What is the market size for the fuel cell?

The Market is expected to grow by $ 28439.1 mn in 2025-2029. <a href='https://www.technavio.com/report/fuel-cell-market-industry-analysis'>Read More</a>

What is the CAGR for the fuel cell?

28.9% CAGR with $ 28439.1 mn Momentum. <a href='https://www.technavio.com/report/fuel-cell-market-industry-analysis'>Read More</a>

What is the growth rate of the Fuel Cell market?

28.9% is the estimation year on year growth rate. <a href='https://www.technavio.com/report/fuel-cell-market-industry-analysis'>Read More</a>

Which region held the largest market share in the Fuel Cell market?

North America with 35% of the market growth. <a href='https://www.technavio.com/report/fuel-cell-market-industry-analysis'>Read More</a>

Who are the prominent players in the Fuel Cell market?

Ballard Power Systems Inc., Bloom Energy Corp., Ceres Power Holdings plc, Doosan Corp., FuelCell Energy Inc., Fuji Electric Co. Ltd., General Motors Co., Honda Motor .... <a href='https://www.technavio.com/report/fuel-cell-market-industry-analysis'>Read More</a>

Fuel Cell Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, Japan, India, Germany, Canada, UK, South Korea, France, China, Italy - Size and Forecast 2025-2029

Published: Jan 2025
Pages: 209
SKU: IRTNTR43911

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Fuel Cell Market Size 2025-2029

The fuel cell market size is forecast to increase by USD 28.44 billion at a CAGR of 28.9% between 2024 and 2029.

The market is experiencing significant growth due to the increasing demand for efficient and clean energy sources. This trend is driven by the rising awareness of environmental concerns and the need to reduce greenhouse gas emissions. Additionally, increasing research and development activities are leading to advancements in fuel cell technology, making them more cost-effective and efficient. However, the high cost of fuel cells remains a challenge for market growth. Despite this, the market is expected to continue expanding as governments and businesses invest in renewable energy solutions and hydrogen infrastructure development. The market analysis report provides a comprehensive overview of these trends and challenges, offering valuable insights for stakeholders in the fuel cell industry.

What will be the Size of the Market During the Forecast Period?

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1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Product
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation

2.3 Factors of disruption
- Overview on factors of disruption

2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market

3.2 Market characteristics
- Market characteristics analysis

3.3 Value chain analysis
- Value chain analysis

4 Market Sizing

4.1 Market definition
- Offerings of companies included in the market definition

4.2 Market segment analysis
- Market segments

4.3 Market size 2024

4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ million)
- Data Table on Global - Market size and forecast 2024-2029 ($ million)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

5.1 Global Fuel Cell Market 2019 - 2023
- Historic Market Size - Data Table on Global Fuel Cell Market 2019 - 2023 ($ million)

5.2 Product segment analysis 2019 - 2023
- Historic Market Size - Product Segment 2019 - 2023 ($ million)

5.3 Application segment analysis 2019 - 2023
- Historic Market Size - Application Segment 2019 - 2023 ($ million)

5.4 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ million)

5.5 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ million)

6 Qualitative Analysis

6.1 Impact of AI on the Global Fuel Cell Market

7 Five Forces Analysis

7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029

7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029

7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029

7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029

7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029

7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029

7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029

8 Market Segmentation by Product

8.1 Market segments
- Chart on Product - Market share 2024-2029 (%)
- Data Table on Product - Market share 2024-2029 (%)

8.2 Comparison by Product
- Chart on Comparison by Product
- Data Table on Comparison by Product

8.3 PEMFC - Market size and forecast 2024-2029
- Chart on PEMFC - Market size and forecast 2024-2029 ($ million)
- Data Table on PEMFC - Market size and forecast 2024-2029 ($ million)
- Chart on PEMFC - Year-over-year growth 2024-2029 (%)
- Data Table on PEMFC - Year-over-year growth 2024-2029 (%)

8.4 PAFC - Market size and forecast 2024-2029
- Chart on PAFC - Market size and forecast 2024-2029 ($ million)
- Data Table on PAFC - Market size and forecast 2024-2029 ($ million)
- Chart on PAFC - Year-over-year growth 2024-2029 (%)
- Data Table on PAFC - Year-over-year growth 2024-2029 (%)

