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Large Capacity Stationary Fuel Cell Market Trends

Report ID: GMI9394
Published Date: May 2024
Report Format: PDF

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Large Capacity Stationary Fuel Cell Market Trends

Continuous introduction of government mandates and enhanced funding towards technology development combined with surge in adoption across the CHP sector owing to their ability to provide clean, efficient, and reliable power generation will boost the product demand. For instance, in 2021, the government announced its first ever plan to build its world leading hydrogen economy which included funding of USD 1.13 billion to accelerate the commercialization of low-carbon technologies and systems for net zero. Rising concern for climate change and environmental sustainability will further sway the market trends.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of large capacity stationary fuel cell was USD 1.4 billion in 2023 and will grow at 12% CAGR during 2024- to 2032, driven by ongoing development of hydrogen roadmaps, laws, and mandates.

Large capacity stationary fuel cell industry from the industrial application segment will grow at over 12% CAGR up to 2032, led by the growing need for energy security and reduced carbon emissions.

North America large capacity stationary fuel cell market is forecasted to exceed USD 500 million by 2032 owing to companies and organizations prioritizing energy efficiency and sustainability in their operations.

Bloom Energy, Doosan Fuel Cell America, E.ON, FuelCell Energy, Inc., Hanwa Energy, Honda, HyAxiom, Inc., Intelligent Energy, and Nedstack Fuel Cell Technology BV among others.