Stationary Fuel Cell Market size is projected to reach 1508.41 MW units by 2028 from an estimated 428.41 MW in 2021, growing at a CAGR of 19.7% globally.
The manufacture, installation, and use of fuel cell systems intended for stationary power generation applications are all included in the stationary fuel cell market. In contrast to conventional power sources, stationary fuel cells use hydrogen as fuel in an electrochemical process to produce electricity. These systems provide low-emission, dependable, and effective power generating options for a range of stationary uses, such as commercial, industrial, and residential ones. Stationary fuel cells can function both independently and in conjunction with the electrical grid, either as main power sources in isolated areas or as a backup source of power during blackouts. Environmental restrictions, government incentives for the adoption of clean energy, fuel cell technological breakthroughs, and the growing desire for decentralized energy solutions are some of the variables that impact market dynamics.
Players Covered in Stationary Fuel Cell Market are:
K- Pas Instronic Engineers India Private Limited, Intelligent Energy Limited, Bloom Energy, Power & Energy Inc., Ballard Power Systems Inc., FuelCell Energy Inc., Plug Power Inc., SerEnergy A/S, Hydrogenics Corporation, Sainergy Tech, Doosan Corporation, Toshiba Corporation, Panasonic Corporation, Mitsubishi Hitachi Power Systems Ltd., FC TecNrgy Pvt. Ltd., Ceres Power Holdings Plc and other major players.
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Segmentation Analysis of Stationary Fuel Cell Market:
By Type
- Solid Oxide Fuel Cells
- Proton Exchange Membrane Fuel Cells
- Phosphoric Acid Fuel Cells
- Molten Carbonate Fuel Cells
- Others
By Application
- Prime Power
- CHP
- Other Applications
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Key Industry Developments in Stationary Fuel Cell Market
In 2019, Bloom Energy Corporation, a California-based producer in the stationary fuel cell systems market, declared that it will receive a project funding of over US$ 100 million from Key Equipment Finance, a bank-held equipment finance company in the U.S., to position industrial and commercial fuel cells over the nation.
In 2019, U.S.-based company FuelCell Energy Inc., in the stationary fuel cell systems market, announced that it has entered a strategic agreement to purchase a 14.9-megawatt fuel cell park from an American power company, Dominion Energy, about US$ 36.6 million. The company is focusing to add over US$ 15 million to its annual revenue with this accession and ultimately set a stronger position in the stationary fuel cell systems market in the future years.
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- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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