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Stationary Fuel Cell Market By Capacity, By Type, By Application, By End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 342 Pages
  • January 2023
  • Region: Global
  • Allied Market Research
  • ID: 5751165
The stationary fuel cell market valued for $2.6 billion in 2021 and is estimated to reach $9.0 billion by 2031, exhibiting a CAGR of 13.1% from 2022 to 2031.

Fuel cells are electrochemical devices that use the oxidation of fuel to convert chemical energy into heat and electricity (hydrogen, natural gas, or methanol). R&D in fuel cell technology has resulted in a reduction in global carbon emissions. Population growth has resulted in increased energy demand, putting a strain on fossil fuel supplies. On the other side, governments worldwide are focusing on reducing the impact of carbon emissions by using renewable energy. This is expected to improve stationary fuel cell applications in the forecast period.

Stationary fuel cells generate electricity from hydrogen as a by-product, generating nitrogen oxide. Stationary hydrogen fuel cells provide electricity without the usage of any moving parts (such as pistons used in generators), resulting in less noise than current technologies. Furthermore, as compared to alternative typical backups that use an internal combustion engine, fuel cells are small and may minimize fuel usage by at least 50%.

In addition, as compared to traditional power sources, these cells emit fewer pollutants. The pollution produced by a stationary fuel cell power plant is less than one ounce of every 1,000 kilowatt-hours of energy. Conventional power sources, on the other hand, create up to 25 pounds of pollutants for every unit of electricity consumed. One of the key driving elements for market growth is the fundamental properties of fuel cells. All such factors positively influence the stationary fuel cell market.

Strict government regulations related to CO2 and SO2 emission drives the growth of the stationary fuel cell market. For instance, in 2020, European Commission issued a regulatory proposal confirming an 81g/km target by 2025, and 59g/Km target by 2030. Strict government regulations such as 81g/km CO2 emissions in Europe and 113g/Km CO2 emissions after 2022 by Corporate Average Fuel Economy (CAFE) in the U.S. are the major factors supporting the growth of the stationary fuel cell market.

The surge in the need for environment-friendly energy storage solutions propels the demand for renewable fuel cell energy storage solutions. Fuel cells are considered environmentally friendly as compared to the other conventional power generation system, thereby increasing their demand worldwide. Strict government mandates in Asia-Pacific, mainly in China and Japan also contribute toward the growth of the stationary fuel cell market. In addition, the “Go Green” revolution is another factor driving the market growth. Stringent government regulations related to carbon emissions are expected to propel the growth of the stationary fuel cell market.

The cost of catalysts used by a fuel cell is almost 26% of the total cost when 1,000 systems are produced per year. The high cost of catalysts is projected to inhibit the growth of the advances in fuel cell technology in the coming years. Furthermore, the high cost of fuel cells has a huge impact on the cost of fuel cell vehicles. For instance, the price of the 201 Toyota Mirai is almost $58,000 in the U.S., whereas the 2019 Tesla Model 3 costs $36,000. The huge price difference between battery electric and fuel-cell vehicles is a major challenge for the growth of fuel-cell electric vehicle sales.

The stationary fuel cell market analysis is segmented on the basis of capacity, type, application, end-use industry, and region. By type, the market is divided into less than 1 KW, 1 KW to 5 KW, 5 KW to 250 KW, 250 to 1 MW, and more than 1 MW. By type, the stationary fuel cell market is divided into Proton Exchange Membrane Fuel Cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Molten Carbonate Fuel Cell (MCFC), Solid Oxide Fuel Cell (SOFC), Direct Methanol Fuel Cell (DMFC), and other. By application, the stationary fuel cell market is divided into combined heat and power, prime power, uninterrupted power supply, and others. On the basis of end-use industry, the stationary fuel cell market is divided into transportation, defense, oil and gas, utilities, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players in the stationary fuel cell industry Ballard Power Systems, Posco Energy, Toshiba Fuel Cell Power System Corporation, Denso Corporation, Mitsubishi Hitachi power systems Ltd., FUJI Electric Co. Ltd., Fuelcell Energy Inc., Plug Power Inc., Horizon Fuel Cell Technologies Pte, and Aisin Seiki Co., Ltd.

Impact of Covid-19 on the stationary fuel cell market

COVID-19 has influenced the stationary fuel cell sector and has had an impact on economic growth in several regions. Lockdowns and curfews have caused various manufacturing processes to be halted, forcing fuel prices to skyrocket. Additionally, rise in customer knowledge about the need to cut GHG emissions and improve air quality will boost market demand.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the stationary fuel cell market analysis from 2021 to 2031 to identify the prevailing stationary fuel cell market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the stationary fuel cell market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global stationary fuel cell market trends, key players, market segments, application areas, and market growth Strategies.

