Global Hydrogen and Fuel Cells Market Growth 2023-2029

Global Hydrogen and Fuel Cells Market Growth 2023-2029

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.

LPI (LP Information)' newest research report, the “Hydrogen and Fuel Cells Industry Forecast” looks at past sales and reviews total world Hydrogen and Fuel Cells sales in 2022, providing a comprehensive analysis by region and market sector of projected Hydrogen and Fuel Cells sales for 2023 through 2029. With Hydrogen and Fuel Cells sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Hydrogen and Fuel Cells industry.

This Insight Report provides a comprehensive analysis of the global Hydrogen and Fuel Cells 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 Hydrogen and Fuel Cells portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Hydrogen and Fuel Cells market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Hydrogen and Fuel Cells 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 Hydrogen and Fuel Cells.

The global Hydrogen and Fuel Cells market size is projected to grow from US$ 3224.7 million in 2022 to US$ 25460 million in 2029; it is expected to grow at a CAGR of 25460 from 2023 to 2029.

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 2019. 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 transport-cooled type, and air-cooled system accounted for the largest market share in 2019.

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 presents a comprehensive overview, market shares, and growth opportunities of Hydrogen and Fuel Cells market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Air-Cooled

Water-Cooled

Segmentation by application

Stationary

Transport

Portable

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 analyzing the company's coverage, product portfolio, its market penetration.

Panasonic

Plug Power

Toshiba ESS

Ballard

SinoHytec

Hydrogenics

Honda

Hyundai Mobis

Toyota Denso

Elring Klinger

Bosch/Powercell

Symbio

Key Questions Addressed in this Report

What is the 10-year outlook for the global Hydrogen and Fuel Cells market?

What factors are driving Hydrogen and Fuel Cells market growth, globally and by region?

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

How do Hydrogen and Fuel Cells market opportunities vary by end market size?

How does Hydrogen and Fuel Cells break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

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