China Fuel Cell Market Size & Outlook, 2023-2030
China fuel cell market, 2018-2030 (US$M)
Related Markets
China fuel cell market highlights
- The China fuel cell market generated a revenue of USD 959.2 million in 2023 and is expected to reach USD 4,087.0 million by 2030.
- The China market is expected to grow at a CAGR of 23% from 2024 to 2030.
- In terms of segment, pemfc was the largest revenue generating product in 2023.
- SOFC is the most lucrative product segment registering the fastest growth during the forecast period.
Fuel cell market data book summary
| Market revenue in 2023 | USD 959.2 million |
| Market revenue in 2030 | USD 4,087.0 million |
| Growth rate | 23% (CAGR from 2023 to 2030) |
| Largest segment | Pemfc |
| Fastest growing segment | SOFC |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PEMFC, PAFC, SOFC, MCFC |
| Key market players worldwide | Ballard Power Systems Inc, Bloom Energy Corp Class A, Ceres Power Holdings PLC, Doosan Fuel Cell Ordinary Shares, FuelCell Energy Inc, Plug Power Inc, SFC Energy AG, Cummins Inc, Nedstack Fuel Cell Technology, Hyster-Yale Materials Handling Inc Class A |
Other key industry trends
- In terms of revenue, China accounted for 13.1% of the global fuel cell market in 2023.
- Country-wise, Japan is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,879.4 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 |
|---|
China 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 67.67% in 2023. Horizon Databook has segmented the China fuel cell market based on pemfc, pafc, sofc, mcfc covering the revenue growth of each sub-segment from 2018 to 2030.
China in its 13th Five-Year Plan which is applicable from 2016 to 2020 has included fuel cell as an emerging sector. After this plan was enforced the Society of Automotive Engineers of China in October 2016 came out with a technological roadmap for deployment of fuel cell vehicles across the country.
This roadmap majorly described current status and technology upgrade required for key areas which were fuel cell stacks including major materials and components, fuel cell engines & for passenger & commercial vehicles, and hydrogen technology for setting up of hydrogen infrastructure.
Reasons to subscribe to China 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 China 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 country-level data and insights on the China fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into China fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
China fuel cell market size, by product, 2018-2030 (US$M)
China Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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