Key Market Segments

By Capacity

  • 1 KW to 5kW
  • 5kW to 250kW
  • 250kW to 1MW
  • More than 1MW
  • Less than 1kW

By Type

  • Proton Exchange Membrane Fuel Cell (PEMFC)
  • Phosphoric Acid Fuel Cell (PAFC)
  • Molten Carbonate Fuel Cell (MCFC)
  • Solid Oxide Fuel Cell (SOFC)
  • Direct Methanol Fuel Cell (DMFC)

By Application

  • Combined Heat and Power (CHP)
  • Prime Power
  • Uninterrupted Power Supply (UPS)

By End-Use Industry
  • Transportation
  • Defense
  • Oil and Gas
  • Utilities

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • Ballard Power Systems
  • Fuji Electric Co Ltd.
  • Horizon Fuel Cell Technologies Pte Ltd.
  • Plug Power Inc.
  • Mitsubishi Hitachi Power Systems Ltd
  • Toshiba Fuel Cell Power Systems Corporation
  • Posco Energy
  • Denso Corporation
  • Fuelcell Energy Inc.
  • Aisin Seiki Co., Ltd.

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Intensity of rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Stringent government regulations to control increasing pollution
3.4.1.2. Increase in demand for distributed power system
3.4.1.3. Initiatives toward developing a hydrogen economy
3.4.2. Restraints
3.4.2.1. High cost of the catalyst leads to higher cost of fuel cell
3.4.2.2. The presence of alternatives for energy storage and power generation
3.4.3. Opportunities
3.4.3.1. Demand for fuel cells and technological developments in the fuel cell
3.5. COVID-19 Impact Analysis on the market
3.6. Key Regulation Analysis
3.7. Pricing Analysis
3.8. Value Chain Analysis

CHAPTER 4: STATIONARY FUEL CELL MARKET, BY CAPACITY
4.1. Overview
4.1.1. Market size and forecast
4.2. Less than 1kW
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. 1 KW to 5kW
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. 5kW to 250kW
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. 250kW to 1MW
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
4.6. More than 1MW
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market share analysis by country

CHAPTER 5: STATIONARY FUEL CELL MARKET, BY TYPE
5.1. Overview
5.1.1. Market size and forecast
5.2. Proton Exchange Membrane Fuel Cell (PEMFC)
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Phosphoric Acid Fuel Cell (PAFC)
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Molten Carbonate Fuel Cell (MCFC)
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
5.5. Solid Oxide Fuel Cell (SOFC)
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis by country
5.6. Direct Methanol Fuel Cell (DMFC)
5.6.1. Key market trends, growth factors and opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market share analysis by country
5.7. Others
5.7.1. Key market trends, growth factors and opportunities
5.7.2. Market size and forecast, by region
5.7.3. Market share analysis by country

CHAPTER 6: STATIONARY FUEL CELL MARKET, BY APPLICATION
6.1. Overview
6.1.1. Market size and forecast
6.2. Combined Heat and Power (CHP)
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Prime Power
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Uninterrupted Power Supply (UPS)
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
6.5. Others
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market share analysis by country

CHAPTER 7: STATIONARY FUEL CELL MARKET, BY END-USE INDUSTRY
7.1. Overview
7.1.1. Market size and forecast
7.2. Transportation
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market share analysis by country
7.3. Defense
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market share analysis by country
7.4. Oil and Gas
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market share analysis by country
7.5. Utilities
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by region
7.5.3. Market share analysis by country
7.6. Others
7.6.1. Key market trends, growth factors and opportunities
7.6.2. Market size and forecast, by region
7.6.3. Market share analysis by country

