연료전지 : 세계 시장 점유율과 순위, 총판매량 및 수요 예측(2025-2031년)

The global market for Fuel Cell was estimated to be worth US$ 6388 million in 2024 and is forecast to a readjusted size of US$ 32112 million by 2031 with a CAGR of 27.8% during the forecast period 2025-2031.

This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Fuel Cell cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.

A fuel cell is an energy conversion device that continuously converts chemical energy in a fuel into electrical energy, as long as both the fuel and oxidant are available. It exhibits advantageous characteristics exceeding conventional combustion-based technologies that are currently applied in certain critical fields, such as electronic, housing power, power plants, passenger vehicles, as well as military applications. In 2024, global fuel cell production reached approximately 3,216.52 MW, with an average global market price of around US$ 1,986 per KW

Operating with higher efficiency than combustion engines, fuel cells demonstrate an electrical energy conversion efficiency of 60% or more, with lower emissions. Water is the only product of the power generation process in hydrogen fuel cells, and thus there are no carbon dioxide emissions or air pollutants that create smog and cause health problems during operation. Moreover, fuel cells emit low noise during operation, because they contain fewer moving parts. Fuel cells come in many varieties, but they all work in generally the same manner. In essence, a fuel cell consists of three adjacent segments, namely, the anode, electrolyte, and cathode. When hydrogen undergoes an oxidation reaction at the anode (), it generates cations that migrate to the cathode through the electrolyte and free electrons that flow the external circuit. Contrarily, a reduction reaction occurs at the cathode, where oxygen is reduced to water by the cations and electrons (Ralph et al., 1998). The electrochemical reaction that occurs at the cathode is . Based on the type of electrolyte used, fuel cells can be categorized into alkaline fuel cells (AFCs), PEMFCs, phosphoric acid fuel cells (PAFCs), molten carbonate fuel cells (MCFCs), and solid oxide fuel cells (SOFCs).

This report aims to provide a comprehensive presentation of the global market for Fuel Cell, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Fuel Cell by region & country, by Type, and by Application.

The Fuel Cell market size, estimations, and forecasts are provided in terms of sales volume (MW) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Fuel Cell.

Market Segmentation

By Company

• Bloom Energy
• Panasonic
• Plug Power
• Toshiba ESS
• Aisin Seiki
• Toyota
• Ballard
• Hyundai Mobis
• SinoHytec
• Mitsubishi
• Cummins (Hydrogenics)
• Pearl Hydrogen
• CHEM
• SOLIDpower
• Sunrise Power
• Hyster-Yale Group

Segment by Type

• PEMFCs
• SOFC
• MCFC
• PAFC
• Others

Segment by Application

• Transport
• Stationary
• Portable

By Region

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • South Korea
  • Southeast Asia
  • India
  • Australia
  • Rest of Asia-Pacific
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Netherlands
  • Nordic Countries
  • Rest of Europe
• Latin America
  • Mexico
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • Turkey
  • Saudi Arabia
  • UAE
  • Rest of MEA

Chapter Outline

Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 2: Detailed analysis of Fuel Cell manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 5: Sales, revenue of Fuel Cell in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 6: Sales, revenue of Fuel Cell in country level. It provides sigmate data by Type, and by Application for each country/region.

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 9: Conclusion.

Table of Contents

1 Market Overview

• 1.1 Fuel Cell Product Introduction
• 1.2 Global Fuel Cell Market Size Forecast
  • 1.2.1 Global Fuel Cell Sales Value (2020-2031)
  • 1.2.2 Global Fuel Cell Sales Volume (2020-2031)
  • 1.2.3 Global Fuel Cell Sales Price (2020-2031)
• 1.3 Fuel Cell Market Trends & Drivers
  • 1.3.1 Fuel Cell Industry Trends
  • 1.3.2 Fuel Cell Market Drivers & Opportunity
  • 1.3.3 Fuel Cell Market Challenges
  • 1.3.4 Fuel Cell Market Restraints
• 1.4 Assumptions and Limitations
• 1.5 Study Objectives
• 1.6 Years Considered

