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Stationary Fuel Cell Market: Global Opportunity Analysis and Industry Forecast 2020-2027
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Stationary Fuel Cell Market: Global Opportunity Analysis and Industry Forecast 2020-2027
Request Now !Stationary fuel cell is a system generating power through an electrochemical reaction. It can be used as a source for primary applications, as a backup source, or as an electrical source in critical operations. Stationary fuel cell is an efficient source of producing heat compared to its alternatives. It is 90% more efficient in heat generation. Therefore, industries have now shifted to stationary fuel cells to reduce oil and other harmful emissions and support an eco-friendly environment. The stationary fuel cell market enables cleaner, adaptable, and innovative power solutions to the present scenario. These cells are very operative in terms of their usage in electrical applications and power generation.Â
Market scope and structure analysis:
                   Report Metric |                                                   Details |
 Market size available for years |  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast unit |  Value (USD) |
 Segments covered |  Type, Application, Industry Vertical |
 Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
 Companies covered | Altergy, Bloom Energy, Doosan Fuel Cell America, Inc., FuelCell Energy, Inc., Ballard Power Systems, POSCO Energy ,Plug Power, Inc., SOLIDpower, SFC Energy AG, and Hydrogenics |
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COVID-19 scenario:
- As the world is fighting the current pandemic situation, industries have been severely affected. Industries have shut and production processes have been halted due to the nationwide lockdown.Â
- The automotive has been adversely hit by the current pandemic situation. There is lack of availability of raw materials and manpower; while the manufacturing processes have been halted.Â
- A significant reduction in demand for automotive vehicles can be witnessed, owing to not being considered as essential goods. This has led to a prominent negative growth in the stationary fuel cell market.
- However, global pandemic disease COVID-19 has forced the transportation, defense, fuel cell vehicles, and oil & gas industry manufacturers to shut down their operations, which is expected to decrease the demand for stationary fuel cell.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis:
The demand for stationary fuel cell is growing due to increase in use of energy sources and day by day increment in several industries. Countries under the Paris Agreement are moving toward using their primary sources with solar, wind, etc. The United States Environmental Protection Agency (USEPA) Combined Heat Power Partnership joined hands with the Green Power partnership to create awareness about stationary fuel cell, which resulted in an exceptional growth in its value. The growing focus on environmental safety of stationary fuel cells has resulted in an exceptional growth of the market. The initial years of the forecast period is expected to a slow growth of the market due to the high cost of fuel cells. However, in the later years, the price is predicted to reduce than the present value, which thereby fueling the stationary fuel cell market growth.
Europe shifted its focus to reduce carbon emission; therefore, it increased the use of stationary fuel cells. The fuel cell market flourished in Europe due to innovations in using carbon free transport and more use of renewable sources. The Proton-exchange membrane fuel cells (PEMFC) witnessed growth in the stationary fuel cell market. This fuel cell is expected to dominate the market in future due to its wide applications in automobiles, telecommunication, forklift, etc. Moreover, stationary fuel cell is 60% more energy-efficient than conventional power systems in generating electricity. It produces less noise and has small number of moving parts. Therefore, it requires less maintenance in comparison to powered systems.Â
Restraints of the market:
Despite stationary fuel cell being efficient and environment-friendly, the major constraint is its high price. The proton exchange membrane fuel cell technology is taking up the market gradually but the material requirement to build it is worth 3-4 times the cost of cell.Â
Key developments:
Bloom Energy Corporation has taken initiatives to expand the fuel cells market in Asia-Pacific. Power Cell Sweden AB with the help of Siemens has introduced fuel cell in marine applications. Pug Power Inc. is a supplier of hydrogen fuel and sells membrane electrode assemblies, which are extensively used in vehicles to generate electricity. Furthermore, Doosan Corporation has started working to use stationary fuel cells in industries in the North America region.
Key segments covered:
                       Segments |                                                   Sub-segments |
 Type |
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 Application |
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 Industry Vertical |
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Key benefits of the report:
- This study presents the analytical depiction of the stationary fuel cell market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the stationary fuel cell market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the stationary fuel cell market growth scenario.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.Â
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