Global Hydrogen Fuel Cells Market, By Type (Polymer Electrolyte Membrane Fuel Cell (PEMFC), Direct Methanol Fuel Cells (DMFC), Solid Oxide Fuel Cells (SOFC), Others (Alkaline Fuel Cells, Phosphoric Acid Fuel Cells)), By Application (Portable, Stationary, Transport), and opportunities and forecast 2020-2027
Hydrogen Fuel Cells Market Overview
The global Hydrogen Fuel Cells market has been expanding at a stellar pace in recent times due to the infrastructural developments in the field of hydrogen production. The growing adoption of electric and hybrid vehicles has also increased the demand for hydrogen fuel cells, worldwide, reflecting positively on the growth of the global Hydrogen Fuel Cells market.
Furthermore, an increase in the number of funding from the government and other organizations for the development and commercialization of the refueling infrastructure, globally, is anticipated to intensifies the growth of the global hydrogen fuel cells market over the forthcoming years. In addition to this, governments particularly in developed countries have encouraged the use of clean and green energy, this key fact further supports market development. Again, the rising concern about environmental pollution across the globe is another factor enhancing the demand for hydrogen fuel cells. Thus, the awareness level concerning hydrogen cells has increased, which helping to boost the growth of the global Hydrogen Fuel Cells market steadily.
On the contrary, a lack of infrastructure for fuel cells, the high cost of switching the technology, and reduced hydrogen refilling stations, and the high initial cost related to the adoption of this technology, are some factors that restrict the growth of the global Hydrogen Fuel Cells market.
Report Metric
Details
Market size available for years
2019–2027
Base year considered
2019
Forecast period
2020–2027
Forecast unit
Value (USD Million)
Segments covered
Type, Application, and Region
Regions covered
North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
Companies covered
SFC Energy AG, Plug Power Inc., Panasonic Corporation, AFC Energy PLC, Hydrogenics, Nedstack Fuel Cells Technology B.V., ClearEdge Power, and Toshiba Corporation.
Covid-19 Impact on Hydrogen Fuel Cells Market
As around one-third of the global population is staying indoors owing to nationwide lockdown, stay-at-home orders, and restrictions on movement, the energy demand has sharply dipped. By the end of 2020, approximately, a decline in 5% of the energy demand was been recorded. Also, waning in corresponding gas and oil demands of 4% and 9%, respectively were registered in 2020. Currently, the energy market is at a historic low with surplus supplies. However, the situation is expected to ease up with a lift in lockdown restrictions and end-use industries start operating with great efficiencies.
Hydrogen Fuel Cells Market Segment Overview
Based on the Type, the Polymer Electrolyte Membrane Fuel Cell (PEMFC) is the most prominent segment in the global Hydrogen Fuel Cells market. Polymer electrolyte membrane fuel cells (PEMFC) are regarded as a viable fuel cell technology alternative with extensive applications, such as stationary power plants and portable power sources. Additionally, PEMFC technology is one of a portfolio of alternative methods for delivering energy that currently is under aggressive development by academic, governmental, and industrial organizations. Furthermore, the Direct Methanol Fuel Cells (DMFC) is another key segment in the market. Direct methanol fuel cell (DMFC) is considered as a promising power source for the next-generation portable electronics, owing to its characteristics such as a high energy density, green emission, convenient refueling of liquid fuel, and ambient operation conditions
Hydrogen Fuel Cells Market, By Application · Portable · Stationary · Transport
Hydrogen Fuel Cells Market Regional Overview
In terms of region, North America is anticipated to lead the global Hydrogen Fuel Cells market over the forecast period. The growing awareness about the several benefits that it offers is boosting its demand in North America. Europe is another major region for the global Hydrogen Fuel Cells market. Similarly, the market in the Asia Pacific is expected to expand at a significant CAGR in the coming years. The increasing use of hydrogen fuel cells in South Korea and Japan in hybrid cars and strict environmental rules are behind the growth of this market. In addition, subsidies on the purchase of hybrid vehicles are one of the crucial factors that propel the growth of the market in these regions.
Hydrogen Fuel Cells Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Hydrogen Fuel Cells Market Competitor overview
Some key developments and strategies adopted by manufacturers in Hydrogen Fuel Cells are highlighted below.
