Global Market for Hydrogen Fuel Cells, 2025

Fuel cells are electrochemical energy conversion devices that are poised to replace traditional sources of energy. There are several types of fuel cells, but this study focuses on the major ones. Currently, the market is spearheaded by LT-PEMFC for mobile applications, and SOFC for stationary applications, and they will continue to be dominant for the next 15 years which is the forecast period of this study.


1.0 Summary & Scope
1.1Executive Summary
1.2Scope of the Study
1.3 List of Acronyms
2.0 Fuel Cell Technology
2.1 Fuel Cell Basics
2.1.1 Fuel Cell Definition & Background
2.1.2 Parts of a Fuel Cell System
2.1.3 Fuel Cell Components
2.1.4 Fuel Cell Stacks, Fuels, & Feedstocks
2.1.5 Significance of Fuel Cells
2.1.6 Key Drivers
2.2 Fuel Cell Classification & Description
2.2.1 Classification of Fuel Cells
2.2.2 Technology Characteristics
2.2.3 Fuel Cells & Microgrids
2.2.4 Fuels Used in Fuel Cells
2.2.5 Space Needed by Fuel Cell Installations
2.3 Technological Developments
2.3.1 Versatility
2.3.2 Robustness & Reliability
2.3.3 High-Power-Density Fuel Cells
2.3.4 Catalyst Improvements
2.3.5 Integration with Renewable Energy
2.3.6 Integration with Batteries
2.3.7 Fuel Cell Durability & Lifespan
2.3.8 Environmental Benefits
2.4 Fuel Cell Technology Challenges
2.4.1 Fuel Cell Degradation
2.4.2 Lack of Hydrogen Production & Infrastructure
2.4.3 Competing Technologies
2.4.4 Financial & Supply Chain Vulnerabilities
2.4.5 Lack of Public Awareness
2.4.6 Other Technology Challenges
2.5 Fuel Cells Power Capacity
2.5.1 Fuel Cells vs. Batteries
2.5.2 Energy & Power Density
2.5.3 Power Output
2.5.4 Peak Power
3.0 Trends Shaping the Market
3.1 Shift Toward Renewable Energy
3.2 Government Support & International Collaboration
3.3 Fuel Cell Costs
3.4 Advances in Hydrogen Production
3.5 Falling Price of Hydrogen
4.0 Fuel Cells by Application
4.1 Mobile & Portable Fuel Cell Types
4.1.1 Mobile (Transportation) Fuel Cells
4.1.2 Portable Fuel Cells
4.2 Stationary Fuel Cells
4.2.1 Stationary Fuel Cell Types
4.2.2 Stationary Fuel Cell Attributes
4.2.3 Stationary Fuel Cell Applications
5.0 PEMFCs
5.1 LT-PEMFCs
5.1.1 LT-PEMFCs Working Principle
5.1.2 LT-PEMFC Characteristics
5.1.3 LT-PEMFC Applications
5.1.4 LT-PEMFC Mobile Applications
5.1.5 LT-PEMFC Stationary Applications
5.1.6 LT-PEMFC Strengths
5.1.7 LT-PEMFC Limitations & Challenges
5.1.8 LT-PEMFC Regional Deployments
5.1.9 LT-PEMFC Cost
5.1.10 LT-PEMFC Vendors
5.2 HT-PEMFCs
5.2.1 HT-PEMFC Fundamentals
5.2.2 HT-PEMFC Working Principle
5.2.3 Applications of HT-PEMFCs
5.2.4 HT-PEMFC & Aviation
5.2.5 HT-PEMFC Strengths
5.2.6 Limitations of HT-PEMFCs
5.2.7 Regional Deployments
5.2.8 HT-PEMFC Costs
5.2.9 Manufacturers of HT-PEMFC Systems
5.3 PEMFC Assessment
5.3.1 LT-PEMFC
5.3.2 HT-PEMFC
6.0 DMFCs
6.1 Description
6.2 Working Principle
6.3 Characteristics
6.4 Applications
6.4.1 Mobile/Portable Applications
6.4.2 Stationary Applications
6.5 Strengths
6.6 Limitations & Challenges
6.7 Regional Deployments
6.8 Costs
6.9 LT-PEMFCs vs. DMFCs Costs
6.10 DMFC Manufacturers
6.11 DMFC Assessment
7.0 AFCs
7.1 Description
7.2 Characteristics
7.3 Working Principle
7.4 Applications
7.5 Advantages
7.6 Challenges & Limitations
7.7 Costs
7.8 Manufacturers of AFCs
7.9 AFC Assessment
7.10 AFCs & LT-PEMFCs
8.0 SOFCs
8.1 Description
8.2 Working Principle
8.3 SOFC’s Characteristics
8.4 SOFC Applications
8.4.1 Mobile/Portable
8.4.2 Stationary
8.5 Strengths & Advantages
8.6 Challenges & Limitations
8.7 Costs
8.8 SOFC Vendors
9.0 MCFCs
9.1 Description
9.2 Working Principle
9.3 Characteristics
9.4 Applications of MCFCs
9.5 Advantages
9.6 Challenges & Limitations
9.7 Costs of MCFC
9.8 Manufacturers
9.9 MCFC Assessment
9.10 Comparing DMFCs & MCFCs
9.11 Comparing SOFCs & MCFCs
10.0 PAFCs
10.1 Description
10.2 Working Principle
