Global Fuel Cell Market Size, Industry Trends, Share And Forecast 2019-2025

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Global Fuel Cell Market Size, Industry Trends, Share and Forecast 2019-2025

The global fuel cell market is estimated to witness potential growth during the forecast period. Favorable government initiatives for the adoption of fuel cell technology is offering enormous opportunity for the growth of the market. The government and several private sector companies are working to leverage their commitments to fuel cells and hydrogen, to strengthen its energy infrastructure. As per the Fuel Cell & Hydrogen Energy Association (FCHEA), in Japan, in 2018, nearly 265,000 ENE-FARM residential fuel cells, have been deployed for residential application.  By 2030, Japan plans to install 5.3 million of such residential fuel cell units. 

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With this initiative, the government aims to move towards a self-sustaining energy future. In the transportation sector, fuel cell and hydrogen have also flourished in Japan with government initiatives and industry innovation and; by 2018, over 2,800 fuel cell vehicles (FCVs) were on the roads, led by Toyota and Honda.  The industrial application of fuel cells has also continued to emerge, with 100 forklifts powered by fuel cell operating in Japan in 2018. In January 2018, Japan’s Ministerial Council on Renewable Energy, Hydrogen and Related Issues exposed a novel strategy, that enables Japan to move towards the global path to a carbon-free society.  

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Global Fuel Cell Market Segmentation

By Type

  •         Polymer Electrolyte Membrane Fuel Cell (PEMFC) 
  •         Solid Oxide Fuel Cell (SOFC)
  •         Molten Carbonate Fuel Cell (MCFC)
  •         Phosphoric Acid Fuel Cell (PAFC)
  •         Others (Alkaline Fuel Cell (AFC) and Direct Methanol Fuel Cell (DMFC))

By Application

  •         Stationary
  •         Portable
  •         Transportation

Regional Analysis

North America

  •         United States
  •         Canada

Europe

  •         UK
  •         Germany
  •         Italy
  •         Spain
  •         France
  •         Rest of Europe

Asia-Pacific

  •         China
  •         India
  •         Japan
  •         Rest of Asia-Pacific

Rest of the World

Company Profiles

  •         Acumentrics, Inc.
  •         AFC Energy plc
  •         Altergy Systems
  •         Ballard Power Systems Inc. 
  •         Bloom Energy
  •         Ceres Power Holdings plc
  •         Doosan Fuel Cell America, Inc.
  •         FuelCell Energy, Inc.
  •         Fuji Electric Co., Ltd.
  •         Hydrogenics Corp.

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