Auther / Researcher : JJf_60981
  • Category : Power and Energy
  • Region : Global
  • Publishing Date : 31-07-2022
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Global Fuel Cell Market 2021-2031 by Product (PEMFC, PAFC, SOFC, MCFC, DMFC, AFC), Capacity (200 Kw or below, above 200 Kw), Application (Stationary, Transportation, Portable), End User, and Region: Trend Forecast and Growth Opportunity


Global fuel cell market will reach $41,143.1 million by 2031, growing by 21% annually over 2021-2031 driven by the increasing need for clean power generation, stringent norms on greenhouse gas (GHG) emission across the globe, increasing R&D grants and government incentives, and the mounting environmental concerns and expanding urbanization. 

Highlighted with 101 tables and 83 figures, this 177-page report “Global Fuel Cell Market 2021-2031 by Product (PEMFC, PAFC, SOFC, MCFC, DMFC, AFC), Capacity (200 Kw or below, above 200 Kw), Application (Stationary, Transportation, Portable), End User, and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global fuel cell market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

 

In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure 

• Growth Drivers 

• Restraints and Challenges

• Emerging Product Trends & Market Opportunities

• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global fuel cell market in every aspect of the classification from perspectives of Product, Capacity, Application, End User, and Region. 

 

Based on Product, the global market is segmented into the following sub-markets with annual revenue ($ mn), capacity (MW), and volume (units) for 2021-2031 included in each section. 

• Proton Exchange Membrane Fuel Cell (PEMFC)

• Phosphoric Acid Fuel Cell (PAFC)

• Solid Oxide Fuel Cell (SOFC)

• Molten Carbonate Fuel Cell (MCFC)

• Direct Methanol Fuel Cell (DMFC)

• Alkaline Fuel Cell (AFC)

• Other Fuel Cells

 

Based on Capacity, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. 

• Small Scale (Up to 200 Kw)

• Large Scale (Above 200 Kw)

 

By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn), capacity (MW), and volume (units) for 2021-2031 included in each section. 

• Stationary

• Transportation

• Portable

 

By End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. 

• Transportation

• Utilities & Government/Municipal Institutes

• Residential

• Commercial & Industrial

• Data Centers

• Military & Defense

 

Geographically, the following regions together with the listed national/local markets are fully investigated:

• North America (U.S., Canada, and Mexico)

• Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)

• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

• South America (Brazil, Chile, Argentina, Rest of South America)

• MEA (Israel, Saudi Arabia, South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Product, Capacity and Application over the forecast years are also included.

 

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players: 

Ballard Power Systems Inc.

Bloom Energy Corp.

Ceres Power Holdings PLC

Cummins Inc.

Doosan Fuel Cell America, Inc.

FuelCell Energy Inc.

Horizon Fuel Cell Technologies Pte. Ltd.

Hydrogenics Corporation

Intelligent Energy Limited

Mitsubishi Hitachi Power Systems Ltd.

Nedstack Fuel Cell Technology BV

Nuvera Fuel Cells Inc. (Nuvera Fuel Cells LLC)

Panasonic Corporation

Plug Power Inc.

PowerCell Sweden AB

SFC Energy AG

Toshiba Energy Systems & Solutions Corporation

(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)


List of Tables:

 

Table 1.  Snapshot of Global Fuel Cell Market in Balanced Perspective, 2021-2031 20

Table 2. World Economic Outlook, 2021-2031 25

Table 3. Pricing Trend of Lithium-ion Battery, USD per kWh, 2016-2031 31

Table 4.  Main Product Trends and Market Opportunities in Global Fuel Cell Market 35

Table 5. Comparison of Fuel Cell Products 43

Table 6. Global Fuel Cell Market by Product, 2021-2031, Revenue ($ mn) 44

Table 7. Global Fuel Cell Market by Product, 2021-2031, Capacity (MW) 46

Table 8. Global Fuel Cell Market by Product, 2021-2031, Volume (units) 48

Table 9. Global Fuel Cell Market by Product: Proton Exchange Membrane Fuel Cell (PEMFC), 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 50

Table 10. Global Fuel Cell Market by Product: Phosphoric Acid Fuel Cell (PAFC), 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 51

Table 11. Global Fuel Cell Market by Product: Solid Oxide Fuel Cell (SOFC), 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 52

