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Asia Pacific Stationary Fuel Cell Market Size

  • 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.
 

 

 

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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