Market Forecast By Technologies (MCFC, PAFC, PEMFC and SOFC), By Power Ranges (Less Than 5kW, 5kW - 250kW, 250kW - 1MW and More Than 1MW, By Verticals (Residential, Commercial and Industrial), By Countries (India, China, Japan, Australia, Malaysia, Thailand, Indonesia and Rest of APAC) and Competitive Landscape
Product Code: ETC000692 | Publication Date: Jul 2024 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Asia Pacific (APAC)Stationary Fuel Cell Market report thoroughly covers the market By Technologies, By Power Ranges, By Verticals and By Countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Asia Pacific (APAC) stationary fuel cell market is expected to witness significant growth in the coming years, driven by increasing demand for reliable and clean energy sources. The region has been facing a growing need for sustainable solutions to meet its ever-increasing energy demands. The APAC countries have committed to reducing their carbon footprint through various initiatives and policies, which has further fueled the demand for clean energy sources like stationary fuel cells.
According to 6Wresearch, Asia Pacific (APAC) Stationary Fuel Cell Market size is expected to grow at a significant CAGR of 8.1% during 2025-2031. This growth is driven by various factors, including government initiatives and policies promoting the use of clean energy sources, increasing investments in research and development activities, and growing demand for reliable backup power solutions in remote areas with limited access to traditional grid infrastructure. Another key driver for the market is the rising focus on reducing carbon emissions and achieving sustainable development goals in countries like China, Japan, South Korea, and India.
Despite the positive trends, several challenges need to be addressed for the APAC stationary fuel cell market to reach its full potential. Such as high initial costs, lack of infrastructure, and supportive policies in certain countries which play a significant role in accelerating or hindering the adoption of fuel cell technology.
There are several key players in the Asia Pacific (APAC) stationary fuel cell market who are leading the way in advancing this technology. One of the major players is Panasonic Corporation, a Japanese multinational electronics company. Another prominent player is Ballard Power Systems Inc., a Canadian company. They have a strong presence in the APAC market and have partnered with companies such as Toyota, Tata Motors, and Weichai Power to develop fuel cell electric vehicles.
The Asia Pacific (APAC) region has seen significant growth in the stationary fuel cell market due to various government regulations and initiatives. These regulations have played a crucial role in promoting clean energy solutions, including stationary fuel cells, to reduce carbon emissions and combat climate change. One of the major drivers for the growth of the APAC stationary fuel cell market has been government incentives and subsidies. Countries like Japan and South Korea have implemented generous feed-in tariffs and tax credits for companies that invest in renewable energy sources, including fuel cells. This has encouraged many companies to adopt stationary fuel cells as a reliable source of power generation.
With continuous advancements in tire technology and increasing investments by key players, the outlook of the Asia Pacific (APAC) Stationary Fuel Cell Market looks promising and full of potential. The introduction of 5G connectivity is expected to further boost the demand for smart tires, as it will enable real-time communication between vehicles and their surroundings. Moreover, the growing trend of electric vehicles in this region is also likely to create new opportunities for the market.
According to Dhaval, Research Manager, 6Wresearch, PEMFC (Proton Exchange Membrane Fuel Cell) is expected to attain the highest market growth in Asia Pacific (APAC). Due to several factors such as increasing demand for clean energy sources, government initiatives and investments towards promoting green energy solutions, and advancements in technology.
Among all categories, less than 5kW category has been observed to acquire the highest market growth. This can be attributed to various reasons such as increased demand for small-scale energy solutions in remote areas, as well as the growing popularity of residential fuel cell systems for backup power and heat generation.
