Wilmington, Delaware, United States, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global stationary fuel cell was projected to attain US$ 4.33 billion in 2021. It is anticipated to garner a 12.07% CAGR from 2022 to 2031 and by 2031 the market is likely to attain US$ 13.41 billion by 2031.
There are several durations of backup that fuel cells may offer, from eight hours to three days. These cells are small and may be included in many different appliances and gadgets. It is also known that fuel cells may function at a lower temperature than traditional batteries.
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Global Stationary Fuel Cell: Key Players
With significant research and development in sustainable energy, the majority of businesses are using new tactics and technology. Manufacturers of stationary fuel cell frequently use mergers and acquisitions together with product portfolio expansion.
The following companies are well-known participants in the global stationary fuel cell:
- Bloom Energy
- Ballard Power Systems Inc.
- FuelCell Energy, Inc.
- Plug Power Inc.
- Hydrogenics Corporation
- Ceres Power Holdings plc
- Doosan Corporation
- Intelligent Energy Limited
- Toshiba Corporation
- Panasonic Corporation
- Mitsubishi Hitachi Power Systems Ltd.
- SerEnergy A/S
- Sainergy Tech, Inc.
- FC TecNrgy Pvt Ltd.
- K- Pas Instronic Engineers India Private Limited
- Power & Energy Inc.
They require less than a minute of maintenance in six years to provide continuous electricity. Because of these characteristics, fuel cells are a more dependable energy source than traditional batteries for backup power systems.
Key Findings of the Market Report
- In 2021, the solid oxide fuel cell sector accounted for a significant 57.68% of the global market.
- Over the course of the projected period, the sector is anticipated to dominate the market.
- Fuel is oxidized in SOFCs, an electrochemical conversion device, to create electricity.
- Ceramic electrolytes or solid oxides make up these fuel cells. Since they can operate at high temperatures, they are utilized in large stationary fuel cell power plants. Given the great efficiency, stability, and affordability, the SOFC market is predicted to expand dramatically over the next several years.
Market Trends for Stationary Fuel Cells
- The planar bipolar stacking and stacks with tubular cells are the two stacking categories used to categorize the global stationary fuel cell market. With a 64.3% market share in 2021, the planar bipolar stacking sector led the global stationary fuel cell market.
- Fuel cell stack designs most commonly use planar bipolar stacking. Interconnects are used to electrically link each individual unit cell in this stacking. Particularly for flat plate cells, planar bipolar stacking creates an electrical series link between neighboring cells.
- It offers a gas barrier to keep fuel and the oxidant of the neighboring cells apart. Short electronic current channels are produced by the electrically straightforward planar-bipolar stacking architecture, which reduces cell resistance.
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Global Market for Stationary Fuel Cell: Regional Outlook
- In 2021, Asia Pacific held a significant portion of the global market, accounting for 57.11%. In the near future, it is anticipated that industrial activity and the manufacturing sector would expand rapidly in India, China, and Japan. With a higher number of fuel cell vehicles on the road, China is the largest automotive market in the world. Asia Pacific has a strong need for stationary fuel cells as a result.
- Notable stationary fuel cell markets are also found in North America and Europe. In 2021, these regions accounted for 22.9% and 17.4% of the global market, respectively. The adoption of strict government rules aimed at reducing carbon emissions and the move toward renewable energy sources are responsible for the market's growth in North America.
- Latin America and the Middle East & Africa make up very small portions of the global stationary fuel cell industry.
A few of the key developments by the players in this market are:
- To deliver carbon capture solutions, FuelCell Energy, Inc. teamed with the Drax Power Station, located in the United Kingdom, on June 27, 2019. With a capacity of more than 3,900 megawatts of renewable energy, Drax Power Station is a well-known single-site renewable power generator in the United Kingdom.
- Plug Power Inc. acquired Montreal, Canada-based EnergyOr, a company that specializes in hydrogen fuel cells, on June 06, 2019. Advanced lightweight and compact polymer electrolyte hydrogen fuel cell devices are manufactured by EnergyOr and are utilized in aircraft, robotics, and small-scale material handling applications.
Global Stationary Fuel Cell Segmentation
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)
- Others (Including Alkaline Fuel Cell)
Stacking
- Planar Bipolar Stacking
- Stacks with Tubular Cells
End User
- Residential
- Commercial
- Industrial
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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