Stationary Fuel Cell Market - By Capacity (< 3 kW, 3 - 10 kW, > 10 - 50 kW, >50 kW), By Application (Prime Power, CHP), By End Use (Residential, Commercial, Industry/Utility), 2025 - 2034

Stationary Fuel Cell Market Size

The global stationary fuel cell market size was valued at USD 1.6 billion in 2024 and is estimated to grow at a CAGR of 13.7% from 2025 to 2034. Increasing energy reliability and sustainability concerns are expected to drive market growth. Rising power outages and outdated grid infrastructure are driving the transition towards on-site clean energy systems. Stationary fuel cells provide high efficiency with low emissions, making them viable alternatives. These benefits will impact product deployment in different applications.
 

Rising investments in power backup solutions across major infrastructure projects are anticipated to fuel the demand for stationary fuel cells. In May 2023, Bloom Energy deployed a 1.5 MW fuel cell system at the Valley Children's Hospital in California for a smooth supply of power. The project is designed to meet around 65% of the hospital’s electricity demand. Moreover, the rising need for uninterrupted and clean energy across essential services will further influence product adoption.
 

The increasing shift toward decentralized energy generation and grid independence will complement the growth of the stationary fuel cell market. Increased dependence on robust backup systems for key applications, including healthcare, data infrastructure, and utilities, will drive adoption. Increased demand for clean, on-site power generation is set to drive product deployment, hence contributing to market growth.
 

The reliability and scalability of high-efficiency hydrogen fuel cell systems are expected to accelerate their adoption across commercial and industrial sectors. In April 2024, Panasonic announced the launch of its 10 kW pure hydrogen fuel cell generator (PH3) in Europe, Australia, and China. The PH3 has 57% electrical efficiency (DC, LHV) and a 15-year overhaul cycle, enabling flexible power generation plans. Further, the increasing emphasis on localized clean energy generation will continue to drive the adoption of the product.
 

The increasing focus on meeting net-zero emission goals and the adoption of hydrogen-based technologies in all national energy plans are expected to promote the stationary fuel cell market. Governments of leading economies are fast-tracking the expansion of hydrogen infrastructure and minimizing carbon-emitting energy consumption. These initiatives will boost clean technology investments, hence shaping the long-term growth of the stationary fuel cell.
 

Stationary Fuel Cell Market Trends

• The integration of hydrogen fuel cells into renewable energy infrastructure to enhance dispatchable power generation is anticipated to stimulate the stationary fuel cell industry. In January 2023, Ballard Power Systems received an order from CrossWind, a joint venture between Shell and Eneco, to supply a 1 MW stationary fuel cell system for the Hollandse Kust Noord offshore wind project in the Netherlands. Moreover, ongoing decarbonization goals across the power sector will contribute to industry growth.
   
• Increased attention to zero-carbon power generation and diversification of energy strategies will propel the adoption of stationary fuel cells. Governments and private entities are increasingly turning to clean hydrogen-based technologies to enhance the sustainability of energy and meet climate targets. Further, the growing need to replace old grid infrastructure with distributed generation systems will drive the installation of fuel cell-based stationary systems.
   
• The development of dedicated supply chains for high-temperature proton exchange membrane (HT-PEM) fuel cells is expected to impact the stationary fuel cell market. In May 2023, BASF and Advent Technologies partnered to ramp up MEA production at a planned facility in Greece under the Green HiPo IPCEI, supported by up to USD 850 million of Greek State financing. In addition, advances in HT-PEM fuel cells will drive product penetration.
   
• Increased scaling of hydrogen infrastructure and rising access to green hydrogen will stimulate the product demand. Improved supply chains for hydrogen will allow more widespread use of fuel cell technology. Additionally, increased collaboration between governments and industry players in pursuing further development and expansion of hydrogen production and distribution will facilitate market penetration and boost long-term industry growth.
   

Stationary Fuel Cell Market Analysis

• Based on end use, the market is segmented into residential, commercial, and industry/utility sectors. The stationary fuel cell industry was valued at USD 1.4 billion, USD 1.5 billion, and USD 1.6 billion in 2022, 2023, and 2024, respectively. 
   
• The commercial segment is expected to grow at a CAGR of 13.9% during 2025 to 2034, due to rising demand for sustainable and dependable power solutions in commercial settings. In October 2024, Rehlko, along with Toyota Motor North America, deployed a 100 kW hydrogen-powered fuel cell system at Klickitat Valley Health hospital in Goldendale, Washington. Additionally, rising corporate commitments towards sustainability targets will stimulate the product demand.
   
• The residential segment is estimated to reach over USD 2.2 billion by 2034, augmented by the growing need for smaller sizes and lower noise-level power sources in the residential environment. These features make stationary fuel cells highly efficient for suburban and urban residences in the form of reliable and compact energy solutions. Additionally, consumer awareness about energy independence, sustainability, and the benefits of clean energy will drive the industry expansion.
   
• The industrial sector will grow at a rate of 13.3% between 2025 and 2034, owing to the rising demand for clean and reliable energy in data-driven industries. In November 2024, Bloom Energy signed a deal with American Electric Power (AEP) to provide 1 gigawatt (GW) solid oxide fuel cells (SOFCs) to AI data centers. The initial order of 100 megawatts (MW) of fuel cells was placed. Additionally, the rising deployment of AI data centers is anticipated to boost industry growth.
   

