Market Research Heavy Industry Market Research Energy & Resources Market Research Energy Market Research Fuel Cells Market Research

Global Fuel Cells Market For Industrial and Military Applications Market 2024-2028

Best Price Guarantee Length Publisher Published Date SKU
from $2,500 170 Pages TechNavio October, 2023 INF18285507
Best Price Guarantee
Price from $2,500
Length 170 Pages
Publisher TechNavio
Published Date October, 2023
SKU INF18285507

Fuel Cells Market For Industrial And Military Applications 2024-2028


The fuel cells market for industrial and military applications is forecasted to grow by USD 1,166.49 mn during 2023-2028, accelerating at a CAGR of 14.11% during the forecast period. The report on the fuel cells market for industrial and military applications provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for efficient and cleaner technologies, rising applications of fuel cell products, and growing demand for fuel cells from military applications.

Technavio's fuel cells market for industrial and military applications is segmented as below:

By End-user
  • Industrial
  • Military
By Product
  • PEMFC
  • PAFC
  • SOFC
  • Others
By Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa
This study identifies the rise in distributed power generation as one of the prime reasons driving the fuel cells market for industrial and military applications growth during the next few years. Also, an increase in R&D in investment and activities and increasing interest in CHP will lead to sizable demand in the market.

The report on the fuel cells market for industrial and military applications covers the following areas:
  • Fuel cells market for industrial and military applications sizing
  • Fuel cells market for industrial and military applications forecast
  • Fuel cells market for industrial and military applications industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fuel cells market for industrial and military applications vendors that include Acumentrics Inc., Advent Technologies Holdings Inc., Air Liquide SA, AISIN CORP., Altergy Systems, Australian Fuel Cells Pty Ltd., Ballard Power Systems Inc., Bloom Energy Corp., Doosan Corp., Elevator World LLC, FuelCell Energy Inc., GenCell Ltd., Hyster Yale Materials Handling Inc., Intelligent Energy Ltd., Nedstack Fuel Cell Technology BV, Plug Power Inc., Redox Power Systems LLC, SFC Energy AG, Toshiba Corp., and TW Horizon Fuel Cell Technologies. Also, the fuel cells market for industrial and military applications analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.


