Fuel Cells Market Size, Share Report, Analysis, Trends, Growth 2032

Fuel Cell Market

Fuel Cell Market : By Type (Proton Exchange Membrane Fuel Cells (Pemfc), Molten Carbonate Fuel Cells (Mcfc), Solid Oxide Fuel Cells (Sofc), Direct Methanol Fuel Cells (Dmfc), Phosphoric Acid Fuel Cells (Pafc), Others), By Application (Stationary, Transport, Portable), and By Region - Global Industry Analysis, Size, Share, Growth, Latest Trends, Regional Outlook, and Forecast 2024 - 2032

Category: Chemical & Materials Report Format : PDF Pages: 167 Report Code: ZMR-2316 Published Date: Nov-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 7.29 Billion USD 57.89 Billion 25.89% 2023

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By Application
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Fuel Cell Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Fuel Cell Market – Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
    • 4.2. Proton Exchange Membrane Fuel Cells (PEMFC)
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Multen Carbonate Fuel Cells (MCFC)
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Sulic Oxide Fuel Cells (SOFC)
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Direct Methanul Fuel Cells (DMFC)
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Phosphoric Acid Fuel Cells (PAFC)
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Others
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Fuel Cell Market – Application Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 5.2. Stationary
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Transport
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Portable
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6: Fuel Cell Market – Industry Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Application, 2016 – 2028
      • 6.2.4. U.S.
        • 6.2.4.1. U.S. Market Revenue, By Type, 2016 – 2028
        • 6.2.4.2. U.S. Market Revenue, By Application, 2016 – 2028
      • 6.2.5. Canada
        • 6.2.5.1. Canada Market Revenue, By Type, 2016 – 2028
        • 6.2.5.2. Canada Market Revenue, By Application, 2016 – 2028
      • 6.2.6. Mexico
        • 6.2.6.1. Mexico Market Revenue, By Type, 2016 – 2028
        • 6.2.6.2. Mexico Market Revenue, By Application, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Application, 2016 – 2028
      • 6.3.4. Germany
        • 6.3.4.1. Germany Market Revenue, By Type, 2016 – 2028
        • 6.3.4.2. Germany Market Revenue, By Application, 2016 – 2028
      • 6.3.5. France
        • 6.3.5.1. France Market Revenue, By Type, 2016 – 2028
        • 6.3.5.2. France Market Revenue, By Application, 2016 – 2028
      • 6.3.6. U.K.
        • 6.3.6.1. U.K. Market Revenue, By Type, 2016 – 2028
        • 6.3.6.2. U.K. Market Revenue, By Application, 2016 – 2028
      • 6.3.7. Italy
        • 6.3.7.1. Italy Market Revenue, By Type, 2016 – 2028
        • 6.3.7.2. Italy Market Revenue, By Application, 2016 – 2028
      • 6.3.8. Spain
        • 6.3.8.1. Spain Market Revenue, By Type, 2016 – 2028
        • 6.3.8.2. Spain Market Revenue, By Application, 2016 – 2028
      • 6.3.9. Rest of Europe
        • 6.3.9.1. Rest of Europe Market Revenue, By Type, 2016 – 2028
        • 6.3.9.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 6.4.4. China
        • 6.4.4.1. China Market Revenue, By Type, 2016 – 2028
        • 6.4.4.2. China Market Revenue, By Application, 2016 – 2028
      • 6.4.5. Japan
        • 6.4.5.1. Japan Market Revenue, By Type, 2016 – 2028
        • 6.4.5.2. Japan Market Revenue, By Application, 2016 – 2028
      • 6.4.6. India
        • 6.4.6.1. India Market Revenue, By Type, 2016 – 2028
        • 6.4.6.2. India Market Revenue, By Application, 2016 – 2028
      • 6.4.7. South Korea
        • 6.4.7.1. South Korea Market Revenue, By Type, 2016 – 2028
        • 6.4.7.2. South Korea Market Revenue, By Application, 2016 – 2028
      • 6.4.8. South-East Asia
        • 6.4.8.1. South-East Asia Market Revenue, By Type, 2016 – 2028
        • 6.4.8.2. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 6.4.9. Rest of Asia Pacific
        • 6.4.9.1. Rest of Asia Pacific Market Revenue, By Type, 2016 – 2028
        • 6.4.9.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Application, 2016 – 2028
      • 6.5.4. Brazil
        • 6.5.4.1. Brazil Market Revenue, By Type, 2016 – 2028
        • 6.5.4.2. Brazil Market Revenue, By Application, 2016 – 2028
      • 6.5.5. Argentina
        • 6.5.5.1. Argentina Market Revenue, By Type, 2016 – 2028
        • 6.5.5.2. Argentina Market Revenue, By Application, 2016 – 2028
      • 6.5.6. Rest of Latin America
        • 6.5.6.1. Rest of Latin America Market Revenue, By Type, 2016 – 2028
        • 6.5.6.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.4. GCC Countries
        • 6.6.4.1. GCC Countries Market Revenue, By Type, 2016 – 2028
        • 6.6.4.2. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 6.6.5. South Africa
        • 6.6.5.1. South Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.5.2. South Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.5. Rest of Middle-East Africa
        • 6.6.5.1. Rest of Middle-East Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.5.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 7: Fuel Cell Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Fuel Cell Market: Company Market Share, 2019
      • 8.1.2. Global Fuel Cell Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Fuel Cell Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Fuel Cell Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Type Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. AFC Energy
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Aisin Seiki Co. Ltd.
    • 9.3. Ballard Power Systems Inc.
    • 9.4. Bloom Energy
    • 9.5. Ceramic Fuel Cells Limited
    • 9.6. Ceres Power Huldings PLC
    • 9.7. Doosan Corporation
    • 9.8. Fuelcell Energy
    • 9.9. Horizon Fuel Cell Technulogies
    • 9.10. Hydrogenics Corporation
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Fuel Cell Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028 
FIG NO. 7. Global Fuel Cell Market for Proton Exchange Membrane Fuel Cells (PEMFC), Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Fuel Cell Market for Proton Exchange Membrane Fuel Cells (PEMFC), By Country, 2020 & 2028
FIG NO. 9. Global Fuel Cell Market for Molten Carbonate Fuel Cells (MCFC), Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Fuel Cell Market for Molten Carbonate Fuel Cells (MCFC), By Country, 2020 & 2028
FIG NO. 11. Global Fuel Cell Market for Solic Oxide Fuel Cells (SOFC), Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Fuel Cell Market for  Solic Oxide Fuel Cells (SOFC) By Country, 2020 & 2028
FIG NO. 13. Global Fuel Cell Market for Direct Methanol Fuel Cells (DMFC) Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Fuel Cell Market for Direct Methanol Fuel Cells (DMFC) By Country, 2020 & 2028
FIG NO. 15. Global Fuel Cell Market for Phosphoric Acid Fuel Cells (PAFC)  Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Fuel Cell Market for Phosphoric Acid Fuel Cells (PAFC) By Country, 2020 & 2028
FIG NO. 17. Global Fuel Cell Market for Others Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Fuel Cell Market for Others By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By Application, 2020 & 2028 
FIG NO. 20. Global Fuel Cell Market for Stationary, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Fuel Cell Market for Stationary, By Country, 2020 & 2028
FIG NO. 22. Global Fuel Cell Market for Transport, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Fuel Cell Market for Transport, By Country, 2020 & 2028
FIG NO. 24. Global Fuel Cell Market for Portable, Revenue (USD Billion) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Fuel Cell Market for Portable, By Country, 2020 & 2028
FIG NO. 26. Global Fuel Cell Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Fuel Cell Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 28. Porter’s Five Forces Analysis for Global Fuel Cell Market
FIG NO. 29. PEST Analysis for Global Fuel Cell Market
FIG NO. 30. Pricing Analysis for Global Fuel Cell Market
FIG NO. 31. Value Chain Analysis for Global Fuel Cell Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. Archer Daniels Midland Company Business Segment Revenue Share, 2020 (%)
FIG NO. 36. Archer Daniels Midland Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Type, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
 


