Executive Summary

The Global Fuel Cell Market, valued at USD 5824.25 Million in the year 2019 has been witnessing unprecedented growth in the last few years on the back of growing demand for efficient and cleaner technologies, increasing demand of electric vehicle and growing demand of sustainable energy source. The market for Fuel Cell is expected to grow significantly during the subsequent years owing to burgeoning demand for efficient and cleaner technologies, increasing demand of Electric Vehicle and rising demand of sustainable energy source. Also, the fuel cell market is expected to grow with a CAGR of 25.8% in terms of value during the forecast period, mostly on the back of reduction of noise and air pollution, digitization and reduction of Carbon dioxide. Additionally, growing preference of hydrogen-based fuel cells will drive the Fuel Cell market value in the near future. The fuel cell industry is a fragmented industry with the presence of diverse sizes of firms positioned in different set of applications and technologies.

Among the Type of the Fuel Cell market (PEMFC, DMFC, SOFC and Others), PEMFC is very popular globally and is expected to keep growing in the forecast period. The demand of PEMFC among automotive sector users will keep increasing in future.

Among the Application of the Fuel Cell market (Transport, Portable and Stationary), Stationary has been gaining popularity globally for Fuel Cell Applications and is expected to keep growing in the forecast period. The demand of Stationary in Fuel Cell is due to its use as primary power sources, and it will keep growing at rapid pace.

Among the End User in the Fuel Cell market (Fuel Cell Vehicle, Utilities and Defense), Fuel Cell Vehicle End User has been gaining popularity globally and is expected to keep growing in the forecast period. The increasing demand of Electric Vehicle will drive market.

The APAC market is expected to lead the global market throughout the forecast period. The increasing support from government and demand of clean and sustainable energy source in APAC countries are expected to infuse market growth tremendously.

Scope of the Report

• The report analyses the Fuel Cell market by Value.
• The report analyses the Fuel Cell market by Volume.
• The report analyses the Fuel Cell Market by Type (PEMFC, DMFC, SOF, Others).
• The report analyses the Fuel Cell Market by Application (Transport, Portable, Stationary).
• The report analyses the Fuel Cell Market by End User (Fuel Cell Vehicle, Utilities, Defense).
• The Global Fuel Cell Market has been analysed By Region (Americas, Europe and Asia Pacific) and By Country (United States, Brazil, Canada, Mexico, Germany, France, United Kingdom, China, Japan, South Korea).
• The attractiveness of the market has been presented by region, by Type, by Application and By End User. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Ballard Power System, Bloom Energy, Plug Power, Fuel Cell Energy, SFC Energy, Powercell, ITM Power, Toshiba, Aisin Seiki Co Ltd., Hydrogenics and AFC Energy.
• The report analyses the impact of Covid-19 on Fuel Cell market.
• The report presents the analysis of Fuel Cell market for the historical period of 2015-2019 and the forecast period of 2020-2025.

Key Target Audience

• Fuel Cell Vendors
• EV Manufacturers
• Consulting and Advisory Firms
• Government and Policy Makers
• Investment Banks and Equity Firms