy
7.6 SFC Energy AG
7.7 Aris Renewable Energy
7.8 GenCell Ltd.
7.9 Fuel Cell Energy, Inc.
7.10 Fuji Electric Co., Ltd.