Fuel Cell Market Research Report Forecast to 2032

Fuel Cell Market is expected to witness an incredible CAGR of 28.3% during the forecast period. The Fuel Cell Market is supposed to develop altogether over the estimate period because of a few variables. The development of the Fuel Cell Market is supposed to be driven by key factors like better fuel proficiency and expanded driving reach and quick expansion in speculation and improvement for green hydrogen creation and quick refueling. Be that as it may, factors like high combustibility and difficult to recognize hydrogen spillages are supposed to restrict market development. Then again, the rising demand for fuel-cell vehicles in auto and transportation and fuel-cell vans to be an arising an open door for OEMS present worthwhile open doors for the Worldwide market.

Market Segmentation

Proton-exchange, Membrane Fuel Cell (PEMFC), Solid Oxide Fuel Cell (SOFC), Phosphoric Acid Fuel Cell (PAFC), and Others are among the fuel cell market segments based on electrolyte type. The components segment categorized market into Fuel Processor, Power, Conditioner, Fuel Stack and Humidifiers.

The market is divided into three segments: <100KW, 100-200K, and >200KW, depending on the power outage.

Hydrogen, Methanol, and Other Fuel Types are included in the market segmentation.

The fuel cell market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, construction equipment, and stationary based on the application.

Regional Insights

As far as income, North America held the biggest portion of 37.7% in the Fuel Cell market in 2022 and is supposed to keep up with its strength during the conjecture time frame. Asia Pacific is the biggest market for Fuel Cell. Since it has more monetary establishments than some other, the region has drawn in global financial backers. Nearby players rule the market, bringing about serious passage obstacles.

The Asia-Pacific fuel cell market is supposed to areas of strength for see development before long as huge nations work to change to cleaner energy innovations and construct homegrown fuel cell ventures. Government arrangements and ventures from privately owned businesses and nations set out open doors for the market to expand.

The North American fuel cell market is seeing development, the demand is high and ceaselessly flooding. In the domain of developing electric vehicle demand and deals, for example, as per the information from, the Worldwide Energy Organization (IEA), in 2022, electric vehicle deals in the US flooded by 55%, dominating the worldwide normal, with Battery Electric Vehicles (BEVs) driving the way, encountering a 70% expansion and arriving at almost 800,000 units.

Europe stays at the bleeding edge with regards to maintainable turn of events and the car business. With the deep-rooted car area across the region, the demand for the fuel cell particularly from the flooding car industry is driving the fuel cell market development across the region. Looking for this as an open-door market players like Bosch, and others are money management and teaming up to deliver fuel cell or hydrogen-based vehicles to control the demand pool and gain a strategic advantage in the market. For example, German auto provider Bosch is set to put almost 2.7 billion USD in hydrogen fuel cell innovation somewhere in the range of 2021 and 2026, expecting around 5.4 billion USD in deals by 2030. This venture, 1.1 billion USD more than its past arrangement, mirrors Bosch's obligation to developing with hydrogen.

Major Players

The major players in the market include Air France-KLM, Alaska Airlines, Inc, EasyJet PLC, Jetstar Asia Airways, Singapore Airlines, Emirates, Etihad, AirAsia, IndiGo, Batik Air, China Eastern Airlines, Air India Ltd, and Korean Air.

