Hydrogen Fuel Cell Market By Reports And Data
                     Hydrogen Fuel Cell Market To 
Reach USD 49.5 Billion By 2027
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       Market  Summary
Increasing adoption of unconventional energy sources by the 
end-use industries due to growing concerns of fossil fuel 
depletion, growing private-public partnerships in alternative fuel 
developments, and concern for the environment are key factors 
contributing to a high CAGR of the hydrogen fuel cell market 
during the forecast period.
Market Size – USD 10.5 Billion in 2019, Market Growth - CAGR of 
21.4%, Market Trends – increasing demand from stationary and 
automotive applications widening the scope for Hydrogen Fuel 
Cell Market.
The global Hydrogen Fuel Cell market was valued at USD 10.49 
Billion in 2018 and is projected to grow at a CAGR of 21.4% from 
2019 to reach USD 49.52 Billion by the year 2026. Hydrogen fuel 
cells are known to be used in a broad range of applications like 
cars, buildings, electronic devices, trucks, and/or backup power 
systems. As those fuel cells can be grid-independent, they are an 
attractive option for critical load functions such as 
telecommunication towers, data centers, emergency response 
systems, hospitals, and even military applications for national 
defense.
            M  a Orkuetr  S Aumpmparroyach
A Hydrogen fuel cell is a device that generates electrical power by a chemical reaction via conversion of 
fuel (hydrogen) into electricity. Although fuel cells are considered to be electrochemical cells and consist of 
similar structures, fuel cells require an uninterrupted source of oxygen and fuel to run, similar to how an 
internal combustion engine that needs a constant flow of gasoline or diesel.
Growth in demand for electric vehicles is driving the market for hydrogen fuel cells. An increase in carbon 
emissions has attracted the government’s attention to the usage of electric vehicles. Another factor 
impacting the market is the growing concern for the environment. The over-exploitation of fossil fuels has 
created ecological concerns due to harmful gas emissions. The need for reduced dependence on oil and 
diesel are propelling the demand of the market.
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       M   a r kOeut  Sru Ampmparyoach
Key participants include Toshiba Corporation, Panasonic Corporation, Materials Handling Inc., Fuel cell Energy 
Inc., Intelligent Energy Limited, SFC Energy AG, Ballard Energy Corporation, Plug Power Inc., Bloom Energy 
Corporation, Hydrogenic Corporation
Product Type (Revenue, USD Million; Volume in Megawatt, 2017–2027)
• Liquid-Cooled Type
• Air-Cooled Type
Technology Type (Revenue, USD Million; Volume in Megawatt, 2017–2027)
• Polymer Exchange Membrane Fuel Cells (PEMFC)
• Phosphoric Acid Fuel Cells (PAFC)
• Solid Oxide Fuel Cells (SOFC)
• Direct Methanol Fuel Cells (DMFC)
• Molten Carbonate Fuel Cells (MCFC)
       M   a r kOeut  Sru Ampmparyoach
Application (Revenue, USD Million; Volume in Megawatt, 2017–2027)
• Automotive
• Stationary
• Material Handling Equipment
• Electricity
• Portable Power
Regional Outlook (Revenue in USD Million; Volume in Megawatt, 2017–2027)
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
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About Us
   A  b  oOuutr U Aspproach
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