Stationary Fuel Cell Market Size

  • Report ID: 6677
  • Published Date: Nov 12, 2024
  • Report Format: PDF, PPT

Stationary Fuel Cell Market Size

Stationary Fuel Cell Market size was over USD 6.3 billion in 2024 and is estimated to reach USD 25 billion by the end of 2037, expanding at a CAGR of 12.2% during the forecast timeline, i.e., 2025-2037. In 2025, the industry size of stationary fuel cell is assessed at USD 7 billion.

The growth is driven by the demand for clean energy solutions in various businesses. The industry is also adopting these technologies to gain sustainability by introducing efficient alternatives. For instance, in May 2023, BASF and Advent Technologies partnered to establish a reliable supply chain for hydrogen fuel cells in Europe. According to the agreement, BASF will accelerate the production of Celtec MEA technology to support the planned Advent fuel cell manufacturing facility in Greece.

The growing demand for electricity due to emerging private organizations is inflating the demand in the stationary fuel cell market for sustainable and cost-effective solutions. According to an EIA report published in June 2023, the energy consumption by commercial buildings accounted to be 32% of the total U.S. power usage. Thus, with the increase in the number of businesses and electricity prices, the demand for affordable energy alternatives is rising. Fuel cells can act as a decentralized power generation tool, reducing the pressure upon conventional power grids. The push for achieving neutrality goals is also forcing corporate organizations to implement less-emission power generators. This is further influencing the adoption rate of energy-efficient solutions to grow higher.


Stationary Fuel Cell Market
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Author Credits:  Dhruv Bhatia


  • Report ID: 6677
  • Published Date: Nov 12, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the stationary fuel cell market was over USD 6.3 billion.

The market size for the stationary fuel cell market is projected to reach USD 25 billion by the end of 2037 expanding at a CAGR of 12.2% during the forecast period i.e., between 2025-2037.

The major players in the market are Bloom Energy, Ballard Power Systems Inc., FuelCell Energy, Inc., Plug Power Inc., Hydrogenics Corporation, Ceres Power Holdings plc, Doosan Corporation Intelligent Energy Limited, SerEnergy A/S, Sainergy Tech, Inc., FC TecNrgy Pvt Ltd., K- Pas Instronic Engineers India Private Limited, Power & Energy, Inc., and others.

In terms of type, the solid oxide fuel cell segment is anticipated to garner the largest market share of 58.7% by 2037 and display lucrative growth opportunities during 2025-2037.

The Asia Pacific market is projected to hold the largest market share, 59.1%, by the end of 2037 and provide more business opportunities in the future.
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