Utilities Segment is Expected to Dominate the Global Stationary Fuel Cell Market

Subsidizing the R&D works on fuel cell technology by government and increasing demand of fuel cell vehicles across the globe is a major factor attributable to the growth of the market.

According to TechSci Research report, “Global Stationary Fuel Cell Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global  Stationary Fuel Cell is anticipated to project robust growth in the forecast period with a CAGR of  13.02% through 2028. The growth is fueled by the rising demand for unconventional energy sources. To further boost this demand, there is an increasing emphasis on private-public partnerships and minimizing environmental impact. Governments worldwide are expected to provide support through various means, including funding research and development activities and implementing suitable financing programs. Establishing a robust regulatory framework is crucial as it creates an investment-friendly environment for government enterprises.

The adoption of FCVs is increasing as governments and automakers worldwide seek alternatives to traditional internal combustion engine vehicles. FCVs offer extensive driving ranges, rapid refuelling, and zero emissions, presenting a significant opportunity for fuel cell manufacturers. Investments in research and development are propelling advancements in fuel cell technologies, including proton exchange membrane fuel cells (PEMFCs), solid oxide fuel cells (SOFCs), and molten carbonate fuel cells (MCFCs). These advancements enhance efficiency, durability, and cost-effectiveness.

Fuel cells produce minimal emissions, primarily water vapor. They align with environmental objectives to reduce greenhouse gas emissions and air pollution, making them appealing in areas with stringent environmental regulations.

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Based on End User Industry, The Utilities segment dominates the market. The utility stationary fuel cell market is poised to witness 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

Based on Region, Asia Pacific will dominate the market in forecast period. 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.

Key market players in the Global  Stationary Fuel Cell Market are following:-

• Ballard Power Systems Inc.
• Horizon Fuel Cell Technologies Pte. Ltd.
• Toshiba Energy Systems & Solutions Corporation
• FuelCell Energy Inc.
• Plug Power Inc.
• Nuvera Fuel Cells LLC
• Intelligent Energy Limited
• SFC Energy AG
• Mitsubishi Power Ltd.
• Cummins Inc.

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“The global stationary fuel cell market is driven by several key factors that collectively contribute to its growth. Energy efficiency and sustainability are paramount, with fuel cells offering a clean and efficient source of electricity generation, aligning with global efforts to reduce carbon emissions. The shift towards decentralized energy generation is another crucial driver, as stationary fuel cells enable power generation at or near the point of use, reducing energy transmission losses. Their reliability and resilience make them valuable for backup power in critical facilities, ensuring uninterrupted operations. Government incentives and regulations, such as subsidies and emissions reduction targets, promote the adoption of clean energy technologies like fuel cells. This support encourages investment and market expansion. The growth of distributed energy resources (DERs) and the integration of fuel cells into these systems enhance grid stability and resilience. The emerging hydrogen economy and the use of fuel cells in various applications, including industrial combined heat and power (CHP) systems and transportation, further stimulate market growth. Technological advancements continuously improve fuel cell performance, durability, and cost-effectiveness, making them increasingly attractive for a wide range of applications. These drivers collectively position the global stationary fuel cell market as a critical component of the clean energy transition and sustainable energy future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based  global management consulting firm.

Stationary Fuel Cell Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Capacity (Less than 1kW, 1 KW to 5kW, 5kW to 250kW, 250kW to 1MW, More than 1MW), by Type (Proton Exchange Membrane Fuel Cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Molten Carbonate Fuel Cell (MCFC), Solid Oxide Fuel Cell (SOFC), Direct Methanol Fuel Cell (DMFC), Others), by Application (Combined Heat and Power (CHP), Prime Power, Uninterrupted Power Supply (UPS), Others), by End-Use Industry (Transportation, Defense, Oil and Gas, Utilities, Others), By Region, Competition 2018-2028 has evaluated the future growth potential of Global  Stationary Fuel Cell Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global  Stationary Fuel Cell Market.

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