The global fuel cell generator market is projected to reach USD 2.1 billion by 2030 from an estimated USD 0.4 billion in 2023, at a CAGR of 25.4% during the forecast period. The expansion of the market is propelled by several factors, including the growing demand for cleaner and more sustainable energy solutions, growing need for decentralized power generation, and the government support and incentives.
The fuel cell generators market is supported by numerous international players who have a global presence and local players who possess a robust domestic supply network. Bloom Energy (US), Doosan Fuel Cell Co., Ltd. (South Korea), Ballard Power Systems (Canada), ABB (Switzerland), and Loop Energy Inc. (Canada) are the market leaders in the global fuel cell generator market. To expand their market share, these companies employ strategies like entering into contracts, agreements, as well as engaging in mergers and acquisitions.
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Bloom Energy is one of the leading manufacturers of fuel cell systems. Additionally, it provides services relating to carbon capture systems, electrolyzers, and other renewable energy sources. The four business segments that make up Bloom Energy are Product, Installation, Service, and Electricity. Its Product business sector offers fuel cell generators. Under the moniker Energy Servers, the business creates, produces, and distributes fuel cells, the most cutting-edge thermal electric production technology available.
Bloom Energy Server, commonly known as Bloom Box, is offered by the business. It is based on systems that use solid oxide fuel cells. It is an on-site, modular stack of fuel cells that continuously generates electricity. It is fuel-flexible and can produce energy from hydrogen, biogas, and natural gas. A stack is created by combining several fuel cells, and numerous stacks are assembled to provide 50kW power modules.
In 2022, Bloom energy signed a contract with Aspire Bakeries for the installations of fuel cell in California. The bakery's project, initiated in 2019, aims to decrease reliance on the Los Angeles power grid by generating 75% of its electricity through on-site fuel cells.
Ballard Power Systems specializes in the design, development, manufacture, and sale of hydrogen fuel cell products. Ballard offers a range of products, including fuel cell stacks, modules, and complete fuel cell power systems. These systems can be integrated into different platforms, such as buses, commercial vehicles, trains, boats, and portable power units.
On the basis of proton-exchange membrane (PEM) technology, the company offers fuel cells. The division responsible for product development mostly works on creating fuel cell automobiles. In order to increase the overall cost, longevity, and dependability of its goods, the company has recently concentrated on investments in research efforts relevant to membrane electrode assemblies (MEA) and their subcomponents.
The company is operating in all significant geographic areas, including North America, Europe, and Asia Pacific. The business has built heavy-duty vehicle production plants in a number of nations, including China, Canada, and Denmark.
Plug Power Inc. is a leading alternative energy technology provider focusing on designing, developing, commercializing, and manufacturing hydrogen and fuel cell systems. The company primarily manufactures proton exchange membrane electrolyzers and fuel cell products and is focused on green hydrogen generation. Moreover, it offers fuel cell products in stationary backup power applications. Plug Power Inc. carries out its business as a single operating segment, providing commercially viable hydrogen and fuel cell product solutions.
For supply chain and logistics applications, on-road electric vehicles, the stationary power sector, and more, Plug Power Inc. provides end-to-end zero-emissions fuel cell systems and clean hydrogen. Two fuel cell generators are offered by the company under the GenSure brand. These generators use hydrogen as a fuel and transform the hydrogen into energy using proton exchange membrane (PEM) fuel cell technology.
Fuel Cell Generator Market by End User (Marine, Aquaculture, Construction, Agriculture, Data Centers, Emergency Response Generators), Size (Small (Up to 200 kW), Large (>200 kW)), Fuel Type (Hydrogen, Ammonia, Methanol), Region - Global Forecast to 2030
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