Stationary Fuel Cell Systems Market to Witness Widespread Expansion During 2018 to 2027

Posted on 2019-04-30 by Mark Hub in Industrial // 0 Comments

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In order to dissert the market scenario prevailing across the stationary fuel cell systems market sector, FactMR has evenly presented a new examination titled “Stationary Fuel Cell Systems Market to Witness Widespread Expansion During 2018 to 2027 | Key Players are Fuelcell Energy Inc., Doosan Fuel Cell America, Ballard Power Systems, etc.”, to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the stationary fuel cell systems market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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Bloom Energy Corporation, a California-based manufacturer in the stationary fuel cell systems market, recently announced that it will receive a project funding of over US$ 100 million from Key Equipment Finance, a bank-held equipment finance company in the U.S., to deploy industrial and commercial fuel cells across the country. Bloom Energy Corporation also announced a strategic partnership with SK Engineering and Construction (SK E&C) to expand the distribution channels for its solid oxide fuel cell systems in South Korea.

PowerCell Sweden AB (publ), a Swedish manufacturer in the stationary fuel cell systems market, recently entered a partnership with a German industrial group Siemens AG to develop power generating systems, including stationary fuel cell systems for marine applications. Another leading player in the stationary fuel cell systems market – Doosan Corporation is aiming to expand its business in the North American stationary fuel cell systems market through its subsidiary – Doosan Fuel Cell America Inc. – by establishing a strategic partnership with Wells Fargo Vendor Financial Services, a leading finance company in the North American region. Plug Power Inc., an American manufacturer of hydrogen fuel cells, recently acquired American Fuel Cell, a leading supplier of Membrane Electrode Assemblies (MEA). As the MEA technology is one of the most important catalysts for fuel cells in vehicles to generate electricity, this acquisition is expected to aid Plug Power Inc. to improve adoption of its electric powertrains or stationary fuel cell systems in the on-road industry.

FuelCell Energy Inc., another U.S.-based company in the stationary fuel cell systems market, recently declared that it has entered a strategic agreement to acquire a 14.9 megawatt fuel cell park from Dominion Energy, an American power company, for over US$ 36.6 million. The company is aiming to add over US$ 15 million to its annual revenue with this acquisition, and ultimately establish a stronger position in the stationary fuel cell systems market in the upcoming years.

FactMR report provides comprehensive information about recent developments in the stationary fuel cell systems market. The report conducts a thorough research on the recent activities of several stationary fuel cell systems market players including Plug Power Inc., Fuelcell Energy Inc., Doosan Fuel Cell America, Ballard Power Systems, POSCO ENERGY, SOLIDpower Group, Bloom Energy Corporation, PowerCell, AFC Energy Plc., and Fuji Electric Co., Ltd.

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According to the FactMR report, Bloom Energy Corporation, POSCO ENERGY, and Doosan Fuel Cell America are among the Tier I stakeholders, and Plug Power, Fuelcell Energy, Ballard Power Systems, and Fuji Electric Co., Ltd. are among the Tier II stakeholders in the stationary fuel cell systems market. Leading players in the stationary fuel cell systems are expected to account for 70-75% share in the growth of the stationary fuel cell systems market in the upcoming years.

A majority of top tiered companies have received huge funds from banks or finance companies, which is enabling them to meet their sustainability goals and financial needs. In addition, with the help of these funds and investments, stationary fuel cell systems market leaders are introducing cleaner, resilient, and more innovative power solutions. Whereas, needs for high initial investments pose financial barriers to entry for new players in the stationary fuel cell systems market, which in turn aids the dominance of top tiered companies in the stationary fuel cell systems market. 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.

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