Global Fuel Cell Market (PEMFC, PAFC, MCFC & SOFC) Key Players, Size, Share, Demands, Trends, Impact of Covid-19, Growth Rate and Forecasts to 2026

The global fuel cell market is expected to record a value of US$26.56 billion in 2026, progressing at a CAGR of 26.35%, over the period 2022-2026. Factors such as growing applications in electric and hybrid vehicles, rising unconventional oil and gas distribution activities, increasing demand for clean power generation methods, enlarging wireless surveillance industry, mounting environmental concerns and expanding urbanization. However, the market growth would be challenged by high maintenance cost of fuel cells, absence of supporting infrastructure and extremely competitive market environment. A few notable trends include, rapid expansion of HVAC industry, surging adoption of fuel cell in defence sector, escalating preference for hydrogen based fuel cells and growing government initiatives on fuel cell programs.

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The global fuel cell market has been segmented on the basis of type, applications and end-user. Depending on type, the market can be divided into Proton Exchange Membrane Fuel Cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Molten Carbonate Fuel Cell (MCFC), Solid Oxide Fuel Cell (SOFC) and other types such as Alkaline Fuel Cell (AFC), Microbial Fuel Cell (MFC), etc. Based on the end-users, the global fuel cell market can be bifurcated into Fuel cell vehicle, utilities, defense and others. Whereas, the global fuel cell market is split stationary, transport and portable, in terms of application.

The fastest growing regional market is Asia Pacific due to increasing popularity of fuel cell electric vehicles, surging adoption of renewable energy technologies and growing investments by various public and private organizations toward development of hydrogen infrastructure in the region. Further, the COVID-19 pandemic had negatively influenced the market growth of fuel cells due to supply chain disruptions and halted various manufacturing activities of key end users, affecting the sales of fuel-cells and associated products.

Scope of the report:

- The report provides a comprehensive analysis of the global fuel cell market segmented on the basis of type, applications, end-user and region, with potential impact of COVID-19.
- The major regional and country markets (Asia Pacific, North America, Europe and RoW) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Kyocera Corporation, Doosan Corporation, Plug Power Inc., FuelCell Energy, Inc., Ceres Power Holdings PLC and Ballard Power Systems Inc.,) are also presented in detail.

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Key Target Audience:

- Fuel Cell Manufacturers
- Raw Material Suppliers
- Traders, Distributors, and Suppliers of Fuel Cells
- End Users (Transportation Industry, Power & Defence Industry, etc.)
- Technology Investors & Venture Capitalists
- Government Bodies & Regulating Authorities

Table of Contents:

1. Market Overview
1.1 Introduction
1.2 Key Components of Fuel Cell
1.3 Classification of Fuel Cells
1.4 The Fuel Cell Manufacturing Life Cycle and Value Chain
1.5 Comparison of Fuel Cell Systems
1.6 End Users and Applications of Fuel Cell
1.7 Fuel Cell Supply Chain
2. Impact of COVID-19
2.1 Decreased Demand from Power Generation Industry
2.2 Drop in the Sales of Fuel Cell Vehicles
2.3 Decline in Industrial Production
3. Global Market Analysis
3.1 Global Fuel Cell Market Forecast by Value
3.2 Global Fuel Cell Market by Type
3.2.1 Global Proton Exchange Membrane Fuel Cell (PEMFC) Market Forecast by Value
3.2.2 Global Phosphoric Acid Fuel Cell (PAFC) Market Forecast by Value
3.2.3 Global Molten Carbonate Fuel Cell (MCFC) Market Forecast by Value
3.2.4 Global Solid Oxide Fuel Cells (SOFC) Market Forecast by Value
3.3 Global Fuel Cell Market by Application
3.3.1 Global Stationary Fuel Cell Market Forecast by Value
3.3.2 Global Transport Fuel Cell Market Forecast by Value
3.3.3 Global Portable Fuel Cell Market Forecast by Value
3.4 Global Fuel Cell Market by End-User
3.4.1 Global Fuel Cell End-User Market Forecast by Value
3.5 Global Fuel Cell Market by Region
3.6 Global Fuel Cell Market Forecast by Volume
3.7 Global Fuel Cell Market Volume by Type
3.7.1 Global Proton Exchange Membrane Fuel Cell (PEMFC) Market Forecast by Volume
3.7.2 Global Solid Oxide Fuel Cell (SOFC) Market Forecast by Volume
3.7.3 Global Phosphoric Acid Fuel Cell (PAFC) Market Forecast by Volume
3.8 Global Fuel Cell Market Volume by Application
3.8.1 Global Stationary Fuel Cell Market Forecast by Volume
3.8.2 Global Transport Fuel Cell Market Forecast by Volume
3.8.3 Global Portable Fuel Cell Market Forecast by Volume
3.9 Global Fuel Cell Market Volume by Region
3.10 Global Fuel Cell Shipments Forecast
3.11 Global Fuel Cell Shipments by Type
3.11.1 Global Proton Exchange Membrane Fuel Cell (PEMFC) Shipments Forecast
3.11.2 Global Phosphoric Acid Fuel Cell (PAFC) Shipments Forecast
3.11.3 Global Molten Carbonate Fuel Cell (MCFC) Shipments Forecast
3.12 Global Fuel Cell Shipments by Application
3.12.1 Global Transport Fuel Cell Shipments Forecast
3.12.2 Global Stationary Fuel Cell Shipments Forecast
3.12.3 Global Portable Fuel Cell Shipments Forecast
3.13 Global Fuel Cell Shipments by Region