  • Executive Summary
    • Market overview
      • Table Executive Summary – Chart on Market Overview
      • Table Executive Summary – Data Table on Market Overview
      • Table Executive Summary – Chart on Global Market Characteristics
      • Table Executive Summary – Chart on Market by Geography
      • Table Executive Summary – Chart on Market Segmentation by End-user
      • Table Executive Summary – Chart on Market Segmentation by Product
      • Table Executive Summary – Chart on Incremental Growth
      • Table Executive Summary – Data Table on Incremental Growth
      • Table Executive Summary – Chart on Vendor Market Positioning
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Market Characteristics
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2023
    • Market outlook: Forecast for 2023-2028
      • Table Chart on Global - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Global - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Table Data Table on Global Market: Year-over-year growth 2023-2028 (%)
  • Historic Market Size
    • Global fuel cells market for industrial and military applications 2018 - 2022
      • Table Historic Market Size – Data Table on global fuel cells market for industrial and military applications 2018 - 2022 ($ million)
    • End-user Segment Analysis 2018 - 2022
      • Table Historic Market Size – End-user Segment 2018 - 2022 ($ million)
    • Product Segment Analysis 2018 - 2022
      • Table Historic Market Size – Product Segment 2018 - 2022 ($ million)
    • Geography Segment Analysis 2018 - 2022
      • Table Historic Market Size – Geography Segment 2018 - 2022 ($ million)
    • Country Segment Analysis 2018 - 2022
      • Table Historic Market Size – Country Segment 2018 - 2022 ($ million)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis - Comparison between 2023 and 2028
    • Bargaining power of buyers
      • Table Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • Threat of new entrants
      • Table Threat of new entrants – Impact of key factors in 2023 and 2028
    • Threat of substitutes
      • Table Threat of substitutes – Impact of key factors in 2023 and 2028
    • Threat of rivalry
      • Table Threat of rivalry – Impact of key factors in 2023 and 2028
    • Market condition
      • Table Chart on Market condition - Five forces 2023 and 2028
  • Market Segmentation by End-user
    • Market segments
      • Table Chart on End-user - Market share 2023-2028 (%)
      • Table Data Table on End-user - Market share 2023-2028 (%)
    • Comparison by End-user
      • Table Chart on Comparison by End-user
      • Table Data Table on Comparison by End-user
    • Industrial - Market size and forecast 2023-2028
      • Table Chart on Industrial - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Industrial - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Industrial - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Industrial - Year-over-year growth 2023-2028 (%)
    • Military - Market size and forecast 2023-2028
      • Table Chart on Military - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Military - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Military - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Military - Year-over-year growth 2023-2028 (%)
    • Market opportunity by End-user
      • Table Market opportunity by End-user ($ million)
      • Table Data Table on Market opportunity by End-user ($ million)
  • Market Segmentation by Product
    • Market segments
      • Table Chart on Product - Market share 2023-2028 (%)
      • Table Data Table on Product - Market share 2023-2028 (%)
    • Comparison by Product
      • Table Chart on Comparison by Product
      • Table Data Table on Comparison by Product
    • PEMFC - Market size and forecast 2023-2028
      • Table Chart on PEMFC - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on PEMFC - Market size and forecast 2023-2028 ($ million)
      • Table Chart on PEMFC - Year-over-year growth 2023-2028 (%)
      • Table Data Table on PEMFC - Year-over-year growth 2023-2028 (%)
    • PAFC - Market size and forecast 2023-2028
      • Table Chart on PAFC - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on PAFC - Market size and forecast 2023-2028 ($ million)
      • Table Chart on PAFC - Year-over-year growth 2023-2028 (%)
      • Table Data Table on PAFC - Year-over-year growth 2023-2028 (%)
    • SOFC - Market size and forecast 2023-2028
      • Table Chart on SOFC - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on SOFC - Market size and forecast 2023-2028 ($ million)
      • Table Chart on SOFC - Year-over-year growth 2023-2028 (%)
      • Table Data Table on SOFC - Year-over-year growth 2023-2028 (%)
    • Others - Market size and forecast 2023-2028
      • Table Chart on Others - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Others - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Others - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Others - Year-over-year growth 2023-2028 (%)
    • Market opportunity by Product
      • Table Market opportunity by Product ($ million)
      • Table Data Table on Market opportunity by Product ($ million)
  • Customer Landscape
    • Customer landscape overview
      • Table Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
  • Geographic Landscape
    • Geographic segmentation
      • Table Chart on Market share by geography 2023-2028 (%)
      • Table Data Table on Market share by geography 2023-2028 (%)
    • Geographic comparison
      • Table Chart on Geographic comparison
      • Table Data Table on Geographic comparison
    • APAC - Market size and forecast 2023-2028
      • Table Chart on APAC - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on APAC - Market size and forecast 2023-2028 ($ million)
      • Table Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Table Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • North America - Market size and forecast 2023-2028
      • Table Chart on North America - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on North America - Market size and forecast 2023-2028 ($ million)
      • Table Chart on North America - Year-over-year growth 2023-2028 (%)
      • Table Data Table on North America - Year-over-year growth 2023-2028 (%)
    • Europe - Market size and forecast 2023-2028
      • Table Chart on Europe - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Europe - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • South America - Market size and forecast 2023-2028
