Global Fuel Cell Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Fuel Cell Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

A fuel cell is an energy conversion device that continuously converts chemical energy in a fuel into electrical energy, as long as both the fuel and oxidant are available. It exhibits advantageous characteristics exceeding conventional combustion-based technologies that are currently applied in certain critical fields, such as electronic, housing power, power plants, passenger vehicles, as well as military applications. Operating with higher efficiency than combustion engines, fuel cells demonstrate an electrical energy conversion efficiency of 60% or more, with lower emissions. Water is the only product of the power generation process in hydrogen fuel cells, and thus there are no carbon dioxide emissions or air pollutants that create smog and cause health problems during operation. Moreover, fuel cells emit low noise during operation, because they contain fewer moving parts. Fuel cells come in many varieties, but they all work in generally the same manner. In essence, a fuel cell consists of three adjacent segments, namely, the anode, electrolyte, and cathode. When hydrogen undergoes an oxidation reaction at the anode (), it generates cations that migrate to the cathode through the electrolyte and free electrons that flow the external circuit. Contrarily, a reduction reaction occurs at the cathode, where oxygen is reduced to water by the cations and electrons (Ralph et al., 1998). The electrochemical reaction that occurs at the cathode is . Based on the type of electrolyte used, fuel cells can be categorized into alkaline fuel cells (AFCs), PEMFCs, phosphoric acid fuel cells (PAFCs), molten carbonate fuel cells (MCFCs), and solid oxide fuel cells (SOFCs).

According to our (Global Info Research) latest study, the global Fuel Cell market size was valued at US$ 5434 million in 2023 and is forecast to a readjusted size of USD 30950 million by 2030 with a CAGR of 28.5% during review period.

The major players in global Fuel Cell market include Bloom Energy, Panasonic, Toshiba ESS, etc. The top 5 players occupy about 56% shares of the global market. North America and Japan are main markets, they occupy about 75% of the global market. PEMFCs is the main type, with a share about 72%. Stationary is the main application, which holds a share about 67%.

This report is a detailed and comprehensive analysis for global Fuel Cell market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2024, are provided.

Key Features:

Global Fuel Cell market size and forecasts, in consumption value ($ Million), sales quantity (GWh), and average selling prices (USD/KWh), 2019-2030

Global Fuel Cell market size and forecasts by region and country, in consumption value ($ Million), sales quantity (GWh), and average selling prices (USD/KWh), 2019-2030

Global Fuel Cell market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (GWh), and average selling prices (USD/KWh), 2019-2030

Global Fuel Cell market shares of main players, shipments in revenue ($ Million), sales quantity (GWh), and ASP (USD/KWh), 2019-2024

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Fuel Cell

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Fuel Cell market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Bloom Energy, Panasonic, Plug Power, Toshiba ESS, Aisin Seiki, Toyota, Ballard, Hyundai Mobis, SinoHytec, Mitsubishi, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Fuel Cell market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
PEMFCs
SOFC
MCFC
PAFC
Others

Market segment by Application
Transport
Stationary
Portable

Major players covered
Bloom Energy
Panasonic
Plug Power
Toshiba ESS
Aisin Seiki
Toyota
Ballard
Hyundai Mobis
SinoHytec
Mitsubishi
Hydrogenics
Pearl Hydrogen
Honda
SOLIDpower
Sunrise Power
Hyster-Yale Group

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Fuel Cell product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Fuel Cell, with price, sales quantity, revenue, and global market share of Fuel Cell from 2019 to 2024.

Chapter 3, the Fuel Cell competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Fuel Cell breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2019 to 2024.and Fuel Cell market forecast, by regions, by Type, and by Application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Fuel Cell.

Chapter 14 and 15, to describe Fuel Cell sales channel, distributors, customers, research findings and conclusion.