According to Stratistics MRC, the Global Stationary Fuel Cells Market is expected to grow at a CAGR of 20.0% during the forecast period. Some of the key factors boosting the market are the adoption of distributed energy generation, various initiatives and favorable policies by governments supporting the use of sustainable energy. However, a conventional fuel such as oil or gas hampers the market growth of stationary fuel cells market.
An electrochemical cell that produces electricity through electrochemical reaction of hydrogen fuel with oxygen is known as fuel cell. Stationary fuel cells are fuel cells which are linked to an electric grid to deliver emergency and supplemental power or setup as independent grid generator for daily use. Fuel cells require a constant source of oxygen (air) and fuel to support the chemical reaction.
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Based on Application, Combined Heat and Power (CHP) segment growth is constantly enhancing because, Combined heat and power (CHP) is the use of a heat engine or power station to generate electricity and useful heat at the same time. Trigeneration or combined cooling, heat and power (CCHP) refers to the simultaneous generation of electricity and useful heating and cooling from the combustion of a fuel or a solar heat collector.
By Geography, North America is anticipated to exhibit the considerable growth the construction and installation of fuel cell power by companies along with the declining cost of new/existing technologies, leading to increasing installation rates in this region.
Some of the key players in Global Stationary Fuel Cells market are Altergy, Ballard Power, Bloom Energy, Doosan PureCell America, FuelCell Energy, Fuji Electric, JX Nippon, Panasonic, Plug Power, POSCO ENERGY, Siemens, SOLID power and Toshiba.
• 0-1 KW
• 1-4 KW
• > 4 KW
• Molten Carbonate Fuel Cells (MCFCs)
• Phosphoric Acid Fuel Cells (PAFCs)
• Polymer Electrolyte Membrane Fuel Cell (PEMFC)
• Solid Oxide Fuel Cell (SOFC)
• Other Technologies
• Combined Heat and Power (CHP)
• Prime Power
• Secure Communications
• Telecommunications Network
• Other Applications
End Users Covered:
• Home Applications
• Power Generation
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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