Global Fuel Cell Electric Vehicles Market Growth 2025-2031

Global Fuel Cell Electric Vehicles Market Growth 2025-2031

The global Fuel Cell Electric Vehicles market size is predicted to grow from US$ 2491 million in 2025 to US$ 16020 million in 2031; it is expected to grow at a CAGR of 36.4% from 2025 to 2031.

Fuel Cell Electric Vehicles or Fuel Cell Vehicles is a type of vehicle which uses a fuel cell to power its on-board electric motor. Fuel cells in vehicles create electricity to power an electric motor, generally using oxygen from the air and compressed hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no harmful tailpipe exhaust—they emit water vapor and warm air.

Global fuel cell electric vehicles key players include Honda, Hyundai, Toyota Mirai, etc. Global top 2 manufacturers hold a share over 70%.

Asia-Pacific is the largest market, with a share over 75%, followed by North America, both have a share over 15 percent.

In terms of application, the largest application is for sales, with a share over 90%, followed by for public lease.

LP Information, Inc. (LPI) ' newest research report, the “Fuel Cell Electric Vehicles Industry Forecast” looks at past sales and reviews total world Fuel Cell Electric Vehicles sales in 2024, providing a comprehensive analysis by region and market sector of projected Fuel Cell Electric Vehicles sales for 2025 through 2031. With Fuel Cell Electric Vehicles sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Fuel Cell Electric Vehicles industry.

This Insight Report provides a comprehensive analysis of the global Fuel Cell Electric Vehicles landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Fuel Cell Electric Vehicles portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Fuel Cell Electric Vehicles market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Fuel Cell Electric Vehicles and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Fuel Cell Electric Vehicles.

This report presents a comprehensive overview, market shares, and growth opportunities of Fuel Cell Electric Vehicles market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Passenger Vehicles
Commercial Vehicles

Segmentation by Application:
For Sales
For Public Lease

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Hyundai
Toyota
Foton
Nanjing Golden Dragon
Yutong
Feichi Bus
Zhongtong Bus
Hyzon Motors
Xiamen Golden Dragon
Yunnan Wulong
Honda

Key Questions Addressed in this Report

What is the 10-year outlook for the global Fuel Cell Electric Vehicles market?

What factors are driving Fuel Cell Electric Vehicles market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Fuel Cell Electric Vehicles market opportunities vary by end market size?

How does Fuel Cell Electric Vehicles break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.