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Asia Pacific Stationary Fuel Cell Market Size - By Capacity (< 3 kW, 3 kW – 10 kW, 10 kW – 50 kW, > 50 kW), By End Use (Residential, Commercial, Industrial/Utility), By Application (Prime Power, CHP) & Forecast, 2023 – 2032

  • Report ID: GMI7301
  • Published Date: Nov 2023
  • Report Format: PDF

Asia Pacific Stationary Fuel Cell Market Size

Asia Pacific Stationary Fuel Cell Market was valued at USD 1.1 billion in 2022 and is s estimated to register a CAGR of over 16.1% from 2023 to 2032. Growing interest in clean and efficient energy solutions along with shifting focus on energy security and resilience primarily in areas prone to natural disasters, grid instability, or remote regions with limited access to traditional energy sources will augment the product adoption.

Asia Pacific Stationary Fuel Cell Market

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Measures aiming to reduce greenhouse gas emissions and enhance energy security coupled with governments offering incentives, subsidies, and policy support will complement the business growth. For instance, in 2019, the Korean Agency for Technology and Standards (KATS) introduced the KS C IEC 62282-3-100 standard, titled "Stationary Fuel Cell Power Systems – Safety" to establish the safety requirements for stationary fuel cell power systems.


COVID- 19 Impact

The COVID- 19 pandemic disrupted various industry operations resulting in critical lockdowns, further halting numerous manufacturing facilities. Large scale disruptions of the supply chain networks further contributed to the latent demand for fuel cells. However, the industry's activities resumed operations owing to the adoption of several immunization programs along with enforcement of numerous stringent safety measures.

Asia Pacific Stationary Fuel Cell Market Trends

Distributed energy generation allowing end-users to generate their electricity on-site in line with integration of stationary fuel cells with other renewable energy sources to provide consistent power supply will proliferate the product penetration. Moreover, the capability to provide grid support services, including load balancing, peak shaving, and power quality improvement will further contribute towards the industry growth.

Asia Pacific Stationary Fuel Cell Market Analysis

Based on capacity, the 3 kW – 10 kW market will surpass USD 537 million by 2032 on account of their suitability for homes, small businesses, and remote areas with limited access to the grid along with its characteristics to produce minimal emissions, making them an attractive choice for areas with stringent environmental regulations. Additionally, government promoting distributed generation as a means of increasing energy access and reliability will substantially foster the business dynamics.

Asia Pacific Stationary Fuel Cell Market Size, By End Use, 2021 - 2032, (USD Billion)

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Based on end use, the commercial market is anticipated to witness about 15.5% growth rate from 2023 to 2032. Increasing concerns about environmental issues and air quality combined with ability to provide backup power during grid outages and natural disasters will positively influence the industry landscape. Furthermore, advances in fuel cell technology and decreasing costs coupled with growing awareness and acceptance of stationary fuel cells among various consumers will sway the market trends.

Asia Pacific Stationary Fuel Cell Market Revenue Share, By Application, 2022

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CHP market valuation is predicted to trach USD 591.6 million by 2032. Ongoing investments for the development of innovative & enhanced heating and power systems along with ongoing research and development activities for new product development will enhance the business potential. In addition, rising demand for clean and reliable power sources to support city infrastructure and meet with the energy needs of urban residents along with robust public & private sector measures will drive the industry scenario.

South Korea Stationary Fuel Cell Market Size, By Country, 2021 - 2032,  (USD Million)

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South Korea stationary fuel cell market is likely to showcase more than 15.5% CAGR through 2032, owing to significant investments in the development of hydrogen infrastructure, including production, storage, and distribution. Sifting preferences of the industrial and commercial facilities towards stationary fuel cell systems on account of  high energy efficiency and reduced operating costs will sway the industry trends. Moreover, greater emphasis on reducing greenhouse gas emissions combined with various manufacturers focusing on product innovation to diversify the range of available products, will significantly contribute to the market growth.

Asia Pacific Stationary Fuel Cell Market Share

Eminent players operating in the Asia Pacific stationary fuel cell industry are:

  • Cummins Inc.
  • Ballard Power Systems
  • Plug Power Inc.
  • Bloom Energy
  • Doosan Fuel Cell Co., Ltd.
  • Siemens Energy
  • Fuji Electric Co., Ltd.
  • FuelCell Energy, Inc.
  • Toshiba Corporation
  • SFC Energy AG
  • poscoenergy

Asia Pacific Stationary Fuel Cell Industry News

  • In March 2023, NUVERA FUEL CELLS, LLC launched the Nuvera G-Series fuel cell stationary power generators. These power generators running on hydrogen can provide up to 85% of their maximum power and are applicable for data centers, backup power, EVs, and microgrids. The product innovation enabled the company to provide clean power solutions and enhance its customer base across the industry.
  • In July 2021, Bloom Energy, in collaboration with SK Engineering & Construction, launched its Combined Heat & Power project to install multi megawatt utility scale SOFC in South Korea. This initiative supports its SOFC technology, which is configured in the Power Tower format, offering multi megawatt servers in pillar architecture. This project, in combination with the SOFC technology, was estimated to provide better efficiency along with generating clean & resilient energy.

This Asia Pacific stationary fuel cell market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘MW & USD’ from 2023 to 2032 for the following segments:

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By Capacity

  • < 3 kW
  • 3 kW – 10 kW
  • 10 kW – 50 kW
  • > 50 kW

By End Use

  • Residential
  • Commercial
  • Industrial/Utility

By Application

  • Prime power
  • CHP
  • Others

The above information has been provided for the following country across the region.

  • Japan
  • South Korea
  • China
  • India
  • Philippines
  • Vietnam
  • Rest of Asia Pacific


Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The Asia Pacific market for stationary fuel cell was crossed 1.1 billion in 2022 and is estimated to reach USD 4.7 billion by 2032, due to rising adoption primarily in residential, commercial, and industrial applications to convert hydrogen-rich fuel into in electricity and heat.

APAC stationary fuel cell market from the commercial application segment is anticipated to witness over 15.5% growth rate up to 2032, due to the increasing concerns about environmental issues and air quality in the region.

South Korea stationary fuel cell market size is slated to observe more than 15.5% CAGR from 2023 to 2032, owing to significant investments in the development of hydrogen infrastructure.

Cummins Inc., Ballard Power Systems, Plug Power Inc., Bloom Energy, Doosan Fuel Cell Co., Ltd., Siemens Energy, Fuji Electric Co., Ltd., and Toshiba Corporation are some of the leading stationary fuel cell firms in APAC.

Asia Pacific Stationary Fuel Cell Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 9
  • Tables & Figures: 239
  • Countries covered: 7
  • Pages: 150
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