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Stationary Fuel Cell Market - By Capacity (< 3 kW, 3 kW – 10 kW, 10 kW – 50 kW, > 50 kW), By End-use (Residential, Commercial, and Industrial/Utility), By Application (Prime Power and CHP) & Forecast, 2022-2030

  • Report ID: GMI5221
  • Published Date: Mar 2022
  • Report Format: PDF

Industry Trends

Stationary Fuel Cell Market size exceeded USD 1.6 billion in 2021 and is anticipated to grow at over 13.1% CAGR from 2022 to 2030. The industry expects 1.5 GW capacity by 2030.

Stationary Fuel Cell Market

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Surging investments from the private & public sectors focusing on establishing the hydrogen infrastructure along with the growing demand for small and large capacity fuel cell systems will offer sufficient opportunities. In addition, favorable regulations & norms coupled with increasing investments for electrification in remote areas will augment product deployment.

The COVID-19 has affected the economic development across various regions, thereby affecting the stationary fuel cell market. Lockdown enforcements and curfews have halted many production processes, resulting in the hike of fuel prices. Moreover, shifting customer awareness to reduce GHG emissions and improve the air quality will stimulate the market demand.

Higher efficiency and versatile applicability

> 50 kW capacity segment is forecast to register growth rate of around 13% through 2030 owing to growing installation of large scale CHP systems across countries including the U.S. and South Korea. Large stationary fuel cell units have been deployed by utilities and provide power for distributed generation and Combined Heat and Power (CHP) applications. Large installation of the systems generating both heat and electricity along with a developing market for electricity only systems, including back-up power systems will propel the business expansion.

< 3 kW fuel cells are utilized primarily across commercial and residential applications. In small-scale installations, these products are often utilized on account of the various benefits including compact design, high resilience, as well as less fuel consumption among others. Shifting customer concerns toward using clean energy to reduce carbon emissions coupled with new product developments encouraging power generation and reduced dependency on the grid will accelerate the industry trends.

Increasing installation of stationary fuel cell systems across the industrial and utility sectors

The industrial/utility stationary fuel cell market is poised to witness more than 12% gains till 2030. The introduction of promising government policies, increased funding toward technology development and shifting consumer awareness towards clean and sustainable energy will stimulate the market revenue. Growing consumption of electricity from off-grid areas and increasing operation of regulatory norms & mandates will strengthen product penetration. Furthermore, introduction of hydrogen roadmaps and standards is set to influence the adoption of large-scale stationary systems primarily in the utility sector.

Ongoing technological enhancements across small and large scale CHP systems

Germany stationary fuel cell market, by application

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Increasing consumer awareness toward clean energy technologies and solutions, rising demand for electricity and growing implementation of regulatory norms and mandates is set to foster the stationary fuel cell market trends. The surging demand for large multi-megawatt units to provide electricity in off-grid areas will significantly strengthen the industry statistics.

Enhanced product penetration for short-time electricity supply across the telecommunication base stations, tetra networks, and data centers is likely to boost the market size. Several industry participants are involved in developing new innovative products.

Growing investments to develop the hydrogen fuel infrastructure in Asia Pacific

Asia Pacific stationary fuel cell market

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Japan and South Korea combined contribute to more than USD 17 Billion by 2030. The growth in research and development activities for efficient power generation and transmission solutions will support decarbonize the energy sector. Numerous government funding programs in line with growing deployment for small and large scale stationary fuel cells will drive the regional market growth. For instance, the South Korean government, aims to deploy nearly 15 GW of cumulative capacity for utility scale fuel cells by 2040.

The China stationary fuel cell market valued at nearly USD 21 million in 2021. Shifting government focus toward technological advancements for hydrogen FC applications will complement the product deployment. The Ministry of Science and Technology (MOST), in 2021, proposed FC cogeneration as one of the key hydrogen-energy technologies. Additionally, development of national and state level policies across the economy will further help in advancing the cogeneration technology. Provincial policy development for utilization of fuel cells across applications including backup power, household & public use among others will spur the industry revenue.

Key players are focusing on inorganic growth ventures to expand their market reach

The key players operating across the stationary fuel cell market include Cummins, Ballard Power, Plug Power, Posco Energy, SFC Energy, GenCell Ltd., Fuel Cell Energy, Bloom Energy. Altergy, Aris Renewable Energy LLC, and AFC Energy, among others.

Continuous investments for technological advancements combined with increasing research & development activities for new product development will support to increase their presence. However, inorganic strategic measures including joint ventures, mergers & acquisitions among others will boost the product deployment across the regions. For instance, Ballard Power Systems, in 2022, announced a strategic partnership with the road equipment manufacturer for 31 fuel cell modules, which can provide 3 MW of hydrogen fuel cell power.

This market research report on stationary fuel cell includes in-depth coverage of the industry with estimates & forecast in terms of “MW” and “USD” from 2018 to 2030, for the following segments:

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Market, By Capacity

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

Market, By End Use

  • Residential
  • Commercial
  • Industrial/Utility

Market, By Application

  • Prime Power
  • CHP
  • Others

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

  • 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
Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of stationary fuel cell hit USD 1.6 billion in 2021 and the capacity is expected to surpass 1.5 GW by 2030 due to the growing investments from the private & public sectors.

The industrial/utility end-user segment is poised to record a CAGR of over 12% through 2030 owing to the influx of promising government policies.

China stationary fuel cell segment accounted for USD 21 million revenue in 2021 and will expand with the growing government emphasis on technological advancements for hydrogen FC applications.

Cummins, Ballard Power, Plug Power, Posco Energy, SFC Energy, GenCell Ltd., Fuel Cell Energy, Bloom Energy. Altergy, Aris Renewable Energy LLC, and AFC Energy are some of the major players operating in the industry.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 16
  • Tables & Figures: 670
  • Countries covered: 20
  • Pages: 350
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