Stationary Fuel Cell Market Size to Grow by 442.51 MW | Rising Energy Consumption to Drive Growth | Technavio – Press Release

NEW YORK, April 18, 2022 /PRNewswire/ — The stationary fuel cell market share is expected to increase by 442.51 megawatts from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 20.22% during the forecast period.

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Driver and Challenge

The rising energy consumption due to the rapid growth in urbanization is driving the global stationary fuel cell industry growth. Currently, fossil fuel meets most of the power demands. However, it is harmful to the atmosphere. Thus, various countries across the world are making efforts in decarbonizing the power system, which has increased the demand for a clean and efficient power source. Fuel cells are highly efficient. Power is generated through an electrochemical reaction in fuel cells, which does not involve any combustion. The by-products from the process are water and heat, thus making fuel cells one of the cleanest power sources. Therefore, the growing adoption of stationary fuel cells will drive the market during the forecast period.

The high cost of fuel cells is challenging the global stationary fuel cell market growth. The adoption of fuel cells has increased gradually over the years owing to their higher efficiency and environmental benefits. However, their cost is relatively higher than alternative technologies such as gas engines or micro-turbine. Thus, manufacturers need subsidies to stay competitive in the market to reduce initial costs and increase adoption. However, subsidies would gradually reduce, which would make it necessary to increase investments in technology developed to reduce the overall cost. Such factors may limit the market growth during the forecast period.

Major Stationary Fuel Cell Companies:

• AFC Energy PLC
• Aisin Corp.
• Altergy Systems
• AVL List GmbH
• Ballard Power Systems Inc.
• Bloom Energy Corp.
• Cellkraft AB
• Ceres Power Holdings plc
• Convion Ltd.
• Doosan Corp.

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Stationary Fuel Cell Market Application Outlook (Revenue, USD MW, 2021-2026)

• Prime power – size and forecast 2021-2026
• Combined heat and power – size and forecast 2021-2026
• Others – size and forecast 2021-2026

Stationary Fuel Cell Market Geography Outlook (Revenue, USD MW, 2021-2026)

• North America – size and forecast 2021-2026
• APAC – size and forecast 2021-2026
• Europe – size and forecast 2021-2026
• South America – size and forecast 2021-2026
• MEA – size and forecast 2021-2026

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Regional Analysis

APAC will account for 42% of the market’s growth during the forecast period. The increase in investment in fuel cells and advances in technology will drive the stationary fuel cell market growth in APAC during the forecast period. Market growth in this region will be faster than the growth of the market in other regions. Japan, South Korea (Republic of Korea), and China are the key countries for the stationary fuel cells market in APAC.

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Table of Contents

1. Executive Summary                         

               1.1 Market Overview 

                              Exhibit 01:  Key Finding 1

                              Exhibit 02:  Key Finding 1

                              Exhibit 03:  Key Finding 2

                              Exhibit 04:  Key Finding 3

                              Exhibit 05:  Key Finding 4

                              Exhibit 06:  Key Finding 5

                              Exhibit 07:  Key Finding 5

2. Market Landscape                            

               2.1 Market ecosystem             

                              Exhibit 08:  Parent market

                              Exhibit 09:  Market characteristics

               2.2 Value chain analysis           

                              Exhibit 10:  Value chain analysis: Renewable electricity

                              2.2.1 Inputs

                              2.2.2 Electricity generation

                              2.2.3 Electricity transmission

                              2.2.4 Electricity distribution

                              2.2.5 End-users

3. Market Sizing                      

               3.1 Market segment analysis  

                              Exhibit 11:  Market segments

               3.2 Market size 2021 

               3.3 Market definition

                              Exhibit 12:  Offerings of vendors included in the market definition

               3.4 Market outlook: Forecast for 2021 – 2026 

                              Exhibit 13:  Global – Market size and forecast 2021 – 2026 (MW)

                              Exhibit 14:  Global market: Year-over-year growth 2021 – 2026 (%)

