Global Fuel Cell Market 2020-2024

Global Fuel Cell Market 2020-2024

Technavio has been monitoring the fuel cell market and it is poised to grow by 2280.21 MW during 2020-2024 progressing at a CAGR of 25% during the forecast period. Our reports on fuel cell market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growing demand for efficient and clean energy sources and supportive government policies for the adoption of fuel cells. In addition, the rising incentives to increase the appropriation of fuel cell vehicles is anticipated to boost the growth of the market as well.

The fuel cell market analysis includes product segment and geographic landscape.

Technavio's fuel cell market is segmented as below:

By Product

  • PEMFC
  • PAFC
  • SOFC
  • Others
By Geographic Landscapes
  • APAC
  • Americas
  • EMEA
This study identifies the development of zero energy homes as one of the prime reasons driving the fuel cell market growth during the next few years. Also, the adoption of microgrids and Increasing R&D activities will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our fuel cell market covers the following areas:
  • Fuel cell market sizing
  • Fuel cell market forecast
  • Fuel cell market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fuel cell market vendors that include Aisin Seiki Co. Ltd., Ballard Power Systems Inc., Bloom Energy, FuelCell Energy Inc., Panasonic Corp., Proton Power Systems Plc, SFC Energy AG, Siemens AG, Toshiba Energy Systems & Solutions Corp., and Watt Fuel Cell Corp. Also, the fuel cell market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.