Product Code: MRFR/E&P/9477-CR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY,
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 BETTER FUEL EFFICIENCY AND INCREASED DRIVING RANGE
- 4.2.2 RAPID INCREASE IN INVESTMENT AND DEVELOPMENT FOR GREEN HYDROGEN PRODUCTION
- 4.2.3 FAST REFUELING
- 4.2.4 REDUCED OIL DEPENDENCY
- 4.2.5 GROWING PRIVATE-PUBLIC PARTNERSHIPS AND REDUCED ENVIRONMENTAL IMPACT ARE EXPECTED TO PROPEL THE DEMAND
4.3 RESTRAINTS
- 4.3.1 HIGH FLAMMABILITY
- 4.3.2 HARD TO DETECT HYDROGEN LEAKAGES
- 4.3.3 HIGH DEVELOPMENT COSTS OF AUTOMOTIVE FUEL CELLS
4.4 OPPORTUNITY
- 4.4.1 RISING DEMAND FOR FUEL-CELL VEHICLES IN AUTOMOTIVE AND TRANSPORTATION
- 4.4.2 FUEL-CELL VANS TO BE AN EMERGING OPPORTUNITY FOR OEMS
- 4.4.3 GOVERNMENT INITIATIVES PROMOTING HYDROGEN INFRASTRUCTURE
4.5 CHALLENGES
- 4.5.1 HIGH VEHICLE COST
- 4.5.2 INSUFFICIENT HYDROGEN INFRASTRUCTURE
- 4.5.3 RISING DEMAND FOR BEVS AND HEVS
4.6 COVID-19 IMPACT ANALYSIS
- 4.6.1 IMPACT ON OVERALL FUEL CELL INDUSTRY
  - 4.6.1.1 ECONOMIC IMPACT
- 4.6.2 IMPACT ON SUPPLY CHAIN OF FUEL CELL
  - 4.6.2.1 PRICE VARIATION OF KEY RAW MATERIALS
  - 4.6.2.2 PRODUCTION SHUTDOWN
  - 4.6.2.3 CASH FLOW CONSTRAINTS
  - 4.6.2.4 IMPACT ON IMPORT/EXPORT
- 4.6.3 IMPACT ON MARKET DEMAND OF FUEL CELL
  - 4.6.3.1 IMPACT DUE TO RESTRICTION/LOCKDOWN
  - 4.6.3.2 CONSUMER SENTIMENTS

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS
- 5.1.1 RAW MATERIAL ACQUISITION
- 5.1.2 COMPONENT MANUFACTURING
- 5.1.3 SYSTEM ASSEMBLY
- 5.1.4 DISTRIBUTION AND LOGISTICS
- 5.1.5 END USERS
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 THREAT OF SUBSTITUTES
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 MARKET SWOT ANALYSIS
5.4 MARKET PESTEL ANALYSIS
- 5.4.1 POLITICAL
- 5.4.2 ECONOMIC
- 5.4.3 SOCIAL
- 5.4.4 TECHNOLOGICAL
- 5.4.5 ENVIRONMENTAL
- 5.4.6 LEGAL
5.5 REGULATORY FRAMEWORK

6 GLOBAL FUEL CELL MARKET, BY COMPONENT

6.1 OVERVIEW
6.2 FUEL PROCESSOR
6.3 POWER CONDITIONER:
6.4 FUEL STACK:
6.5 HUMIDIFIERS:

7 GLOBAL FUEL CELL MARKET, BY ELECTROLYTE TYPE

7.1 INTRODUCTION
7.2 PROTON-EXCHANGE MEMBRANE FUEL CELL (PEMFC)
7.3 SOLID OXIDE FUEL CELL (SOFC)
7.4 PHOSPHORIC ACID FUEL CELL (PAFC)
7.5 OTHERS

8 GLOBAL FUEL CELL MARKET, BY POWER OUTPUT

8.1 INTRODUCTION
8.2 <100KW:
8.3-200K: 66
8.4 >200KW:

9 GLOBAL FUEL CELL MARKET, BY FUEL TYPE

9.1 INTRODUCTION
9.2 HYDROGEN:
9.3 METHANOL:
9.4 OTHERS:

10 GLOBAL FUEL CELL MARKET, BY APPLICATION

10.1 INTRODUCTION
10.2 PASSENGER CAR:
10.3 LIGHT COMMERCIAL VEHICLE:
10.4 HEAVY COMMERCIAL VEHICLE:
10.5 CONSTRUCTION EQUIPMENT
10.6 STATIONARY

