The stationary fuel cell market is speculated to grow considerably by 2030 on account of ongoing initiatives towards developing a hydrogen economy across key regions. In addition, surging demand for small and large capacity systems is likely to propel industry uptake over the forecast period.

Fuel cells use a technique that does not require combustion to generate power. As a result, they emit fewer pollutants than traditional combustion-based power generation methods. Fuel cells are also extremely efficient since they generate more electricity per unit of fuel consumed. As a result, fuel cells provide an environmentally friendly, healthy, and reliable alternative to traditional power generation. Stringent government regulations to reduce carbon emissions have augmented market adoption in recent years.

Furthermore, industry players have been implementing strategic initiatives to strengthen their foothold in the evolving marketplaces, which has favorably impacted the overall business outlook. For instance, in November 2021, Ballard Power Systems Inc., a global clean energy fuel cell solutions provider, announced the acquisition of Arcola Energy, a leading energy company specializing in hydrogen and fuel cell technologies for heavy-duty vehicles. The deal enabled Ballard to decarbonize mobility by leveraging Arcola's fuel cell powertrain integration.

The stationary fuel cell market has been segmented on the basis of application, capacity, end-use, and region. In terms of capacity, the market has further been divided into < 3 kW, 3 kW - 10 kW, 10 kW - 50 kW, and > 50 kW. The 10 kW - 50 kW sub-segment is expected to progress at a CAGR of more than 12% over the assessment timeline to reach a significant valuation by the end of 2030.

From the end-use point of view, the stationary fuel cell market has been segregated into industry/utility, residential, and commercial. The residential sub-segment is projected to record a substantial valuation of over USD 1 billion by the end of 2030.

With respect to application, the stationary fuel cell market has been bifurcated into CHP, prime power, and others. The prime power sub-segment is slated to amass sizable gains by 2030, growing at a CAGR of approximately 13.0% through the study period.

From the regional perspective, the North America stationary fuel cell industry is poised to gain a solid growth momentum over the forecast timeline. Increasing adoption of large-scale CHP systems would boost the demand for sustainable systems in the region, which is likely to bolster market development over the forthcoming years. Meanwhile, the Latin America stationary fuel cell market is anticipated to witness sturdy expansion over 2022-2030 due to rising awareness among consumers regarding the development of a hydrogen economy.