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Asia Pacific Stationary Fuel Cell Market Trends

Report ID: GMI7301
Published Date: Nov 2024
Report Format: PDF

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Asia Pacific Stationary Fuel Cell Market Trends

Growing concerns over environmental issues and air quality, along with the capability to offer backup power during grid outages and natural disasters, are set to positively shape the industry landscape. Moreover, technological advancements in fuel cells, declining costs, and a rising awareness and acceptance of stationary fuel cells among diverse consumers are poised to influence the market statistics.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The Asia Pacific market for stationary fuel cell was reached USD 1.16 billion in 2024 and is estimated to grow at a CAGR of over 14.8% from 2025 to 2034, driven by advancements towards establishing a hydrogen economy.

The 3 – 10 kW capacity segment is set to exceed USD 500 million by 2034, due to their compatibility with homes, small businesses, and remote areas lacking grid access.

The CHP application segment is anticipated to witness a CAGR of more than 15% up to 2034, led by ongoing R&D activities for new product development.

The South Korea stationary fuel cell market is projected to surpass USD 3.1 billion by 2034, owing to significant investments in developing hydrogen infrastructure and government-led initiatives.

Key players in the market include Ballard Power Systems, Bloom Energy, Cummins, Doosan Fuel Cell, Fuji Electric, FuelCell Energy, Hexis, NUVERA FUEL CELLS, Plug Power, Siemens Energy, SFC Energy, and Sunfire.