Table Of Tables

List of Tables 

TABLE NO. 1. Global Fuel Cell Market: Snapshot
TABLE NO. 2. Quarterly Fuel Cell Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Fuel Cell Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion) 
TABLE NO. 6. Global Fuel Cell Market for Proton Exchange Membrane Fuel Cells (PEMFC), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Fuel Cell Market for Molten Carbonate Fuel Cells (MCFC), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Fuel Cell Market for Solic Oxide Fuel Cells (SOFC) by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Fuel Cell Market for Direct Methanol Fuel Cells (DMFC) by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Fuel Cell Market for Phosphoric Acid Fuel Cells (PAFC) by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Fuel Cell Market for Others by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Fuel Cell Market for Stationary, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Fuel Cell Market for Transport, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Fuel Cell Market for Portable, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Fuel Cell Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Fuel Cell Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Fuel Cell Market Revenue, By Type, 2016 – 2028 (USD Billon)
TABLE NO. 18. North America Fuel Cell Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 19. U.S. Fuel Cell Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Fuel Cell Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 21. Canada Fuel Cell Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 22. Canada Fuel Cell Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 23. Mexico Fuel Cell Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 24. Mexico Fuel Cell Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 25. Drivers for the Fuel Cell Market: Impact Analysis
TABLE NO. 26. Restraints for the Fuel Cell Market: Impact Analysis
TABLE NO. 27. Major Buyers of Fuel Cell
TABLE NO. 28. Distributors/Traders List of Fuel Cell
TABLE NO. 29. Global Fuel Cell Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 30: Global Fuel Cell Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)   


 

Methodology

FrequentlyAsked Questions

The global Fuel Cell Market was valued at US$ 7.29 Billion in 2023.

 

 

The global Fuel Cell Market is expected to reach US$ 57.89 Billion by 2032 at a CAGR of about 25.89% from 2024 to 2032.

Factors such as ease of storage, lesser carbon emissions than combustion engines, and a longer life period are going to drive up demand for such cells on the market. In the coming years, rising knowledge of the benefits of fuel cells, as well as the depletion of non - renewable resources, are expected to propel the growth of the fuel cell market.

In 2023, North America accounted towards a major share of Fuel Cell market and will continue to dominate the market over the next few years. Due to the increasing demand for a sustainable source of energy to fulfil the demands of the region's rapidly growing population, Asia Pacific is likely to see tremendous growth.

Some of the major players of global Fuel Cell market includes  AFC Energy, Aisin Seiki Co. Ltd., Ballard Power Systems Inc., Bloom Energy, Ceramic Fuel Cells Limited, Ceres Power Holdings PLC, Doosan Corporation, Fuelcell Energy, Horizon Fuel Cell Technologies and Hydrogenics Corporation among others . 

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