PUBLISHER: BCC Research | PRODUCT CODE: 1069936
PUBLISHER: BCC Research | PRODUCT CODE: 1069936
The global market for hydrogen fuel cells reached $6.6 billion in 2021. The market should grow from $7.5 billion in 2022 to $19.5 billion by 2027, at a compound annual growth rate (CAGR) of 21.0% during 2022-2027.
The global market for hydrogen fuel cells in stationary applications should grow from $5.5 billion in 2022 to $13.5 billion by 2027, at a CAGR of 19.6% during 2022-2027.
The global market for hydrogen fuel cells in transport applications should grow from $1.1 billion in 2022 to $4.5 billion by 2027, at a CAGR of 31.6% during 2022-2027.
This report covers fuel cells used in stationary power generation and storage applications along with mobility applications. Other applications primarily include fuel cell electrolyzers. These electrolyzers use electricity as input and produce hydrogen as an output. Thus, they are not considered in the study.
Definitive and detailed estimates and forecasts of the global market are provided. The report also contains a detailed analysis of the key fuel cell types, regions, countries, applications, and ongoing trends in the market.
The fuel cell market is segmented based on a) type of fuel cell and b) application. Solid oxide fuel cells and proton exchange membrane fuel cells (PEMFC) are the major types in the fuel cell market. The applications considered in this study are combined heating and power (CHP), stationary power supply units, auxiliary power units (APU), and vehicle propulsion systems.