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Asia Pacific Stationary Fuel Cell Market Trends

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

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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.

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.