  • Executive Summary
  • Market Landscape
    • Market ecosystem
      • Table Parent market
    • Market characteristics
      • Table Market characteristics
    • Value chain analysis
      • Table Value chain analysis: Energy storage
      • Inputs
      • Operations
      • Distribution and logistics
      • Marketing and sales
      • Aftermarket and service
      • Industry innovations:
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2019
    • Market outlook
    • Market size and forecast for 2019 - 2024
      • Table Global - Market size and forecast 2019 - 2024 (MW)
      • Table Global - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table Global market: Year-over-year growth 2019 - 2024 (%)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis 2019 & 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market Segmentation by Product
    • Market segments
      • Table Product - Market share 2019-2024 (%)
    • Comparison by Product
      • Table Comparison by Product
    • PEMFC - Market size and forecast 2019-2024
      • Table PEMFC - Market size and forecast 2019-2024 (MW)
      • Table PEMFC - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table PEMFC - Year-over-year growth 2019-2024 (%)
    • PAFC - Market size and forecast 2019-2024
      • Table PAFC - Market size and forecast 2019-2024 (MW)
      • Table PAFC - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table PAFC - Year-over-year growth 2019-2024 (%)
    • SOFC - Market size and forecast 2019-2024
      • Table SOFC - Market size and forecast 2019-2024 (MW)
      • Table SOFC - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table SOFC - Year-over-year growth 2019-2024 (%)
    • Others - Market size and forecast 2019-2024
      • Table Others - Market size and forecast 2019-2024 (MW)
      • Table Others - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table Others - Year-over-year growth 2019-2024 (%)
      • MCFC
      • DMFC
      • AFC
    • Market opportunity by Product
      • Table Market opportunity by Product
  • Market Segmentation by Application
    • Market segments
      • Table Application - Market share 2019-2024 (%)
    • Comparison by Application
      • Table Comparison by Application
    • Transport - Market size and forecast 2019-2024
      • Table Transport - Market size and forecast 2019-2024 (MW)
      • Table Transport - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table Transport - Year-over-year growth 2019-2024 (%)
    • Stationary - Market size and forecast 2019-2024
      • Table Stationary - Market size and forecast 2019-2024 (MW)
      • Table Stationary - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table Stationary - Year-over-year growth 2019-2024 (%)
    • Portable - Market size and forecast 2019-2024
      • Table Portable - Market size and forecast 2019-2024 (MW)
      • Table Portable - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table Portable - Year-over-year growth 2019-2024 (%)
    • Market opportunity by Application
      • Table Market opportunity by Application
  • Customer landscape
    • Table Customer landscape
  • Geographic Landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 (MW)
      • Table APAC - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table APAC - Year-over-year growth 2019-2024 (%)
    • Americas - Market size and forecast 2019-2024
      • Table Americas - Market size and forecast 2019-2024 (MW)
      • Table Americas - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table Americas - Year-over-year growth 2019-2024 (%)
    • EMEA - Market size and forecast 2019-2024
      • Table EMEA - Market size and forecast 2019-2024 (MW)
      • Table EMEA - Market size and forecast 2019-2024 (MW) exclusive of COVID-19 Impact
      • Table EMEA - Year-over-year growth 2019-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity by geography
      • Table Market opportunity by geography (MW)
  • Drivers, Challenges, and Trends
    • Market drivers
    • Volume driver – Demand led growth
      • Growing demand for efficient and clean energy sources
      • Growing incentives to increase adoption of fuel cell vehicles
        • Table Government incentives for fuel cell vehicles
      • Supportive government policies for adoption of fuel cells
    • Market challenges
      • High cost of fuel cell
      • Challenges associated with hydrogen refueling facilities
      • Competition from alternative technologies
        • Table Impact of drivers and challenges
    • Market trends
      • Increasing R&D activities
      • Development of zero energy homes
      • Increasing adoption of microgrids
  • Vendor Landscape
    • Overview
    • Vendor landscape
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
      • Table Industry risks
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Aisin Seiki Co. Ltd.
      • Table Aisin Seiki Co. Ltd. – Overview
      • Table Aisin Seiki Co. Ltd. - Business segments
      • Table Aisin Seiki Co. Ltd. - Key news
      • Table Aisin Seiki Co. Ltd. - Key offerings
      • Table Aisin Seiki Co. Ltd. - Segment focus
    • Ballard Power Systems Inc.
      • Table Ballard Power Systems Inc. – Overview
      • Table Ballard Power Systems Inc. - Business segments
      • Table Ballard Power Systems Inc. - Key news
      • Table Ballard Power Systems Inc. - Key offerings
    • Bloom Energy
      • Table Bloom Energy – Overview
      • Table Bloom Energy - Product and service
      • Table Bloom Energy - Key news
      • Table Bloom Energy - Key offerings
    • FuelCell Energy Inc.
      • Table FuelCell Energy Inc. – Overview
      • Table FuelCell Energy Inc. - Business segments
      • Table FuelCell Energy Inc. - Key news
      • Table FuelCell Energy Inc. - Key offerings
    • Panasonic Corp.
      • Table Panasonic Corp. – Overview
      • Table Panasonic Corp. - Business segments
      • Table Panasonic Corp. - Key news
      • Table Panasonic Corp. - Key offerings
      • Table Panasonic Corp. - Segment focus
    • Proton Power Systems Plc
      • Table Proton Power Systems Plc – Overview
      • Table Proton Power Systems Plc - Product and service
      • Table Proton Power Systems Plc - Key offerings
    • SFC Energy AG
      • Table SFC Energy AG – Overview
      • Table SFC Energy AG - Business segments
      • Table SFC Energy AG - Key news
      • Table SFC Energy AG - Key offerings
      • Table SFC Energy AG - Segment focus
    • Siemens AG
      • Table Siemens AG – Overview
      • Table Siemens AG - Business segments
      • Table Siemens AG - Key news
      • Table Siemens AG - Key offerings
      • Table Siemens AG - Segment focus
    • Toshiba Energy Systems & Solutions Corp.
      • Table Toshiba Energy Systems & Solutions Corp. – Overview
      • Table Toshiba Energy Systems & Solutions Corp. - Product and service
      • Table Toshiba Energy Systems & Solutions Corp. - Key news
      • Table Toshiba Energy Systems & Solutions Corp. - Key offerings
    • Watt Fuel Cell Corp.
      • Table Watt Fuel Cell Corp. – Overview
      • Table Watt Fuel Cell Corp. - Product and service
      • Table Watt Fuel Cell Corp. - Key news
      • Table Watt Fuel Cell Corp. - Key offerings
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research Methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

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