Stationary Fuel Cell Market Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031

Stationary Fuel Cell Market Outlook 2031
• The global stationary fuel cell market was valued at US$ 4.33 Bn in 2021
• It is estimated to grow at a CAGR of 12.07% from 2022 to 2031
• The global stationary fuel cell market is expected to reach US$ 13.41 Bn by the end of 2031

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Global Stationary Fuel Cell Market Introduction

Fuel cells are electrochemical devices that transform chemical energy into heat and electricity through the oxidation of fuel (hydrogen, natural gas, or methanol). R&D in fuel cell technologies has led to a decrease in carbon emissions worldwide. Increase in population has resulted in high energy consumption, thus putting pressure on fossil fuel resources. On the other hand, governments of countries across the globe are focused on mitigating the impact of carbon emissions through the adoption of clean energy. This is expected to boost stationary fuel cell applications in the near future.

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Increase in Demand for Low-noise Alternatives to Combustion Engines Propelling Market

Stationary fuel cells use hydrogen as feedstock to generate energy, releasing nitrogen oxide as a byproduct. Stationary hydrogen fuel cells generate power without using any moving parts (e.g. piston used in generators), thereby generating lesser noise compared to incumbent technologies. Stationary fuel cell, on an average, produces 60dB sound on operation, which is quite low compared to conventional energy sources. Furthermore, fuel cells are compact and can reduce fuel consumption by at least 50% compared to other conventional backups with an internal combustion engine. These cells also produce lesser pollution vis-à-vis conventional power-generating sources. Stationary fuel cell power plant produces less than one ounce of pollution per 1,000 kilowatt-hours of electricity.

However, conventional power-generating sources produce up to 25 pounds of pollutants on consumption of the same amount of electricity. These vital characteristics of fuel cells act as one of the major driving factors of the market. Fuel cells also offer higher energy efficiency compared to other power-generating sources. According to a team of researchers at the Palo Alto Research Center (PARC), usage of reformed hydrogen fuel is responsible for the delivery of high-energy density fuel cells. The energy density of hydrogen fuel cells is approximately 400 watt-hours compared to lithium-ion batteries with energy density of 150 Wh/l. This crucial high energy efficiency characteristic of fuel cells is another factor augmenting the market.

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Rise in Preference for Fuel Cells Over Conventional Batteries

Lithium-ion batteries were better alternatives to lead batteries in the 1970s. However, over time, these batteries have lost their market share due to advancements in fuel cells. Lithium-ion batteries store electricity and dispense it whenever required. However, with aging, their charging capacity diminishes, resulting in the deterioration of the battery life. Overheating is another major drawback of conventional batteries.
Fuel cells can provide backup ranging from a short-term period to a long-term period of eight hours to three days. These cells are compact and can be integrated into various devices and appliances. Fuel cells are also known to operate at a temperature lower than conventional batteries. They deliver continuous power with less than a minute of maintenance in six years. These features make fuel cells reliable energy sources for backup power systems over conventional batteries.

High Efficiency, Stability, and Lower Cost Driving Adoption of Solid Oxide Fuel Cells

In terms of type, the global stationary fuel cell market has been segregated into Proton Exchange Membrane Fuel (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Molten Carbonate Fuel Cell (MCFC), Solid Oxide Fuel Cell (SOFC), Direct Methanol Fuel Cell (DMFC), and others (including alkaline fuel cell). The solid oxide fuel cell segment held major share of 57.68% of the global market in 2021. The segment is estimated to dominate the market during the forecast period. SOFCs are electrochemical conversion devices that produce electricity through the oxidization of fuel. These fuel cells consist of solid oxides or ceramic electrolytes. They are used in large stationary fuel cell power plants due to their ability to function at high operating temperatures. The SOFC segment is expected to grow significantly in the next few years, owing to the high efficiency and stability and relatively low costs of SOFCs.

Decrease in Cell Resistance and Simple Design Augmenting Planar Bipolar Stacking Segment

Based on stacking, the global stationary fuel cell market has been classified into planar bipolar stacking and stacks with tubular cells. The planar bipolar stacking segment dominated the global stationary fuel cell market with 64.3% share in 2021. Planar bipolar stacking is the most common fuel cell stack design. In this stacking, individual unit cells are electrically connected with interconnects. Planar bipolar stacking provides an electrical series connection between adjacent cells, specifically for flat plate cells. It also provides a gas barrier that separates fuel and the oxidant of adjacent cells. The planar-bipolar stacking design is electrically simple and creates short electronic current paths, which help minimize cell resistance.

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Analysis of Key Players in Global Stationary Fuel Cell Market

The global stationary fuel cell market comprises several small and large-scale service providers that control majority of the share. Most firms are adopting new technologies and strategies with comprehensive R&D in sustainable energy. Expansion of product portfolios and mergers and acquisitions are prominent strategies adopted by stationary fuel cell manufacturers.
Bloom Energy, Ballard Power Systems Inc., FuellCell Energy, Inc., Plug Power Inc., Hydrogenics Corporation, Ceres Power Holdings plc., Doosan Corporation, Intelligent Energy Limited, Toshiba Corporation, Panasonic Corporation, Mitsubishi Hitachi Power Systems, Ltd., SerEnergy A/S, Sainergy Tech, Inc., FC TecNrgy Pvt Ltd, K-Pas Instronic Engineers India Private Limited, and Power & Energy, Inc. are prominent entities operating in the market.

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