CHAPTER 8: STATIONARY FUEL CELL MARKET, BY REGION
8.1. Overview
8.1.1. Market size and forecast By Region
8.2. North America
8.2.1. Key trends and opportunities
8.2.2. Market size and forecast, by Capacity
8.2.3. Market size and forecast, by Type
8.2.4. Market size and forecast, by Application
8.2.5. Market size and forecast, by End-Use Industry
8.2.6. Market size and forecast, by country
8.2.6.1. U.S.
8.2.6.1.1. Key market trends, growth factors and opportunities
8.2.6.1.2. Market size and forecast, by Capacity
8.2.6.1.3. Market size and forecast, by Type
8.2.6.1.4. Market size and forecast, by Application
8.2.6.1.5. Market size and forecast, by End-Use Industry
8.2.6.2. Canada
8.2.6.2.1. Key market trends, growth factors and opportunities
8.2.6.2.2. Market size and forecast, by Capacity
8.2.6.2.3. Market size and forecast, by Type
8.2.6.2.4. Market size and forecast, by Application
8.2.6.2.5. Market size and forecast, by End-Use Industry
8.2.6.3. Mexico
8.2.6.3.1. Key market trends, growth factors and opportunities
8.2.6.3.2. Market size and forecast, by Capacity
8.2.6.3.3. Market size and forecast, by Type
8.2.6.3.4. Market size and forecast, by Application
8.2.6.3.5. Market size and forecast, by End-Use Industry
8.3. Europe
8.3.1. Key trends and opportunities
8.3.2. Market size and forecast, by Capacity
8.3.3. Market size and forecast, by Type
8.3.4. Market size and forecast, by Application
8.3.5. Market size and forecast, by End-Use Industry
8.3.6. Market size and forecast, by country
8.3.6.1. Germany
8.3.6.1.1. Key market trends, growth factors and opportunities
8.3.6.1.2. Market size and forecast, by Capacity
8.3.6.1.3. Market size and forecast, by Type
8.3.6.1.4. Market size and forecast, by Application
8.3.6.1.5. Market size and forecast, by End-Use Industry
8.3.6.2. France
8.3.6.2.1. Key market trends, growth factors and opportunities
8.3.6.2.2. Market size and forecast, by Capacity
8.3.6.2.3. Market size and forecast, by Type
8.3.6.2.4. Market size and forecast, by Application
8.3.6.2.5. Market size and forecast, by End-Use Industry
8.3.6.3. UK
8.3.6.3.1. Key market trends, growth factors and opportunities
8.3.6.3.2. Market size and forecast, by Capacity
8.3.6.3.3. Market size and forecast, by Type
8.3.6.3.4. Market size and forecast, by Application
8.3.6.3.5. Market size and forecast, by End-Use Industry
8.3.6.4. Italy
8.3.6.4.1. Key market trends, growth factors and opportunities
8.3.6.4.2. Market size and forecast, by Capacity
8.3.6.4.3. Market size and forecast, by Type
8.3.6.4.4. Market size and forecast, by Application
8.3.6.4.5. Market size and forecast, by End-Use Industry
8.3.6.5. Spain
8.3.6.5.1. Key market trends, growth factors and opportunities
8.3.6.5.2. Market size and forecast, by Capacity
8.3.6.5.3. Market size and forecast, by Type
8.3.6.5.4. Market size and forecast, by Application
8.3.6.5.5. Market size and forecast, by End-Use Industry
8.3.6.6. Rest of Europe
8.3.6.6.1. Key market trends, growth factors and opportunities
8.3.6.6.2. Market size and forecast, by Capacity
8.3.6.6.3. Market size and forecast, by Type
8.3.6.6.4. Market size and forecast, by Application
8.3.6.6.5. Market size and forecast, by End-Use Industry
8.4. Asia-Pacific
8.4.1. Key trends and opportunities
8.4.2. Market size and forecast, by Capacity
8.4.3. Market size and forecast, by Type
8.4.4. Market size and forecast, by Application
8.4.5. Market size and forecast, by End-Use Industry
8.4.6. Market size and forecast, by country
8.4.6.1. China
8.4.6.1.1. Key market trends, growth factors and opportunities
8.4.6.1.2. Market size and forecast, by Capacity
8.4.6.1.3. Market size and forecast, by Type
8.4.6.1.4. Market size and forecast, by Application
8.4.6.1.5. Market size and forecast, by End-Use Industry
8.4.6.2. Japan
8.4.6.2.1. Key market trends, growth factors and opportunities
8.4.6.2.2. Market size and forecast, by Capacity
8.4.6.2.3. Market size and forecast, by Type
8.4.6.2.4. Market size and forecast, by Application
8.4.6.2.5. Market size and forecast, by End-Use Industry
8.4.6.3. India
8.4.6.3.1. Key market trends, growth factors and opportunities
8.4.6.3.2. Market size and forecast, by Capacity
8.4.6.3.3. Market size and forecast, by Type
8.4.6.3.4. Market size and forecast, by Application
8.4.6.3.5. Market size and forecast, by End-Use Industry
8.4.6.4. South Korea
8.4.6.4.1. Key market trends, growth factors and opportunities
8.4.6.4.2. Market size and forecast, by Capacity
8.4.6.4.3. Market size and forecast, by Type
8.4.6.4.4. Market size and forecast, by Application
8.4.6.4.5. Market size and forecast, by End-Use Industry
8.4.6.5. Rest of Asia-Pacific
8.4.6.5.1. Key market trends, growth factors and opportunities
8.4.6.5.2. Market size and forecast, by Capacity
8.4.6.5.3. Market size and forecast, by Type
8.4.6.5.4. Market size and forecast, by Application
8.4.6.5.5. Market size and forecast, by End-Use Industry
8.5. LAMEA
8.5.1. Key trends and opportunities
8.5.2. Market size and forecast, by Capacity
8.5.3. Market size and forecast, by Type
8.5.4. Market size and forecast, by Application
8.5.5. Market size and forecast, by End-Use Industry
8.5.6. Market size and forecast, by country
8.5.6.1. Latin America
8.5.6.1.1. Key market trends, growth factors and opportunities
8.5.6.1.2. Market size and forecast, by Capacity
8.5.6.1.3. Market size and forecast, by Type
8.5.6.1.4. Market size and forecast, by Application
8.5.6.1.5. Market size and forecast, by End-Use Industry
8.5.6.2. Middle East
8.5.6.2.1. Key market trends, growth factors and opportunities
8.5.6.2.2. Market size and forecast, by Capacity
8.5.6.2.3. Market size and forecast, by Type
8.5.6.2.4. Market size and forecast, by Application
8.5.6.2.5. Market size and forecast, by End-Use Industry
8.5.6.3. Africa
8.5.6.3.1. Key market trends, growth factors and opportunities
8.5.6.3.2. Market size and forecast, by Capacity
8.5.6.3.3. Market size and forecast, by Type
8.5.6.3.4. Market size and forecast, by Application
8.5.6.3.5. Market size and forecast, by End-Use Industry

CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Player
9.4. Competitive Dashboard
9.5. Competitive Heatmap
9.6. Top player positioning, 2021

CHAPTER 10: COMPANY PROFILES
10.1. Ballard Power Systems
10.1.1. Company overview
10.1.2. Key Executives
10.1.3. Company snapshot
10.1.4. Operating business segments
10.1.5. Product portfolio
10.1.6. Business performance
10.1.7. Key strategic moves and developments
10.2. Posco Energy
10.2.1. Company overview
10.2.2. Key Executives
10.2.3. Company snapshot
10.2.4. Operating business segments
10.2.5. Product portfolio
10.3. Toshiba Fuel Cell Power Systems Corporation
10.3.1. Company overview
10.3.2. Key Executives
10.3.3. Company snapshot
10.3.4. Operating business segments
10.3.5. Product portfolio
10.3.6. Business performance
10.4. Denso Corporation
10.4.1. Company overview
10.4.2. Key Executives
10.4.3. Company snapshot
10.4.4. Operating business segments
10.4.5. Product portfolio
10.4.6. Business performance
10.5. Mitsubishi Hitachi Power Systems Ltd
10.5.1. Company overview
10.5.2. Key Executives
10.5.3. Company snapshot
10.5.4. Operating business segments
10.5.5. Product portfolio
10.5.6. Key strategic moves and developments
10.6. Fuji Electric Co Ltd.
10.6.1. Company overview
10.6.2. Key Executives
10.6.3. Company snapshot
10.6.4. Operating business segments
10.6.5. Product portfolio
10.6.6. Business performance
10.7. Fuelcell Energy Inc.
10.7.1. Company overview
10.7.2. Key Executives
10.7.3. Company snapshot
10.7.4. Operating business segments
10.7.5. Product portfolio
10.7.6. Business performance
10.7.7. Key strategic moves and developments
10.8. Plug Power Inc.
10.8.1. Company overview
10.8.2. Key Executives
10.8.3. Company snapshot
10.8.4. Operating business segments
10.8.5. Product portfolio
10.8.6. Business performance
10.9. Horizon Fuel Cell Technologies Pte Ltd.
10.9.1. Company overview
10.9.2. Key Executives
10.9.3. Company snapshot
10.9.4. Operating business segments
10.9.5. Product portfolio
10.10. Aisin Seiki Co., Ltd.
10.10.1. Company overview
10.10.2. Key Executives
10.10.3. Company snapshot
10.10.4. Operating business segments
10.10.5. Product portfolio
10.10.6. Business performance