Table 12. Global Fuel Cell Market by Product: Molten Carbonate Fuel Cell (MCFC), 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 53

Table 13. Global Fuel Cell Market by Product: Direct Methanol Fuel Cell (DMFC), 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 54

Table 14. Global Fuel Cell Market by Product: Alkaline Fuel Cell (AFC), 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 55

Table 15. Global Fuel Cell Market by Product: Other Fuel Cells, 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 56

Table 16. Global Fuel Cell Market by Capacity, 2021-2031, $ mn 57

Table 17. Global Fuel Cell Market by Application, 2021-2031, Revenue ($ mn) 61

Table 18. Global Fuel Cell Market by Application, 2021-2031, Capacity (MW) 63

Table 19. Global Fuel Cell Market by Application, 2021-2031, Volume (units) 65

Table 20. Global Fuel Cell Market by by Application: Stationary, 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 67

Table 21. Global Fuel Cell Market by by Application: Transportation, 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 68

Table 22. Global Fuel Cell Market by by Application: Portable, 2021-2031, Revenue ($ mn)/Capacity (MW)/Volume (units) 69

Table 23. Global Fuel Cell Market by End User, 2021-2031, $ mn 70

Table 24. Global Fuel Cell Market by Region, 2021-2031, Revenue ($ mn) 79

Table 25. Global Fuel Cell Market by Region, 2021-2031, Capacity (MW) 81

Table 26. Global Fuel Cell Market by Region, 2021-2031, Volume (units) 83

Table 27.  Leading National Fuel Cell Market, 2021 and 2031, $ mn 85

Table 28. North America Fuel Cell Market by Country, 2021-2031, $ mn 88

Table 29. Funding for Fuel Cell Technology in U.S., 2020 91

Table 30. U.S. Fuel Cell Market by Product, 2021-2031, $ mn 94

Table 31. U.S. Fuel Cell Market by Capacity, 2021-2031, $ mn 94

Table 32. U.S. Fuel Cell Market by Application, 2021-2031, $ mn 94

Table 33. Canada Fuel Cell Market by Product, 2021-2031, $ mn 96

Table 34. Canada Fuel Cell Market by Capacity, 2021-2031, $ mn 96

Table 35. Canada Fuel Cell Market by Application, 2021-2031, $ mn 96

Table 36. Mexico Fuel Cell Market by Product, 2021-2031, $ mn 98

Table 37. Mexico Fuel Cell Market by Capacity, 2021-2031, $ mn 98

Table 38. Mexico Fuel Cell Market by Application, 2021-2031, $ mn 98

Table 39. List of Fuel Cell Projects under Fuel Cells and Hydrogen Joint Undertaking (FCH JU) 100

Table 40. Europe Fuel Cell Market by Country, 2021-2031, $ mn 102

Table 41. Germany Fuel Cell Market by Product, 2021-2031, $ mn 104

Table 42. Germany Fuel Cell Market by Capacity, 2021-2031, $ mn 104

Table 43. Germany Fuel Cell Market by Application, 2021-2031, $ mn 104

Table 44. U.K. Fuel Cell Market by Product, 2021-2031, $ mn 106

Table 45. U.K. Fuel Cell Market by Capacity, 2021-2031, $ mn 106

Table 46. U.K. Fuel Cell Market by Application, 2021-2031, $ mn 106

Table 47. France Fuel Cell Market by Product, 2021-2031, $ mn 108

Table 48. France Fuel Cell Market by Capacity, 2021-2031, $ mn 108

Table 49. France Fuel Cell Market by Application, 2021-2031, $ mn 108

Table 50. Spain Fuel Cell Market by Product, 2021-2031, $ mn 110

Table 51. Spain Fuel Cell Market by Capacity, 2021-2031, $ mn 110

Table 52. Spain Fuel Cell Market by Application, 2021-2031, $ mn 110

Table 53. Italy Fuel Cell Market by Product, 2021-2031, $ mn 112

Table 54. Italy Fuel Cell Market by Capacity, 2021-2031, $ mn 112

Table 55. Italy Fuel Cell Market by Application, 2021-2031, $ mn 112

Table 56. Netherlands Fuel Cell Market by Product, 2021-2031, $ mn 114

Table 57. Netherlands Fuel Cell Market by Capacity, 2021-2031, $ mn 114

Table 58. Netherlands Fuel Cell Market by Application, 2021-2031, $ mn 114

Table 59. Fuel Cell Market in Rest of Europe by Country, 2021-2031, $ mn 116

Table 60. FCEV Volume in Selected National Markets in APAC, 2020-2030, thousand units 118

