Global Fuel Cell Market Size & Outlook, 2023-2030
Global fuel cell market, 2018-2030 (US$M)
Related Markets
Global fuel cell market highlights
- The global fuel cell market generated a revenue of USD 7,349.1 million in 2023 and is expected to reach USD 27,898.2 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 21% by 2030.
- In terms of segment, pemfc accounted for a revenue of USD 4,481.2 million in 2023.
- SOFC is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Japan is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 7,349.1 million |
| Market revenue in 2030 | USD 27,898.2 million |
| Growth rate | 21% (CAGR from 2023 to 2030) |
| Largest segment | Pemfc |
| Fastest growing segment | SOFC |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PEMFC, PAFC, SOFC, MCFC |
Other key industry trends
- In terms of revenue, the North America accounted for 19.0% of the global fuel cell market in 2023.
- By country, the Japan is projected to lead the global market in terms of revenue in 2030.
- By country, Japan is the fastest growing regional market and is projected to reach USD 8,121.2 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Fuel Cell Market Scope
Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global fuel cell market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to fuel cell market will help companies and investors design strategic landscapes.
Pemfc was the largest segment with a revenue share of 60.98% in 2023. Horizon Databook has segmented the Global fuel cell market based on pemfc, pafc, sofc, mcfc covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Fuel Cell Product Outlook (Revenue, USD Million, 2018-2030)
- PEMFC
- PAFC
- SOFC
- MCFC
- Others
- Global Fuel Cell Application Outlook (Revenue, USD Million, 2018-2030)
- Stationary
- Transportation
- Portable
Reasons to subscribe to Global fuel cell market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Global fuel cell market databook
-
Our clientele includes a mix of fuel cell market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global fuel cell market , including forecasts for subscribers. This global databook contains high-level insights into Global fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global fuel cell market size, by region, 2018-2030 (US$M)
Top 10 countries: Fuel cell market size, 2023 (US$M)
Global fuel cell market share, by product, 2023 & 2030 (%, US$M)
Fuel cell market: Opportunity assessment by country
Global fuel cell market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 1,434.1 | 1,106.6 | 973.8 | 1,041.9 | 1,192.6 | 1,397.2 | 1,687.3 | 2,114.0 | 2,703.7 | 3,501.6 | 4,623.8 | 5,230.8 | 5,993.9 | 23.1% |
| Europe | 476.1 | 742.6 | 669.9 | 732.3 | 852.4 | 1,010.0 | 1,226.5 | 1,534.8 | 1,944.9 | 2,472.1 | 3,165.8 | 3,513.6 | 3,995.2 | 21.7% |
| Asia Pacific | 2,339.9 | 4,359.4 | 2,457.5 | 3,452.1 | 4,284.0 | 4,941.1 | 5,858.6 | 7,184.2 | 8,957.9 | 11,258.6 | 13,987.7 | 16,398.9 | 17,905.9 | 20.2% |
| Latin America | 0.8 | 0.2 | 0.2 | 0.3 | 0.3 | 0.4 | 0.4 | 0.6 | 0.7 | 0.9 | 1.2 | 1.4 | 1.5 | 22.1% |
| MEA | 1.5 | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 | 0.6 | 0.7 | 0.9 | 1.2 | 1.6 | 1.7 | 1.8 | 20.2% |
| Overall | 4,252.4 | 6,209.1 | 4,101.7 | 5,226.9 | 6,329.7 | 7,349.1 | 8,773.5 | 10,834.3 | 13,608.1 | 17,234.4 | 21,780.1 | 25,146.4 | 27,898.2 | 21.0% |
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
