The global market for fuel cells should grow from $5.7 billion in 2021 to $24.0 billion by 2026 with a compound annual growth rate (CAGR) of 33.5% for the period of 2021-2026.
The Fuel cells market for combined heat and power (CHP) segment should grow from $2.7 billion in 2021 to $14.0 billion by 2026 with a compound annual growth rate (CAGR) of 38.7% for the period of 2021-2026.
The Fuel cells market for auxiliary power units (APU) segment should grow from $1.8 billion in 2021 to $6.6 billion by 2026 with a compound annual growth rate (CAGR) of 29.4% for the period of 2021-2026.
Report Scope
This report will cover fuel cells used specifically in stationary power generation and storage applications. Other applications include portable fuel cells and mobile units that can be used in automotive (not considered in the study).
Definitive and detailed estimates and forecasts of the global market are provided. The report also contains a detailed analysis of the key fuel cell types, regions, countries, applications, and ongoing trends.
The fuel cell market is segmented based on -
- Type of fuel cell
- Application
- End-use segment
Solid oxide fuel cells and proton exchange membrane fuel cells (PEMFC) are the major contributors to the fuel cell market. The applications considered in this study are combined heating and power (CHP), auxiliary power units (APU) and emergency power supply.
The Report Includes:
- 28 data tables and 32 additional tables
- An overview of the global market outlook for fuel cells for residential, commercial, and military power
- Estimation of the market size and analyses of the global market trends, with data from 2020, estimates for 2021, with a projection of CAGR through 2026
- Analysis of new opportunities, challenges, and technological changes within the industry and highlights of the market growth potential by type, end-use, application, and region
- Coverage of history of fuel cells and hydrogen fuel industry, description of competitive technologies and insights into government initiatives to promote fuel cells
- Detailed analysis of the current market trends and forecast, new products launches and product enhancement, technological innovation, upcoming technologies, and the technical progress of the industry
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Company profiles of major players in the market, including Ballard Power Systems, Bloom Energy, Doosan Fuel Cell, General Electric Co., Sumitomo Corp., and Toshiba Fuel Cell Power Systems Corp.
Table of Contents
Chapter 1 Introduction
- Study Goals and Objectives
- Scope of Report
- Information Sources
- Methodology
- What's New in This Update?
- Geographic Breakdown
- Analyst's Credentials
- Custom Research
- Related Reports
Chapter 2 Summary and Highlights
Chapter 3 Market and Technology Overview
- Technical Overview
- History of Fuel Cells
- Hydrogen Fuel Industry
- Market Overview
- Value Chain
- Competitive Technologies
- Government Initiatives to Promote Fuel Cells
Chapter 4 Analysis of the Impact of COVID-19 on the Fuel Cell Market
- Combined Heat and Power
- Employment
- Projects
- Auxiliary and Backup Power
Chapter 5 Market Breakdown by End-Use Segment
- Residential
- Commercial
- Military
Chapter 6 Market Breakdown by Type
- PEMFC
- PEM Technology
- SOFC
- SOFC Technology
- Other Fuel Cell Types
- Alkaline Fuel Cells
- Phosphoric Acid Fuel Cell
- Molten Carbon Fuel Cell
Chapter 7 Market Breakdown by Application
- Combined Heat and Power
- Auxiliary Power Unit
- Residential and Commercial (Generators)
- Recreational and Commercial Vehicles
- Signage
- Anti-Idling APUs
- Aircraft
- Military APUs
- Emergency Power Unit
Chapter 8 Market Breakdown by Region
- APAC
- Japan
- South Korea
- Rest of APAC
- North America
- U.S.
- Europe
Chapter 9 Recent Developments in the Fuel Cell Industry
- Recent Developments
Chapter 10 Company Profiles
- Acal Energy Ltd.
- Acumentrics Holding Corp.
- Adelan Uk Ltd.
- AFC Energy
- Alpps Fuel Cell Systems
- Alstom Technology
- Altergy
- Ariston Holding N.V.
- Babcock & Wilcox
- Ballard Power Systems
- Bloom Energy
- Ceres Power
- Clara Venture Labs
- Cummins Inc.
- Ddi Energy
- Delphi Automotive
- Doosan Fuel Cell
- Edison Electric Institute
- Elcogen As
- Energiened
- Entwicklungs Und Vertriebsgesellschaft Brennstoffzelle
- Fuelcell Energy
- Fuel Cell Technologies
- Fuji Electric
- Future E Fuel Cell Solutions Gmbh
- General Electric Co.