11 GLOBAL FUEL CELL MARKET, BY REGION

11.1 OVERVIEW
- 11.1.1 GLOBAL FUEL CELL MARKET, BY REGION, VS 2032 (USD MILLION) 72
- 11.1.2 GLOBAL FUEL CELL MARKET, BY REGION,-2032 (USD MILLION) 73
11.2 NORTH AMERICA
- 11.2.1 US
- 11.2.2 CANADA
- 11.2.3 MEXICO
11.3 EUROPE
- 11.3.1 EUROPE
- 11.3.2 GERMANY
- 11.3.3 UK
- 11.3.4 FRANCE
- 11.3.5 SPAIN
- 11.3.6 ITALY
- 11.3.7 NETHERLANDS
- 11.3.8 POLAND
- 11.3.9 DENMARK
- 11.3.10 NORWAY
- 11.3.11 REST OF EUROPE
11.4 ASIA-PACIFIC
- 11.4.1 ASIA PACIFIC
- 11.4.2 CHINA
- 11.4.3 INDIA
- 11.4.4 JAPAN
- 11.4.5 SOUTH KOREA
- 11.4.6 MALAYSIA
- 11.4.7 AUSTRALIA
- 11.4.8 REST OF ASIA-PACIFIC
11.5 MIDDLE EAST & AFRICA
- 11.5.1 MIDDLE EAST & AFRICA
- 11.5.2 SAUDI ARABIA
- 11.5.3 UAE
- 11.5.4 SOUTH AFRICA
- 11.5.5 REST OF MIDDLE EAST & AFRICA
11.6 SOUTH AMERICA
- 11.6.1 BRAZIL
- 11.6.2 ARGENTINA
- 11.6.3 REST OF SOUTH AMERICA

12 COMPETITIVE LANDSCAPE

12.1 INTRODUCTION
12.2 MARKET SHARE ANALYSIS, 139
12.3 COMPETITOR DASHBOARD
- 12.3.1 LIST OF PEM-FC CUSTOMER IN EUROPE
- 12.3.2 PARTNERSHIP/COLLBORATION
- 12.3.3 PRODUCT DEVELOPMENT/NEW PRODUCT
- 12.3.4 AGREEMENT/CONTRACT/ACQUISITION

