Report Highlights
The global market for hydrogen fuel cells reached $6.6 billion in 2021. The market should grow from $7.5 billion in 2022 to $19.5 billion by 2027, at a compound annual growth rate (CAGR) of 21.0% during 2022-2027.
Report Includes
- 44 data tables and 38 additional tables
- An up-to-date overview of the global market for hydrogen fuel cells technology
- Analyses of the global market trends, with data from 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the upcoming market potential for hydrogen fuel cells in stationery and transport power generation industry, future trends and innovations, and areas of focus to forecast this market into various segments and sub-segments
- Evaluation and forecast the global hydrogen fuel cell market size for, and corresponding market share analysis by fuel cell type, application, and region
- Discussion of the key market dynamics (DROs), technology updates, industry value chain analysis, and COVID-19 implications on the progress of this market
- Insight into recent industry structure, current competitive scenario, R&D activities, major growth strategies, and company value share analysis based on their segmental revenues
- Latest information on recent developments in the hydrogen fuel cell industry
- Descriptive company profiles of the leading global players, including Bloom Energy, Cummins Inc., Delphi Automotive, General Electric, Mitsubishi Heavy Industries Ltd., Panasonic Group, Rolls-Royce Fuel Cell Systems Ltd., and Shell Hydrogen BV
Report Scope
This report covers fuel cells used in stationary power generation and storage applications along with mobility applications. Other applications primarily include fuel cell electrolyzers. These electrolyzers use electricity as input and produce hydrogen as an output. Thus, they are not considered in the study.
Definitive and detailed estimates and forecasts of the global market are provided. The report also contains a detailed analysis of the key fuel cell types, regions, countries, applications, and ongoing trends in the market.
The fuel cell market is segmented based on a) type of fuel cell and b) application. Solid oxide fuel cells and proton exchange membrane fuel cells (PEMFC) are the major types in the fuel cell market. The applications considered in this study are combined heating and power (CHP), stationary power supply units, auxiliary power units (APU), and vehicle propulsion systems.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Base year considered | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forecast period considered | 2022-2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Base year market size | $6.6 billion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market size forecast | $19.5 billion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Growth rate | CAGR of 21% from 2022 to 2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segments covered | Type, Application | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Countries covered | U.S., Japan, South Korea, Rest of APAC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Companies studied |
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Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
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