The residential sector is expected to lead the way in the APAC stationary fuel cell market. This can be attributed to growing awareness and government incentives for residential use of clean energy sources. Additionally, rising electricity prices and concerns over power outages have also led to an increase in demand for stationary fuel cells in households.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Report Description |
2.2 Key Highlights of The Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 APAC Stationary Fuel Cell Market Overview |
3.1 APAC Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
3.2 APAC Stationary Fuel Cell Market Revenue Share, By Technology, 2021 & 2031F |
3.3 APAC Stationary Fuel Cell Market Revenue Share, By Power Range, 2021 & 2031F |
3.4 APAC Stationary Fuel Cell Market Revenue Share, By Application, 2021 & 2031F |
3.5 APAC Stationary Fuel Cell Market Revenue Share, By Vertical, 2021 & 2031F |
3.6 APAC Stationary Fuel Cell Market Revenue Share, By Countries, 2021 & 2031F |
3.7 APAC Stationary Fuel Cell Market Industry Life Cycle |
3.8 APAC Stationary Fuel Cell Market- Porter’s Five Forces, 2024 |
4 APAC Stationary Fuel Cell Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 APAC Stationary Fuel Cell Market Trends |
6 APAC Stationary Fuel Cell Market Overview, By Technology |
6.1 APAC Stationary Fuel Cell Market Revenues & Volume, By MCFC, 2021-2031F |
6.2 APAC Stationary Fuel Cell Market Revenues & Volume, By PAFC, 2021-2031F |
6.3 APAC Stationary Fuel Cell Market Revenues & Volume, By PEMFC, 2021-2031F |
6.4 APAC Stationary Fuel Cell Market Revenues & Volume, By SOFC, 2021-2031F |
7 APAC Stationary Fuel Cell Market Overview, By Power ranges |
7.1 APAC Stationary Fuel Cell Market Revenues & Volume, By Less than 5Kw, 2021-2031F |
7.2 APAC Stationary Fuel Cell Market Revenues & Volume, By 5Kw - 250 Kw, 2021-2031F |
7.3 APAC Stationary Fuel Cell Market Revenues & Volume, By 250Kw - 1mW, 2021-2031F |
7.4 APAC Stationary Fuel Cell Market Revenues & Volume, More Than 1 mW, 2021-2031F |
8 APAC Stationary Fuel Cell Market Overview, By Verticals |
8.1 APAC Stationary Fuel Cell Market Revenues & Volume, By Residential, 2021-2031F |
8.2 APAC Stationary Fuel Cell Market Revenues & Volume, By Commercial, 2021-2031F |
8.3 APAC Stationary Fuel Cell Market Revenues & Volume, By Industrial, 2021-2031F |
9 India Stationary Fuel Cell Market Overview |
9.1 India Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
9.2 India Stationary Fuel Cell Market Revenues and Volume, By Technology, 2021-2031F |
9.3 India Stationary Fuel Cell Market Revenues and Volume, By Power Range, 2021-2031F |
9.4 India Stationary Fuel Cell Market Revenues and Volume, By Vertical, 2021-2031F |
10 China Stationary Fuel Cell Market Overview |
10.1 China Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
10.2 China Stationary Fuel Cell Market Revenues and Volume, By Technology, 2021-2031F |
10.3 China Stationary Fuel Cell Market Revenues and Volume, By Power Range, 2021-2031F |
10.4 China Stationary Fuel Cell Market Revenues and Volume, By Vertical, 2021-2031F |
11 Japan Stationary Fuel Cell Market Overview |
11.1 Japan Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
11.2 Japan Stationary Fuel Cell Market Revenues and Volume, By Technology, 2021-2031F |
11.3 Japan Stationary Fuel Cell Market Revenues and Volume, By Power Range, 2021-2031F |
11.4 Japan Stationary Fuel Cell Market Revenues and Volume, By Vertical, 2021-2031F |
12 Australia Stationary Fuel Cell Market Overview |
12.1 Australia Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
12.2 Australia Stationary Fuel Cell Market Revenues and Volume, By Technology, 2021-2031F |
12.3 Australia Stationary Fuel Cell Market Revenues and Volume, By Power Range, 2021-2031F |
12.4 Australia Stationary Fuel Cell Market Revenues and Volume, By Vertical, 2021-2031F |
13 Indonesia Stationary Fuel Cell Market Overview |
13.1 Indonesia Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
13.2 Indonesia Stationary Fuel Cell Market Revenues and Volume, By Technology, 2021-2031F |
13.3 Indonesia Stationary Fuel Cell Market Revenues and Volume, By Power Range, 2021-2031F |
13.4 Indonesia Stationary Fuel Cell Market Revenues and Volume, By Vertical, 2021-2031F |
14 Thailand Stationary Fuel Cell Market Overview |
14.1 Thailand Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
14.2 Thailand Stationary Fuel Cell Market Revenues and Volume, By Technology, 2021-2031F |
14.3 Thailand Stationary Fuel Cell Market Revenues and Volume, By Power Range, 2021-2031F |
14.4 Thailand Stationary Fuel Cell Market Revenues and Volume, By Vertical, 2021-2031F |
15 Malaysia Stationary Fuel Cell Market Overview |
15.1 Malaysia Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
15.2 Malaysia Stationary Fuel Cell Market Revenues and Volume, By Technology, 2021-2031F |
15.3 Malaysia Stationary Fuel Cell Market Revenues and Volume, By Power Range, 2021-2031F |
15.4 Malaysia Stationary Fuel Cell Market Revenues and Volume, By Vertical, 2021-2031F |
16 Rest of APAC Stationary Fuel Cell Market Overview |
16.1 Rest of APAC Stationary Fuel Cell Market Revenues & Volume, 2021-2031F |
17 APAC Stationary Fuel Cell Market Opportunity Assessment |
17.1 APAC Stationary Fuel Cell Market Opportunity Assessment, By Technology, 2031F |
17.2 APAC Stationary Fuel Cell Market Opportunity Assessment, By Power Range, 2031F |
17.3 APAC Stationary Fuel Cell Market Opportunity Assessment, By Application, 2031F |
17.4 APAC Stationary Fuel Cell Market Opportunity Assessment, By Vertical, 2031F |
