Selbyville, Delaware, March 14, 2022 (GLOBE NEWSWIRE) --
The stationary fuel cell market is anticipated to surpass USD 4.4 billion by 2030, as reported in a research study by Global Market Insights Inc. Mounting investments from both the private & public establishments to develop the hydrogen infrastructure along with the capability of the systems to provide both primary power & backup solutions among others will augment the industry landscape.
Increase in number of COVID- 19 cases has affected a variety of industrial operations, causing delays in number of production processes. However, upliftment of lockdown, ongoing vaccination drives combined with rigorous measures by the developing countries to develop the hydrogen economy will stimulate the product demand. Growing customer inclination toward hydrogen fuel products coupled with the introduction of incentives & allowances will further encourage the industries.
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Growing consumer awareness concerning the advantages of stationary fuel cells along with robust funding programs including incentives & subsidies from both the government & private sectors will complement the industry dynamics in Europe. Development of micro-CHP units and introduction of regulatory programs will stimulate the product adoption. For instance, introduction of the KfW programme in Germany is set to drive the installation of FC systems. Surging government activities to develop the residential & commercial infrastructure coupled with modern and technical advancements & innovations in the fuel cell technology will support the product penetration in the region.
Backup power utilizes a combination of batteries and fuel cells that provide Direct Current (DC) power to run any equipment or facility. These systems have internal batteries which provide temporary power until the fuel cell reaches peak power production and takes over the load. The adoption of the stationary fuel cells will continue to ramp up quickly and further operate indefinitely as long as there is a continuing source of fuel. Primarily, Proton Exchange Membrane (PEM) fuel cells are used for this application type which is set to stimulate the technology adoption.
Some of the key findings of the stationary fuel cell market report include:
- Shifting focus on reducing GHG emissions, improving on air quality along with shifting focus toward developing a sustainable hydrogen economy will propel the industry landscape.
- The stationary fuel cell industry is growing rapidly on account of large-scale installations across the utility segment which will drive the market growth.
- Swift shift toward the deployment of micro CHP units primarily in the European countries will augment the market size.
- The major players in the stationary fuel cell market include Cummins, AFC Energy Plc, Ballard Power Systems, Bloom Energy, GenCell Ltd., Plug Power, Posco Energy, FuelCell Energy, and Altergy, among others.
- Surging adoption for large-scale systems to provide prime power across off grid/remote areas is set to enhance the business landscape.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Stationary fuel cell industry 360° synopsis, 2018 - 2030
2.1.1 Business trends
2.1.2 Capacity trends
2.1.3 End use trends
2.1.4 Application trends
2.1.5 Regional trends
Chapter 3 Stationary Fuel Cell Industry Insights
3.1 Industry ecosystem analysis
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.4.1 Top 10 countries impacted by COVID- 19
3.4.2 Overall view
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Initiatives toward developing a hydrogen economy
3.5.1.2 Increasing demand for small and large capacity stationary systems
3.5.1.3 More efficient than batteries
3.5.1.4 Environment-friendly and a better alternative than existing options
3.5.2 Industry pitfalls & challenges
3.5.2.1 Lack of infrastructure
3.6 Growth potential analysis
3.7 Porter's Analysis
3.8 Price trend analysis
3.9 Competitive landscape, 2021
3.10 PESTEL Analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