2 Competitive Analysis by Company

• 2.1 Global Fuel Cell Players Revenue Ranking (2024)
• 2.2 Global Fuel Cell Revenue by Company (2020-2025)
• 2.3 Global Fuel Cell Players Sales Volume Ranking (2024)
• 2.4 Global Fuel Cell Sales Volume by Company Players (2020-2025)
• 2.5 Global Fuel Cell Average Price by Company (2020-2025)
• 2.6 Key Manufacturers Fuel Cell Manufacturing Base and Headquarters
• 2.7 Key Manufacturers Fuel Cell Product Offered
• 2.8 Key Manufacturers Time to Begin Mass Production of Fuel Cell
• 2.9 Fuel Cell Market Competitive Analysis
  • 2.9.1 Fuel Cell Market Concentration Rate (2020-2025)
  • 2.9.2 Global 5 and 10 Largest Manufacturers by Fuel Cell Revenue in 2024
  • 2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Fuel Cell as of 2024)
• 2.10 Mergers & Acquisitions, Expansion

3 Segmentation by Type

• 3.1 Introduction by Type
  • 3.1.1 PEMFCs
  • 3.1.2 SOFC
  • 3.1.3 MCFC
  • 3.1.4 PAFC
  • 3.1.5 Others
• 3.2 Global Fuel Cell Sales Value by Type
  • 3.2.1 Global Fuel Cell Sales Value by Type (2020 VS 2024 VS 2031)
  • 3.2.2 Global Fuel Cell Sales Value, by Type (2020-2031)
  • 3.2.3 Global Fuel Cell Sales Value, by Type (%) (2020-2031)
• 3.3 Global Fuel Cell Sales Volume by Type
  • 3.3.1 Global Fuel Cell Sales Volume by Type (2020 VS 2024 VS 2031)
  • 3.3.2 Global Fuel Cell Sales Volume, by Type (2020-2031)
  • 3.3.3 Global Fuel Cell Sales Volume, by Type (%) (2020-2031)
• 3.4 Global Fuel Cell Average Price by Type (2020-2031)

4 Segmentation by Application

• 4.1 Introduction by Application
  • 4.1.1 Transport
  • 4.1.2 Stationary
  • 4.1.3 Portable
• 4.2 Global Fuel Cell Sales Value by Application
  • 4.2.1 Global Fuel Cell Sales Value by Application (2020 VS 2024 VS 2031)
  • 4.2.2 Global Fuel Cell Sales Value, by Application (2020-2031)
  • 4.2.3 Global Fuel Cell Sales Value, by Application (%) (2020-2031)
• 4.3 Global Fuel Cell Sales Volume by Application
  • 4.3.1 Global Fuel Cell Sales Volume by Application (2020 VS 2024 VS 2031)
  • 4.3.2 Global Fuel Cell Sales Volume, by Application (2020-2031)
  • 4.3.3 Global Fuel Cell Sales Volume, by Application (%) (2020-2031)
• 4.4 Global Fuel Cell Average Price by Application (2020-2031)

5 Segmentation by Region

• 5.1 Global Fuel Cell Sales Value by Region
  • 5.1.1 Global Fuel Cell Sales Value by Region: 2020 VS 2024 VS 2031
  • 5.1.2 Global Fuel Cell Sales Value by Region (2020-2025)
  • 5.1.3 Global Fuel Cell Sales Value by Region (2026-2031)
  • 5.1.4 Global Fuel Cell Sales Value by Region (%), (2020-2031)
• 5.2 Global Fuel Cell Sales Volume by Region
  • 5.2.1 Global Fuel Cell Sales Volume by Region: 2020 VS 2024 VS 2031
  • 5.2.2 Global Fuel Cell Sales Volume by Region (2020-2025)
  • 5.2.3 Global Fuel Cell Sales Volume by Region (2026-2031)
  • 5.2.4 Global Fuel Cell Sales Volume by Region (%), (2020-2031)
• 5.3 Global Fuel Cell Average Price by Region (2020-2031)
• 5.4 North America
  • 5.4.1 North America Fuel Cell Sales Value, 2020-2031
  • 5.4.2 North America Fuel Cell Sales Value by Country (%), 2024 VS 2031
• 5.5 Europe
  • 5.5.1 Europe Fuel Cell Sales Value, 2020-2031
  • 5.5.2 Europe Fuel Cell Sales Value by Country (%), 2024 VS 2031
• 5.6 Asia Pacific
  • 5.6.1 Asia Pacific Fuel Cell Sales Value, 2020-2031
  • 5.6.2 Asia Pacific Fuel Cell Sales Value by Region (%), 2024 VS 2031
• 5.7 South America
  • 5.7.1 South America Fuel Cell Sales Value, 2020-2031
  • 5.7.2 South America Fuel Cell Sales Value by Country (%), 2024 VS 2031
• 5.8 Middle East & Africa
  • 5.8.1 Middle East & Africa Fuel Cell Sales Value, 2020-2031
  • 5.8.2 Middle East & Africa Fuel Cell Sales Value by Country (%), 2024 VS 2031

6 Segmentation by Key Countries/Regions

• 6.1 Key Countries/Regions Fuel Cell Sales Value Growth Trends, 2020 VS 2024 VS 2031
• 6.2 Key Countries/Regions Fuel Cell Sales Value and Sales Volume
  • 6.2.1 Key Countries/Regions Fuel Cell Sales Value, 2020-2031
  • 6.2.2 Key Countries/Regions Fuel Cell Sales Volume, 2020-2031
• 6.3 United States
  • 6.3.1 United States Fuel Cell Sales Value, 2020-2031
  • 6.3.2 United States Fuel Cell Sales Value by Type (%), 2024 VS 2031
  • 6.3.3 United States Fuel Cell Sales Value by Application, 2024 VS 2031
• 6.4 Europe
  • 6.4.1 Europe Fuel Cell Sales Value, 2020-2031
  • 6.4.2 Europe Fuel Cell Sales Value by Type (%), 2024 VS 2031
  • 6.4.3 Europe Fuel Cell Sales Value by Application, 2024 VS 2031
• 6.5 China
  • 6.5.1 China Fuel Cell Sales Value, 2020-2031
  • 6.5.2 China Fuel Cell Sales Value by Type (%), 2024 VS 2031
  • 6.5.3 China Fuel Cell Sales Value by Application, 2024 VS 2031
• 6.6 Japan
  • 6.6.1 Japan Fuel Cell Sales Value, 2020-2031
  • 6.6.2 Japan Fuel Cell Sales Value by Type (%), 2024 VS 2031
  • 6.6.3 Japan Fuel Cell Sales Value by Application, 2024 VS 2031
• 6.7 South Korea
  • 6.7.1 South Korea Fuel Cell Sales Value, 2020-2031
  • 6.7.2 South Korea Fuel Cell Sales Value by Type (%), 2024 VS 2031
  • 6.7.3 South Korea Fuel Cell Sales Value by Application, 2024 VS 2031
• 6.8 Southeast Asia
  • 6.8.1 Southeast Asia Fuel Cell Sales Value, 2020-2031
  • 6.8.2 Southeast Asia Fuel Cell Sales Value by Type (%), 2024 VS 2031
  • 6.8.3 Southeast Asia Fuel Cell Sales Value by Application, 2024 VS 2031
• 6.9 India
  • 6.9.1 India Fuel Cell Sales Value, 2020-2031
  • 6.9.2 India Fuel Cell Sales Value by Type (%), 2024 VS 2031
  • 6.9.3 India Fuel Cell Sales Value by Application, 2024 VS 2031