4. Five Forces Analysis                         

               4.1 Five Forces Summary         

                              Exhibit 15:  Five forces analysis 2021 & 2026

               4.2 Bargaining power of buyers            

                              Exhibit 16: Bargaining power of buyers

               4.3 Bargaining power of suppliers        

                              Exhibit 17: Bargaining power of suppliers

               4.4 Threat of new entrants     

                              Exhibit 18: Threat of new entrants

               4.5 Threat of substitutes          

                              Exhibit 19: Threat of substitutes

               4.6 Threat of rivalry   

                              Exhibit 20: Threat of rivalry

               4.7 Market condition 

                              Exhibit 21:  Market condition – Five forces 2021

5 Market Segmentation by Application                        

               5.1 Market segments

                              Exhibit 22:  Application – Market share 2021-2026 (%)

               5.2 Comparison by Application             

                              Exhibit 23:  Comparison by Application

               5.3 Prime power – Market size and forecast 2021-2026              

                              Exhibit 24:  Prime power – Market size and forecast 2021-2026 (MW)

                              Exhibit 25:  Prime power – Year-over-year growth 2021-2026 (%)

               5.4 Combined heat and power – Market size and forecast 2021-2026   

                              Exhibit 26:  Combined heat and power – Market size and forecast 2021-2026 (MW)

                              Exhibit 27:  Combined heat and power – Year-over-year growth 2021-2026 (%)

               5.5 Others – Market size and forecast 2021-2026          

                              Exhibit 28:  Others – Market size and forecast 2021-2026 (MW)

                              Exhibit 29:  Others – Year-over-year growth 2021-2026 (%)

               5.6 Market opportunity by Application              

                              Exhibit 30:  Market opportunity by Application

6. Customer landscape                        

               6.1 Overview

                              Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                              Exhibit 31: Customer landscape

7. Geographic Landscape                    

               7.1 Geographic segmentation

                              Exhibit 32:  Market share by geography 2021-2026 (%)

               7.2 Geographic comparison    

                              Exhibit 33: Geographic comparison

               7.3 North America – Market size and forecast 2021-2026          

                              Exhibit 34:  North America – Market size and forecast 2021-2026 (MW)

                              Exhibit 35:  North America – Year-over-year growth 2021-2026 (%)

               7.4 APAC – Market size and forecast 2021-2026             

                              Exhibit 36:  APAC – Market size and forecast 2021-2026 (MW)

                              Exhibit 37:  APAC – Year-over-year growth 2021-2026 (%)

               7.5 Europe – Market size and forecast 2021-2026         

                              Exhibit 38:  Europe – Market size and forecast 2021-2026 (MW)

                              Exhibit 39:  Europe – Year-over-year growth 2021-2026 (%)

               7.6 South America – Market size and forecast 2021-2026          

                              Exhibit 40:  South America – Market size and forecast 2021-2026 (MW)

                              Exhibit 41:  South America – Year-over-year growth 2021-2026 (%)

               7.7 MEA – Market size and forecast 2021-2026              

                              Exhibit 42:  MEA – Market size and forecast 2021-2026 (MW)

                              Exhibit 43:  MEA – Year-over-year growth 2021-2026 (%)

               7.8 Key leading countries        

                              Exhibit 44:  Key leading countries

               7.9 Market opportunity by geography

                              Exhibit 45:  Market opportunity by geography ($ billion)

