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Growth Opportunities in the Global Stationary Fuel Cell Industry
The Need for Decentralized Prime Power Continues to Drive Investment
05-Sep-2024
Global
Market Research
Energy decentralization, supportive regulations and policies, greater focus on sustainability, and the crucial development of a hydrogen economy will drive the stationary fuel cell industry growth during the next decade. The broader market for decentralized energy solutions thrives as residential, commercial, and industrial customers seek greater energy security and cost savings. In terms of fuel cell technology type, solid oxide leads in market volume, significantly ahead of its closest competitor, phosphoric acid. Proton membrane technology lags some way behind, but this chemistry has the potential to work as backup power for renewable energy.
Fuel cell manufacturers continue to prioritize improving their solutions by increasing product lifespan and efficiencies while lowering costs. The commodity and supply chain crunch has eased for the industry, and there will now be a renewed focus on automation and cost reduction.
The growth of the global fuel cell market is inextricably linked to the development of the hydrogen economy. Although natural gas can power fuel cells, it also ties them to fossil fuels. The buildout of low-carbon hydrogen infrastructure will enable fuel cells to decarbonize, making them a more attractive proposition for many stakeholders. This has been challenging in the short term, but the mid-to-long-term potential for hydrogen is much stronger. The United States, South Korea, and Japan are the hottest fuel cell markets, but future growth will likely come from Europe and China.
In this study, Frost & Sullivan includes fuel cells used for large and small stationary prime power applications. Also included are stationary applications that deliver combined heat and power (CHP) to various industrial and commercial customers, including stationary micro-CHP applications. The study period is 2022–2035.
Author: Jonathan Robinson
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Stationary Fuel Cells Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Growth Metrics
Key Findings
Scope of Analysis
Key Competitors
Mainstream Fuel Cell Technologies
Potential Future Technologies
Potential Future Technologies (continued)
Major Trends Shaping the Fuel Cell Market
H2 Infrastructure and Decarbonization Trends
Growth in Hybrid and Microgrid Solutions
Growth in Hybrid and Microgrid Solutions (continued)
Increasing End Customer and Manufacturer Focus on Sustainability
Data Centers Vital to Future Fuel Cell Market Growth
Data Centers Vital to Future Fuel Cell Market Growth (continued)
Data Centers Vital to Future Fuel Cell Market Growth (continued)
Production Automation to Drive Future Efficiency Gains
Growth Drivers
Growth Restraints
Forecast Assumptions
Annual Installations Forecast
Revenue Forecast
Cumulative Installed Base by Region
Cumulative Installed Base by Technology
Annual Installation Forecast by Region
Revenue Forecast by Region
Annual Installation Forecast by Fuel Cell Technology
Revenue Forecast by Fuel Cell Technology
Revenue and Volume Forecast Analysis by Region
Revenue and Volume Forecast Analysis by Fuel Cell Technology
Price Forecast by Fuel Cell Technology
Pricing Analysis
Tier Analysis
Cumulative Fuel Cell Market Share
Cumulative Fuel Cell Market Share: 2019–2023
Market Share Analysis
Market Share Analysis (continued)
Key Business Models
Annual Installation Forecast by Fuel Cell Technology—United States
Revenue Forecast by Fuel Cell Technology—United States
Forecast Analysis—United States
Forecast Analysis—United States (continued)
Annual Installation Forecast by Fuel Cell Technology—South Korea
Revenue Forecast by Fuel Cell Technology—South Korea
Forecast Analysis—South Korea
Forecast Analysis—South Korea (continued)
Annual Installation Forecast by Fuel Cell Technology—Japan
Revenue Forecast by Fuel Cell Technology—Japan
Forecast Analysis—Japan
Forecast Analysis—Japan (continued)
Annual Installation Forecast by Fuel Cell Technology—Europe
Revenue Forecast by Fuel Cell Technology—Europe
Forecast Analysis—Europe
Growth Opportunity 1: Wide-ranging Business Models
Growth Opportunity 1: Wide-ranging Business Models (continued)
Growth Opportunity 2: Diverse Supply Chains and Solutions to Reduce Material Dependency
Growth Opportunity 2: Diverse Supply Chains and Solutions to Reduce Material Dependency (continued)
Growth Opportunity 3: Hybrid Offerings
Growth Opportunity 3: Hybrid Offerings (continued)
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
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| Deliverable Type | Market Research |
|---|---|
| Author | Jonathan Robinson |
| Industries | Energy |
| No Index | No |
| Is Prebook | No |
| Podcast | No |
| Predecessor | MGA7-01-00-00-00 |
| WIP Number | MH82-01-00-00-00 |