10.3 Characteristics
10.4 Applications of PAFCs
10.5 Advantages
10.6 Challenges & Limitations
10.7 Costs
10.8 PAFC Vendors
10.9 PAFCs Assessment
11.0 Other Types of Fuel Cells
11.1 Direct Ethanol Fuel Cells (DEFCs)
11.2 Biogas Fuel Cells (BGFC)
11.3 Sulfuric Acid Fuel Cells (SAFCs)
11.4 Reversible Fuel Cells (RFC)
11.4.1 Description of a Reversible Fuel Cell
11.4.2 Types of Reversible Fuel Cells
11.4.3 Characteristics of Reversible Fuel Cells
12.0 Fuel Cell Vendors
12.1 Mergers & Acquisitions
12.2 Vendor Profiles
12.2.1 AFC Energy PLC
12.2.2 Ballard Power Systems
12.2.3 Bloom Energy Profile
12.2.4 Ceres Power Profile
12.2.5 Cummins Inc.
12.2.6 Doosan Fuel Cell
12.2.7 FuelCell Energy
12.2.8 Hyundai Motor
12.2.9 Intelligent Energy
12.2.10 Nedstack
12.2.11 Nissan Motors
12.2.12 Panasonic Corporation
12.2.13 Plug Power
12.2.14 PowerCell Sweden AB
12.2.15 Pragma Industries
12.2.16 Toshiba Energy Systems
12.2.17 Toyota
12.2.18Other Fuel Cell Vendors
13.0 Regional Analysis
13.1 Asia Pacific
13.1.1 China
13.1.2 Japan
13.1.3 South Korea
13.1.4 India
13.1.5 Other APAC Countries
13.2 EMEA
`13.2.1 Germany
13.2.2 France
13.2.3 U.K.
13.2.4 The Netherlands
13.2.5 Africa & the Middle East
13.3 Americas
13.3.1 U.S.
13.3.2 Canada
13.3.3 CALA
14.0 Fuel Cells Market & Forecasts
14.1 Unit Sales of Fuel Cells by Region
14.1.1 Global Unit Sales
14.1.2 APAC Unit Sales
14.1.3 EMEA Unit Sales
14.1.4 Americas Unit Sales
14.2 Unit Sales of Fuel Cells by Type
14.3 Fuel Cell Unit Sales by Temperature Group
14.4 Revenue Forecast
14.4.1 Fuel Cells Revenue by Region
14.4.2 Revenue Share by Region
14.4.3 Revenue Share by Fuel Cell Type
14.4.4 CAGR by Fuel Cell Types
14.4.5 Revenue by Temperature Group
15.0 Conclusion
List of Figures
Figure 1: Global Fuel Cells Annual Unit Sales, 2024-2039
Figure 2: CAGR of Fuel Cells Unit Sales Globally, 2024-2039
Figure 3: APAC Fuel Cells Unit Sales, 2024-2039
Figure 4: EMEA Fuel Cells Unit Sales, 2024-2039
Figure 5: Americas Fuel Cell Unit Sales, 2024-2039
Figure 6: Percentage share of Fuel Cells Sales by Regions, 2024-2039
Figure 7: Percentage share of Fuel Cells Unit Sales by Type, 2024-2039
Figure 8: CAGR of Fuel Cells Unit Sales Globally by Type, 2024-2039
Figure 9: CAGR of Low-to-Medium Temperature Fuel Cells, 2024-2039
Figure 10: Sales of Low-to-Medium Temperature Fuel Cells, 2024-2039
Figure 11: CAGR of Medium-to-High Temperature Fuel Cells, 2024-2039
Figure 12: Sales of Medium-to-High Temperature Fuel Cells, 2024-2039
Figure 13: Global Fuel Cells Annual Sales Revenue, 2024-2039
Figure 14: Global Fuel Cells Sales Revenue by Regions, 2024-2039
Figure 15: Global Fuel Cells Sales Revenue by Type, 2024-2039
Figure 16: Global LT-PEMFC Fuel Cell Annual Sales Revenue, 2024-2039
Figure 17: Global SOFC Fuel Cell Annual Sales Revenue, 2024-2039
Figure 18: Global MCFC Fuel Cell Annual Sales Revenue, 2024-2039
Figure 19: Global AFC Fuel Cell Annual Sales Revenue, 2024-2039
Figure 20: Global PAFC Annual Sales Revenue, 2024-2039
Figure 21: Global DMFC Annual Sales Revenue, 2024-2039
Figure 22: Global HT-PEMFC Fuel Cell Annual Sales Revenue, 2024-2039
Figure 23: CAGR of Fuel Cell Revenue Globally by Type, 2024-2039
Figure 24: Revenue CAGR of Low-to-Medium Temperature Fuel Cells, 2024-2039
Figure 25: Fuel Cells Global Revenue in Low-to-Medium Temperature Group, 2024-2039
Figure 26: Revenue CAGR OF Medium-to-High Temperature Fuel Cells, 2024-2039
Figure 27: Fuel Cells Global Revenue in Medium-to-High Temperature Group, 2024-2039
List of Tables
Table 1: Global Fuel Cells Annual Unit Sales by Region, 2024-2031
Table 2: Global Fuel Cells Annual Unit Sales by Region, 2032-2039
Table 3: Global Fuel Cells Annual Unit Sales Revenue by Region, 2024-2031
Table 4: Global Fuel Cells Annual Unit Sales Revenue by Region, 2032-2039

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