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Global Stationary Fuel Cell Market to reach USD 14.04 billion by the end of 2030

Global Stationary Fuel Cell Market Size study & Forecast, by Technology (MCFC, PAFC, PEMFC, SOFC), by Application (Prime Power, Uninterrupted Power Supply (UPS), Combined Heat and Power (CHP)), by Power Range (Less than 1Kw, More than 1mW) and Regional Analysis, 2023-2030

Product Code: EPPGS-79129646
Publish Date: 5-12-2023
Page: 200

Global Stationary Fuel Cell Market is valued at approximately USD 3.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 20.3 % over the forecast period 2023-2030. stationary fuel cell is a type of fuel cell system designed for stationary or continuous power generation, as opposed to portable fuel cells used in mobile applications. Fuel cells are electrochemical devices that convert the chemical energy of a fuel, typically hydrogen, and an oxidizer, usually oxygen from the air, into electricity and heat. Stationary fuel cells are primarily used to provide clean and efficient power in various stationary applications. The Stationary fuel cell market is expanding because of factors such as increasing demand for clean energy sources, cohesive government incentives and regulations, and rising investments in infrastructure, such as hydrogen refueling stations and fuel cell manufacturing facilities, have played a role in advancing the stationary fuel cell market.

Moreover, increasing concerns about environmental sustainability and the need to reduce greenhouse gas emissions have driven the demand for clean and renewable energy sources. Stationary fuel cells, which can produce electricity with lower emissions compared to traditional fossil fuels, have gained attention in this context. According to a 2021 report published by The International Energy Agency, the global fuel cell market is anticipated to experience growth due to a growing demand for alternative and clean energy sources. The report highlights that renewable energy usage witnessed a 3% increase in 2020, primarily driven by a nearly 7% growth in electricity generation from renewable sources. Furthermore, it is projected that renewable electricity generation expected expand by over 8% in 2021, reaching a total of 8,300 TWh. In addition, technological advancements in fuel cells and rapid investment in R&D of fuel cell systems would create lucrative growth opportunities. However, the high cost of fuel cell systems stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Stationary Fuel Cell Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market over the forecast period owing to the well-established energy infrastructure and emphasis on renewable energy sources in the region creating favorable conditions for the adoption of stationary fuel cell systems. Asia Pacific is the fastest growing region over the forecast period, owing to factors such as growing population, rapid urbanization, and the rising demand for reliable and sustainable power generation in the region.

Major market player included in this report are:
Fuji Electric Co Ltd.
Fuelcell Energy Inc.
Denso Corporation
Toshiba Energy Systems & Solutions Corporation
Plug Power Inc.
Posco Energy Co., Ltd.
Mitsubishi Hitachi Power Systems Ltd
Horizon Fuel Cell Technologies Pte Ltd.
Ballard Power Systems Inc.
Aisin Corporation

Recent Developments in the Market:
Ø In May 2021, Fuelcell Energy Inc. secured USD 8 million in funding from the US Department of Energy (DOE) for the ARPA-E project aimed at advancing the development of highly efficient Solid Oxide Fuel Cell (SOFC) devices for power generation.

Global Stationary Fuel Cell Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Technology, Application, Power Range, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:

By Application:
Prime Power
Uninterrupted Power Supply (UPS)
Combined Heat and Power (CHP)

By Power Range:
Less than 1Kw
More than 1mW

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Stationary Fuel Cell Market, by Region, 2020-2030 (USD Billion)
1.2.2. Stationary Fuel Cell Market, by Technology , 2020-2030 (USD Billion)
1.2.3. Stationary Fuel Cell Market, by Application , 2020-2030 (USD Billion)
1.2.4. Stationary Fuel Cell Market, by Power Range , 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Stationary Fuel Cell Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Stationary Fuel Cell Market Dynamics
3.1. Stationary Fuel Cell Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand for clean energy sources Cohesive government initiative and regulations
3.1.2. Market Challenges High cost of fuel cell systems
3.1.3. Market Opportunities Technological advancements in fuel cells Rapid investment toward R&D of fuel cell systems
Chapter 4. Global Stationary Fuel Cell Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Stationary Fuel Cell Market, by Technology
5.1. Market Snapshot
5.2. Global Stationary Fuel Cell Market by Technology , Performance – Potential Analysis
5.3. Global Stationary Fuel Cell Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
5.4. Stationary Fuel Cell Market, Sub Segment Analysis
5.4.1. MCFC
5.4.2. PAFC
5.4.3. PEMFC
5.4.4. SOFC
Chapter 6. Global Stationary Fuel Cell Market, by Application
6.1. Market Snapshot
6.2. Global Stationary Fuel Cell Market by Application , Performance – Potential Analysis
6.3. Global Stationary Fuel Cell Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Stationary Fuel Cell Market, Sub Segment Analysis
6.4.1. Prime Power
6.4.2. Uninterrupted Power Supply (UPS)
6.4.3. Combined Heat and Power (CHP)
Chapter 7. Global Stationary Fuel Cell Market, by Power Range
7.1. Market Snapshot
7.2. Global Stationary Fuel Cell Market by Power Range , Performance – Potential Analysis
7.3. Global Stationary Fuel Cell Market Estimates & Forecasts by Power Range 2020-2030 (USD Billion)
7.4. Stationary Fuel Cell Market, Sub Segment Analysis
7.4.1. Less than 1Kw
7.4.2. More than 1mW
Chapter 8. Global Stationary Fuel Cell Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Stationary Fuel Cell Market, Regional Market Snapshot
8.4. North America Stationary Fuel Cell Market
8.4.1. U.S. Stationary Fuel Cell Market Technology breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Power Range breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Stationary Fuel Cell Market
8.5. Europe Stationary Fuel Cell Market Snapshot
8.5.1. U.K. Stationary Fuel Cell Market
8.5.2. Germany Stationary Fuel Cell Market
8.5.3. France Stationary Fuel Cell Market
8.5.4. Spain Stationary Fuel Cell Market
8.5.5. Italy Stationary Fuel Cell Market
8.5.6. Rest of Europe Stationary Fuel Cell Market
8.6. Asia-Pacific Stationary Fuel Cell Market Snapshot
8.6.1. China Stationary Fuel Cell Market
8.6.2. India Stationary Fuel Cell Market
8.6.3. Japan Stationary Fuel Cell Market
8.6.4. Australia Stationary Fuel Cell Market
8.6.5. South Korea Stationary Fuel Cell Market
8.6.6. Rest of Asia Pacific Stationary Fuel Cell Market
8.7. Latin America Stationary Fuel Cell Market Snapshot
8.7.1. Brazil Stationary Fuel Cell Market
8.7.2. Mexico Stationary Fuel Cell Market
8.8. Middle East & Africa Stationary Fuel Cell Market
8.8.1. Saudi Arabia Stationary Fuel Cell Market
8.8.2. South Africa Stationary Fuel Cell Market
8.8.3. Rest of Middle East & Africa Stationary Fuel Cell Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Fuji Electric Co Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Fuelcell Energy Inc.
9.3.3. Denso Corporation
9.3.4. Toshiba Energy Systems & Solutions Corporation
9.3.5. Plug Power Inc.
9.3.6. Posco Energy Co., Ltd.
9.3.7. Mitsubishi Hitachi Power Systems Ltd
9.3.8. Horizon Fuel Cell Technologies Pte Ltd.
9.3.9. Ballard Power Systems Inc.
9.3.10. Aisin Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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