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North America Prime Power Stationary Fuel Cell Market Size

Report ID: GMI7322
Published Date: Nov 2023
Report Format: PDF

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North America Prime Power Stationary Fuel Cell Market Size

North America Prime Power Stationary Fuel Cell Market was valued at more than USD 87 million in 2022 and is poised to witness over 7.4% from 2023 to 2032. Growing demand for small and large capacity fuel cell systems in line with surging investments from the private & public sectors focusing on developing the hydrogen infrastructure will favor the business outlook.

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Rising investments in building the hydrogen infrastructure along with ongoing efforts by governments to reduce carbon emissions will drive the market growth. For instance, in August 2022, Inflation Reduction Act (IRA) 2022, passed & signed into law by the U.S. government, is likely a momentous acceleration of hydrogen & fuel cell adoption.

North America Prime Power Stationary Fuel Cell Market Report Attributes
Report Attribute	Details
Base Year:	2022
North America Prime Power Stationary Fuel Cell Market Size in 2022:	USD 87.2 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7.4%
2032 Value Projection:	USD 174.6 Million
Historical Data for:	2019 to 2021
No. of Pages:	150
Tables, Charts & Figures:	114
Segments covered:	Application
Growth Drivers:	Efforts to foster the growth of a sustainable hydrogen-based economy Reliable solutions suitable for power applications Rising requirement for continuous power in both permanent and off-grid settings
Pitfalls & Challenges:	Lack of infrastructure

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of North America prime power stationary fuel cell was exceeded USD 87 million in 2022 and will reach more than USD 174 million by 2032, due to higher adoption of continuous and uninterrupted power generation in various applications.

North America prime power stationary fuel cell market from the< 10 kW capacity segment may cross USD 79 million by 2032, on account of various benefits, such as compact design, high resilience as well as less fuel consumption.

U.S. market for prime power stationary fuel cell was worth USD 380 million in 2022 owing to the ongoing decentralized energy generation for offering solution for on-site power production in the country.

Cummins Inc., Ballard Power Systems, PLUG POWER INC., Bloom Energy, SFC Energy AG, Aris Renewable Energy, GenCell Ltd., and Fuel Cell Energy, Inc. are some of the major prime power stationary fuel cell firms in North America.