- George Westinghouse Research And Technology Park
- Global Resource Energy Inc.
- Golden Energy Fuel Cell Co. Ltd.
- Haldor Topsoe A/S/Topsoe Fuel Cell
- Horizon Fuel Cells And Riversimple
- H2 Power Tech
- ITM Power
- Intelligent Energy
- Kansai Electric Power Co. Inc.
- Linde Boc
- Loganenergy Corp.
- Meidensha Corp.
- Meridian Energy Ltd.
- Mitsubishi Heavy Industries Ltd.
- National Fuel Cell Research Center
- Neah Power
- Nedstack Fuel Cell Technology
- Nexceris
- Nippon Telegraph & Telephone Corp.
- Ontario Power Generation Inc.
- Palcan Fuel Cells Ltd.
- Panasonic
- Plug Power Inc.
- Pohang Iron And Steel Co. (Posco)
- Proton Motor Fuel Cell Gmbh
- Reliant Energy Power Systems
- Rolls-Royce Fuel Cell Systems Ltd.
- Safcell
- Shell Hydrogen Bv
- Siemens Power Generation Inc.
- Smart Fuel Cell Ag (Sfc)
- Solidpower
- Sofcpower
- Staxera Gmbh (Sunfire)
- Sulzer Hexis Ag
- Sumitomo Corp.
- Tokyo Gas Co. Ltd.
- Toshiba Fuel Cell Power Systems Corp.
- Toyota
- Turkcell
- Ultra Electronics Ami
- United Technologies
- Vaillant Gmbh
- Versa Power Systems Inc.
- Violet Fuel Cell Sticks
- Wartsila Corp.
- Watt Fuel Cell Corp.
- Webasto Ag
- Worldwide Energy Llc
- Ztek Corp.
Chapter 11 Appendix: Acronyms and Sources
List of Tables
Summary Table: Global Market for Fuel Cells, by Application, Through 2026
Table 1: Hydrogen Production Processes
Table 2: Key Hydrogen and Fuel Cell Initiatives
Table 3: Key Hydrogen and Fuel Cell Initiatives
Table 4: Stationary Fuel Cell Applications
Table 5: Global Market for Fuel Cells, by End User, Through 2026
Table 6: Global Market for Fuel Cells in Residential End Uses, by Region, Through 2026
Table 7: Global Market for Fuel Cells in Commercial End Uses, by Region, Through 2026
Table 8: Global Market for Fuel Cells in Military End Uses, by Region, Through 2026
Table 9: Key FC Types and Characteristics
Table 10: Overview of Stationary Fuel Cell Types
Table 11: Global Market for Fuel Cells, by Type, Through 2026
Table 12: Global Market for Proton Exchange Membrane Fuel Cells, by Region, Through 2026
Table 13: Global Market for Proton Exchange Membrane Fuel Cells, by Region, Through 2026
Table 14: Key PEMFC Manufacturers
Table 15: Global Market for Solid Oxide Fuel Cells, by Application, Through 2026
Table 16: Global Market for Solid Oxide Fuel Cells, by Region, Through 2026
Table 17: Key SOFC Manufacturers
Table 18: Global Market for Other Fuel Cell Types, by Application, Through 2026
Table 19: Global Market for Other Fuel Cell Types, by Region, Through 2026
Table 20: Key Manufacturers, Other Types of Fuel Cells
Table 21: Global Market for Fuel Cells, by Application, Through 2026
Table 22: Global Market for Fuel Cells for Combined Heat and Power (CHP) Systems, by FC Type, Through 2026
Table 23: Global Market for Fuel Cells for Combined Heat and Power (CHP) Systems, by Region, Through 2026
Table 24: Cogeneration Applications and Technologies Used
Table 25: Properties of Micro-CHPs
Table 26: Properties of Micro-CHP (<5kW)
Table 27: Performance Characteristics of Large-scale FC CHP
Table 28: Global Market for Fuel Cells for Auxiliary Power Units (APU), by FC Type, Through 2026
Table 29: Global Market for Fuel Cells in Applications of Auxiliary Power Units (APU), by Region, Through 2026
Table 30: Commercial Vehicle Production, 2020
Table 31: Global Market for Fuel Cells for Emergency Power Units, by FC Type, Through 2026
Table 32: Global Market for Fuel Cells for Emergency Power Units, by Region, Through 2026
Table 33: Global Market for Fuel Cells, by Region, Through 2026
Table 34: APAC Market for Fuel Cells, by Country, Through 2026
Table 35: APAC Market for Fuel Cells, by Type, Through 2026
Table 36: APAC Market for Fuel Cells, by Application, Through 2026
Table 37: APAC Market for Fuel Cells, by End User Segment, Through 2026
Table 38: Stationary Fuel Cell Manufacturers in Japan
Table 39: Key Players in South Korean Power Generation Market
Table 40: Stationary FC Units in China
Table 41: North American Market for Fuel Cells, by Type, Through 2026
Table 42: North American Market for Fuel Cells, by Application, Through 2026
Table 43: North American Market for Fuel Cells, by End-User Segment, Through 2026
Table 44: Fuel Cell-Based CHP Installations, U.S.
Table 45: Stationary Fuel Cell Manufacturers, U.S., May 2019
Table 46: European Market for Fuel Cells, by Type, Through 2026
Table 47: Deployment Plans, FCH Applications, EU Participating Regions
Table 48: European Market for Fuel Cells, by Application, Through 2026
Table 49: European Market for Fuel Cells, by End-User Segment, Through 2026
Table 50: Key New Product Developments, Fuel Cell Industry, 2019
Table 51: Publicly Disclosed Large-Scale Orders and Installations, 2019
Table 52: Publicly Announced 2019 Portable/Off-Grid Sales and Orders, 2019
Table 53: Products Offered by AFC Energy
Table 54: Products Offered by Ballard Power Systems
Table 55: Products Offered by Bloom Energy
Table 56: Products Offered by Ceres Power
Table 57: Products Offered by Doosan Fuel Cell
Table 58: Acronyms Used in the Stationary Fuel Cell Market
Table 59: Report Sources
List of Figures
Summary Figure: Global Market for Fuel Cells, by Application, 2020-2026
Figure 1: Fuel Cell Value Chain
Figure 2: Micro CHP Value Chain Trend, 2020 and 2030
Figure 3: Large-Scale CHP Value Chain Trend, 2020 and 2030
Figure 4: Overall Global Impact of COVID-19 on CHP Business
Figure 5: Employees Laid Off or Fulgurated Without Pay, Global Share
Figure 6: Percent of Projects Delayed for Those Experiencing Delays
Figure 7: Typical Fuel Cell Application, by Wattage
Figure 8: Global Market for Fuel Cells, by End User, 2020-2026
Figure 9: Global Market Shares of Fuel Cells in Residential End Uses, by Region, 2020
Figure 10: Global Market Shares of Fuel Cells for Commercial End Uses, by Region, 2020
Figure 11: Global Market Shares of Fuel Cells in Military End Uses, by Region, 2020
Figure 12: Types of Fuel Cells and Suitable Applications
Figure 13: Global Market for Fuel Cells, by Type, 2020-2026
Figure 14: Global Market for Proton Exchange Membrane Fuel Cells, by Application, 2020-2026
Figure 15: Schematic Diagram of PEMFC
Figure 16: Schematic Diagram of DMFC
Figure 17: Global Market for Solid Oxide Fuel Cells, by Region, 2020-2026
Figure 18: Planar SOFC Configuration
Figure 19: Thin-Film SOFC Configuration
Figure 20: Tubular SOFC Configuration
Figure 21: Global Market for Other Fuel Cell Types, by Region, 2020-2026
Figure 22: Working Model of MCFC
Figure 23: Cumulative Global Deployment of Large-Scale Stationary FC (>200 kW), by Type, 2007-2017
Figure 24: Global Market Shares of Fuel Cells, by Application, 2020
Figure 25: Typical Combustion Engine-Based CHP System
Figure 26: Fuel Cell-Based CHP System
Figure 27: Advantage of Combined Heat and Power Generation Using Fuel Cells
Figure 28: Global Market for Fuel Cells, by Region, 2020-2026
Figure 29: APAC Market for Fuel Cells, by Country, 2020-2026
Figure 30: APAC Market for Fuel Cells, by Type, 2020-2026
Figure 31: APAC Market Shares of Fuel Cells, by Application, 2020-2026
Figure 32: APAC Market Shares of Fuel Cells, by End-User Segment, 2020
Figure 33: ENE-FARM Unit Mechanism
Figure 34: ENE-FARM Cost and Subsidies
Figure 35: Global Market for Stationary Fuel Cells, by Type, 2020-2026
Figure 36: Strategy and Roadmap, Japan, Hydrogen and Fuel Cells, 2020-2030
Figure 37: Strategy and Roadmap of South Korea for Hydrogen and Fuel Cells, 2020-2035
Figure 38: Stationary Fuel Cell Power Generation in South Korea, by Application, 2019
Figure 39: Fuel Cell Power Generation in South Korea, by Province, 2019
Figure 40: North American Market for Fuel Cells, by Type, 2020-2026
Figure 41: Cumulative Deployment of Large-Scale Stationary Fuel Cells in the U.S.
