Prime Power Stationary Fuel Cell Market Size - By Capacity (< 10 kW, > 10 kW – 50 kW, > 50 kW – 100 kW, > 100 kW), By End-Use (Residential, Commercial, Industry/Utility) & Global Forecast Report, 2023 – 2032

Prime Power Stationary Fuel Cell Market Size

Prime Power Stationary Fuel Cell Market size surpassed USD 706 million in 2022 and is anticipated to expand at 11.4% CAGR from 2023 to 2032.
 

Rising demand for permanent power generation along with zero emission sources is stimulating the industry growth. Significant efforts for renewables energy adoption in power grids have surged in the sector. For instance, EU planned to increase its renewable energy sources target from 32% to 40% for EU's overall energy mix by 2030. Therefore, implementation of reliable power solutions for small to large applications will accelerate the market development.
 

COVID-19 Impact

The COVID-19 has impacted the economic development across various economies, thereby affecting the deployment of stationary fuel cells. Various lockdown enforcements and curfews have halted a variety of production and manufacturing processes, thereby resulting in the surge of fuel prices. In addition, shifting consumer awareness to reduce carbon and GHG emissions to improve upon the air quality is set to augment the prime power stationary fuel cell market demand.
 

Prime Power Stationary Fuel Cell Market Analysis

The > 50 kW – 100 kW prime power stationary fuel cell industry is estimated to witness 14% growth till 2032. Rising demand for the self-generation of energy along with rising sustainable energy requirement across end users will positively impact the business landscape. The escalating demand for large MW units to deliver power in off-grid areas will significantly strengthen the industry outlook. For instance, in January 2023, Nuvera Fuel Cells launched 470 kW & 360 kW Nuvera G-Series Fuel Cell Power Generators to meet on-site power demand for industrial & commercial applications. Hence, such innovations will support providing zero emissions across the industry.
 

The < 10 kW prime power stationary fuel cell market size is expected to cross a valuation of USD 336 million owing to its compact design, quiet operation, and clean emissions along with the favorable investments across private & public sectors for the growth of hydrogen energy sector. Furthermore, continuous advancement of efficient power generation systems in line with surging electricity demand will sway the business dynamics.
 

Commercial prime power stationary fuel cell industry size accounted for over USD 64 million by 2022. Growing requirement of decarbonizing power and producing hydrogen around the world combined with target for sustainable future has stimulated the business outlook. For instance, in May 2023, PLUG POWER INC. introduced high-power stationary fuel cell system for charging commercial EV fleets. These systems will charge EV fleets at a low cost, allowing zero-emission EV vehicles to be deployed in order to fulfil fleet operators' sustainability and operational requirements. Moreover, continuous research & development activities aiming for the advancement of technologies will drive the industry scenario.
 

Lack of electricity in remote areas along with increasing shift towards alternative fuels from conventional energy sources hasten the power demand in homes. Additionally, growing governmental and private investments in hydrogen infrastructure has supported the worldwide prime power stationary fuel cell market prospect. Further, the enforcement of hydrogen roadmaps and standards is speculated to impact the deployment of large-scale stationary systems particularly in the utility sector.
 

Europe prime power stationary fuel cell industry amassed USD 10 million in 2022. Extensive research & development activities coupled with the different initiatives & programs to address the expansion of various technologies will accelerate the business potential. Moreover, growing demand for reliable power sources across the developed nations is set to strengthen the implementation of distributed energy generation.
 

Fuel cell market will continue to grow owing to growth in research, design and development activities leading to efficient transmission solutions to further support decarbonize the energy sector. Variety of government funding programs coupled with rising deployment of small and large scale fuel cells across countries including Japan & South Korea is set to drive the prime power stationary fuel cell market statistics. For instance, South Korean government will deploy approximately 15 GW of cumulative capacity by 2040 to be utilized for utility sector.
 

Prime Power Stationary Fuel Cell Market Share

The leading market players are focusing on strategic collaborations and acquisitions, as well as new product breakthroughs that will have a favorable impact on business trends. The key players across the stationary fuel cell market include

• Cummins Inc.
• Ballard Power Systems
• PLUG POWER INC.
• NUVERA FUEL CELLS, LLC.
• Nedstack Fuel Cell Technology BV
• Bloom Energy
• SFC Energy AG
• Aris Renewable Energy
• GenCell Ltd.
• AFC Energy
• Fuel Cell Energy, Inc.
• Fuji Electric Co., Ltd.

Prime Power Stationary Fuel Cell Industry News

• In May 2023, Ballard Power Systems received 3.6 MW of fuel cells systems order from European company and is expected to provide 36 x 100 kW units in 2023 and 2024. These fuel cell systems will be embedded into stationary power units to power constructions sites, data centers & EV charging stations. The product deployment will boost up the development of fuel cell industry.
   
• In July 2021, Cummins Inc. delivered power system for off-grid microgrid solution to Gold Fields, a gold mining company in Australia. Cummins QSV91G gas generator was utilized to provide continuous & reliable power at Angew site. The power produced was estimated to power 11,500 residence and remove 46,400 tons of CO2. This delivery supported for the acceleration the prime power stationary fuel cell industry.
   

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

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Market, By Capacity

• < 10 kW
• > 10 kW – 50 kW
• > 50 kW – 100 kW
• > 100 kW

Market, By End-Use

• Residential
• Commercial
• Industry/Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Austria
• Asia Pacific
  • Japan
  • South Korea
  • China
  • India
  • Philippines
  • Vietnam
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
• Latin America
  • Brazil
  • Peru
  • Mexico