Fuel Cells Market Report 2025: More Than 18,000 Hydrogen Fuel Cell Vehicles Sold So Far - Global Long-term Forecasts to 2039 - ResearchAndMarkets.com

The "Global Market for Fuel Cells 2025" report has been added to ResearchAndMarkets.com's offering.

With the advent of fuel cells, the world is on the cusp of transformation in the electricity generation landscape. Fuel cells, increasingly used as a power source, will produce 450 gigawatts of electricity by 2039, mainly from using hydrogen as fuel. Over the next 15 years, the fuel cells will generate over $536 billion in revenue.

Fuel cells are electrochemical energy conversion devices that are poised to replace traditional sources of energy. There are several types of fuel cells, but this study focuses on the major ones. Currently, the market is spearheaded by LT-PEMFC for mobile applications, and SOFC for stationary applications, and they will continue to be dominant for the next 15 years which is the forecast period of this study.

Hydrogen is the fuel of the future. Its use represents a shift away from fossil fuels, currently the main electricity production source. Increasingly, more and more electricity is being produced from fuel cells with hydrogen as the fuel. This study provides in-depth coverage of six types of widely used fuel cells.

Low-temperature fuel cells, mainly proton exchange membrane, are used for driving cars, trucks, and buses. Hydrogen is the cleanest form of fuel because it emits water vapor from the tailpipe of vehicles instead of toxic gases. High-temperature fuel cells, particularly solid oxide, are used mainly for stationary applications. Currently, high-temperature fuel cells are used for emergency and backup power, and their use in other applications will grow.

The low-temperature fuel cell segment dominates the hydrogen fuel cell market. This type of fuel cell is used widely in mobile and portable applications, giving it a substantial market share. On the other hand, SOFC, which is commonly used in stationary applications, has been growing very rapidly. SOFCs operate at high temperatures, eliminating the need for expensive catalysts.

Hydrogen's potential as a versatile energy carrier is the key to a sustainable and decentralized energy system. Collaborative efforts, technological advancements, and infrastructure development are essential to fully exploit the potential of hydrogen as an energy carrier. By harnessing hydrogen produced from renewable sources, the world can achieve zero-carbon emissions and make a transition to a sustainable clean energy future.

Regarding applications, the stationary segment will remain the most popular application during the forecast period. Fuel cells' high efficiency and ability to use various fuels drive this popularity.

In addition, fuel cell technology can be used in virtually every kind of transportation, including cars, trucks, buses, forklifts, motorcycles, bicycles, airplanes, ships, submarines, and trams. The transportation sector is experiencing rapid growth as fuel cells are increasingly used to power all kinds of vehicles.

Rising demand for clean energy for generating power for automobiles and for stationary applications, coupled with increasing R&D, is fueling the growth of fuel cells.

Key Topics Covered:

