The Stationary Fuel Cell Systems Market research report aims to provide an unbiased and a comprehensive outlook of the global market to the readers. Analysts have studied the key trends defining the trajectory of the market. The research report also includes an assessment of the achievements made by the players in the Stationary Fuel Cell Systems Market so far. It also notes the key trends in the market that are likely to be lucrative.
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Stationary Fuel Cell Systems Market: Segmentation
For clearer understanding of the Stationary Fuel Cell Systems Market, analysts have segmented the market. The segmentation has been done on the basis of application, technology, and users. Each segment has been further explained with the help of graphs figures. This breakdown of the market gives the readers an objective view of the Stationary Fuel Cell Systems Market, which is essential to make sound investments.
A market research study is incomplete without regional analysis, and we are well aware of it. That is why, the report includes a comprehensive and all-inclusive study that solely concentrates on the geographical growth of the Stationary Fuel Cell Systems Market. The study also includes accurate estimations about market growth at the global, regional, and country levels. It empowers you to understand why some regional markets are flourishing while others are seeing a decline in growth. It also allows you to focus on geographies that hold the potential to create lucrative prospects in the near future.
Using the competitive analysis offered in the report, players can gain sound understanding of certain behaviors of other market participants. This equips them to make the required changes in their marketing strategies and improve their business tactics to strongly position themselves in the Stationary Fuel Cell Systems Market. With detailed mapping of the vendor landscape, the report highlights highly competitive areas of the Stationary Fuel Cell Systems Market. The report also talks about the nature of the vendor landscape and reasons supporting it. It profiles some of the prominent names in the Stationary Fuel Cell Systems industry.
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Growing Needs for Environment-friendly Alternatives to Combustion Engines Drive Market Growth
Increasing concerns about negative impacts of conventional power generation methods on the environment have triggered the use of sustainable power generation equipment such as fuel cells. Conventional power generation units involve combustion of fuel, which ultimately leads to the emission of harmful gases into the environment. This is triggering needs for finding an eco-friendly substitute to tradition electricity generation methods.
In order to cater to the growing needs for more environment-friendly ways to generate electricity, players in the stationary fuel cell systems are promoting the benefits of hydrogen fuel cells as an alternative to traditional power generation. Furthermore, end-users’ awareness about the environmental benefits of using fuel cells in stationary applications, as they mitigate the dependence on oil and harmful emissions, is boosting adoption of stationary fuel cell systems.
Higher Efficiency and Low Maintenance Multiply Adoption of Stationary Fuel Cell Systems
Apart from its environmental benefits, stationary fuel cell systems offer more versatile advantages over conventional, combustion-based power generation systems. Stationary fuel cell systems are compact and create less noise, which are among the most important factors to trigger end-users to replace conventional electricity generation systems with stationary fuel cell systems.
However, fuel cells are 60% more efficient that other combustion-based engines at generating electricity, which persists to be the leading factors to boost adoption of stationary fuel cell systems across various end-users. Furthermore, stationary fuel cell systems are also preferred over tradition power generation methods for generating heat, as fuel cells are 90% more efficient at generating heat.
In addition, as there are a small number of moving parts in stationary fuel cell systems, they require less maintenance than traditional combustion engines. Thereby, a majority of end-users are shifting away from conventional combustion-based engines to stationary fuel cell systems for highly efficient power generation.
Automotive Industry to Generate Lucrative Opportunities for Stationary Fuel Cell Systems Market Players
As automobiles are becoming high-tech, leading players in the automotive industry are adopting advanced fuel cell technologies to develop next-generation stationary fuel cell systems for modern electric vehicles. Growing needs for reducing emissions and improving energy efficiency of automobiles, the adoption of fuel cells has increased in the automotive industry, creating profitable sales opportunities for manufacturers in the stationary fuel cell systems market.