8. Drivers, Challenges, and Trends                  

               8.1 Market drivers      

                              8.1.1 Rising energy consumption

                              8.1.2 Growing adoption of fuel cells for combined heat and power

                              8.1.3 Favorable government policies

               8.2 Market challenges              

                              8.2.1 High fuel cell cost

                              8.2.2 Competition from alternative technologies

                              8.2.3 Declining lithium-ion battery price

                              Exhibit 46:  Impact of drivers and challenges

               8.3 Market trends      

                              8.3.1 Growing preference for self-generation

                              8.3.2 Increasing R&D funding for fuel cell development

                              8.3.3 Development of zero energy homes

9. Vendor Landscape                            

               9.1 Overview

                              Exhibit 47: Vendor landscape

                              The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

               9.2 Landscape disruption         

                              Exhibit 48: Landscape disruption

                              Exhibit 49: Industry risks

10. Vendor Analysis               

               10.1 Vendors covered              

                              Exhibit 50: Vendors covered

               10.2 Market positioning of vendors    

                              Exhibit 51: Market positioning of vendors

               10.3 AFC Energy PLC  

                              Exhibit 52:  AFC Energy PLC – Overview

                              Exhibit 53:  AFC Energy PLC – Business segments

                              Exhibit 54:  AFC Energy PLC- Key news

                              Exhibit 55:  AFC Energy PLC – Key offerings

                              Exhibit 56:  AFC Energy PLC – Segment focus

               10.4 Aisin Corp.          

                              Exhibit 57:  Aisin Corp. – Overview

                              Exhibit 58:  Aisin Corp. – Business segments

                              Exhibit 59:  Aisin Corp. – Key offerings

                              Exhibit 60:  Aisin Corp. – Segment focus

               10.5 Altergy Systems 

                              Exhibit 61:  Altergy Systems – Overview

                              Exhibit 62:  Altergy Systems – Product and service

                              Exhibit 63:  Altergy Systems – Key offerings

               10.6 AVL List GmbH   

                              Exhibit 64:  AVL List GmbH – Overview

                              Exhibit 65:  AVL List GmbH – Product and service

                              Exhibit 66:  AVL List GmbH – Key offerings

               10.7 Ballard Power Systems Inc.          

                              Exhibit 67:  Ballard Power Systems Inc. – Overview

                              Exhibit 68:  Ballard Power Systems Inc. – Business segments

                              Exhibit 69:  Ballard Power Systems Inc.-Key news

                              Exhibit 70:  Ballard Power Systems Inc. – Key offerings

                              Exhibit 71:  Ballard Power Systems Inc. – Segment focus

               10.8 Bloom Energy Corp.        

                              Exhibit 72:  Bloom Energy Corp. – Overview

                              Exhibit 73:  Bloom Energy Corp. – Product and service

                              Exhibit 74:  Bloom Energy Corp.- Key news

                              Exhibit 75:  Bloom Energy Corp. – Key offerings

               10.9 Cellkraft AB         

                              Exhibit 76:  Cellkraft AB – Overview

                              Exhibit 77:  Cellkraft AB – Business segments

                              Exhibit 78:  Cellkraft AB – Key offerings

                              Exhibit 79:  Cellkraft AB – Segment focus

               10.10 Ceres Power Holdings plc           

                              Exhibit 80:  Ceres Power Holdings plc – Overview

                              Exhibit 81:  Ceres Power Holdings plc – Business segments

                              Exhibit 82:  Ceres Power Holdings Plc.- Key news

                              Exhibit 83:  Ceres Power Holdings plc – Key offerings

                              Exhibit 84:  Ceres Power Holdings plc – Segment focus

               10.11 Convion Ltd.     

                              Exhibit 85:  Convion Ltd. – Overview

                              Exhibit 86:  Convion Ltd. – Business segments

                              Exhibit 87:  Convion Ltd.- Key news

                              Exhibit 88:  Convion Ltd. – Key offerings

                              Exhibit 89:  Convion Ltd. – Segment focus

               10.12 Doosan Corp.   

                              Exhibit 90:  Doosan Corp. – Overview

                              Exhibit 91:  Doosan Corp. – Business segments

                              Exhibit 92:  Doosan Corp.- Key news

                              Exhibit 93:  Doosan Corp. – Key offerings

                              Exhibit 94:  Doosan Corp. – Segment focus

11. Appendix                           

               11.1 Scope of the report         

                              11.1.1 Market definition

                              11.1.2 Objectives

                              11.1.3 Notes and Caveats

               11.2 Currency conversion rates for US$            

                              Exhibit 95: Currency conversion rates for US$

               11.3 Research Methodology   

                              Exhibit 96: Research Methodology

                              Exhibit 97: Validation techniques employed for market sizing

                              Exhibit 98: Information sources

               11.4 List of abbreviations        

                              Exhibit 99: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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