List of Tables
Table 01. Global Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 02. Stationary Fuel Cell Market for Less Than 1Kw, by Region, 2021-2031 (Revenue, $Million)
Table 03. Stationary Fuel Cell Market for 1 kW to 5Kw, by Region, 2021-2031 (Revenue, $Million)
Table 04. Stationary Fuel Cell Market for 5Kw to 250Kw, by Region, 2021-2031 (Revenue, $Million)
Table 05. Stationary Fuel Cell Market for 250Kw to 1Mw, by Region, 2021-2031 (Revenue, $Million)
Table 06. Stationary Fuel Cell Market for More Than 1Mw, by Region, 2021-2031 (Revenue, $Million)
Table 07. Global Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 08. Stationary Fuel Cell Market for Proton Exchange Membrane Fuel Cell (Pemfc), by Region, 2021-2031 (Revenue, $Million)
Table 09. Stationary Fuel Cell Market for Phosphoric Acid Fuel Cell (Pafc), by Region, 2021-2031 (Revenue, $Million)
Table 10. Stationary Fuel Cell Market for Molten Carbonate Fuel Cell (Mcfc), by Region, 2021-2031 (Revenue, $Million)
Table 11. Stationary Fuel Cell Market for Solid Oxide Fuel Cell (Sofc), by Region, 2021-2031 (Revenue, $Million)
Table 12. Stationary Fuel Cell Market for Direct Methanol Fuel Cell (Dmfc), by Region, 2021-2031 (Revenue, $Million)
Table 13. Stationary Fuel Cell Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 14. Global Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 15. Stationary Fuel Cell Market for Combined Heat and Power (Chp), by Region, 2021-2031 (Revenue, $Million)
Table 16. Stationary Fuel Cell Market for Prime Power, by Region, 2021-2031 (Revenue, $Million)
Table 17. Stationary Fuel Cell Market for Uninterrupted Power Supply (Ups), by Region, 2021-2031 (Revenue, $Million)
Table 18. Stationary Fuel Cell Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 19. Global Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 20. Stationary Fuel Cell Market for Transportation, by Region, 2021-2031 (Revenue, $Million)
Table 21. Stationary Fuel Cell Market for Defense, by Region, 2021-2031 (Revenue, $Million)
Table 22. Stationary Fuel Cell Market for Oil and Gas, by Region, 2021-2031 (Revenue, $Million)
Table 23. Stationary Fuel Cell Market for Utilities, by Region, 2021-2031 (Revenue, $Million)
Table 24. Stationary Fuel Cell Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 25. Stationary Fuel Cell Market, by Region, 2021-2031 (Revenue, $Million)
Table 26. North America Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 27. North America Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 28. North America Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 29. North America Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 30. North America Stationary Fuel Cell Market, by Country, 2021-2031 (Revenue, $Million)
Table 31. U.S. Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 32. U.S. Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 33. U.S. Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 34. U.S. Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 35. Canada Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 36. Canada Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 37. Canada Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 38. Canada Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 39. Mexico Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 40. Mexico Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 41. Mexico Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 42. Mexico Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 43. Europe Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 44. Europe Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 45. Europe Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 46. Europe Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 47. Europe Stationary Fuel Cell Market, by Country, 2021-2031 (Revenue, $Million)
Table 48. Germany Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 49. Germany Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 50. Germany Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 51. Germany Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 52. France Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 53. France Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 54. France Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 55. France Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 56. UK Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 57. UK Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 58. UK Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 59. UK Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 60. Italy Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 61. Italy Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 62. Italy Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 63. Italy Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 64. Spain Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 65. Spain Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 66. Spain Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 67. Spain Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 68. Rest of Europe Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 69. Rest of Europe Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 70. Rest of Europe Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 71. Rest of Europe Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 72. Asia-Pacific Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 73. Asia-Pacific Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 74. Asia-Pacific Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 75. Asia-Pacific Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 76. Asia-Pacific Stationary Fuel Cell Market, by Country, 2021-2031 (Revenue, $Million)