Table 61. Volume of Hydrogen Fueling Stations in Selected National Markets in APAC, 2020-2030, units 118

Table 62. APAC Fuel Cell Market by Country, 2021-2031, $ mn 120

Table 63. Japan Fuel Cell Market by Product, 2021-2031, $ mn 124

Table 64. Japan Fuel Cell Market by Capacity, 2021-2031, $ mn 124

Table 65. Japan Fuel Cell Market by Application, 2021-2031, $ mn 124

Table 66. China Fuel Cell Market by Product, 2021-2031, $ mn 126

Table 67. China Fuel Cell Market by Capacity, 2021-2031, $ mn 126

Table 68. China Fuel Cell Market by Application, 2021-2031, $ mn 126

Table 69. Australia Fuel Cell Market by Product, 2021-2031, $ mn 128

Table 70. Australia Fuel Cell Market by Capacity, 2021-2031, $ mn 128

Table 71. Australia Fuel Cell Market by Application, 2021-2031, $ mn 128

Table 72. India Fuel Cell Market by Product, 2021-2031, $ mn 130

Table 73. India Fuel Cell Market by Capacity, 2021-2031, $ mn 130

Table 74. India Fuel Cell Market by Application, 2021-2031, $ mn 130

Table 75. South Korea Fuel Cell Market by Product, 2021-2031, $ mn 132

Table 76. South Korea Fuel Cell Market by Capacity, 2021-2031, $ mn 132

Table 77. South Korea Fuel Cell Market by Application, 2021-2031, $ mn 132

Table 78. Fuel Cell Market in Rest of APAC by Country/Region, 2021-2031, $ mn 134

