Top Players in Fuel Cell Market 2026 - Ballard Power Systems, FuelCell Energy, Hydrogenics Corp, Plug Power, Ceres Power, SFC Energy, Bloom Energy
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Drivers and restraints:
Due to the increased amounts of carbon dioxide and other greenhouse gases released from burning fossil fuels for energy fuel, thus the demand for a cleaner and more efficient power source is increasing. This is a major driver for the Fuel Cell market.
Basic fuel cells running on pure hydrogen are pollution free, giving off only electricity, wa-ter, and heat. The potential for fuel cells to provide zero or near-zero emissions has been a significant force in the development of the technology over the past 30 years, and is draw-ing increasing attention to the technology today.
The biggest hurdle for fuel cells market today is cost. Fuel cells cannot yet compete eco-nomically with more traditional energy technologies, though rapid technical advances are being made. So high cost of fuel cells can be a possible restraint for this market.
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Market segment analysis:
The report segments the Fuel Cell market by technology type, By Application and lastly By Geographical Region. By Technology type the market has been segmented into- Polymer Electrolyte Membrane Fuel Cell (PEMFC), Solid Oxide Fuel cell (SOFC), Molten Carbonate Fuel cell (MCFC), Alkaline Fuel Cell (AFC), and Others (Phosphoric Acid fuel cell (PAFC), Di-rect Methanol fuel cell (DMFC)). By Application type the market has been segmented into- Portable Power, Stationary Power and Transportation. In 2016, approximately 62,000 fuel cell systems were shipped worldwide from US, up slightly from 60,000 in 2015.
More significantly, the total MW grew substantially from 300 MW in 2015 to 500 MW in 2016
The largest increase-nearly triple-in MWs occurred in the transportation sector, and that growth can be attributed to the introduction and expansion of fuel cell light-duty vehicles from Japan and Korea to new regions around the world. There was also the inclusion of Honda's fuel cell vehicle to the marketplace. Other transportation applications such as buses and material handling also contributed to the increase in MW shipped.
By Geography type the market has been segmented into- North America, South America, Europe, Asia-Pacific and Rest of the world. There are many fuel cell developmental projects going on around the world. There are a large number of hydrogen fuel cell prototype vehi-cles which include two-wheelers, cars and buses, and are already being tested on the roads in several countries especially developed world.
National governments such as USA, Canada and Japan are at the forefront of financing such projects. In other developing countries like Brazil, China and India, research on hydrogen fuel cells for both stationary and transport application is already underway. There are other efforts in some small countries like Taiwan where the government and the private sector are investing in fuel cell research. This has yielded new, potentially marketable technologies such as electric bicycles and scooters.
The report profiles the following companies, which includes Ballard Power Systems FuelCell Energy, Hydrogenics Corp., Plug Power, Ceres Power, SFC Energy, Bloom Energy, Nuvera Fuel Cells, Inc., SFC Energy, Altergy Systems and AFCT.
Many regulations, guidelines, and codes and standards have already been established through years of fuel cell use in industrial and aerospace applications. In addition, systems and organizations are already in place to establish codes and standards that facilitate fuel cell commercialization. The Hydrogen and Fuel Cells Codes and Standards Matrix is an up-to-date directory of all codes and standards worldwide dealing with hydrogen, fuel cells, and fuel cell-related issues.
Key market segments covered
By Technology Type
Polymer Electrolyte Membrane Fuel Cell (PEMFC)
Solid Oxide Fuel cell (SOFC)
Molten Carbonate Fuel cell (MCFC)
Alkaline Fuel Cell (AFC)
Rest of the World
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