Table 77. China Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 78. China Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 79. China Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 80. China Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 81. Japan Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 82. Japan Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 83. Japan Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 84. Japan Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 85. India Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 86. India Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 87. India Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 88. India Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 89. South Korea Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 90. South Korea Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 91. South Korea Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 92. South Korea Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 93. Rest of Asia-Pacific Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 94. Rest of Asia-Pacific Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 95. Rest of Asia-Pacific Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 96. Rest of Asia-Pacific Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 97. LAMEA Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 98. LAMEA Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 99. LAMEA Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 100. LAMEA Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 101. LAMEA Stationary Fuel Cell Market, by Country, 2021-2031 (Revenue, $Million)
Table 102. Latin America Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 103. Latin America Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 104. Latin America Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 105. Latin America Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 106. Middle East Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 107. Middle East Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 108. Middle East Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 109. Middle East Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 110. Africa Stationary Fuel Cell Market, by Capacity, 2021-2031 (Revenue, $Million)
Table 111. Africa Stationary Fuel Cell Market, by Type, 2021-2031 (Revenue, $Million)
Table 112. Africa Stationary Fuel Cell Market, by Application, 2021-2031 (Revenue, $Million)
Table 113. Africa Stationary Fuel Cell Market, by End-use Industry, 2021-2031 (Revenue, $Million)
Table 114. Ballard Power Systems: Key Executives
Table 115. Ballard Power Systems: Company Snapshot
Table 116. Ballard Power Systems: Product Segments
Table 117. Ballard Power Systems: Product Portfolio
Table 118. Ballard Power Systems: Key Strategies
Table 119. Posco Energy: Key Executives
Table 120. Posco Energy: Company Snapshot
Table 121. Posco Energy: Product Segments
Table 122. Posco Energy: Product Portfolio
Table 123. Toshiba Fuel Cell Power Systems Corporation: Key Executives
Table 124. Toshiba Fuel Cell Power Systems Corporation: Company Snapshot
Table 125. Toshiba Fuel Cell Power Systems Corporation: Product Segments
Table 126. Toshiba Fuel Cell Power Systems Corporation: Product Portfolio
Table 127. Denso Corporation: Key Executives
Table 128. Denso Corporation: Company Snapshot
Table 129. Denso Corporation: Service Segments
Table 130. Denso Corporation: Product Portfolio
Table 131. Mitsubishi Hitachi Power Systems Ltd.: Key Executives
Table 132. Mitsubishi Hitachi Power Systems Ltd.: Company Snapshot
Table 133. Mitsubishi Hitachi Power Systems Ltd.: Product Segments
Table 134. Mitsubishi Hitachi Power Systems Ltd.: Product Portfolio
Table 135. Mitsubishi Hitachi Power Systems Ltd.: Key Strategies
Table 136. Fuji Electric Co Ltd.: Key Executives
Table 137. Fuji Electric Co Ltd.: Company Snapshot
Table 138. Fuji Electric Co Ltd.: Product Segments
Table 139. Fuji Electric Co Ltd.: Product Portfolio
Table 140. Fuelcell Energy Inc.: Key Executives
Table 141. Fuelcell Energy Inc.: Company Snapshot
Table 142. Fuelcell Energy Inc.: Product Segments
Table 143. Fuelcell Energy Inc.: Product Portfolio
Table 144. Fuelcell Energy Inc.: Key Strategies
Table 145. Plug Power Inc.: Key Executives
Table 146. Plug Power Inc.: Company Snapshot
Table 147. Plug Power Inc.: Product Segments
Table 148. Plug Power Inc.: Product Portfolio
Table 149. Horizon Fuel Cell Technologies Pte Ltd.: Key Executives
Table 150. Horizon Fuel Cell Technologies Pte Ltd.: Company Snapshot
Table 151. Horizon Fuel Cell Technologies Pte Ltd.: Product Segments
Table 152. Horizon Fuel Cell Technologies Pte Ltd.: Product Portfolio
Table 153. Aisin Seiki Co. Ltd.: Key Executives
Table 154. Aisin Seiki Co. Ltd.: Company Snapshot
Table 155. Aisin Seiki Co. Ltd.: Product Segments
Table 156. Aisin Seiki Co. Ltd.: Product Portfolio

