Fuel Cell Market Report: Trends, Forecast and Competitive Analysis to 2030

Fuel Cell Trends and Forecast

The future of the global fuel cell market looks promising with opportunities in the stationary, transportation, and portable markets. The global fuel cell market is expected to reach an estimated $13.4 billion by 2030 with a CAGR of 25.3% from 2024 to 2030. The major drivers for this market are increased demand for fuel cell car, advances in fuel cell research and development, as well as government rebates, and strict pollution standards to increase the demand for sustainable energy sources.

A more than 150-page report is developed to help in your business decisions.

Fuel Cell by Segment

The study includes a forecast for the global fuel cell by product, application, and region.

Fuel Cell Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• PEMFC
• PAFC
• SOFC
• MCFC
• Others

Fuel Cell Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Stationary
• Transportation
• Portable

Fuel Cell Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Fuel Cell Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies fuel cell companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the fuel cell companies profiled in this report include-

• Fuelcell Energy
• Ballard Power
• Hydrogenics
• SFC Energy
• Nedstack Fuel Cell Technology
• Bloom Energy
• Doosan Fuel Cell America
• Ceres Power Holdings
• Plug Power
• Nuvera Fuel Cells

Fuel Cell Market Insights

Lucintel forecasts that PEMFC will remain the largest segment over the forecast period due to growing need for the production of clean power, as well as, it offers different advantages, such as improved reliability, high operational efficiency, low operational cost, less maintenance time, and others.

North America will remain the largest region over the forecast period due to the presence of favorable laws in the North American area aimed at reducing carbon emissions, as well as, the availability of funding for fuel cell R&D programs.

Features of the Global Fuel Cell Market

Market Size Estimates: Fuel cell market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Fuel cell market size by product, application, and region in terms of value ($B).

Regional Analysis: Fuel cell market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product, application, and regions for the fuel cell market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the fuel cell market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the fuel cell market size?

Answer: The global fuel cell market is expected to reach an estimated $13.4 billion by 2030.

Q2. What is the growth forecast for fuel cell market?

Answer: The global fuel cell market is expected to grow with a CAGR of 25.3% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the fuel cell market?

Answer: The major drivers for this market are increased demand for fuel cell car, advances in fuel cell research and development, as well as government rebates, and strict pollution standards to increase the demand for sustainable energy sources.

Q4. What are the major segments for fuel cell market?

Answer: The future of the global fuel cell market looks promising with opportunities in the stationary, transportation, and portable markets.

Q5. Who are the key fuel cell market companies?

Answer: Some of the key fuel cell companies are as follows:

• Fuelcell Energy
• Ballard Power
• Hydrogenics
• SFC Energy
• Nedstack Fuel Cell Technology
• Bloom Energy
• Doosan Fuel Cell America
• Ceres Power Holdings
• Plug Power
• Nuvera Fuel Cells

Q6. Which fuel cell market segment will be the largest in future?

Answer: Lucintel forecasts that PEMFC will remain the largest segment over the forecast period due to growing need for the production of clean power, as well as, it offers different advantages, such as improved reliability, high operational efficiency, low operational cost, less maintenance time, and others.

Q7. In fuel cell market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the presence of favorable laws in the North American area aimed at reducing carbon emissions, as well as, the availability of funding for fuel cell R&D programs.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the fuel cell market by product (PEMFC, PAFC, SOFC, MCFC, and others), application (stationary, transportation, and portable), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?