In order to study the many forthcoming movements and patterns prevailing in the global market, FactMR has included the latest Forecast report on stationary fuel cell systems market to its vast database. The delivered study offers significant figures about the leading regions and applications which are functioning in the stationary fuel cell systems market forthcoming trends by 2027, along with their market production, consumption, revenue, upcoming industry trends and forecasted market share details. Further, the accomplished market research report also anticipates that the concerned market would grow at a constructive CAGR until 2027.
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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.
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.
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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.
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.
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