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Stationary Fuel Cell Market Size

Report ID: GMI5221
Published Date: Nov 2023
Report Format: PDF

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Stationary Fuel Cell Market Size

Stationary Fuel Cell Market was valued at USD 1.48 billion in 2023 and is set to observe more than 12.2% CAGR between 2024 and 2032. Mounting investments from public & private sectors focusing on developing the hydrogen infrastructure coupled with greater demand for small and large capacity fuel cell systems will augment the product penetration.

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Greater requirement for dedicated, on-site, and premium-power generation at critical load facilities will stimulate the business trends. The systems further pose numerous benefits comprising less noise, reduced waste heat, coupled with grid stability which will augment the industry landscape. Further, enhanced demand for large multi-megawatt units to provide electricity across the off-grid areas will strengthen the market outlook.

Stationary Fuel Cell Market Report Attributes
Report Attribute	Details
Base Year:	2023
Stationary Fuel Cell Market Size in 2023:	USD 1.48 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	12.2%
2032 Value Projection:	USD 4.04 Billion
Historical Data for:	2019 to 2023
No. of Pages:	350
Tables, Charts & Figures:	669
Segments covered:	Capacity, End Use, Application and Region
Growth Drivers:	Initiatives toward developing a hydrogen economy Increasing demand for small and large capacity stationary systems Enhanced efficiency in comparison to the batteries
Pitfalls & Challenges:	Lack of infrastructure

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of stationary fuel cell was worth USD 1.48 billion in 2023 and is set to reach over USD 4.04 billion by 2032, driven by the mounting investments from both public & private sectors on developing the hydrogen infrastructure.

Stationery fuel cell market from the 3 kW – 10 kW capacity segment is anticipated to generate more than USD 453 million by 2032, owing to the shifting consumer preferences toward clean energy to reduce carbon emissions along with modern technological advancements.

Europe stationary fuel cell industry size is set to expand at over 6.5% CAGR from 2023 to 2032 attributed to the growing R&D activities for efficient power generation along with transmission solutions.

Some of the top stationary fuel cell companies are Cummins, Inc., Ballard Power Systems, Plug Power Inc., TOSHIBA CORPORATION, NUVERA FUEL CELLS, LLC., Doosan Fuel Cell Co., Ltd., Siemens Energy, and Fuji Electric Co., Ltd., among others.