Germany Fuel Cell Market Size & Outlook, 2023-2030
Germany fuel cell market, 2018-2030 (US$M)
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Germany fuel cell market highlights
- The Germany fuel cell market generated a revenue of USD 680.3 million in 2023 and is expected to reach USD 2,698.5 million by 2030.
- The Germany market is expected to grow at a CAGR of 21.8% 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 680.3 million |
| Market revenue in 2030 | USD 2,698.5 million |
| Growth rate | 21.8% (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, Germany accounted for 9.3% 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 Europe, Germany fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 228.9 million by 2030.
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Fuel Cell Market Scope
Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany 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 63.41% in 2023. Horizon Databook has segmented the Germany fuel cell market based on pemfc, pafc, sofc, mcfc covering the revenue growth of each sub-segment from 2018 to 2030.
The German Federal Government introduced a strategic alliance National Hydrogen and Fuel Cell Technology Innovation Programme (NIP) in 2006 to make a transition in the application of fuel cell. The aim of NIP is to speed up product development pertaining to the application of fuel cell. This program was assigned a budget of USD 1.49 billion (EUR 1.4 billion) until 2016.
After NIP, the German Federal Government came out with National Hydrogen and Fuel Cell Development Plan (NEP) in 2011. NEP introduced targets and gave outlook about the application of fuel cells in various sectors. Major areas of application included in the scope of NEP are transport, industrial, and hydrogen production.
Under transportation sector, NEP has focused on the development of fuel cell-based cars & buses with relevant infrastructure development. Some of the areas that are given priority for the development of fuel cell market in Germany include fuel cell stacks, hydrogen storage, peripheral components, system integration, and service station & infrastructure.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into Germany fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany fuel cell market size, by product, 2018-2030 (US$M)
Germany Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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