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Europe Prime Power Stationary Fuel Cell Market Trends

Report ID: GMI9402
Published Date: May 2024
Report Format: PDF

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Europe Prime Power Stationary Fuel Cell Market Trends

Deployment of numerous commercial and demonstration projects of stationary fuel cell systems across various applications, including residential, commercial, industrial, and municipal sectors will enhance the business potential. For instance, in October 2021, Ballard Power Systems, in partnership with HDF Energy, commenced the construction of the CEOG Renewstable power plant in France. This multi-megawatt plant, integrated with fuel cell systems, was dedicated to providing power for stationary applications. Moreover, paradigm shift towards low carbon and renewable energy sources to meet their energy needs while mitigating climate change will complement the industry outlook.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size for prime power stationary fuel cell in Europe reached USD 81.1 million in 2023 and is set to grow at 5.3% CAGR between 2024- 2032, owing to energy transition and decarbonization.

Europe residential prime power stationary fuel cell industry is set to grow at over 4.5% CAGR during 2024-2032, driven by the integration into microgrids alongside renewable energy sources.

Germany market is forecasted to exceed USD 116.5 million by 2032, owing to their ability to support critical infrastructure, industrial facilities, and large commercial buildings.

AFC Energy, Bloom Energy, Ballard Power Systems, Cummins Inc., Fuel Cell Energy, Inc., Fuji Electric Co., Ltd., Nedstack Fuel Cell Technology BV, NUVERA FUEL CELLS, LLC., PLUG POWER INC. and SFC Energy AG.