List of Figures
Figure 01. Stationary Fuel Cell Market, 2021-2031
Figure 02. Segmentation of Stationary Fuel Cell Market, 2021-2031
Figure 03. Top Investment Pockets in Stationary Fuel Cell Market (2022-2031)
Figure 04. High Bargaining Power of Suppliers
Figure 05. Moderate Bargaining Power of Buyers
Figure 06. Moderate Threat of Substitutes
Figure 07. Moderate Threat of New Entrants
Figure 08. Moderate Intensity of Rivalry
Figure 09. Drivers, Restraints and Opportunities: Globalstationary Fuel Cell Market
Figure 10. Impact of Key Regulation: Stationary Fuel Cell Market
Figure 11. Pricing Analysis: Stationary Fuel Cell Market 2021 and 2031
Figure 12. Value Chain Analysis: Stationary Fuel Cell Market
Figure 13. Stationary Fuel Cell Market, by Capacity, 2021(%)
Figure 14. Comparative Share Analysis of Stationary Fuel Cell Market for Less Than 1Kw, by Country 2021-2031(%)
Figure 15. Comparative Share Analysis of Stationary Fuel Cell Market for 1 kW to 5Kw, by Country 2021-2031(%)
Figure 16. Comparative Share Analysis of Stationary Fuel Cell Market for 5Kw to 250Kw, by Country 2021-2031(%)
Figure 17. Comparative Share Analysis of Stationary Fuel Cell Market for 250Kw to 1Mw, by Country 2021-2031(%)
Figure 18. Comparative Share Analysis of Stationary Fuel Cell Market for More Than 1Mw, by Country 2021-2031(%)
Figure 19. Stationary Fuel Cell Market, by Type, 2021(%)
Figure 20. Comparative Share Analysis of Stationary Fuel Cell Market for Proton Exchange Membrane Fuel Cell (Pemfc), by Country 2021-2031(%)
Figure 21. Comparative Share Analysis of Stationary Fuel Cell Market for Phosphoric Acid Fuel Cell (Pafc), by Country 2021-2031(%)
Figure 22. Comparative Share Analysis of Stationary Fuel Cell Market for Molten Carbonate Fuel Cell (Mcfc), by Country 2021-2031(%)
Figure 23. Comparative Share Analysis of Stationary Fuel Cell Market for Solid Oxide Fuel Cell (Sofc), by Country 2021-2031(%)
Figure 24. Comparative Share Analysis of Stationary Fuel Cell Market for Direct Methanol Fuel Cell (Dmfc), by Country 2021-2031(%)
Figure 25. Comparative Share Analysis of Stationary Fuel Cell Market for Others, by Country 2021-2031(%)
Figure 26. Stationary Fuel Cell Market, by Application, 2021(%)
Figure 27. Comparative Share Analysis of Stationary Fuel Cell Market for Combined Heat and Power (Chp), by Country 2021-2031(%)
Figure 28. Comparative Share Analysis of Stationary Fuel Cell Market for Prime Power, by Country 2021-2031(%)
Figure 29. Comparative Share Analysis of Stationary Fuel Cell Market for Uninterrupted Power Supply (Ups), by Country 2021-2031(%)
Figure 30. Comparative Share Analysis of Stationary Fuel Cell Market for Others, by Country 2021-2031(%)
Figure 31. Stationary Fuel Cell Market, by End-use Industry, 2021(%)
Figure 32. Comparative Share Analysis of Stationary Fuel Cell Market for Transportation, by Country 2021-2031(%)
Figure 33. Comparative Share Analysis of Stationary Fuel Cell Market for Defense, by Country 2021-2031(%)
Figure 34. Comparative Share Analysis of Stationary Fuel Cell Market for Oil and Gas, by Country 2021-2031(%)
Figure 35. Comparative Share Analysis of Stationary Fuel Cell Market for Utilities, by Country 2021-2031(%)
Figure 36. Comparative Share Analysis of Stationary Fuel Cell Market for Others, by Country 2021-2031(%)
Figure 37. Stationary Fuel Cell Market by Region, 2021
Figure 38. U.S. Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 39. Canada Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 40. Mexico Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 41. Germany Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 42. France Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 43. UK Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 44. Italy Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 45. Spain Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 46. Rest of Europe Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 47. China Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 48. Japan Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 49. India Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 50. South Korea Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 51. Rest of Asia-Pacific Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 52. Latin America Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 53. Middle East Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 54. Africa Stationary Fuel Cell Market, 2021-2031 ($Million)
Figure 55. Top Winning Strategies, by Year
Figure 56. Top Winning Strategies, by Development
Figure 57. Top Winning Strategies, by Company
Figure 58. Product Mapping of Top 10 Players
Figure 59. Competitive Dashboard
Figure 60. Competitive Heatmap: Stationary Fuel Cell Market
Figure 61. Top Player Positioning, 2021
Figure 62. Ballard Power Systems: Net Revenue, 2019-2021 ($Million)
Figure 63. Ballard Power Systems: Research & Development Expenditure, 2019-2021
Figure 64. Ballard Power Systems: Revenue Share by Segment, 2021 (%)
Figure 65. Ballard Power Systems: Revenue Share by Region, 2021 (%)
Figure 66. Toshiba Fuel Cell Power Systems Corporation: Net Revenue, 2020-2022 ($Million)
Figure 67. Toshiba Fuel Cell Power Systems Corporation: Revenue Share by Segment, 2022 (%)
Figure 68. Toshiba Fuel Cell Power Systems Corporation: Revenue Share by Region, 2022 (%)
Figure 69. Denso Corporation: Net Revenue, 2020-2022 ($Million)
Figure 70. Denso Corporation: Revenue Share by Region, 2022 (%)
Figure 71. Denso Corporation: Revenue Share by Segment, 2021 (%)
Figure 72. Fuji Electric Co Ltd.: Net Revenue, 2020-2022 ($Million)
Figure 73. Fuji Electric Co Ltd.: Revenue Share by Segment, 2022 (%)
Figure 74. Fuji Electric Co Ltd.: Revenue Share by Region, 2022 (%)
Figure 75. Fuelcell Energy Inc.: Net Revenue, 2019-2021 ($Million)
Figure 76. Fuelcell Energy Inc.: Research & Development Expenditure, 2019-2021
Figure 77. Fuelcell Energy Inc.: Revenue Share by Segment, 2021 (%)
Figure 78. Fuelcell Energy Inc.: Revenue Share by Region, 2021 (%)
Figure 79. Plug Power Inc.: Research & Development Expenditure, 2019-2021
Figure 80. Plug Power Inc.: Net Revenue, 2019-2021 ($Million)
Figure 81. Plug Power Inc.: Revenue Share by Segment, 2021 (%)
Figure 82. Plug Power Inc.: Revenue Share by Region, 2021 (%)
Figure 83. Aisin Seiki Co. Ltd.: Net Revenue, 2020-2022 ($Million)
Figure 84. Aisin Seiki Co. Ltd.: Revenue Share by Segment, 2022 (%)
Figure 85. Aisin Seiki Co. Ltd.: Revenue Share by Region, 2022 (%)

