Hydrogen Fuel Cell Stacks Market by Application and Geography - Forecast and Analysis 2019-2023

Global Hydrogen Fuel Cell Stacks Market

Global Hydrogen Fuel Cell Stacks Market: About this market

Technavio’s hydrogen fuel cell stacks market analysis considers sales from applications in stationary, transport, and portable. Our report also finds the sales of hydrogen fuel cell stacks in APAC, Americas, and EMEA. In 2018, the stationary segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as minimal CO2 emission and high-energy efficiency will play a vital role in the stationary segment to maintain its market position. Also, our global hydrogen fuel cell stacks market report looks at factors such as incentives to increase the adoption of FCVs, favorable government regulations and initiatives, and the rising demand for clean energy sources. However, high cost of fuel cell development and adoption, challenges associated with hydrogen refueling facilities, and competition from alternative technologies may hamper the growth of the hydrogen fuel cell stacks industry over the forecast period.

Global Hydrogen Fuel Cell Stacks Market: Overview

Favorable government regulations and initiatives

The adoption of fuel cells and other clean power generation technologies is increasing and is reducing the dependence on fossil fuel. Thus, governments across the globe have introduced several initiatives to reduce the cost of the technology and to improve the hydrogen-related infrastructure. For instance, according to US DOE, the funds provided by the California Energy Commission mainly focused on boosting the deployment of hydrogen refueling stations. This will lead to the expansion of the global hydrogen fuel cell stacks market at a CAGR of over 18% during the forecast period.

Increasing adoption in material handling applications

Hydrogen fuel cells are a new commercial technology and are gaining traction owing to their high efficiency in automotive and power generation applications with low emissions. With the growing R&D activities to develop hydrogen fuel cell infrastructure, hydrogen fuel cell-powered systems have been introduced for material handling equipment, increasing its productivity. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global hydrogen fuel cell stacks market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global hydrogen fuel cell stacks market is fragmented. 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 hydrogen fuel cell stacks manufacturers, that include Ballard Power Systems Inc., Bing Energy Inc., Freudenberg SE, Horizon Fuel Cell Technologies Pte. Ltd., Hydrogenics Corp., Nuvera Fuel Cells LLC, Plug Power Inc., PowerCell Sweden AB, Proton Power Systems Plc, and Sunrise Power Co. Ltd.

Also, the hydrogen fuel cell stacks 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.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Vendor – Key offerings
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global renewable energy market
      • Table Segments of global renewable energy market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • 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 2018
  • Market segmentation by application
    • Table Application - Market share 2018-2023 (%)
    • Comparison by application
      • Table Comparison by application
    • Stationary - Market size and forecast 2018-2023
      • Table Stationary - Market size and forecast 2018-2023 ($ millions)
      • Table Stationary - Year-over-year growth 2019-2023 (%)
    • Transport - Market size and forecast 2018-2023
      • Table Transport - Market size and forecast 2018-2023 ($ millions)
      • Table Transport - Year-over-year growth 2019-2023 (%)
    • Portable - Market size and forecast 2018-2023
      • Table Portable - Market size and forecast 2018-2023 ($ millions)
      • Table Portable - Year-over-year growth 2019-2023 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • Americas - Market size and forecast 2018-2023
      • Table Americas - Market size and forecast 2018-2023 ($ millions)
      • Table Americas - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • EMEA - Market size and forecast 2018-2023
      • Table EMEA - Market size and forecast 2018-2023 ($ millions)
      • Table EMEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Rising strategic partnerships and R&D activities
    • Growing adoption in material handling applications
    • Increasing adoption of microgrids
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Ballard Power Systems Inc.
      • Table Ballard Power Systems Inc. - Vendor overview
      • Table Ballard Power Systems Inc. - Business segments
      • Table Ballard Power Systems Inc. - Organizational developments
      • Table Ballard Power Systems Inc. - Geographic focus
      • Table Ballard Power Systems Inc. - Key offerings
    • Bing Energy Inc.
      • Table Bing Energy Inc. - Vendor overview
      • Table Bing Energy Inc. - Key offerings
    • Freudenberg SE
      • Table Freudenberg SE - Vendor overview
      • Table Freudenberg SE - Business segments
      • Table Freudenberg SE - Organizational developments
      • Table Freudenberg SE - Geographic focus
      • Table Freudenberg SE - Segment focus
      • Table Freudenberg SE - Key offerings
    • Horizon Fuel Cell Technologies Pte. Ltd.
      • Table Horizon Fuel Cell Technologies Pte. Ltd. - Vendor overview
      • Table Horizon Fuel Cell Technologies Pte. Ltd. - Key offerings
    • Hydrogenics Corp.
      • Table Hydrogenics Corp. - Vendor overview
      • Table Hydrogenics Corp. - Business segments
      • Table Hydrogenics Corp. - Organizational developments
      • Table Hydrogenics Corp. - Geographic focus
      • Table Hydrogenics Corp. - Segment focus
      • Table Hydrogenics Corp. - Key offerings
    • Nuvera Fuel Cells LLC
      • Table Nuvera Fuel Cells LLC - Vendor overview
      • Table Nuvera Fuel Cells LLC - Organizational developments
      • Table Nuvera Fuel Cells LLC - Key offerings
    • Plug Power Inc.
      • Table Plug Power Inc. - Vendor overview
      • Table Plug Power Inc. - Organizational developments
      • Table Plug Power Inc. - Key offerings
    • PowerCell Sweden AB
      • Table PowerCell Sweden AB - Vendor overview
      • Table PowerCell Sweden AB - Organizational developments
      • Table PowerCell Sweden AB - Geographic focus
      • Table PowerCell Sweden AB - Key offerings
    • Proton Power Systems Plc
      • Table Proton Power Systems Plc - Vendor overview
      • Table Proton Power Systems Plc - Business segments
      • Table Proton Power Systems Plc - Organizational developments
      • Table Proton Power Systems Plc - Geographic focus
      • Table Proton Power Systems Plc - Key offerings
    • Sunrise Power Co. Ltd.
      • Table Sunrise Power Co. Ltd. - Vendor overview
      • Table Sunrise Power Co. Ltd. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
      • Table List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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