Table 79. South America Fuel Cell Market by Country, 2021-2031, $ mn 137

Table 80. Argentina Fuel Cell Market by Product, 2021-2031, $ mn 139

Table 81. Argentina Fuel Cell Market by Capacity, 2021-2031, $ mn 139

Table 82. Argentina Fuel Cell Market by Application, 2021-2031, $ mn 139

Table 83. Brazil Fuel Cell Market by Product, 2021-2031, $ mn 141

Table 84. Brazil Fuel Cell Market by Capacity, 2021-2031, $ mn 141

Table 85. Brazil Fuel Cell Market by Application, 2021-2031, $ mn 141

Table 86. Chile Fuel Cell Market by Product, 2021-2031, $ mn 143

Table 87. Chile Fuel Cell Market by Capacity, 2021-2031, $ mn 143

Table 88. Chile Fuel Cell Market by Application, 2021-2031, $ mn 143

Table 89. MEA Fuel Cell Market by Country, 2021-2031, $ mn 147

Table 90. Israel Fuel Cell Market by Product, 2021-2031, $ mn 149

Table 91. Israel Fuel Cell Market by Capacity, 2021-2031, $ mn 149

Table 92. Israel Fuel Cell Market by Application, 2021-2031, $ mn 149

Table 93. Saudi Arabia Fuel Cell Market by Product, 2021-2031, $ mn 151

Table 94. Saudi Arabia Fuel Cell Market by Capacity, 2021-2031, $ mn 151

Table 95. Saudi Arabia Fuel Cell Market by Application, 2021-2031, $ mn 151

Table 96. South Africa Fuel Cell Market by Product, 2021-2031, $ mn 153

Table 97. South Africa Fuel Cell Market by Capacity, 2021-2031, $ mn 153

Table 98. South Africa Fuel Cell Market by Application, 2021-2031, $ mn 153

Table 99. Ballard Power Systems Inc.: Company Snapshot 159

Table 100. Ballard Power Systems Inc.: Business Segmentation 160

Table 101. Ballard Power Systems Inc.: Product Portfolio 160


1 Introduction 9

1.1 Industry Definition and Research Scope 9

1.1.1 Industry Definition 9

1.1.2 Research Scope 11

1.2 Research Methodology 14

1.2.1 Overview of Market Research Methodology 14

1.2.2 Market Assumption 15

1.2.3 Secondary Data 15

1.2.4 Primary Data 15

1.2.5 Data Filtration and Model Design 16

1.2.6 Market Size/Share Estimation 17

1.2.7 Research Limitations 18

1.3 Executive Summary 19

2 Market Overview and Dynamics 22

2.1 Market Size and Forecast 22

2.1.1 Impact of COVID-19 on World Economy 24

2.1.2 Impact of COVID-19 on the Market 26

2.2 Major Growth Drivers 28

2.3 Market Restraints and Challenges 32

2.4 Emerging Opportunities and Market Trends 35

2.5 Porter’s Fiver Forces Analysis 39

3 Segmentation of Global Market by Product 43

3.1 Market Overview by Product 43

3.2 Proton Exchange Membrane Fuel Cell (PEMFC) 50

3.3 Phosphoric Acid Fuel Cell (PAFC) 51

3.4 Solid Oxide Fuel Cell (SOFC) 52

3.5 Molten Carbonate Fuel Cell (MCFC) 53

3.6 Direct Methanol Fuel Cell (DMFC) 54

3.7 Alkaline Fuel Cell (AFC) 55

3.8 Other Fuel Cells 56

4 Segmentation of Global Market by Capacity 57

4.1 Market Overview by Capacity 57

4.2 Small Scale (Up to 200 Kw) 59

4.3 Large Scale (Above 200 Kw) 60

5 Segmentation of Global Market by Application 61

5.1 Market Overview by Application 61

5.2 Stationary 67

5.3 Transportation 68

5.4 Portable 69

6 Segmentation of Global Market by End User 70

6.1 Market Overview by End User 70

6.2 Transportation 72

6.3 Utilities & Government/Municipal Institutes 73

6.4 Residential 74

6.5 Commercial & Industrial 75

6.6 Data Centers 76

6.7 Military & Defense 77

7 Segmentation of Global Market by Region 78

7.1 Geographic Market Overview 2021-2031 78

7.2 North America Market 2021-2031 by Country 86

7.2.1 Overview of North America Market 86

7.2.2 U.S. 90

7.2.3 Canada 95

7.2.4 Mexico 97

7.3 European Market 2021-2031 by Country 99

7.3.1 Overview of European Market 99

7.3.2 Germany 103

7.3.3 U.K. 105

7.3.4 France 107

7.3.5 Spain 109

7.3.6 Italy 111

7.3.7 Netherlands 113

7.3.8 Rest of European Market 115

7.4 Asia-Pacific Market 2021-2031 by Country 117

7.4.1 Overview of Asia-Pacific Market 117

7.4.2 Japan 122

7.4.3 China 125

7.4.4 Australia 127

7.4.5 India 129

7.4.6 South Korea 131

7.4.7 Rest of APAC Region 133

7.5 South America Market 2021-2031 by Country 135

7.5.1 Argentina 138

7.5.2 Brazil 140

7.5.3 Chile 142

7.5.4 Rest of South America Market 144

7.6 MEA Market 2021-2031 by Country 145

7.6.1 Israel 148

7.6.2 Saudi Arabia 150

7.6.3 South Africa 152

7.6.4 Other National Markets 154

8 Competitive Landscape 155

8.1 Overview of Key Vendors 155

8.2 New Product Launch, Partnership, Investment, and M&A 158

8.3 Company Profiles 159

Ballard Power Systems Inc. 159

Bloom Energy Corp. 161

Ceres Power Holdings PLC 162

Cummins Inc. 163

Doosan Fuel Cell America, Inc. 164

FuelCell Energy Inc. 165

Horizon Fuel Cell Technologies Pte. Ltd. 166

Hydrogenics Corporation 167

Intelligent Energy Limited 168

Mitsubishi Hitachi Power Systems Ltd. 169

Nedstack Fuel Cell Technology BV 170

Nuvera Fuel Cells Inc. (Nuvera Fuel Cells LLC) 171

Panasonic Corporation 172

Plug Power Inc. 173

PowerCell Sweden AB 174

SFC Energy AG 175

Toshiba Energy Systems & Solutions Corporation 176

RELATED REPORTS 177