8.5 SOFC - Market size and forecast 2024-2029
- Chart on SOFC - Market size and forecast 2024-2029 ($ million)
- Data Table on SOFC - Market size and forecast 2024-2029 ($ million)
- Chart on SOFC - Year-over-year growth 2024-2029 (%)
- Data Table on SOFC - Year-over-year growth 2024-2029 (%)

8.6 Others - Market size and forecast 2024-2029
- Chart on Others - Market size and forecast 2024-2029 ($ million)
- Data Table on Others - Market size and forecast 2024-2029 ($ million)
- Chart on Others - Year-over-year growth 2024-2029 (%)
- Data Table on Others - Year-over-year growth 2024-2029 (%)

8.7 Market opportunity by Product
- Market opportunity by Product ($ million)
- Data Table on Market opportunity by Product ($ million)

9 Market Segmentation by Application

9.1 Market segments
- Chart on Application - Market share 2024-2029 (%)
- Data Table on Application - Market share 2024-2029 (%)

9.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application

9.3 Transport - Market size and forecast 2024-2029
- Chart on Transport - Market size and forecast 2024-2029 ($ million)
- Data Table on Transport - Market size and forecast 2024-2029 ($ million)
- Chart on Transport - Year-over-year growth 2024-2029 (%)
- Data Table on Transport - Year-over-year growth 2024-2029 (%)

9.4 Stationary - Market size and forecast 2024-2029
- Chart on Stationary - Market size and forecast 2024-2029 ($ million)
- Data Table on Stationary - Market size and forecast 2024-2029 ($ million)
- Chart on Stationary - Year-over-year growth 2024-2029 (%)
- Data Table on Stationary - Year-over-year growth 2024-2029 (%)

9.5 Portable - Market size and forecast 2024-2029
- Chart on Portable - Market size and forecast 2024-2029 ($ million)
- Data Table on Portable - Market size and forecast 2024-2029 ($ million)
- Chart on Portable - Year-over-year growth 2024-2029 (%)
- Data Table on Portable - Year-over-year growth 2024-2029 (%)

9.6 Market opportunity by Application
- Market opportunity by Application ($ million)
- Data Table on Market opportunity by Application ($ million)

10 Customer Landscape

10.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

11 Geographic Landscape

11.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)

11.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison

11.3 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ million)
- Data Table on North America - Market size and forecast 2024-2029 ($ million)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)

11.4 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ million)
- Data Table on Europe - Market size and forecast 2024-2029 ($ million)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)

11.5 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ million)
- Data Table on APAC - Market size and forecast 2024-2029 ($ million)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)

11.6 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)

11.7 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ million)
- Data Table on South America - Market size and forecast 2024-2029 ($ million)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)

11.8 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ million)
- Data Table on US - Market size and forecast 2024-2029 ($ million)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)

11.9 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ million)
- Data Table on Japan - Market size and forecast 2024-2029 ($ million)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)

11.10 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ million)
- Data Table on India - Market size and forecast 2024-2029 ($ million)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)

11.11 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ million)
- Data Table on Germany - Market size and forecast 2024-2029 ($ million)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)

11.12 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ million)
- Data Table on Canada - Market size and forecast 2024-2029 ($ million)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)

11.13 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ million)
- Data Table on UK - Market size and forecast 2024-2029 ($ million)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)

11.14 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ million)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ million)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)

11.15 France - Market size and forecast 2024-2029
- Chart on France - Market size and forecast 2024-2029 ($ million)
- Data Table on France - Market size and forecast 2024-2029 ($ million)
- Chart on France - Year-over-year growth 2024-2029 (%)
- Data Table on France - Year-over-year growth 2024-2029 (%)

11.16 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ million)
- Data Table on China - Market size and forecast 2024-2029 ($ million)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)

11.17 Italy - Market size and forecast 2024-2029
- Chart on Italy - Market size and forecast 2024-2029 ($ million)
- Data Table on Italy - Market size and forecast 2024-2029 ($ million)
- Chart on Italy - Year-over-year growth 2024-2029 (%)
- Data Table on Italy - Year-over-year growth 2024-2029 (%)

11.18 Market opportunity by geography
- Market opportunity by geography ($ million)
- Data Tables on Market opportunity by geography ($ million)