Executive Summary

According to the report titled, 'Stationary Fuel Cell Market,' the stationary fuel cell market was valued at $2.6 billion in 2021, and is estimated to reach $9 billion by 2031, growing at a CAGR of 13.1% from 2022 to 2031.

The stationary fuel cell is a system generating power through an electrochemical reaction. It can be used as a source for primary applications, a backup source, or an electrical source in critical operations. It also helps to reduce oil and other harmful emissions and support an eco-friendly environment in transportation and power generation. The stationary fuel cell enables cleaner, adaptable, and innovative power solutions in various applications to the present scenario. These cells are operative in terms of their utilization in electrical applications and power generation.

One of the key drivers of the stationary fuel cell market is the increase in strict government regulations related to CO2 and SO2 emission. For instance, in 2020, European Commission issued a regulatory proposal confirming an 81g/km target by 2025, and 59g/Km target by 2030. Strict government regulations such as 81g/km CO2 emissions in Europe and 113g/Km CO2 emissions after 2022 by Corporate Average Fuel Economy (CAFE) in the U.S. are the major factors supporting the growth of the stationary fuel cell market.

The surge in the need for environment-friendly energy storage solutions propels the demand for renewable fuel cell energy storage solutions. Fuel cells are considered environment-friendly as compared to the other conventional power generation system, thereby increasing their demand worldwide. Strict government mandates in Asia-Pacific, mainly in China and Japan also contribute toward the growth of the stationary fuel cell market. In addition, the Go Green” revolution is another factor driving the market growth. Stringent government regulations related to carbon emissions are expected to propel the growth of the stationary fuel cell market.

The stationary fuel cell market analysis is segmented on the basis of capacity, type, application, end-use industry, and region.

By type, the market is divided into less than 1 KW, 1 KW to 5 KW, 5 KW to 250 KW, 250 to 1 MW, and more than 1 MW. On the basis of type, the 5 KW to 250 KW segment accounted for the largest market share in 2021, owing to its wide range of end-use applications in the oil and gas, prime power, and combined heat and power industry.

On the basis of type, the stationary fuel cell market is divided into Proton Exchange Membrane Fuel Cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Molten Carbonate Fuel Cell (MCFC), Solid Oxide Fuel Cell (SOFC), Direct Methanol Fuel Cell (DMFC), and other. Solid Oxide Fuel Cell (SOFC) type stationary fuel cell accounted for the largest market share in 2021, owing to their wide range of applications in the oil and gas industries to reduce hydrocarbon emission.

On the basis of application, the stationary fuel cell market is divided into combined heat and power, prime power, uninterrupted power supply, and others. By application, the prime power segment accounted for the largest revenue share in the stationary fuel cell market in 2021. The maximum power available for a variable electrical load for an endless number of hours is referred to as prime power. A fuel cell market trend for prime power that is predicted to have a favorable influence in the next years is the rising demand for the self-generation of energy. The rising requirement for reliable power sources in developed countries is driving the implementation of distributed energy generation.

On the basis of the end-use industry, the stationary fuel cell market is divided into transportation, defense, oil and gas, utilities, and others. By end-use industry, the transportation segment accounted for the largest share in 2021, owing to the use of hydrogen fuel cell-based engines to power transportation vehicles. In addition, the increase in investment toward the construction of hydrogen fueling station infrastructure has driven market growth.

Region-wise, Asia-Pacific accounted for the largest market share in the market and is projected to grow at a CAGR of 13.5% during the forecast period. An increase in the investment of the government and private industries towards the hydrogen infrastructure has benefited the Global stationary fuel cell market.

KEY FINDINGS OF THE STUDY

As per stationary fuel cell market analysis, on the basis of capacity, the 5KW to 250 KW segment emerged as the global leader by acquiring more than 40% of the stationary fuel cell market share in 2021, and is anticipated to continue this trend during the forecast period.

On the basis of type, the proton exchange membrane fuel cell segment accounted for more than half of the global market share in FY2021.

On the basis of application, the prime power segment accounted for nearly half of the global market share in FY2021.

On the basis of end-use industry, the transportation segment accounted for more than one-third of the global market share in FY2021.

On the basis of region, Asia-Pacific is the major consumer of stationary fuel cell among other regions.

COVID-19 Impact Analysis
In major economies including the U.S., Canada, Germany, China, and India, the COVID-19 epidemic caused the temporary and long-term suspension of production and building activity. Various other nations have experienced a similar economic downturn. The worldwide stationary fuel cell market was severely impacted by this drop in industrial production and the postponement of building projects.

During the post-pandemic outbreak, the government has invested in the development of hydrogen generation plants to increase the production of hydrogen which can replace fossil fuels in transportation and power generation. The decline in fossil fuel resources and increase in demand for fossil fuels has led to a rise in the price of commodities which led the national level institutes to invest in various eco-friendly alternatives to replace fossil fuels. The above-mentioned initiatives will have a positive impact on the development of the stationary fuel cell market.

Competitive Landscape
Key players in the stationary fuel cell industry Ballard Power Systems, Posco Energy, Toshiba Fuel Cell Power System Corporation, Denso Corporation, Mitsubishi Hitachi power systems Ltd., FUJI Electric Co. Ltd., Fuelcell Energy Inc., Plug Power Inc., Horizon Fuel Cell Technologies Pte, and Aisin Seiki Co., Ltd.

Companies Mentioned

  • Ballard Power Systems
  • Fuji Electric Co Ltd.
  • Horizon Fuel Cell Technologies Pte Ltd.
  • Plug Power Inc.
  • Mitsubishi Hitachi Power Systems Ltd
  • Toshiba Fuel Cell Power Systems Corporation
  • Posco Energy
  • Denso Corporation
  • Fuelcell Energy Inc.
  • Aisin Seiki Co., Ltd.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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