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Stationary Fuel Cell Market Trends

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

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Stationary Fuel Cell Market Trends

Ongoing development of hydrogen roadmaps, laws and mandates coupled with growing number of financial programs & incentives is anticipated to develop a positive scenario for fuel cells. For instance, Fuel Cell and Hydrogen Joint Undertaking (FCHJU), in 2019, created the Hydrogen Roadmap Europe, developing a sustainable path leading to the European energy transition. 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 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.