12 Drivers, Challenges, and Opportunity/Restraints

12.1 Market drivers

12.2 Market challenges

12.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029

12.4 Market opportunities/restraints

13 Competitive Landscape

13.1 Overview

13.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation

13.3 Landscape disruption
- Overview on factors of disruption

13.4 Industry risks
- Impact of key risks on business

14 Competitive Analysis

14.1 Companies profiled
- Companies covered

14.2 Company ranking index
- Company ranking index

14.3 Market positioning of companies
- Matrix on companies position and classification

14.4 Ballard Power Systems Inc.
- Ballard Power Systems Inc. - Overview
- Ballard Power Systems Inc. - Product / Service
- Ballard Power Systems Inc. - Key offerings
- SWOT

14.5 Bloom Energy Corp.
- Bloom Energy Corp. - Overview
- Bloom Energy Corp. - Product / Service
- Bloom Energy Corp. - Key offerings
- SWOT

14.6 Ceres Power Holdings plc
- Ceres Power Holdings plc - Overview
- Ceres Power Holdings plc - Business segments
- Ceres Power Holdings plc - Key offerings
- Ceres Power Holdings plc - Segment focus
- SWOT

14.7 Doosan Corp.
- Doosan Corp. - Overview
- Doosan Corp. - Business segments
- Doosan Corp. - Key news
- Doosan Corp. - Key offerings
- Doosan Corp. - Segment focus
- SWOT

14.8 FuelCell Energy Inc.
- FuelCell Energy Inc. - Overview
- FuelCell Energy Inc. - Product / Service
- FuelCell Energy Inc. - Key offerings
- SWOT

14.9 Fuji Electric Co. Ltd.
- Fuji Electric Co. Ltd. - Overview
- Fuji Electric Co. Ltd. - Business segments
- Fuji Electric Co. Ltd. - Key news
- Fuji Electric Co. Ltd. - Key offerings
- Fuji Electric Co. Ltd. - Segment focus
- SWOT

14.10 General Motors Co.
- General Motors Co. - Overview
- General Motors Co. - Business segments
- General Motors Co. - Key news
- General Motors Co. - Key offerings
- General Motors Co. - Segment focus
- SWOT

14.11 Honda Motor Co. Ltd.
- Honda Motor Co. Ltd. - Overview
- Honda Motor Co. Ltd. - Business segments
- Honda Motor Co. Ltd. - Key news
- Honda Motor Co. Ltd. - Key offerings
- Honda Motor Co. Ltd. - Segment focus
- SWOT

14.12 Hyundai Motor Co.
- Hyundai Motor Co. - Overview
- Hyundai Motor Co. - Business segments
- Hyundai Motor Co. - Key news
- Hyundai Motor Co. - Key offerings
- Hyundai Motor Co. - Segment focus
- SWOT

14.13 Mitsubishi Heavy Industries Ltd.
- Mitsubishi Heavy Industries Ltd. - Overview
- Mitsubishi Heavy Industries Ltd. - Business segments
- Mitsubishi Heavy Industries Ltd. - Key news
- Mitsubishi Heavy Industries Ltd. - Key offerings
- Mitsubishi Heavy Industries Ltd. - Segment focus
- SWOT

14.14 Niterra Co. Ltd.
- Niterra Co. Ltd. - Overview
- Niterra Co. Ltd. - Business segments
- Niterra Co. Ltd. - Key offerings
- Niterra Co. Ltd. - Segment focus
- SWOT

14.15 Panasonic Holdings Corp.
- Panasonic Holdings Corp. - Overview
- Panasonic Holdings Corp. - Product / Service
- Panasonic Holdings Corp. - Key news
- Panasonic Holdings Corp. - Key offerings
- SWOT

14.16 Plug Power Inc.
- Plug Power Inc. - Overview
- Plug Power Inc. - Product / Service
- Plug Power Inc. - Key offerings
- SWOT

14.17 PowerCell Sweden AB
- PowerCell Sweden AB - Overview
- PowerCell Sweden AB - Product / Service
- PowerCell Sweden AB - Key offerings
- SWOT

14.18 SFC Energy AG
- SFC Energy AG - Overview
- SFC Energy AG - Business segments
- SFC Energy AG - Key news
- SFC Energy AG - Key offerings
- SFC Energy AG - Segment focus
- SWOT

15 Appendix

15.1 Scope of the report

15.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist

15.3 Currency conversion rates for US$
- Currency conversion rates for US$

15.4 Research methodology
- Research methodology

15.5 Data procurement
- Information sources

15.6 Data validation
- Data validation

15.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing

15.8 Data synthesis
- Data synthesis

15.9 360 degree market analysis
- 360 degree market analysis

15.10 List of abbreviations
- List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES