According to a market report by Lucintel, the future of the global hydrogen fuel cell market looks promising with opportunities in the stationary, transportation, and portable applications. The global hydrogen fuel cell market is expected to reach an estimated $22 billion by 2030 from $4.2 billion in 2023,at a CAGR of 27% from 2023 to 2030. The major drivers for this market are increase in subsidy policy by the central and local governments on electric vehicles, increasing production of hydrogen fuel-cell vehicles, and various initiatives taken by the governments to curb greenhouse gases.
A total of less than 200 pages report to understand trends, opportunity and forecast in hydrogen fuel cell market to 2030 by product type (air-cooled type and liquid-cooled type), application (stationary, transportation, and portable), technology (proton exchange membrane fuel cells (PEMFC), phosphoric acid fuel cells (PAFC), solid oxide fuel cells (SOFC), direct methanol fuel cells (DMFC), molten carbonate fuel cells (MCFC)), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that air-cooled type will remain the fastest growing segment over the forecast period.
Within this market, transportation is expected to remain the highest growing segment due to rising demand for hydrogen fuel cell automobiles and hydrogen fuel cell powered forklifts, and the industry is expected to expand as a result of increased research and development activities in developed and developing countries to produce hydrogen-powered hybrid vehicles.
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APAC will remain the largest region due to government support and strategic investments.
Fuel Cell Energy, Cummins, Ballard Power Systems, Plug Power, Bloom Energy, AFC Energy, Dossan Fuel Cell, Panasonic Holding Corporation, Intelligent Energy Limited, Pearl Hydrogenare the major suppliers in the hydrogen fuel cell market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]To get access of more than 1000 reports at fraction of cost visit Lucintel'sanalytics dashboard.
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Lucintel
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