Stationary Fuel Cell market is segmented by Product type, which again sub segmented as Proton exchange membrane fuel cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Solid oxide fuel cell (SOFC), MCFC (Molten carbonate fuel cells) and others. Whereas on the basis of application, stationary fuel cell market is segmented as stationary, Transportation and Portable.
The segment by product is expected to grow at a XX% rate of CAGR during the forecast period.
Proton exchange membrane fuel cell (PEMFC) can be used in various applications like, automobiles, telecommunications, forklifts, primary systems, as well as backup power systems. Such applicative properties, make fuel cell versatile and ensure the rise in demand for the forecast period.
Solid oxide fuel cell (SOFC) segment will experience the faster growth and is anticipated to rise at forecasted CAGR of XX.X% in the coming years.
MCFC (Molten carbonate fuel cells) are mostly used in large stationary power plants, due to rising industrialization, segment MCFC is expected to show a rapid growth in the forecast period.
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