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4. Regional Market Analysis
4.1 Asia Pacific
4.1.1 Asia Pacific Fuel Cell Market Forecast by Value
4.1.2 Asia Pacific Fuel Cell Market Forecast by Volume
4.1.3 Asia-Pacific Fuel Cell Shipments Forecast
4.2 North America
4.2.1 North America Fuel Cell Market Forecast by Value
4.2.2 North America Fuel Cell Market Forecast by Volume
4.2.3 North America Fuel Cell Shipments Forecast
4.3 Europe
4.3.1 Europe Fuel Cell Market Forecast by Value
4.3.2 Europe Fuel Cell Market Forecast by Volume
4.3.3 Europe Fuel Cell Shipments Forecast
4.4 Rest of the World
4.4.1 Rest of the World Fuel Cell Market Forecast by Value
4.4.2 Rest of the World Fuel Cell Market Forecast by Volume
4.4.3 Rest of the World Fuel Cell Shipments Forecast
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing Applications in Electric and Hybrid Vehicles
5.1.2 Rising Unconventional Oil and Gas Distribution Activities
5.1.3 Increasing Demand for Clean Power Generation Methods
5.1.4 Enlarging Wireless Surveillance Industry
5.1.5 Mounting Environmental Concerns
5.1.6 Expanding Urbanization
5.2 Key Trends and Developments
5.2.1 Rapid Expansion of Heating, Ventilation, and Air Conditioning (HVAC) Market
5.2.2 Upsurge in Fuel Cell Vehicle Sales
5.2.3 Surging Adoption of Fuel Cell in Defence Sector
5.2.4 Escalating Preference for Hydrogen based Fuel Cells
5.2.5 Growing Government Initiatives on Fuel Cell Programs
5.3 Challenges
5.3.1 High Maintenance Cost of Fuel Cells
5.3.2 Absence of Supporting Infrastructure
5.3.3 Hydrogen Storage and Transportation Issues
5.3.4 Extremely Competitive Environment
6. Competitive Landscape
6.1 Global Market
6.1.1 Revenue Comparison of Key Players
6.1.2 Market Capitalization Comparison of Key Players
6.1.3 R&D Comparison of Key Players
7. Company Profiles
7.1 Kyocera Corporation
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategies
7.2 Doosan Corporation
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategies
7.3 Plug Power Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategies
7.4 FuelCell Energy, Inc.
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategies
7.5 Ceres Power Holdings PLC
7.5.1 Business Overview
7.5.2 Financial Overview
7.5.3 Business Strategies
7.6 Ballard Power Systems Inc.
7.6.1 Business Overview
7.6.2 Financial Overview
7.6.3 Business Strategies

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