Figure 42: North American Market Shares of Fuel Cells, by Application, 2020
Figure 43: North American Market Shares of Fuel Cells, by End-User Segment, 2020
Figure 44: Fuel Cell Installations as Backup Power, U.S., 2016
Figure 45: European Market for Fuel Cells, by Type, 2020-2026
Figure 46: Cumulative Deployment, Large-Scale Stationary Fuel Cells, Europe
Figure 47: European Market Shares of Fuel Cells, by Application, 2020
Figure 48: European Market Shares of Fuel Cells, by End-User Segment, 2020
Figure 49: Ballard Power Systems, 2020
Figure 50: Bloom Energy, 2020
Figure 51: Doosan Fuel Cell, 2019 and 2020
Samples
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Companies Mentioned
- Acal Energy Ltd.
- Acumentrics Holding Corp.
- Adelan Uk Ltd.
- AFC Energy
- Alpps Fuel Cell Systems
- Alstom Technology
- Altergy
- Ariston Holding N.V.
- Babcock & Wilcox
- Ballard Power Systems
- Bloom Energy
- Ceres Power
- Clara Venture Labs
- Cummins Inc.
- Ddi Energy
- Delphi Automotive
- Doosan Fuel Cell
- Edison Electric Institute
- Elcogen As
- Energiened
- Entwicklungs Und Vertriebsgesellschaft Brennstoffzelle
- Fuel Cell Technologies
- Fuelcell Energy
- Fuji Electric
- Future E Fuel Cell Solutions Gmbh
- General Electric Co.
- George Westinghouse Research And Technology Park
- Global Resource Energy Inc.
- Golden Energy Fuel Cell Co. Ltd.
- H2 Power Tech
- Haldor Topsoe A/S/Topsoe Fuel Cell
- Horizon Fuel Cells And Riversimple
- Intelligent Energy
- ITM Power
- Kansai Electric Power Co. Inc.
- Linde Boc
- Loganenergy Corp.
- Meidensha Corp.
- Meridian Energy Ltd.
- Mitsubishi Heavy Industries Ltd.
- National Fuel Cell Research Center
- Neah Power
- Nedstack Fuel Cell Technology
- Nexceris
- Nippon Telegraph & Telephone Corp.
- Ontario Power Generation Inc.
- Palcan Fuel Cells Ltd.
- Panasonic
- Plug Power Inc.
- Pohang Iron And Steel Co. (Posco)
- Proton Motor Fuel Cell Gmbh
- Reliant Energy Power Systems
- Rolls-Royce Fuel Cell Systems Ltd.
- Safcell
- Shell Hydrogen Bv
- Siemens Power Generation Inc.
- Smart Fuel Cell Ag (Sfc)
- Sofcpower
- Solidpower
- Staxera Gmbh (Sunfire)
- Sulzer Hexis Ag
- Sumitomo Corp.
- Tokyo Gas Co. Ltd.
- Toshiba Fuel Cell Power Systems Corp.
- Toyota
- Turkcell
- Ultra Electronics Ami
- United Technologies
- Vaillant Gmbh
- Versa Power Systems Inc.
- Violet Fuel Cell Sticks
- Wartsila Corp.
- Watt Fuel Cell Corp.
- Webasto Ag
- Worldwide Energy Llc
- Ztek Corp.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 217 |
| Published | January 2022 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value ( USD | $ 5.7 Billion |
| Forecasted Market Value ( USD | $ 24 Billion |
| Compound Annual Growth Rate | 33.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 76 |
