The global stationary fuel cell market is anticipated to grow at a considerable CAGR of 13.1% during the forecast period. Surging investments from the private and public sectors focusing on establishing the hydrogen infrastructure along, with the growth in efficient power generation and transmission solutions support the growth of the market. Moreover, numerous government funding programs in line with the growing deployment of small and large-scale stationary fuel cells will further drive the growth of the market during the forecast period. For instance, the South Korean government, aims to deploy nearly 15 GW of cumulative capacity for utility-scale fuel cells by 2040. In August 2022, the National Renewable Energy Laboratory (NREL) collaborated with Toyota Motor North America (Toyota) through a cooperative R&D agreement to build, install, and evaluate a 1-megawatt (MW) proton exchange membrane (PEM) fuel cell power generation system at NREL’s Flatirons Campus. This three-year, $6.5 million project is funded in part by the US Department of Energy’s (DOE’s) Hydrogen and Fuel Cell Technologies.
Additionally, makret players such as Nedstack, Nuvera Fuel Cells, Llc, Solidpower Gmbh, and Quantron AG are adopting various strategies such as partnership, collaboration, funding and investment to upscale their presence in the global market. For instance, in September 2022, Ballard Power Systems announced a minority equity investment in Quantron AG, to accelerate fuel cell truck adoption. As part of Quantron’s financing round of up to 50 million euros, Ballard’s investment proceeds will be used by Quantron to develop their truck fuel cell vehicle platforms, under the terms of a Joint Development Agreement. The zero-emission fuel cell electric vehicle platforms developed by Quantron are integrated with Ballard fuel cell products for various truck applications in Europe and the US.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Capacity
- By Applications
- By End Users
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- including Fuel Cell & Hydrogen Energy Association, FuelCell Energy Inc., Plug Power Inc., Posco Energy., Robert Bosch GmbH, Fuel Cell works, and GenCell Ltd., and others.
Stationary Fuel Cell Market Report Segment
By Capacity
- < 3 kW
- 3 kW – 10 kW
- 410 kW – 50 kW
- 50 kW
By Applications
- Prime Power
- Uninterrupted Power Supply (UPS)
- Combined Heat and Power (CHP)
By End-Users
- Hospitals
- Data Centers
- Grocery and Retail Stores
- Fire Stations
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Stationary Fuel Cell Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Alstom Hydrogène Sas
- Altergy
- Ballard Power Systems
- Bloom Energy
- Blue World Technologies
- Doosan Fuel Cell Co. Ltd
- Fuel Cell Works
- Gencell Ltd
- Honda
- Horiba
- Nedstack
- Nuvera Fuel Cells, Llc
- Solidpower Gmbh
- Stationary Fuel Cell Collaborative (SFCC)
- Wika Instrumentation Pte. Ltd
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