1.0 Summary & Scope

1.1 Executive Summary

1.2 Scope of the Study

1.3 List of Acronyms

2.0 Fuel Cell Technology

2.1 Fuel Cell Basics

2.1.1 Fuel Cell Definition & Background

2.1.2 Parts of a Fuel Cell System

2.1.3 Fuel Cell Components

2.1.4 Fuel Cell Stacks, Fuels, & Feedstocks

2.1.5 Significance of Fuel Cells

2.1.6 Key Drivers

2.2 Fuel Cell Classification & Description

2.2.1 Classification of Fuel Cells

2.2.2 Technology Characteristics

2.2.3 Fuel Cells & Microgrids

2.2.4 Fuels Used in Fuel Cells

2.2.5 Space Needed by Fuel Cell Installations

2.3 Technological Developments

2.3.1 Versatility

2.3.2 Robustness & Reliability

2.3.3 High-Power-Density Fuel Cells

2.3.4 Catalyst Improvements

2.3.5 Integration with Renewable Energy

2.3.6 Integration with Batteries

2.3.7 Fuel Cell Durability & Lifespan

2.3.8 Environmental Benefits

2.4 Fuel Cell Technology Challenges

2.4.1 Fuel Cell Degradation

2.4.2 Lack of Hydrogen Production & Infrastructure

2.4.3 Competing Technologies

2.4.4 Financial & Supply Chain Vulnerabilities

2.4.5 Lack of Public Awareness

2.4.6 Other Technology Challenges

2.5 Fuel Cells Power Capacity

2.5.1 Fuel Cells vs. Batteries

2.5.2 Energy & Power Density

2.5.3 Power Output

2.5.4 Peak Power

3.0 Trends Shaping the Market

3.1 Shift Toward Renewable Energy

3.2 Government Support & International Collaboration

3.3 Fuel Cell Costs

3.4 Advances in Hydrogen Production

3.5 Falling Price of Hydrogen

4.0 Fuel Cells by Application

4.1 Mobile & Portable Fuel Cell Types

4.1.1 Mobile (Transportation) Fuel Cells

4.1.2 Portable Fuel Cells

4.2 Stationary Fuel Cells

4.2.1 Stationary Fuel Cell Types

4.2.2 Stationary Fuel Cell Attributes

4.2.3 Stationary Fuel Cell Applications

5.0 PEMFCs

5.1 LT-PEMFCs

5.1.1 LT-PEMFCs Working Principle

5.1.2 LT-PEMFC Characteristics

5.1.3 LT-PEMFC Applications

5.1.4 LT-PEMFC Mobile Applications

5.1.5 LT-PEMFC Stationary Applications

5.1.6 LT-PEMFC Strengths

5.1.7 LT-PEMFC Limitations & Challenges

5.1.8 LT-PEMFC Regional Deployments

5.1.9 LT-PEMFC Cost

5.1.10 LT-PEMFC Vendors

5.2 HT-PEMFCs

5.2.1 HT-PEMFC Fundamentals

5.2.2 HT-PEMFC Working Principle

5.2.3 Applications of HT-PEMFCs

5.2.4 HT-PEMFC & Aviation

5.2.5 HT-PEMFC Strengths

5.2.6 Limitations of HT-PEMFCs

5.2.7 Regional Deployments

5.2.8 HT-PEMFC Costs

5.2.9 Manufacturers of HT-PEMFC Systems

5.3 PEMFC Assessment

5.3.1 LT-PEMFC

5.3.2 HT-PEMFC

6.0 DMFCs

6.1 Description

6.2 Working Principle

6.3 Characteristics

6.4 Applications

6.4.1 Mobile/Portable Applications

6.4.2 Stationary Applications

6.5 Strengths

6.6 Limitations & Challenges

6.7 Regional Deployments

6.8 Costs

6.9 LT-PEMFCs vs. DMFCs Costs

6.10 DMFC Manufacturers

6.11 DMFC Assessment

7.0 AFCs

7.1 Description

7.2 Characteristics

7.3 Working Principle

7.4 Applications

7.5 Advantages

7.6 Challenges & Limitations

7.7 Costs

7.8 Manufacturers of AFCs

7.9 AFC Assessment

7.10 AFCs & LT-PEMFCs

8.0 SOFCs

8.1 Description

8.2 Working Principle

8.3 SOFC's Characteristics

8.4 SOFC Applications

8.4.1 Mobile/Portable

8.4.2 Stationary

8.5 Strengths & Advantages

8.6 Challenges & Limitations

8.7 Costs

8.8 SOFC Vendors

9.0 MCFCs

9.1 Description

9.2 Working Principle

9.3 Characteristics

9.4 Applications of MCFCs

9.5 Advantages

9.6 Challenges & Limitations

9.7 Costs of MCFC

9.8 Manufacturers

9.9 MCFC Assessment

9.10 Comparing DMFCs & MCFCs

9.11 Comparing SOFCs & MCFCs

10.0 PAFCs

10.1 Description

10.2 Working Principle

10.3 Characteristics

10.4 Applications of PAFCs

10.5 Advantages

10.6 Challenges & Limitations

10.7 Costs

10.8 PAFC Vendors

10.9 PAFCs Assessment

11.0 Other Types of Fuel Cells

11.1 Direct Ethanol Fuel Cells (DEFCs)

11.2 Biogas Fuel Cells (BGFC)

11.3 Sulfuric Acid Fuel Cells (SAFCs)

11.4 Reversible Fuel Cells (RFC)

11.4.1 Description of a Reversible Fuel Cell

11.4.2 Types of Reversible Fuel Cells

11.4.3 Characteristics of Reversible Fuel Cells

12.0 Fuel Cell Vendors

12.1 Mergers & Acquisitions

12.2 Vendor Profiles

12.2.1 AFC Energy PLC

12.2.2 Ballard Power Systems

12.2.3 Bloom Energy Profile

12.2.4 Ceres Power Profile

12.2.5 Cummins Inc.

12.2.6 Doosan Fuel Cell

12.2.7 FuelCell Energy

12.2.8 Hyundai Motor

12.2.9 Intelligent Energy

12.2.10 Nedstack

12.2.11 Nissan Motors

12.2.12 Panasonic Corporation

12.2.13 Plug Power

12.2.14 PowerCell Sweden AB

12.2.15 Pragma Industries

12.2.16 Toshiba Energy Systems

12.2.17 Toyota

12.2.18 Other Fuel Cell Vendors

13.0 Regional Analysis

13.1 Asia Pacific

13.1.1 China

13.1.2 Japan

13.1.3 South Korea

13.1.4 India

13.1.5 Other APAC Countries

13.2 EMEA

13.2.1 Germany

13.2.2 France

13.2.3 U.K.

13.2.4 The Netherlands

13.2.5 Africa & the Middle East

13.3 Americas

13.3.1 U.S.

13.3.2 Canada

13.3.3 CALA

14.0 Fuel Cells Market & Forecasts

14.1 Unit Sales of Fuel Cells by Region

14.2 Unit Sales of Fuel Cells by Type

14.3 Fuel Cell Unit Sales by Temperature Group

14.4 Revenue Forecast

14.4.1 Fuel Cells Revenue by Region

14.4.2 Revenue Share by Region

14.4.3 Revenue Share by Fuel Cell Type

14.4.4 CAGR by Fuel Cell Types

14.4.5 Revenue by Temperature Group

15.0 Conclusion

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