Fuel Cell Market Size & Share, by Application (Portable, Stationary); Product Type (Proton Exchange Membrane, Molten Carbonate, Solid Oxide, Phosphoric Acid); End -User (Commercial & Industrial, Data Centers, Military & Defense, Residential) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3310
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Companies Dominating the Fuel Cell Landscape

    • ITM Power PLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Fuji Electric Co., Ltd.
    • Proton Power Systems PLC
    • Plug Power Inc.
    • Ballard Power Systems
    • Mitsubishi Heavy Industries, Ltd.
    • SFC Energy AG
    • Cummins, Inc.
    • Navistar, Inc.
    • Fuel Cell Energy, Inc.

Browse Key Market Insights with Data Illustration:


In The News

  • Mitsubishi Heavy Industries, Ltd., received a contract of supplying solid oxide fuel cell in Europe. The system is financed by the state of North Rhine-Westphalia and the European Regional Development Fund as part of the research project "KWK.NRW 4.0." (ERDF)

  • Navistar, Inc. announced the collaboration with General Motors and OneH2 to introduce the hydrogen truck ecosystem. It is a solution for a zero-emission transportation system. General Motors is likely to supply hydrotech fuel cell power cubes and OneH2 is to scale hydrogen production

Author Credits:  Payel Roy, Dhruv Bhatia

  • Report ID: 3310
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising hydrogen production, rising need for clean energy solutions, and rising number of modern data centers are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 25% over the forecast period, i.e., 2023-2035.

Lack of infrastructure for producing hydrogen, high manufacturing cost of fuel cell, and most of the fuel cell is in prototype stage are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Fuji Electric India Pvt. Ltd, Proton Power Systems PLC, Plug Power Inc., Ballard Power Systems Inc., Mitsubishi Heavy Industries, Ltd., SFC Energy AG, Cummins, Inc., Navistar, Inc., Fuel Cell Energy Inc., and ITM Power PLC

The major players in the market are FuelCell Energy Inc., Ballard Power Systems Inc., Mitsubishi Power, Ltd., Plug Power Inc., Cummins Inc., and others.

The market is segmented by application, product type, end user, and by region.

The solid oxide fuel cell (SOFC) segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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