The stationary fuel cell systems market is anticipated to reach USD 3.2 billion in 2022 and USD 20.7 million by 2032, increasing at a CAGR of 20.3% over that time.
Stationary fuel cell systems contribute to the generation of clean energy with no reliance on the grid. So many of these projects are predicted to offer the sector profitable growth prospects. This is predicted to drive a 7.48X increase in stationary fuel cell system sales between 2022 and 2032.
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Market Titans
- Plug Power Inc.
- Fuelcell Energy Inc.
- Doosan Fuel Cell America
- Ballard Power Systems
- POSCO ENERGY
- SOLIDpower Group
- Bloom Energy Corporation
- PowerCell
- AFC Energy Plc.
- Fuji Electric Co. Ltd
- Other
Key Highlights
- The U.S. is anticipated to account for the largest share in North America market, owing to increasing government emphasis on clean energy production.
- China is expected to register robust growth in East Asia market, favored by the presence of a large number of prominent market players in the country.
- India is forecast to emerge as a highly lucrative market in South Asia & Oceania, accounting for more than 2/5th of the revenue share over the assessment period.
- On the basis of technology, the proton-exchange membrane fuel cell (PEMFC) segment is estimated to account for over 1/3rd of the global sales by 2022.
- In terms of power range, the less than 1Kw segment is projected to hold over 38% of the demand share through 2032.
- Growing adoption of stationary fuel cells systems, owing to their ability to provide power at remote locations in absence of grid infrastructures is favoring the growth in the market.
- Increasing inclination towards stationary fuel cells systems for the production of power and heat attributed to their high reliability and efficiency is augmenting the sales across the combined heat and power segment.
Competitive Dashboard
As per Fact.MR, top 5 companies in the global stationary fuel cells system market are expected to, collectively, account for more than 29% of the total revenue share in 2022.
Leading players are adopting strategies such as mergers & acquisitions, collaborations, and partnerships with other companies to expand their market presence. Apart from this, new product development is the key strategy adopted by prominent companies to upscale their presence among consumers.
For instance,
- In July 2020, Plug Power Inc., an American electrical equipment manufacturing company, announced launching a line of zero-emission stationary fuel cell systems, “GENSURE HP FUEL CELL PLATFORM,” designed for large-scale, high power backup power applications. This assisted the company to strengthen their footprint in the U.S. market.
More Valuable Insights on Stationary Fuel Cell Systems Market
An exhaustive study published by Fact.MR offers a detailed analysis on the global stationary fuel cell systems market, analyzing forecast statistics for the assessment period 2022-2032. The study offers refines sales projections in stationary fuel cell system market with detailed segmentation:
- By Technology:
- MCFC
- PAFC
- PEMFC
- SOFC
- By Application:
- Prime Power
- Uninterrupted Power Supply (UPS)
- Combined Heat and Power (CHP)
- By Power Range:
- Less than 1Kw
- 5kW-250kW
- 250kW-1mW
- More than 1mW
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Key Questions Covered in the Stationary Fuel Cell Systems Market Report
- What is the global stationary fuel cell systems market worth in 2022?
- What is the demand outlook for stationary fuel cell systems market during the forecast period?
- What will be the CAGR for the stationary fuel cell systems market between 2022 and 2032?
- Who are the prominent players in the global stationary fuel cell systems market?
- Which is the most remunerative region in the stationary fuel cell systems market?
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