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.
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.
In a stationary fuel cell system, an electrochemical process is utilized to produce electricity using one or more fuel cells, making it a non-mobile power source. In many applications, particularly in crucial areas, stationary fuel cell systems are employed as a primary power source, backup power source, or combined heat and power (CHP) source. In stationary applications, fuel cells can be utilized as a combined heat and power (CHP) source, backup power, or primary propulsion power. Fixed fuel cells are suitable for a wide range of corporate sectors, including retail, private, media communications, server farms, and more. They can be used to power anything from a single family home to a large commercial facility.
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
By Application
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Regional Analysis of Stationary Fuel Cell Market:
Due to the rise in the need for power in industrial hubs such data centers and hospitals, the Asia Pacific region is anticipated to lead the market over the projected decade. Certain economies in the area, like South Korea and China, provide financial aid for fuel cell installation. Over the estimated time, this is expected to turn the Asia Pacific stationary fuel cell market. In the Asia Pacific region, fuel cell technology has led to an increase in investments in renewable energy. It is anticipated that in the next years, this will change Asia's energy mix.
By Region
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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Jan 08, 2024
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