      • Table Chart on South America - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on South America - Market size and forecast 2023-2028 ($ million)
      • Table Chart on South America - Year-over-year growth 2023-2028 (%)
      • Table Data Table on South America - Year-over-year growth 2023-2028 (%)
    • Middle East and Africa - Market size and forecast 2023- 2028
      • Table Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • US - Market size and forecast 2023-2028
      • Table Chart on US - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on US - Market size and forecast 2023-2028 ($ million)
      • Table Chart on US - Year-over-year growth 2023-2028 (%)
      • Table Data Table on US - Year-over-year growth 2023-2028 (%)
    • Japan - Market size and forecast 2023-2028
      • Table Chart on Japan - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Japan - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Japan - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Japan - Year-over-year growth 2023-2028 (%)
    • South Korea - Market size and forecast 2023-2028
      • Table Chart on South Korea - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on South Korea - Market size and forecast 2023-2028 ($ million)
      • Table Chart on South Korea - Year-over-year growth 2023-2028 (%)
      • Table Data Table on South Korea - Year-over-year growth 2023-2028 (%)
    • China - Market size and forecast 2023-2028
      • Table Chart on China - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on China - Market size and forecast 2023-2028 ($ million)
      • Table Chart on China - Year-over-year growth 2023-2028 (%)
      • Table Data Table on China - Year-over-year growth 2023-2028 (%)
    • Germany - Market size and forecast 2023-2028
      • Table Chart on Germany - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Germany - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Germany - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Germany - Year-over-year growth 2023-2028 (%)
    • Market opportunity by geography
      • Table Market opportunity by geography ($ million)
      • Table Data Tables on Market opportunity by geography ($ million)
  • Drivers, Challenges, and Trends
    • Market drivers
      • Growing demand for efficient and cleaner technologies
      • Rising applications of fuel cell products
      • Growing demand of fuel cells from military applications
    • Market challenges
      • High implementation costs of fuel cells
      • Competition from alternate sources of fuel cells
      • Issues associated with fuel cells
    • Impact of drivers and challenges
      • Table Impact of drivers and challenges in 2023 and 2028
    • Market trends
      • Rise in distributed power generation
      • Increase in R and D in investment and activities
      • Increasing interest in CHP
  • Vendor Landscape
    • Overview
    • Vendor landscape
      • Table Overview on Criticality of inputs and Factors of differentiation
    • Landscape disruption
      • Table Overview on factors of disruption
    • Industry risks
      • Table Impact of key risks on business
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Matrix on vendor position and classification
    • Acumentrics Inc.
      • Table Acumentrics Inc. - Overview
      • Table Acumentrics Inc. - Product / Service
      • Table Acumentrics Inc. - Key offerings
    • AISIN CORP.
      • Table AISIN CORP. - Overview
      • Table AISIN CORP. - Business segments
      • Table AISIN CORP. - Key offerings
      • Table AISIN CORP. - Segment focus
    • Altergy Systems
      • Table Altergy Systems - Overview
      • Table Altergy Systems - Product / Service
      • Table Altergy Systems - Key offerings
    • Ballard Power Systems Inc.
      • Table Ballard Power Systems Inc. - Overview
      • Table Ballard Power Systems Inc. - Product / Service
      • Table Ballard Power Systems Inc. - Key news
      • Table Ballard Power Systems Inc. - Key offerings
    • Bloom Energy Corp.
      • Table Bloom Energy Corp. - Overview
      • Table Bloom Energy Corp. - Product / Service
      • Table Bloom Energy Corp. - Key news
      • Table Bloom Energy Corp. - Key offerings
    • Doosan Corp.
      • Table Doosan Corp. - Overview
      • Table Doosan Corp. - Product / Service
      • Table Doosan Corp. - Key offerings
    • FuelCell Energy Inc.
      • Table FuelCell Energy Inc. - Overview
      • Table FuelCell Energy Inc. - Product / Service
      • Table FuelCell Energy Inc. - Key offerings
    • Hyster Yale Materials Handling Inc.
      • Table Hyster Yale Materials Handling Inc. - Overview
      • Table Hyster Yale Materials Handling Inc. - Business segments
      • Table Hyster Yale Materials Handling Inc. - Key offerings
      • Table Hyster Yale Materials Handling Inc. - Segment focus
    • Intelligent Energy Ltd.
      • Table Intelligent Energy Ltd. - Overview
      • Table Intelligent Energy Ltd. - Product / Service
      • Table Intelligent Energy Ltd. - Key offerings
    • Nedstack Fuel Cell Technology BV
      • Table Nedstack Fuel Cell Technology BV - Overview
      • Table Nedstack Fuel Cell Technology BV - Product / Service
      • Table Nedstack Fuel Cell Technology BV - Key offerings
    • Plug Power Inc.
      • Table Plug Power Inc. - Overview
      • Table Plug Power Inc. - Product / Service
      • Table Plug Power Inc. - Key offerings
    • Redox Power Systems LLC
      • Table Redox Power Systems LLC - Overview
      • Table Redox Power Systems LLC - Product / Service
      • Table Redox Power Systems LLC - Key offerings
    • SFC Energy AG
      • Table SFC Energy AG - Overview
      • Table SFC Energy AG - Business segments
      • Table SFC Energy AG - Key news
      • Table SFC Energy AG - Key offerings
      • Table SFC Energy AG - Segment focus
    • Toshiba Corp.
      • Table Toshiba Corp. - Overview
      • Table Toshiba Corp. - Business segments
      • Table Toshiba Corp. - Key news
      • Table Toshiba Corp. - Key offerings
      • Table Toshiba Corp. - Segment focus
    • TW Horizon Fuel Cell Technologies
      • Table TW Horizon Fuel Cell Technologies - Overview
      • Table TW Horizon Fuel Cell Technologies - Product / Service
      • Table TW Horizon Fuel Cell Technologies - Key offerings
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Inclusions and exclusions checklist
      • Table Inclusions checklist
      • Table Exclusions checklist
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

$2,500
$4,000

Research Assistance

US: 800.298.5699
Int'l: +1.240.747.3093
Live help
Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Other tasks

Cookie Settings