The stationary fuel cell systems market will record a hefty 17.9% y-o-y over 2018 to reach over US$ 2,159 million by the end of 2019, reveals a recent market study published by Fact.MR. The study offers a holistic assessment on various market dynamics and macro and micro-economic factors that are influencing adoption of stationary fuel cell systems in various industrial verticals.
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Combined heat and power (CHP) or cogeneration is one of the most common applications of stationary fuel cell systems, which accounted for the largest revenue share of over 45% in 2018, according to the Fact.MR study.
“CHP is one of the most commonly used stationary power generation systems installed to generate electricity as well as heat. In the modern days, fuel cells are widely used in the manufacturing of CHP, which acts of the leading driving force for the growth of the stationary fuel cell systems market,” said a lead analyst at Fact.MR.
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“When stationary fuel cell systems are incorporated in CHP, it offers extraordinary benefits in terms of efficiency, sustainability, reliability, and cost-efficiency. As compared to conventional power generation methods, which commonly involve combustion engines, CHP is considered environment-friendly and highly efficient, which is boosting adoption of stationary fuel cell systems among CHP manufacturers across the world.”
Apart from the efficiency- and sustainability-related benefits of incorporating stationary fuel cell systems in CHP, subsidies and incentives offered by governing bodies in various regions is providing a fillip to the global demand for stationary fuel cell systems in the CHP industrial sector. For example, the U.S. Environmental Protection Agency (EPA) removed policy barriers for CHP projects in the region, and it is establishing partnerships with CHP stakeholders to provide them with necessary resources, tools, and policy information.
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The positive growth environments for CHP applications in various regions is expected to generate most lucrative opportunities for players in the stationary fuel cell systems market. Consumers’ awareness and favorable regularity framework for CHP is expected to make it the most popular application of stationary fuel cell systems in the upcoming years.
The report provides comprehensive information about demand and sales of stationary fuel cell systems based on power range of stationary fuel cell systems, by technology, its applications, and geographical regions.
This segmentation of information about growth of the stationary fuel cell systems market can enable readers to fathom the minute information about market dynamics.
Based on the power range of stationary fuel cell systems, the stationary fuel cell systems market is segmented into 250kW-1mW, 5kW-250kW, less than 1Kw, and more than 1mW.
Based on the technology used to manufacture stationary fuel cell systems, the stationary fuel cell systems market is segmented into Proton Exchange Membrane Fuel Cell (PEMFC), Solid Oxide Fuel Cell (SOFC), Phosphoric Acid Fuel Cell (PAFC), and Molten Carbonate Fuel Cell (MCFC).
Depending on the applications of stationary fuel cell systems, the stationary fuel cell systems market is segmented into Combined Heat and Power (CHP), Prime Power, and Uninterrupted Power Supply (UPS).
Based on the geographical regions, the stationary fuel cell systems market is segmented into North America, Latin America, Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East & Africa (MEA).
Report Benefits & Key Questions Answered
- Stationary Fuel Cell Systems Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Stationary Fuel Cell Systems Market Historical volume analysis: The report provides a comparison of Stationary Fuel Cell Systems Market historical sales and projected sales performance for 2021-2031.
- Stationary Fuel Cell Systems Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Stationary Fuel Cell Systems Market It carefully gauges the impact of changing healthcare needs of key demographics globally
- Stationary Fuel Cell Systems Market Consumption by demographics: The report investigates consumer behavior affecting Stationary Fuel Cell Systems Market demand outlook for the assessment period. Effect of their keenness for digital trends on Stationary Fuel Cell Systems Market is carefully analyzed
- Post COVID consumer spending on Stationary Fuel Cell Systems Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Stationary Fuel Cell Systems Market growth.
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