18 APAC Stationary Fuel Cell Market Competitive Landscape |
18.1 APAC Stationary Fuel Cell Market Revenue Share, By Companies, 2024 |
18.1.1 India Stationary Fuel Cell Market Revenue Share, By Companies, 2024 |
18.1.2 China Stationary Fuel Cell Market Revenue Share, By Companies, 2024 |
18.1.3 Japan Stationary Fuel Cell Market Revenue Share, By Companies, 2024 |
18.1.4 Australia Stationary Fuel Cell Market Revenue Share, By Companies, 2024 |
18.1.5 Idonesia Stationary Fuel Cell Market Revenue Share, By Companies, 2024 |
18.1.6 Thailand Stationary Fuel Cell Market Revenue Share, By Companies, 2024 |
18.1.7 Malaysia Stationary Fuel Cell Market Revenue Share, By Companies, 2024 |
18.2 APAC Stationary Fuel Cell Market Competitive Benchmarking, By Operating Parameters |
19 Company Profiles |
20 Strategic Recommendations |
21 Disclaimer |
Market Forecast By Technologies (MCFC, PAFC, PEMFC and SOFC), By Power Ranges (Less Than 5kW, 5kW - 250kW, 250kW - 1MW and More Than 1MW, By Verticals (Residential, Commercial and Industrial), By Countries (India, China, Japan, Australia, Malaysia, Thailand, Indonesia and Rest of APAC) and Competitive Landscape
Product Code: ETC000692 | Publication Date: Jun 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Growing government initiatives for the self-generation of electricity and to reduce the cost of current facilities are some of the key factors driving the demand for stationery fuel cell market in the Asia Pacifica region. Moreover, increasing demand for fuel cells from power suppliers and residential builders is expected to propel the Asia Pacific stationary fuel cell market.
According to 6Wresearch, the Asia Pacific (APAC) stationary fuel cell market is anticipated to register growth during 2019-25. Japan, China and India are the leading revenue-generating countries in the region. Japan fuel cell market is driven by government initiatives for the adoption of renewable supply stations. The Indian market is by favourable government policies and incentives towards the adoption of renewable energy technology such as Generation Based Incentives (GBIs), capital and interest subsidies, concessional finance, viability gap funding and others.
Stationary Fuel cells can be efficiently used over large ranges from 1 kW to hundreds of mW. In terms of verticals, commercial and residential applications are expected to gain momentum over the next six years.
The Asia Pacific Stationary Fuel Cell market report thoroughly covers the market by technology, power range, application, regions and key countries. The Asia Pacific stationary fuel cell market outlook report provides an unbiased and detailed analysis of the ongoing Asia Pacific stationary fuel cell market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
• Asia Pacific Stationary Fuel Cell Market Overview
• Asia Pacific Stationary Fuel Cell Market Outlook
• Asia Pacific Stationary Fuel Cell Market Forecast
• Historical Data of Asia Pacific Stationary Fuel Cell Market Revenues & Volume for the Period 2015-2018
• Asia Pacific Stationary Fuel Cell Market Size and Asia Pacific Stationary Fuel Cell Market Forecast of
Revenues & Volume, Until 2025
• Historical Data of Asia Pacific Stationary Fuel Cell Market Revenues & Volume, by Technology, for the
Period 2015-2018
• Market Size & Forecast of Asia Pacific Stationary Fuel Cell Market Revenues & Volume, by Technology,
Until 2025
• Historical Data of Asia Pacific Stationary Fuel Cell Market Revenues and Volume, By Power Range, for
the Period 2015-2018
• Market Size & Forecast of Asia Pacific Stationary Fuel Cell Market Revenues and Volume, By Power Range,
Until 2025
• Historical Data of Asia Pacific Stationary Fuel Cell Market Revenues and Volume, By Applications, for
the Period 2015-2018
• Market Size & Forecast of Asia Pacific Stationary Fuel Cell Market Revenues and Volume, By Applications,
Until 2025
• Historical Data of India Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of India Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Historical Data of China Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of China Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Historical Data of Japan Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Japan Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Historical Data of Australia Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Australia Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Historical Data of New Zealand Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of New Zealand Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Historical Data of Indonesia Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Indonesia Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Historical Data of Malaysia Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Malaysia Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Historical Data of Thailand Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Thailand Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Historical Data of the Rest of Asia Pacific Stationary Fuel Cell Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of Rest of Asia Pacific Stationary Fuel Cell Market Revenues and Volume, Until 2025
• Market Drivers and Restraints
• Asia Pacific Stationary Fuel Cell Market Price Trends
• Asia Pacific Stationary Fuel Cell Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Asia Pacific Stationary Fuel Cell Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations
The Asia Pacific Stationary Fuel Cell Market report provides a detailed analysis of the following market segments: