Stationary Fuel Cell Market Dynamics: Growth Opportunities and Share Analysis by 2031

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. 

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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

• Segment Covered- 

o             By Capacity 

o             By Applications 

o             By End Users 

• Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             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.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global 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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