Fuel Cell Market worth $18.16 billion by 2030 | MarketsandMarkets™

DELRAY BEACH, Fla., July 8, 2025 /PRNewswire/ -- The global Fuel Cell Market is anticipated to grow from estimated USD 5.66 billion in 2025 to USD 18.16 billion by 2030, at a CAGR of 26.3% during the forecast period. The Fuel Cell Market is influenced by the growing desire for clean, efficient, and flexible energy solutions, driven by global carbon-neutrality objectives and the need for decarbonizing sectors such as transportation and power generation. Fuel cells provide zero-emission energy and are not limited in their efficiency and scalability; hence, they are increasingly viewed as a key technology to accelerate the global energy transition. This shifting momentum has resulted in both more and faster investment and construction (of fuel cell manufacturing facilities), pilot deployments, and infrastructure build out. Although consumption of hydrogen is still regional (i.e., Asia Pacific, Europe, and North America), investor momentum, government funding, policies and mandates, hydrogen strategies, and clean energy commitments are transforming the market and attracting hundreds of millions of dollars in capital investment from both the private and public sectors. In addition, the evolution of environmental sustainability goals will facilitate the adoption of advanced next-generation materials, lower costs for stacks, the integration of green hydrogen, and further innovation in the industry, paving the way for continuous and sustainable long-term growth in the Fuel Cell Market.

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Stationary segment to register highest CAGR in Fuel Cell Market during forecast period

The clean, reliable, and compact power delivery in off-grid, emergency, and mobile applications has put the stationary fuel cell segment in the limelight in the last few decades. This area has witnessed large-scale acceptance in the defense, telecom, Data centers, industrial sites, and commercial buildings, where grid access is either absent or unreliable. The deployment of these systems has been driven mainly by government incentives and energy-efficiency regulations in Japan, South Korea, and the United States. Modern technological advancements have led to smaller unit sizes while increasing their durability and reducing costs, so these systems now support both hydrogen and natural gas operation. The worldwide market position of stationary fuel cells has risen because of improved system integration, remote monitoring, and combined heat and power features that increase their value and performance. Energy strategies based on decentralized low-carbon solutions have driven stationary fuel cells to strengthen their market position throughout the world.

Fuel cell vehicles segment to account for second-largest share of Fuel Cell Market, by application, during forecast period

Over the years, in the evolution of zero-emission mobility, FCVs have found their place as a pillar, offering driving ranges, fast refueling, and higher efficiency than internal combustion. Regions such as Asia Pacific, Europe, and North America have thus provided a favorable climate by way of subsidies, infrastructure building, and emission regulations to usher in hydrogen-based transport. Fuel cell vehicles are designed for durability under rigorous operating conditions in public transport, commercial fleets, and long-haul trucking, allowing for scalability and performance. To meet climate and efficiency targets, such companies are innovating lightweight materials and compact stack designs integrated with hydrogen storage. Major automotive OEMs and technology providers work together to increase vehicle product lines and cut expenses while establishing refueling infrastructure, whereas policymakers dedicate funds to build hydrogen corridors and implement fleet electrification programs, which makes FCVs essential for worldwide clean mobility approaches.

North America to be second-largest Fuel Cell Market during forecast period.

The United States leads in deployment and research and development investments. Companies such as Plug Power and Bloom Energy are increasing their production capacity and working with other industries to expand fuel cell use in data centers, logistics, and mass transport. Federal initiatives such as the Inflation Reduction Act, along with state programs in California and New York, offer incentives for hydrogen production and fuel cell integration. Canada is also advancing its hydrogen infrastructure and fuel cell vehicle technology, supported by national decarbonization efforts. With growing investment interest and an evolving supply chain, North America is set to play an important role in promoting the global use of fuel cells and the shift to clean energy.

Key Market Players

The Fuel Cell Market is dominated by major players with a wide regional presence. Some key players in the market are Bloom Energy (US), Plug Power Inc. (US), AISIN CORPORATION (Japan), Doosan Fuel Cell Co., Ltd. (South Korea), and SFC Energy AG (Germany).

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Bloom Energy 

Bloom Energy is one of the major producers of fuel cell systems. The company focuses on various applications, including biogas energy, electrolyzers, hydrogen fuel cells, certified gas, microgrids, heat capture, carbon capture, marine fuel cells, and primary power. Its fuel cell technology utilizes air and fuel generated from electricity produced by solar panels. Additionally, the company employs solid oxide fuel cell technology, which converts fuel into electricity through electrochemical processes.

Bloom Energy serves a range of industries, including technology, logistics, manufacturing, and real estate. The company operates through four segments: Product, Installation, Service, and Electricity. Its primary offering is the Bloom Energy Server, a modular fuel cell stack continuously producing on-site electricity.

In recent years, Bloom Energy has made several strategic decisions, such as forming partnerships and signing contracts, to strengthen its position in the Fuel Cell Market. For instance, Conagra Brands has entered into a 15-year power purchase agreement to deploy approximately 6 megawatts of Bloom's solid oxide fuel cell technology at its Troy and Archbold, Ohio, production facilities. This agreement is expected to supply 70–75% of the electricity needed at these sites, reducing greenhouse gas emissions by about 19%. The company has a presence in the United States as well as in other countries.

Doosan Fuel Cell Co., Ltd.

Doosan Fuel Cell Co., Ltd. is a leading global Fuel Cell Market player. The company specializes in developing and manufacturing advanced fuel cell systems suitable for mobility and stationary applications. It offers various product lines, including phosphoric acid fuel cells (PAFC) and solid oxide fuel cells (SOFC), which provide efficient and reliable energy generation solutions. Doosan Fuel Cell operates through two main segments: Fuel Cell Revenue, etc. and Service Revenue. The Fuel Cell Revenue, Etc. The segment encompasses the company's fuel cell technology offerings. Its primary production facility is in Iksan, South Korea, where mass production began in January 2017. The facility was expanded in October 2022 to increase its production capacity to 300 megawatts (MW) and to manufacture up to 680 phosphoric acid fuel cells (PAFCs) annually. In recent years, Doosan Fuel Cell has made several strategic decisions to enhance its position in the Fuel Cell Market. For instance, in November 2022, the company signed an export contract with ZKRG Smart Energy Technology in China for 105 MW of hydrogen fuel cells. This contract represents Doosan Fuel Cell's first large-scale overseas supply agreement for hydrogen fuel cells. Doosan Fuel Cell Co., Ltd. has a global presence in the Americas, Asia, Europe, and the Middle East & Africa.

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