Global Hydrogen and Fuel Cells Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Hydrogen and Fuel Cells market size was valued at US$ 6075 million in 2024 and is forecast to a readjusted size of USD 32110 million by 2031 with a CAGR of 27.1% during review period.

Hydrogen and Fuel Cells use hydrogen as a chemical element, and are made into batteries that store energy. The basic principle is the reverse reaction of electrolysis of water, hydrogen and oxygen were supplied to the cathode and anode, hydrogen diffusion through the cathode and the electrolyte reaction, the release of electrons through the external load to reach the anode.

Traditionally, North American market develops significantly due to commercialization and adoption of electric vehicles. However, Asia Pacific emerges as a growing market in terms of shipment in 2024. Growing demand for new energy vehicles and power systems in APAC market triggers the market demand. The hydrogen and fuel cells market, by type, is segmented into air-cooled type and Water-cooled Type, and air-cooled system accounted for the largest market share in 2023. Growing demand for clean energy generation and reliance on hydrogen and fuel cells-based public transportation systems in developed regions is driving market growth. Moreover, advantages offered by air-cooled system, such as structure is simple, light weight, the price is relatively cheap are likely to drive the demand for air-cooled system during the forecast period. Power based electricity generation is effective in minimizing emission of carbon dioxide or any other hazardous pollutants. Hence, hydrogen and fuel cells technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players.

This report is a detailed and comprehensive analysis for global Hydrogen and Fuel Cells 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 2025, are provided.

Key Features:

Global Hydrogen and Fuel Cells market size and forecasts, in consumption value ($ Million), sales quantity (MW), and average selling prices (US$/KW), 2020-2031

Global Hydrogen and Fuel Cells market size and forecasts by region and country, in consumption value ($ Million), sales quantity (MW), and average selling prices (US$/KW), 2020-2031

Global Hydrogen and Fuel Cells market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (MW), and average selling prices (US$/KW), 2020-2031

Global Hydrogen and Fuel Cells market shares of main players, shipments in revenue ($ Million), sales quantity (MW), and ASP (US$/KW), 2020-2025

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 Hydrogen and Fuel Cells

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 Hydrogen and Fuel Cells 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 Panasonic, Plug Power, Toshiba ESS, Ballard, SinoHytec, Cummins (Hydrogenics), Nedstack, Hyundai Mobis, Toyota Denso, Elring Klinger, etc.

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

Market Segmentation

Hydrogen and Fuel Cells market is split by Type and by Application. For the period 2020-2031, 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
Air-Cooled
Water-Cooled

Market segment by Application
Stationary
Transportation
Portable

Major players covered
Panasonic
Plug Power
Toshiba ESS
Ballard
SinoHytec
Cummins (Hydrogenics)
Nedstack
Hyundai Mobis
Toyota Denso
Elring Klinger
Bosch/Powercell
Symbio
Pearl Hydrogen
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 Hydrogen and Fuel Cells product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Hydrogen and Fuel Cells, with price, sales quantity, revenue, and global market share of Hydrogen and Fuel Cells from 2020 to 2025.

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

Chapter 4, the Hydrogen and Fuel Cells breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

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 2020 to 2031.

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 2020 to 2025.and Hydrogen and Fuel Cells market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

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 Hydrogen and Fuel Cells.

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