13 COMPANY PROFILES

13.1 BALLARD POWER SYSTEMS
- 13.1.1 COMPANY OVERVIEW
- 13.1.2 FINANCIAL OVERVIEW
- 13.1.3 PRODUCTS OFFERED
- 13.1.4 KEY DEVELOPMENTS
- 13.1.5 SWOT ANALYSIS
- 13.1.6 KEY STRATEGIES
13.2 PLUG POWER INC.
- 13.2.1 COMPANY OVERVIEW
- 13.2.2 FINANCIAL OVERVIEW
- 13.2.3 PRODUCTS OFFERED
- 13.2.4 KEY DEVELOPMENTS
- 13.2.5 SWOT ANALYSIS
- 13.2.6 KEY STRATEGIES
13.3 NEDSTACK FUEL CELL TECHNOLOGY BV
- 13.3.1 COMPANY OVERVIEW
- 13.3.2 FINANCIAL OVERVIEW
- 13.3.3 PRODUCTS OFFERED
- 13.3.4 KEY DEVELOPMENTS
- 13.3.5 SWOT ANALYSIS
- 13.3.6 KEY STRATEGIES
13.4 TOYOTA MOTOR CORPORATION
- 13.4.1 COMPANY OVERVIEW
- 13.4.2 FINANCIAL OVERVIEW
- 13.4.3 PRODUCTS OFFERED
- 13.4.4 KEY DEVELOPMENTS
- 13.4.5 SWOT ANALYSIS
- 13.4.6 KEY STRATEGIES
13.5 HYUNDAI MOTOR GROUP
- 13.5.1 COMPANY OVERVIEW
- 13.5.2 FINANCIAL OVERVIEW
- 13.5.3 PRODUCTS OFFERED
- 13.5.4 KEY DEVELOPMENTS
- 13.5.5 SWOT ANALYSIS
- 13.5.6 KEY STRATEGIES
13.6 HYSTER-YALE MATERIALS HANDLING, INC.
- 13.6.1 COMPANY OVERVIEW
- 13.6.2 FINANCIAL OVERVIEW
- 13.6.3 PRODUCTS OFFERED
- 13.6.4 KEY DEVELOPMENTS
- 13.6.5 SWOT ANALYSIS
- 13.6.6 KEY STRATEGIES
13.7 AIR LIQUIDE ENERGIES
- 13.7.1 COMPANY OVERVIEW
- 13.7.2 FINANCIAL OVERVIEW
- 13.7.3 PRODUCTS OFFERED
- 13.7.4 KEY DEVELOPMENTS
- 13.7.5 SWOT ANALYSIS
- 13.7.6 KEY STRATEGIES
13.8 CUMMINS INC.
- 13.8.1 COMPANY OVERVIEW
- 13.8.2 FINANCIAL OVERVIEW
- 13.8.3 PRODUCTS OFFERED
- 13.8.4 KEY DEVELOPMENTS
- 13.8.5 SWOT ANALYSIS
- 13.8.6 KEY STRATEGIES
13.9 DOOSAN FUEL CELL CO., LTD.
- 13.9.1 COMPANY OVERVIEW
- 13.9.2 FINANCIAL OVERVIEW
- 13.9.3 PRODUCTS OFFERED
- 13.9.4 KEY DEVELOPMENTS
- 13.9.5 SWOT ANALYSIS
- 13.9.6 KEY STRATEGIES
13.10 BORGWARNER INC.
- 13.10.1 COMPANY OVERVIEW
- 13.10.2 FINANCIAL OVERVIEW
- 13.10.3 PRODUCTS OFFERED
- 13.10.4 KEY DEVELOPMENTS
- 13.10.5 SWOT ANALYSIS
- 13.10.6 KEY STRATEGIES
13.11 OORJA CORPORATION
- 13.11.1 COMPANY OVERVIEW
- 13.11.2 FINANCIAL OVERVIEW
- 13.11.3 PRODUCTS OFFERED
- 13.11.4 KEY DEVELOPMENTS
- 13.11.5 SWOT ANALYSIS
- 13.11.6 KEY STRATEGIES
13.12 SFC ENERGY AG
- 13.12.1 COMPANY OVERVIEW
- 13.12.2 FINANCIAL OVERVIEW
- 13.12.3 PRODUCTS OFFERED
- 13.12.4 KEY DEVELOPMENTS
- 13.12.5 SWOT ANALYSIS
- 13.12.6 KEY STRATEGIES
13.13 WATT FUEL CELL
- 13.13.1 COMPANY OVERVIEW
- 13.13.2 FINANCIAL OVERVIEW
- 13.13.3 PRODUCTS OFFERED
- 13.13.4 KEY DEVELOPMENTS
- 13.13.5 SWOT ANALYSIS
- 13.13.6 KEY STRATEGIES
13.14 ALTERGY
- 13.14.1 COMPANY OVERVIEW
- 13.14.2 FINANCIAL OVERVIEW
- 13.14.3 PRODUCTS OFFERED
- 13.14.4 KEY DEVELOPMENTS
- 13.14.5 SWOT ANALYSIS
- 13.14.6 KEY STRATEGIES
13.15 HONDA MOTOR COMPANY, LTD
- 13.15.1 COMPANY OVERVIEW
- 13.15.2 FINANCIAL OVERVIEW
- 13.15.3 PRODUCTS OFFERED
- 13.15.4 KEY DEVELOPMENTS
- 13.15.5 SWOT ANALYSIS
- 13.15.6 KEY STRATEGIES

14 DATA CITATIONS