Global Hydrogen and Fuel Cells Supply, Demand and Key Producers, 2026-2032

The global Hydrogen and Fuel Cells market size is expected to reach $ 50120 million by 2032, rising at a market growth of 27.1% CAGR during the forecast period (2026-2032).

Hydrogen and Fuel Cells use hydrogen as a chemical element, and are made into batteries that store energy. The basic principle is the reverse reaction of electrolysis of water, hydrogen and oxygen were supplied to the cathode and anode, hydrogen diffusion through the cathode and the electrolyte reaction, the release of electrons through the external load to reach the anode.

Traditionally, North American market develops significantly due to commercialization and adoption of electric vehicles. However, Asia Pacific emerges as a growing market in terms of shipment in 2024. Growing demand for new energy vehicles and power systems in APAC market triggers the market demand. The hydrogen and fuel cells market, by type, is segmented into air-cooled type and Water-cooled Type, and air-cooled system accounted for the largest market share in 2023. Growing demand for clean energy generation and reliance on hydrogen and fuel cells-based public transportation systems in developed regions is driving market growth. Moreover, advantages offered by air-cooled system, such as structure is simple, light weight, the price is relatively cheap are likely to drive the demand for air-cooled system during the forecast period. Power based electricity generation is effective in minimizing emission of carbon dioxide or any other hazardous pollutants. Hence, hydrogen and fuel cells technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players.

This report studies the global Hydrogen and Fuel Cells production, demand, key manufacturers, and key regions.

This report is a detailed and comprehensive analysis of the world market for Hydrogen and Fuel Cells and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Hydrogen and Fuel Cells that contribute to its increasing demand across many markets.

Highlights and key features of the study

Global Hydrogen and Fuel Cells total production and demand, 2021-2032, (MW)

Global Hydrogen and Fuel Cells total production value, 2021-2032, (USD Million)

Global Hydrogen and Fuel Cells production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (MW), (based on production site)

Global Hydrogen and Fuel Cells consumption by region & country, CAGR, 2021-2032 & (MW)

U.S. VS China: Hydrogen and Fuel Cells domestic production, consumption, key domestic manufacturers and share

Global Hydrogen and Fuel Cells production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (MW)

Global Hydrogen and Fuel Cells production by Type, production, value, CAGR, 2021-2032, (USD Million) & (MW)

Global Hydrogen and Fuel Cells production by Application, production, value, CAGR, 2021-2032, (USD Million) & (MW)

This report profiles key players in the global Hydrogen and Fuel Cells market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Panasonic, Plug Power, Toshiba ESS, Ballard, SinoHytec, Cummins (Hydrogenics), Nedstack, Hyundai Mobis, Toyota Denso, Elring Klinger, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Hydrogen and Fuel Cells market

Detailed Segmentation:

Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (MW) and average price (US$/KW) by manufacturer, by Type, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.

Global Hydrogen and Fuel Cells Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World

Global Hydrogen and Fuel Cells Market, Segmentation by Type:
Air-Cooled
Water-Cooled

Global Hydrogen and Fuel Cells Market, Segmentation by Application:
Stationary
Transportation
Portable

Companies Profiled:
Panasonic
Plug Power
Toshiba ESS
Ballard
SinoHytec
Cummins (Hydrogenics)
Nedstack
Hyundai Mobis
Toyota Denso
Elring Klinger
Bosch/Powercell
Symbio
Pearl Hydrogen
Sunrise Power
Hyster-Yale Group

Key Questions Answered:

1. How big is the global Hydrogen and Fuel Cells market?

2. What is the demand of the global Hydrogen and Fuel Cells market?

3. What is the year over year growth of the global Hydrogen and Fuel Cells market?

4. What is the production and production value of the global Hydrogen and Fuel Cells market?

5. Who are the key producers in the global Hydrogen and Fuel Cells market?

6. What are the growth factors driving the market demand? Show more