Report Code: A07838 | Pages: NA | Mar 2023 | 1829 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Stationary Fuel Cell Market
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
COVID-19 scenario:
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
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
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 benefits of the report:
Stationary Fuel Cell Market Report Highlights
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Key Market Players | FuelCell Energy, Inc., Ballard Power Systems, POSCO Energy, Plug Power, Inc., SOLIDpower, Altergy, Bloom Energy, Doosan Fuel Cell America, Inc., SFC Energy AG, Hydrogenics |
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