7 Company Profiles

• 7.1 Bloom Energy
  • 7.1.1 Bloom Energy Company Information
  • 7.1.2 Bloom Energy Introduction and Business Overview
  • 7.1.3 Bloom Energy Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.1.4 Bloom Energy Fuel Cell Product Offerings
  • 7.1.5 Bloom Energy Recent Development
• 7.2 Panasonic
  • 7.2.1 Panasonic Company Information
  • 7.2.2 Panasonic Introduction and Business Overview
  • 7.2.3 Panasonic Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.2.4 Panasonic Fuel Cell Product Offerings
  • 7.2.5 Panasonic Recent Development
• 7.3 Plug Power
  • 7.3.1 Plug Power Company Information
  • 7.3.2 Plug Power Introduction and Business Overview
  • 7.3.3 Plug Power Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.3.4 Plug Power Fuel Cell Product Offerings
  • 7.3.5 Plug Power Recent Development
• 7.4 Toshiba ESS
  • 7.4.1 Toshiba ESS Company Information
  • 7.4.2 Toshiba ESS Introduction and Business Overview
  • 7.4.3 Toshiba ESS Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.4.4 Toshiba ESS Fuel Cell Product Offerings
  • 7.4.5 Toshiba ESS Recent Development
• 7.5 Aisin Seiki
  • 7.5.1 Aisin Seiki Company Information
  • 7.5.2 Aisin Seiki Introduction and Business Overview
  • 7.5.3 Aisin Seiki Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.5.4 Aisin Seiki Fuel Cell Product Offerings
  • 7.5.5 Aisin Seiki Recent Development
• 7.6 Toyota
  • 7.6.1 Toyota Company Information
  • 7.6.2 Toyota Introduction and Business Overview
  • 7.6.3 Toyota Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.6.4 Toyota Fuel Cell Product Offerings
  • 7.6.5 Toyota Recent Development
• 7.7 Ballard
  • 7.7.1 Ballard Company Information
  • 7.7.2 Ballard Introduction and Business Overview
  • 7.7.3 Ballard Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.7.4 Ballard Fuel Cell Product Offerings
  • 7.7.5 Ballard Recent Development
• 7.8 Hyundai Mobis
  • 7.8.1 Hyundai Mobis Company Information
  • 7.8.2 Hyundai Mobis Introduction and Business Overview
  • 7.8.3 Hyundai Mobis Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.8.4 Hyundai Mobis Fuel Cell Product Offerings
  • 7.8.5 Hyundai Mobis Recent Development
• 7.9 SinoHytec
  • 7.9.1 SinoHytec Company Information
  • 7.9.2 SinoHytec Introduction and Business Overview
  • 7.9.3 SinoHytec Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.9.4 SinoHytec Fuel Cell Product Offerings
  • 7.9.5 SinoHytec Recent Development
• 7.10 Mitsubishi
  • 7.10.1 Mitsubishi Company Information
  • 7.10.2 Mitsubishi Introduction and Business Overview
  • 7.10.3 Mitsubishi Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.10.4 Mitsubishi Fuel Cell Product Offerings
  • 7.10.5 Mitsubishi Recent Development
• 7.11 Cummins (Hydrogenics)
  • 7.11.1 Cummins (Hydrogenics) Company Information
  • 7.11.2 Cummins (Hydrogenics) Introduction and Business Overview
  • 7.11.3 Cummins (Hydrogenics) Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.11.4 Cummins (Hydrogenics) Fuel Cell Product Offerings
  • 7.11.5 Cummins (Hydrogenics) Recent Development
• 7.12 Pearl Hydrogen
  • 7.12.1 Pearl Hydrogen Company Information
  • 7.12.2 Pearl Hydrogen Introduction and Business Overview
  • 7.12.3 Pearl Hydrogen Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.12.4 Pearl Hydrogen Fuel Cell Product Offerings
  • 7.12.5 Pearl Hydrogen Recent Development
• 7.13 CHEM
  • 7.13.1 CHEM Company Information
  • 7.13.2 CHEM Introduction and Business Overview
  • 7.13.3 CHEM Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.13.4 CHEM Fuel Cell Product Offerings
  • 7.13.5 CHEM Recent Development
• 7.14 SOLIDpower
  • 7.14.1 SOLIDpower Company Information
  • 7.14.2 SOLIDpower Introduction and Business Overview
  • 7.14.3 SOLIDpower Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.14.4 SOLIDpower Fuel Cell Product Offerings
  • 7.14.5 SOLIDpower Recent Development
• 7.15 Sunrise Power
  • 7.15.1 Sunrise Power Company Information
  • 7.15.2 Sunrise Power Introduction and Business Overview
  • 7.15.3 Sunrise Power Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.15.4 Sunrise Power Fuel Cell Product Offerings
  • 7.15.5 Sunrise Power Recent Development
• 7.16 Hyster-Yale Group
  • 7.16.1 Hyster-Yale Group Company Information
  • 7.16.2 Hyster-Yale Group Introduction and Business Overview
  • 7.16.3 Hyster-Yale Group Fuel Cell Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.16.4 Hyster-Yale Group Fuel Cell Product Offerings
  • 7.16.5 Hyster-Yale Group Recent Development

8 Industry Chain Analysis

• 8.1 Fuel Cell Industrial Chain
• 8.2 Fuel Cell Upstream Analysis
  • 8.2.1 Key Raw Materials
  • 8.2.2 Raw Materials Key Suppliers
  • 8.2.3 Manufacturing Cost Structure
• 8.3 Midstream Analysis
• 8.4 Downstream Analysis (Customers Analysis)
• 8.5 Sales Model and Sales Channels
  • 8.5.1 Fuel Cell Sales Model
  • 8.5.2 Sales Channel
  • 8.5.3 Fuel Cell Distributors

9 Research Findings and Conclusion

10 Appendix

• 10.1 Research Methodology
  • 10.1.1 Methodology/Research Approach
    • 10.1.1.1 Research Programs/Design
    • 10.1.1.2 Market Size Estimation
    • 10.1.1.3 Market Breakdown and Data Triangulation
  • 10.1.2 Data Source
    • 10.1.2.1 Secondary Sources
    • 10.1.2.2 Primary Sources
• 10.2 Author Details
• 10.3 Disclaimer