Most automakers across the world are adopting proton exchange membrane fuel-cell (PEMFC) systems to develop stationary fuel cell systems to provide heat as well as electricity. A majority of leading manufacturers in the stationary fuel cell systems market are developing the proton exchange membrane fuel-cell (PEMFC) technology for small or mid-sized stationary power generation for passenger cars. The burgeoning trend of rising sales of electric vehicles and needs for controlling automotive emissions is expected to generate new avenues of growth for players in the stationary fuel cell systems market.
High Cost of Fuel Cells Limit Applications and Adoption of Stationary Fuel Cell Systems
Despite the fact that fuel cells are environment-friendly and more efficient other combustion-based engines, their high cost continues to be a critical restraint for the growth of the stationary fuel cell systems. Though the proton exchange membrane fuel cell (PEMFC) technology shows promising growth of the stationary fuel cell systems in the automotive industry, the precious and expensive metal catalysts used to build PEMFC-based stationary fuel cell systems account for over three fourth of the total cost.
Due to the use of expensive metal catalysts, manufacturers in the stationary fuel cell systems fail to introduce competitive prices of stationary fuel cell systems as compared to its alternatives. Leading manufacturers in the stationary fuel cell systems market are investing heavily in research & development to discover ways to reduce cost of stationary fuel cell systems, by replacing precious metal catalysts with less expensive metals. Furthermore, growing investments in developing hydrogen infrastructure are likely to help market players to mitigate other production and installment costs of stationary fuel cell systems.
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A stationary fuel cell system is a stationary or non-mobile power system, in which a fuel cell or multiple fuel cells are used to generate electricity through an electrochemical reaction. Stationary fuel cell systems are commonly used as a backup power source, primary power source, or combined heat and power (CHP) source in multiple applications, especially in critical areas.
About the Report
The Fact.MR report is a detailed forecast on the stationary fuel cell systems market for the period 2018-2027. It provides in-depth information about the development of the stationary fuel cell systems market during the period 2013-2017, which helps readers to understand the historical growth parameters of the market. The report offers a detailed intelligence on macro and microeconomic factors that are influencing sales, demand for stationary fuel cell systems, and revenue generation in the market during the forecast period.
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).
Additional Questions Answered
The information about development of the stationary fuel cell systems market during the period 2018-2027, featured in the Fact.MR report, can help readers to understand the most critical factors to influence demand and sales of stationary fuel cell systems across the world.
The report can help new entrants in the stationary fuel cell systems market to keep track of the recent changes in winning strategies of leading manufacturers and other stakeholders in the stationary fuel cell systems market. This can also aid them in planning appropriate business strategies in order to establish a stronger foothold in the stationary fuel cell systems market in the upcoming years.
In addition, the report also answers important questions associated with the development of the stationary fuel cell systems market for readers. Some of these questions answered in the report are
- Which technology is used most commonly by market players in manufacturing stationary fuel cell systems?
- What are the big challenges faced by manufacturers in the stationary fuel cell systems market?
- Why are most stationary fuel cell systems market players investing in the North American region?
- What are the various stages in the value chain of the stationary fuel cell systems market?
- What are the important trends and opportunities contributing to growth of the stationary fuel cell systems market during the assessment period?
A constructive research methodology is followed to obtain unique insights and information on growth of the stationary fuel cell systems market for the period 2018-2027. The growth prospects and market dynamics featured in the report are derived from primary and secondary research methods. The actionable insights on the stationary fuel cell systems market have been obtained by conducting interviews with the market leaders, investors, researchers, as well as fuel cell industry experts.
The information on the stationary fuel cell systems market obtained through secondary research were verified with industry-validated data sources and confirmed by the stationary fuel cell systems market experts. Important information and quantitative estimates reached during the research phase have been closely analyzed to inform stationary fuel cell systems market players about the opportunities in various regional markets for stationary fuel cell systems. This methodology ensures the accuracy and reliability of the information on growth prospects of the stationary fuel cell systems market during the period 2018-2027.
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