• Based on applications, the market is segmented into prime power, CHP, and others. The prime power segment held 45.4% market share in 2024, driven by growing dependence on fuel cells to supply remote or off-grid locations with low grid availability. In October 2022, Generac Power Systems partnered with EODev to bring GEH2 hydrogen fuel cell generators to North America, producing up to 110 kVA zero-emission power for industrial and off-grid use. Growing demand for high efficiency in large-scale operations is expected to propel industry growth.
   
• The market for CHP systems is estimated to be worth more than USD 0.9 billion by 2034, owing to the great thermal efficiency of fuel cell systems that generate power and heat together, maximizing the energy utilization and reducing losses. In February 2024, Scale Microgrids acquired a 9.6 MW CHP fuel cell project in Bridgeport, Connecticut, which includes a 1.6-mile thermal loop and will be fabricated and operated by HyAxiom. Moreover, growing demand for industrial process heat will influence product deployment.
   
• The others segment will grow at a 13.8% CAGR from 2025 to 2034 due to the growing integration of stationary fuel cells with microgrids for decentralized power generation. These systems enable energy independence in rural or disaster-stricken areas with a stable supply of electricity independent of centralized grids. Higher adoption in backup systems and niche applications in the telecommunications and transport sector will also propel market growth.
   

• The U.S. stationary fuel cell market was valued at USD 160 million, USD 170 million, and USD 180 million in 2022, 2023, and 2024, respectively. The North American industry held a market share of 12.5% in 2024.
   
• Federal investment in hydrogen and fuel cell technology development will support the industry growth in the U.S. market. In October 2024, the U.S. Department of Energy released USD 46 million to support the research, development, and demonstration of cost-effective clean hydrogen and fuel cell technologies in production, infrastructure, and utilization. This will support the nation's net-zero goals and drive resilient, clean energy adoption.
   
• The European stationary fuel cell market will expand at 8.5% growth rate between 2025 and 2034, influenced by the rising production of manual fuel cell stack systems, driving industry growth. In May 2023, TECO 2030 successfully manufactured the first hand-made 100-kW hydrogen fuel cell stack in its Innovation Center in Narvik, Norway. The fuel cell stacks are for numerous applications. Moreover, Europe’s push for gigawatt-scale manufacturing will augment market growth.
   
• The Asia Pacific stationary fuel cell market is projected to hit USD 4.8 billion by 2034. Rapid urbanization in countries including China and India is expected to stimulate fuel cell adoption. Additionally, Asia Pacific’s major manufacturing hubs will foster substantial market growth as industries increasingly seek cost-effective, efficient, and sustainable energy solutions to meet their high-power requirements, further accelerating stationary fuel cell deployment in the region.
   

Stationary Fuel Cell Market Share

• The top 5 players, including FuelCell Energy, Ballard Power Systems, Plug Power, Bloom Energy, and Siemens Energy, hold about 42.5% revenue share in the stationary fuel cell industry. They aim to expand their footprint by launching high-efficiency fuel cell systems, scaling production capacities, and targeting diverse applications such as prime power and CHP. Strategic collaborations and regional expansion efforts further enhance their global competitiveness.
   
• Leading companies focus on technological innovation and commercialization by investing in durable, cost-effective fuel cell stack designs, improving thermal efficiency, and integrating systems with microgrids and renewables. Their emphasis on industrial decarbonization and sustainable power generation helps strengthen long-term market positioning across utility, residential, and commercial sectors.
   

Stationary Fuel Cell Market Companies

• Cummins is one of the major players in the stationary fuel cell industry. It reported revenue of USD 34.1 billion in 2024. It is actively advancing stationary fuel cell technologies through its Accelera division. The company focuses on solid oxide fuel cells (SOFCs) and proton exchange membrane (PEM) systems, targeting applications such as data centers and industrial facilities. Cummins has over 2,000 fuel cell installations globally.
   
• Ballard Power Systems is one of the leaders in the stationary fuel cell market, it recorded revenues of USD 69.7 million in 2024. In March 2024, it secured a 15 MW order of fuel cell systems for off-grid renewable power in the UK and partnered with Vertiv to develop hydrogen-powered backup solutions for data centers, reinforcing its commitment to clean, zero-emission energy systems.
   

Eminent players operating in the stationary fuel cell industry are:

• Altergy
• AFC Energy
• Bloom Energy
• Ballard Power Systems
• Cummins
• Doosan Fuel Cell
• Fuji Electric
• Fuel Cell Energy
• GenCell
• poscoenergy
• Plug Power
• Nuvera Fuel Cells
• Siemens Energy
• SFC Energy
• Toshiba Corporation
   

Stationary Fuel Cell Industry News:

• In March 2023, Cummins launched a new brand Accelera to its New Power business unit. It provides a varied portfolio of zero-emissions solutions for vital industries, thereby empowering customers to accelerate their transition toward a sustainable future. Further, this marks a significant step toward the company achieving its Destination Zero strategy. 
   
• In August of 2023 Ballard Power Systems signed a letter of intent with Ford Trucks. The agreement has in its core the provision of fuel cell systems for the prototype of a hydrogen-fueled vehicle. The deal also includes an initial purchase order for two FCmove-XD 120 kW fuel cell engines. This initiative is aimed at promoting the use of zero-emission vehicles (ZEVs) in the freight transport sector.
   

This stationary fuel cell market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “(USD Million and MW)” from 2021 to 2034, for the following segments:

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Market, By Capacity

• 3 kW
• 3 - 10 kW
• > 10 - 50 kW
• > 50 kW

Market, By Application

• Prime power
• CHP
• Others

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
  • China
  • Japan
  • South Korea
  • India
  • Philippines
  • Vietnam
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
• Latin America
  • Brazil
  • Peru
  • Mexico