· In September 2021, Bloom Energy announced the commercial availability of its Hydrogen Energy Servers — 100 percent hydrogen-powered fuel cells that deliver on-site, 24/7, zero-carbon electricity — all in a simple, modular, and flexible design.
· In September 2021, TECO 2030 has been granted up to 5.4m Norwegian kroner ($628,000) in indirect government support to develop its first semi-automated production line for hydrogen fuel cells at its new fuel cell factory and innovation center in northern Norway.
Hydrogen Fuel Cells Market, Key Players
· SFC Energy AG · Plug Power Inc. · Panasonic Corporation · AFC Energy PLC · Hydrogenics · Nedstack Fuel Cells Technology B.V. · ClearEdge Power · Toshiba Corporation
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Hydrogen Fuel Cells market?
A. The infrastructural developments in the field of hydrogen production, the growing adoption of electric and hybrid vehicles, and encouragement of the use of clean and green energy are significant factors that boost the growth of the Hydrogen Fuel Cells market.
Q2. What are the restraining factors for the Hydrogen Fuel Cells market?
A. - A lack of infrastructure for fuel cells, high cost of switching the technology, and reduced hydrogen refilling stations, and the high initial cost related to the adoption of this technology, these are the major factor that restrains the growth of the global Hydrogen Fuel Cells market.
Q3. Which segment is projected to hold the largest share in the Hydrogen Fuel Cells Market?
A. The Polymer Electrolyte Membrane Fuel Cell (PEMFC) segment is projected to hold the largest share in the Hydrogen Fuel Cells Market.
Q4. Which Segments are covered in the Hydrogen Fuel Cells market report?
A. Type, Application, and Region, these segments are covered in the Hydrogen Fuel Cells market report.
Q5. Which are the prominent players offering Hydrogen Fuel Cells?
A. SFC Energy AG, Plug Power Inc., Panasonic Corporation, AFC Energy PLC, Hydrogenics, Nedstack Fuel Cells Technology B.V., ClearEdge Power, and Toshiba Corporation. are some of the key players offering Hydrogen Fuel Cells.
Hydrogen Fuel Cells Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Global Hydrogen Fuel Cells Market Analysis (USD Billion), Insights and Forecast, 2020-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
9.3. Market Analysis, Insights and Forecast – By Application
9.3.1. Portable
9.3.2. Stationary
9.3.3. Transport
9.4. Market Analysis, Insights and Forecast – By Country
9.4.1. Brazil
9.4.2. Saudi Arabia
9.4.3. UAE
9.4.4. Rest of LAMEA
10. Competitive Analysis
10.1. Company Market Share Analysis, 2018
10.2. Key Industry Developments
10.3. Company Profile
10.4. SFC Energy AG
10.4.1. Business Overview
10.4.2. Segment 1 & Service Offering
10.4.3. Overall Revenue
10.4.4. Geographic Presence
10.4.5. Recent Development
*Similar details will be provided for the following companies
10.5. Plug Power Inc.
10.6. Panasonic Corporation
10.7. AFC Energy PLC
10.8. Hydrogenics
10.9. Nedstack Fuel Cells Technology B.V.
10.10. ClearEdge Power
List of Figures
Figure 1: Global Hydrogen and Fuel Cells Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Hydrogen and Fuel Cells Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Hydrogen and Fuel Cells Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Hydrogen and Fuel Cells Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Hydrogen and Fuel Cells Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Hydrogen and Fuel Cells Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Hydrogen and Fuel Cells Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Hydrogen and Fuel Cells Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Hydrogen and Fuel Cells Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Hydrogen and Fuel Cells Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Hydrogen and Fuel Cells Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Hydrogen and Fuel Cells Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Hydrogen and Fuel Cells Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Hydrogen and Fuel Cells Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Hydrogen and Fuel Cells Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Hydrogen and Fuel Cells Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Hydrogen and Fuel Cells Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Hydrogen and Fuel Cells Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Hydrogen and Fuel Cells Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Hydrogen and Fuel Cells Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Hydrogen and Fuel Cells Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Hydrogen and Fuel Cells Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Hydrogen and Fuel Cells Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Hydrogen and Fuel Cells Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Hydrogen and Fuel Cells Market Revenue (USD Billion) Forecast, by Country, 2016-2027
