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Global Value of Stationary Fuel Cell System Market Is Estimated To Be Worth over USD 3.2 Billion In 2022

Posted 11 Aug-2022 03:32 AM by Neha | 1531

The global stationary fuel cell system market is expected to reach $20.2 billion by the end of 2032. Governments in several nations are launching a variety of initiatives for the production of clean energy in response to growing environmental concerns about sustainability and soaring energy demand.

 

For instance, the U.S. Government recently announced its plan to invest nearly US$ 550 Bn to increase the production of clean energy throughout the U.S., according to a report by the American Clean Power Association.

 

Stationary fuel cell systems contribute to the generation of clean energy with no reliance on the grid. So many of these initiatives are predicted to offer the market lucrative growth prospects. This is expected to drive a 7.48X increase in stationary fuel cell system sales between 2022 and 2032.

 

For More Insights into the Market, Request a Sample of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=2456

 

According to Fact.MR, sales of stationary fuel cell systems are anticipated to reach US$ 3.2 billion by 2022, growing at a CAGR of 20.3% during the anticipated time frame (2022-2032).

 

Alternatives to traditional combustion heat engines include stationary fuel cell systems. Sales of these systems are anticipated to soar, supporting market expansion, as a result of their higher efficiency and capacity to absorb all heat released.

 

Additionally, increased government funding for the creation and use of ultra-high fuel cell systems to increase the capacity of producing clean energy is anticipated to hasten the growth of stationary fuel cell systems in the upcoming years.

 

According to Fact.MR, the demand for stationary fuel cell systems is rising quickly for uses like backup power, distributed power generation, and cogeneration. Sales should be boosted by their features, which include greater efficiency, less or no heat loss, and low carbon emissions. The combined heat and power (CHP) segment is anticipated to grow at a 17.2% CAGR through 2032 within the application category.

 

Report Attributes

Details

Base Year Value (2021A)

USD 2.7 Billion

Estimated Year Value (2022E)

USD 3.2 Billion

Projected Year Value (2032F)

USD 20.2 Billion

Global Growth Rate (2022-2032)

 CAGR 20.3%

East Asia Market Share in 2021

~43.6%

East Asia Growth Rate (2022-2032)

CAGR 22.4%

Collective Value Share (South Korea, USA, Germany) 2022: Top 3 Countries

~55%

 

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Key Findings from the Market Study on Stationary Fuel Cell Systems

 

·         A growing emphasis on clean energy production by the government in the U.S. is expected to result in the country holding the largest share of the North American market.

·         Due to the presence of numerous notable market players, China is predicted to experience strong growth in the East Asian market.

·         Over the assessment period, India is expected to represent more than 2/5 of the revenue share in South Asia & Oceania, making it one of the region's most profitable markets.

·         By 2022, it is predicted that the proton-exchange membrane fuel cell (PEMFC) market will represent more than one-third of all global sales.

·         Through 2032, it is anticipated that the less than 1Kw power range will account for more than 38% of demand.

 

Competitive Environment

 

According to Fact.MR, the top 5 companies in the global market for stationary fuel cells systems are anticipated to hold more than 29% of the market's total revenue share in 2022.

 

Leading players are using tactics like mergers and acquisitions, partnerships, and collaborations with other businesses to increase their market share. In addition, a key strategy used by well-known companies to increase their visibility among consumers is new product development.

 

Some of the key players in the market profiled by Fact.MR are:

  • Plug Power Inc.

  • Fuelcell Energy Inc.

  • Doosan Fuel Cell America

  • Ballard Power Systems

  • POSCO ENERGY

  • SOLIDpower Group

  • Bloom Energy Corporation

  • PowerCell

  • AFC Energy Plc.

  • Fuji Electric Co. Ltd

  • Other

 

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Global Stationary Fuel Cell System Market Segments

  • 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

    • 5kW-250kW

    • 250kW-1mW

    • More than 1mW

 

  • By Region :

    • North America

    • Latin America

    • Europe

    • East Asia

    • South Asia & Oceania

    • MEA

Tags:

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Company Information

Company Name Contact Person Contact Number Email Id Website Address
Fact.MR 6282511583 neha.b@factmr.com https://www.factmr.com

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