The Stationary Fuel Cell Market faces demanding situations that necessitate strategic answers for sustained growth. One key mission lies inside the cost of gasoline cell technology, which, despite the fact that reducing, requires in addition innovation and economies of scale to compete with conventional strength assets. Additionally, infrastructure for hydrogen production and distribution poses logistical hurdles that need to be addressed for great adoption.
GLOBAL STATIONARY FUEL CELL: REGIONS
Global Stationary Fuel Cell market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. By 2030, Asia Pacific is predicted to be the largest market, with a high need for developments in fuel cell technology due to the region's expanding use of fuel cell-powered automobiles. Furthermore, the region's fuel cell technology industry is likely to benefit from increased power generation from cleaner energy sources.
IMPACT OF COVID-19 ON STATIONARY FUEL CELL MARKET
The COVID-19 situation has hampered the expansion of renewable energy capacity. According to IEA forecasts, due to the unprecedented COVID-19 global crisis, the number of new renewable power projects is expected to decline in 2020. Since 2000, yearly renewable energy capacity expansion has been on the decline for the first time in 20 years. In 2020, the net increase of renewable power capacity is expected to fall by 13% compared to 2019.
KeyPlayers:
- Cummins (US)
- SFC Energy (Germany)
- Bloom Energy (US)
- Plug Power (US)
- Fuel Cell Energy (US)
- Horizon Fuel Cells
- Mitsubishi Hitachi Power Systems
- Intelligent Energy
- Fuel Cell Energy
The Stationary Fuel Cell Market is experiencing a transformative surge, positioning itself as a pivotal player in the global electricity panorama. As the world shifts towards sustainable strength solutions, desk bound gas cells have emerged as green and eco-friendly power turbines.
