# Stationary Fuel Cell Market Pegged for Robust Expansion During 2019-2027
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-11-26
Category: Research Reports
Category URL: https://financedigest.com/category/research-reports
Meta Title: Global Stationary Fuel Cell Market: Key Highlights
Meta Description: Discover the latest trends and growth opportunities in the global stationary fuel cell market, with Asia Pacific leading the way. Find out how solid oxide fuel
URL: https://financedigest.com/stationary-fuel-cell-market-pegged-for-robust-expansion-during-2019-2027html

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**Global Stationary Fuel Cell Market: Key Highlights**

- The global stationary fuel cell market was valued at ~ **US$ 3 Bn** in 2018, and is anticipated to expand at a CAGR of ~ **12%** during the forecast period.
- [Rise in the need for eco-friendly alternatives](https://www.financedigest.com/the-rise-of-cardboard-packaging-alternatives.html "The Rise of Cardboard Packaging Alternatives") for combustion engines is expected to drive the stationary fuel cell market.
- Asia Pacific accounts for a major share of the global [stationary fuel cell market](https://www.transparencymarketresearch.com/stationary-fuel-cell-system-market.html), owing to increase in the demand for stationary fuel cells as substitutes for conventional sources of energy such as lithium-ion batteries in various commercial and industrial applications in the region.

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**Key Drivers of Global Stationary** [Fuel Cell Market](https://www.financedigest.com/fuel-markets-to-stay-tight-till-mid-2020s-as-refining-shrinks.html "Fuel markets to stay tight till mid-2020s as refining shrinks")

Stationary fuel cells can reduce fuel consumption by at least **50%** as compared to other conventional backup sources with internal combustion engines. This is expected to boost the demand for stationary [fuel cells in various sectors](https://www.financedigest.com/big-ecb-hike-adds-fuel-to-the-banking-sector-fire.html "Big ECB hike adds fuel to the banking sector fire") to replace conventional energy generation products.- Apart from environmental benefits, stationary [fuel cell systems offer many advantages over conventional combustion-based power](https://www.financedigest.com/growth-in-the-power-generation-and-transmission-sector-is-likely-to-fuel-the-demand-for-special-tool-wire-cutters-2021-2031.html "Growth In The Power Generation And Transmission Sector Is Likely To Fuel The Demand For Special Tool Wire Cutters 2021-2031") generation systems. Stationary fuel cell systems are compact and create less noise. This is encouraging end users to replace conventional electricity generation systems with stationary fuel cell systems.
- Stationary fuel [cells are increasingly being used as key substitutes for lithium-ion batteries](https://www.financedigest.com/bmw-to-make-solid-powers-battery-cells-under-expanded-agreement.html "BMW to make Solid Power’s battery cells under expanded agreement") and other back-up power systems in large industrial applications. This is anticipated to drive the growth of the stationary fuel [cell market](https://www.financedigest.com/zinc-chloride-market-to-grow-at-4-8-cagr-steered-by-surging-demand-for-dry-cell-batteries-fmi.html "Zinc Chloride Market to Grow at 4.8% CAGR Steered by Surging Demand for Dry Cell Batteries: FMI ").

**Solid Oxide Fuel Cells (SOFC) to Offer Lucrative Opportunities**

- Solid oxide fuel cells (SOFCs) is likely to be a rapidly [expanding segment of the global stationary fuel cell market](https://www.financedigest.com/beverage-packaging-market-estimated-to-expand-at-a-robust-4-1%cagr-by-2027.html "Beverage Packaging Market Estimated to Expand at a Robust 4.1%CAGR By 2027") during the forecast period, as these cells offer clean, low-pollution technology to generate electricity electrochemically at high efficiencies. These [fuel cells provide several advantages over traditional energy](https://www.financedigest.com/bank-finance-for-cleaner-energy-grows-but-still-lags-fossil-fuels-report.html "Bank finance for cleaner energy grows, but still lags fossil fuels – report") conversion systems, such as high efficiency, reliability, modularity, fuel adaptability, and low level of emissions.
- Solid oxide fuel cells are electrochemical conversion devices that produce electricity through the oxidization of fuel. These fuel cells consist of solid oxides or ceramic electrolytes. Solid oxide fuel cells are used in large stationary [power plants](https://www.financedigest.com/edpr-brings-iberias-first-wind-solar-power-plant-on-stream.html "EDPR brings Iberia’s first wind-solar power plant on-stream") due to their ability to function at high operating temperatures.

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**High Cost of** [Production to Hamper Market](https://www.financedigest.com/welding-products-market-to-witness-an-outstanding-growth-by-2019-2027.html "Welding Products Market to Witness an Outstanding Growth by 2019-2027 ")

- The cost of metal catalysts used in stationary fuel cell systems is high. Manufacturers find it difficult to [offer competitive prices](https://www.financedigest.com/twitter-shares-cruise-towards-musks-offer-price-as-deal-deadline-looms.html "Twitter shares cruise towards Musk’s offer price as deal deadline looms") of stationary fuel cell systems as compared to their alternatives. This is [estimated to hamper the demand](https://www.financedigest.com/ibm-beats-first-quarter-profit-estimates-signals-demand-holding-up.html "IBM beats first-quarter profit estimates, signals demand holding up") for stationary fuel cells.

**Asia Pacific Dominates Global Stationary Fuel** [Cell Market](https://www.financedigest.com/the-3d-cell-cultures-market-to-take-a-technologically-advanced-somersault.html "The 3D Cell Cultures Market To Take A Technologically Advanced Somersault")

- In [terms of value](https://www.financedigest.com/kneeboard-market-is-pegged-to-witness-sound-growth-in-terms-of-value-over-forecast-2028.html "Kneeboard Market Is Pegged To Witness Sound Growth In Terms Of Value Over Forecast 2028"), Asia Pacific dominated the global stationary fuel cell market with ~ **56%** share in 2018. The region is expected to remain highly lucrative during the forecast period, led by rapid [industrialization and rise in the demand](https://www.financedigest.com/paints-and-adhesives-industry-are-creating-demand-for-methyl-silicone-resins-market.html "Paints And Adhesives Industry Are Creating Demand For Methyl Silicone Resins Market") for electricity.
- Japan and [South Korea](https://www.financedigest.com/ukraine-asks-for-south-korea-cybersecurity-aid-amid-russia-invasion.html "Ukraine asks for South Korea cybersecurity aid amid Russia invasion") are key countries of the stationary fuel cell market in Asia Pacific. A large number of stationary fuel cell manufacturers, such as Doosan Corporation, Toshiba Corporation, Mitsubishi Hitachi Power Systems, Ltd, and Panasonic Corporation, are located in these countries.

**Few [Top Players Accounted for ~55% Market Share](https://www.financedigest.com/young-leaders-forum-niamh-corbett-shares-her-top-5-tips.html "Young Leaders Forum: Niamh Corbett shares her top 5 tips") in 2018**

- The global stationary fuel cell market is consolidated, driven by a few major players. Currently, the [market is expanding at a rapid](https://www.financedigest.com/rapid-expansion-projected-for-ghs-labels-market-during-2022-2030-at-a-cagr-of-4-8.html "Rapid Expansion Projected for GHS Labels Market during (2022- 2030) at a CAGR of 4.8%") pace, and key market players are largely focusing on research & development activities. The top six players – Bloom Energy, FuelCell Energy, Inc., Plug Power, Inc., Ballard Power Systems Inc., Ceres Power Holdings plc, and Hydrogenics Corporation – cumulatively accounted for ~ **55%** share of the global market in 2018.
- Companies operating in the global stationary fuel cell market are investing significantly to expand their product [portfolios and improve](https://www.financedigest.com/how-to-use-momentum-analytics-software-to-improve-portfolio-performance.html "How to use momentum analytics software to improve portfolio performance") their distribution networks. They have adopted strategies such as mergers and acquisitions, new product development, joint ventures, and expansion, to cater to the increasing [demand for stationary fuel](https://www.financedigest.com/oil-falls-on-concerns-economic-slowdown-may-dent-fuel-demand.html "Oil falls on concerns economic slowdown may dent fuel demand") cells in different regions. For instance, on April 10, 2019, Plug Power Inc. partnered with Lipari Foods for the Gendrive hydrogen fuel cell-powered fleet.

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