Global Stationary Fuel Cell Market is valued at approximately USD 3.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 20.3 % over the forecast period 2023-2030. stationary fuel cell is a type of fuel cell system designed for stationary or continuous power generation, as opposed to portable fuel cells used in mobile applications. Fuel cells are electrochemical devices that convert the chemical energy of a fuel, typically hydrogen, and an oxidizer, usually oxygen from the air, into electricity and heat. Stationary fuel cells are primarily used to provide clean and efficient power in various stationary applications. The Stationary fuel cell market is expanding because of factors such as increasing demand for clean energy sources, cohesive government incentives and regulations, and rising investments in infrastructure, such as hydrogen refueling stations and fuel cell manufacturing facilities, have played a role in advancing the stationary fuel cell market.
Moreover, increasing concerns about environmental sustainability and the need to reduce greenhouse gas emissions have driven the demand for clean and renewable energy sources. Stationary fuel cells, which can produce electricity with lower emissions compared to traditional fossil fuels, have gained attention in this context. According to a 2021 report published by The International Energy Agency, the global fuel cell market is anticipated to experience growth due to a growing demand for alternative and clean energy sources. The report highlights that renewable energy usage witnessed a 3% increase in 2020, primarily driven by a nearly 7% growth in electricity generation from renewable sources. Furthermore, it is projected that renewable electricity generation expected expand by over 8% in 2021, reaching a total of 8,300 TWh. In addition, technological advancements in fuel cells and rapid investment in R&D of fuel cell systems would create lucrative growth opportunities. However, the high cost of fuel cell systems stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Stationary Fuel Cell Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market over the forecast period owing to the well-established energy infrastructure and emphasis on renewable energy sources in the region creating favorable conditions for the adoption of stationary fuel cell systems. Asia Pacific is the fastest growing region over the forecast period, owing to factors such as growing population, rapid urbanization, and the rising demand for reliable and sustainable power generation in the region.
Major market player included in this report are:
- Fuji Electric Co Ltd.
- Fuelcell Energy Inc.
- Denso Corporation
- Toshiba Energy Systems & Solutions Corporation
- Plug Power Inc.
- Posco Energy Co., Ltd.
- Mitsubishi Hitachi Power Systems Ltd
- Horizon Fuel Cell Technologies Pte Ltd.
- Ballard Power Systems Inc.
- Aisin Corporation
Recent Developments in the Market:
- In May 2021, Fuelcell Energy Inc. secured USD 8 million in funding from the US Department of Energy (DOE) for the ARPA-E project aimed at advancing the development of highly efficient Solid Oxide Fuel Cell (SOFC) devices for power generation.
Global Stationary Fuel Cell Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Technology, Application, Power Range, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
By Application:
- Prime Power
- Uninterrupted Power Supply (UPS)
- Combined Heat and Power (CHP)
By Power Range:
- Less than 1Kw
- More than 1mW
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Stationary Fuel Cell Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Stationary Fuel Cell Market, by Technology , 2020-2030 (USD Billion)
- 1.2.3. Stationary Fuel Cell Market, by Application , 2020-2030 (USD Billion)
- 1.2.4. Stationary Fuel Cell Market, by Power Range , 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Stationary Fuel Cell Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Stationary Fuel Cell Market Dynamics
- 3.1. Stationary Fuel Cell Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand for clean energy sources
- 3.1.1.2. Cohesive government initiative and regulations
- 3.1.2. Market Challenges
- 3.1.2.1. High cost of fuel cell systems
- 3.1.3. Market Opportunities
- 3.1.3.1. Technological advancements in fuel cells
- 3.1.3.2. Rapid investment toward R&D of fuel cell systems
Chapter 4. Global Stationary Fuel Cell Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Stationary Fuel Cell Market, by Technology
- 5.1. Market Snapshot
- 5.2. Global Stationary Fuel Cell Market by Technology , Performance - Potential Analysis
- 5.3. Global Stationary Fuel Cell Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
- 5.4. Stationary Fuel Cell Market, Sub Segment Analysis
- 5.4.1. MCFC
- 5.4.2. PAFC
- 5.4.3. PEMFC
- 5.4.4. SOFC
Chapter 6. Global Stationary Fuel Cell Market, by Application
- 6.1. Market Snapshot
- 6.2. Global Stationary Fuel Cell Market by Application , Performance - Potential Analysis
- 6.3. Global Stationary Fuel Cell Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 6.4. Stationary Fuel Cell Market, Sub Segment Analysis
- 6.4.1. Prime Power
- 6.4.2. Uninterrupted Power Supply (UPS)
- 6.4.3. Combined Heat and Power (CHP)
Chapter 7. Global Stationary Fuel Cell Market, by Power Range
- 7.1. Market Snapshot
- 7.2. Global Stationary Fuel Cell Market by Power Range , Performance - Potential Analysis
- 7.3. Global Stationary Fuel Cell Market Estimates & Forecasts by Power Range 2020-2030 (USD Billion)
- 7.4. Stationary Fuel Cell Market, Sub Segment Analysis
- 7.4.1. Less than 1Kw
- 7.4.2. More than 1mW
Chapter 8. Global Stationary Fuel Cell Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Stationary Fuel Cell Market, Regional Market Snapshot
- 8.4. North America Stationary Fuel Cell Market
- 8.4.1. U.S. Stationary Fuel Cell Market
- 8.4.1.1. Technology breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Application breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Power Range breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Stationary Fuel Cell Market
- 8.5. Europe Stationary Fuel Cell Market Snapshot
- 8.5.1. U.K. Stationary Fuel Cell Market
- 8.5.2. Germany Stationary Fuel Cell Market
- 8.5.3. France Stationary Fuel Cell Market
- 8.5.4. Spain Stationary Fuel Cell Market
- 8.5.5. Italy Stationary Fuel Cell Market
- 8.5.6. Rest of Europe Stationary Fuel Cell Market
- 8.6. Asia-Pacific Stationary Fuel Cell Market Snapshot
- 8.6.1. China Stationary Fuel Cell Market
- 8.6.2. India Stationary Fuel Cell Market
- 8.6.3. Japan Stationary Fuel Cell Market
- 8.6.4. Australia Stationary Fuel Cell Market
- 8.6.5. South Korea Stationary Fuel Cell Market
- 8.6.6. Rest of Asia Pacific Stationary Fuel Cell Market
- 8.7. Latin America Stationary Fuel Cell Market Snapshot
- 8.7.1. Brazil Stationary Fuel Cell Market
- 8.7.2. Mexico Stationary Fuel Cell Market
- 8.8. Middle East & Africa Stationary Fuel Cell Market
- 8.8.1. Saudi Arabia Stationary Fuel Cell Market
- 8.8.2. South Africa Stationary Fuel Cell Market
- 8.8.3. Rest of Middle East & Africa Stationary Fuel Cell Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Fuji Electric Co Ltd.
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Fuelcell Energy Inc.
- 9.3.3. Denso Corporation
- 9.3.4. Toshiba Energy Systems & Solutions Corporation
- 9.3.5. Plug Power Inc.
- 9.3.6. Posco Energy Co., Ltd.
- 9.3.7. Mitsubishi Hitachi Power Systems Ltd
- 9.3.8. Horizon Fuel Cell Technologies Pte Ltd.
- 9.3.9. Ballard Power Systems Inc.
- 9.3.10. Aisin Corporation
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption