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Global Fuel Cell Vehicles Market Research Report 2025
Synopsis
A fuel cell car (FCV) is a car powered by electric power generated by an on-board fuel cell device. The fuel used in an on-vehicle fuel cell apparatus is a highly-hydrogen-containing reformed gas obtained by reforming a high-purity hydrogen gas or a hydrogen-containing fuel. Compared with the usual electric vehicles, the difference in power is that the power used by the FCV comes from the vehicle-mounted fuel cell device, and the power used by the electric vehicle comes from the grid-charged battery. Therefore, the key to FCV is fuel cell.
The global Fuel Cell Vehicles market was valued at US$ 1236.7 million in 2023 and is anticipated to reach US$ 1789.6 million by 2030, witnessing a CAGR of 5.5% during the forecast period 2024-2030.
Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.
This report aims to provide a comprehensive presentation of the global market for Fuel Cell Vehicles, 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 Vehicles.
Report Scope
The Fuel Cell Vehicles market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Fuel Cell Vehicles market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Fuel Cell Vehicles manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Acumentrics SOFC Corporation
Automotive Fuel Cell Cooperation Corp
Ballard Power Systems
BMW
Audi
GreenGT
Proton Power Systems
Hydrogenics
Nissan
Toyota Motor Corporation
Daimler
Ballard
VW Group
Segment by Type
Proton Exchange Membrane Fuel Cell
Alkaline Fuel cell
Solid Oxide Fuel Cell
Segment by Application
Forklifts
Airplanes
Submarines
Buses
Motorcycles & Bicycles
Trams
Boats
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Fuel Cell Vehicles manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Fuel Cell Vehicles by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Fuel Cell Vehicles in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: 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 6: 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 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces 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 10: The main points and conclusions of the report.
A fuel cell car (FCV) is a car powered by electric power generated by an on-board fuel cell device. The fuel used in an on-vehicle fuel cell apparatus is a highly-hydrogen-containing reformed gas obtained by reforming a high-purity hydrogen gas or a hydrogen-containing fuel. Compared with the usual electric vehicles, the difference in power is that the power used by the FCV comes from the vehicle-mounted fuel cell device, and the power used by the electric vehicle comes from the grid-charged battery. Therefore, the key to FCV is fuel cell.
The global Fuel Cell Vehicles market was valued at US$ 1236.7 million in 2023 and is anticipated to reach US$ 1789.6 million by 2030, witnessing a CAGR of 5.5% during the forecast period 2024-2030.
Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.
This report aims to provide a comprehensive presentation of the global market for Fuel Cell Vehicles, 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 Vehicles.
Report Scope
The Fuel Cell Vehicles market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Fuel Cell Vehicles market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Fuel Cell Vehicles manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Acumentrics SOFC Corporation
Automotive Fuel Cell Cooperation Corp
Ballard Power Systems
BMW
Audi
GreenGT
Proton Power Systems
Hydrogenics
Nissan
Toyota Motor Corporation
Daimler
Ballard
VW Group
Segment by Type
Proton Exchange Membrane Fuel Cell
Alkaline Fuel cell
Solid Oxide Fuel Cell
Segment by Application
Forklifts
Airplanes
Submarines
Buses
Motorcycles & Bicycles
Trams
Boats
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Fuel Cell Vehicles manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Fuel Cell Vehicles by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Fuel Cell Vehicles in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: 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 6: 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 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces 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 10: The main points and conclusions of the report.
Index1 Fuel Cell Vehicles Market Overview
1.1 Product Definition
1.2 Fuel Cell Vehicles Segment by Type
1.2.1 Global Fuel Cell Vehicles Market Value Growth Rate Analysis by Type 2023 VS 2030
1.2.2 Proton Exchange Membrane Fuel Cell
1.2.3 Alkaline Fuel cell
1.2.4 Solid Oxide Fuel Cell
1.3 Fuel Cell Vehicles Segment by Application
1.3.1 Global Fuel Cell Vehicles Market Value Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Forklifts
1.3.3 Airplanes
1.3.4 Submarines
1.3.5 Buses
1.3.6 Motorcycles & Bicycles
1.3.7 Trams
1.3.8 Boats
1.4 Global Market Growth Prospects
1.4.1 Global Fuel Cell Vehicles Production Value Estimates and Forecasts (2019-2030)
1.4.2 Global Fuel Cell Vehicles Production Capacity Estimates and Forecasts (2019-2030)
1.4.3 Global Fuel Cell Vehicles Production Estimates and Forecasts (2019-2030)
1.4.4 Global Fuel Cell Vehicles Market Average Price Estimates and Forecasts (2019-2030)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Fuel Cell Vehicles Production Market Share by Manufacturers (2019-2024)
2.2 Global Fuel Cell Vehicles Production Value Market Share by Manufacturers (2019-2024)
2.3 Global Key Players of Fuel Cell Vehicles, Industry Ranking, 2022 VS 2023 VS 2024
2.4 Global Fuel Cell Vehicles Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Fuel Cell Vehicles Average Price by Manufacturers (2019-2024)
2.6 Global Key Manufacturers of Fuel Cell Vehicles, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Fuel Cell Vehicles, Product Offered and Application
2.8 Global Key Manufacturers of Fuel Cell Vehicles, Date of Enter into This Industry
2.9 Fuel Cell Vehicles Market Competitive Situation and Trends
2.9.1 Fuel Cell Vehicles Market Concentration Rate
2.9.2 Global 5 and 10 Largest Fuel Cell Vehicles Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Fuel Cell Vehicles Production by Region
3.1 Global Fuel Cell Vehicles Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.2 Global Fuel Cell Vehicles Production Value by Region (2019-2030)
3.2.1 Global Fuel Cell Vehicles Production Value Market Share by Region (2019-2024)
3.2.2 Global Forecasted Production Value of Fuel Cell Vehicles by Region (2025-2030)
3.3 Global Fuel Cell Vehicles Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.4 Global Fuel Cell Vehicles Production by Region (2019-2030)
3.4.1 Global Fuel Cell Vehicles Production Market Share by Region (2019-2024)
3.4.2 Global Forecasted Production of Fuel Cell Vehicles by Region (2025-2030)
3.5 Global Fuel Cell Vehicles Market Price Analysis by Region (2019-2024)
3.6 Global Fuel Cell Vehicles Production and Value, Year-over-Year Growth
3.6.1 North America Fuel Cell Vehicles Production Value Estimates and Forecasts (2019-2030)
3.6.2 Europe Fuel Cell Vehicles Production Value Estimates and Forecasts (2019-2030)
3.6.3 China Fuel Cell Vehicles Production Value Estimates and Forecasts (2019-2030)
3.6.4 Japan Fuel Cell Vehicles Production Value Estimates and Forecasts (2019-2030)
3.6.5 South Korea Fuel Cell Vehicles Production Value Estimates and Forecasts (2019-2030)
3.6.6 India Fuel Cell Vehicles Production Value Estimates and Forecasts (2019-2030)
4 Fuel Cell Vehicles Consumption by Region
4.1 Global Fuel Cell Vehicles Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
4.2 Global Fuel Cell Vehicles Consumption by Region (2019-2030)
4.2.1 Global Fuel Cell Vehicles Consumption by Region (2019-2024)
4.2.2 Global Fuel Cell Vehicles Forecasted Consumption by Region (2025-2030)
4.3 North America
4.3.1 North America Fuel Cell Vehicles Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.3.2 North America Fuel Cell Vehicles Consumption by Country (2019-2030)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Fuel Cell Vehicles Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.4.2 Europe Fuel Cell Vehicles Consumption by Country (2019-2030)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Fuel Cell Vehicles Consumption Growth Rate by Region: 2019 VS 2023 VS 2030
4.5.2 Asia Pacific Fuel Cell Vehicles Consumption by Region (2019-2030)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Fuel Cell Vehicles Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.6.2 Latin America, Middle East & Africa Fuel Cell Vehicles Consumption by Country (2019-2030)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Fuel Cell Vehicles Production by Type (2019-2030)
5.1.1 Global Fuel Cell Vehicles Production by Type (2019-2024)
5.1.2 Global Fuel Cell Vehicles Production by Type (2025-2030)
5.1.3 Global Fuel Cell Vehicles Production Market Share by Type (2019-2030)
5.2 Global Fuel Cell Vehicles Production Value by Type (2019-2030)
5.2.1 Global Fuel Cell Vehicles Production Value by Type (2019-2024)
5.2.2 Global Fuel Cell Vehicles Production Value by Type (2025-2030)
5.2.3 Global Fuel Cell Vehicles Production Value Market Share by Type (2019-2030)
5.3 Global Fuel Cell Vehicles Price by Type (2019-2030)
6 Segment by Application
6.1 Global Fuel Cell Vehicles Production by Application (2019-2030)
6.1.1 Global Fuel Cell Vehicles Production by Application (2019-2024)
6.1.2 Global Fuel Cell Vehicles Production by Application (2025-2030)
6.1.3 Global Fuel Cell Vehicles Production Market Share by Application (2019-2030)
6.2 Global Fuel Cell Vehicles Production Value by Application (2019-2030)
6.2.1 Global Fuel Cell Vehicles Production Value by Application (2019-2024)
6.2.2 Global Fuel Cell Vehicles Production Value by Application (2025-2030)
6.2.3 Global Fuel Cell Vehicles Production Value Market Share by Application (2019-2030)
6.3 Global Fuel Cell Vehicles Price by Application (2019-2030)
7 Key Companies Profiled
7.1 Acumentrics SOFC Corporation
7.1.1 Acumentrics SOFC Corporation Fuel Cell Vehicles Corporation Information
7.1.2 Acumentrics SOFC Corporation Fuel Cell Vehicles Product Portfolio
7.1.3 Acumentrics SOFC Corporation Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.1.4 Acumentrics SOFC Corporation Main Business and Markets Served
7.1.5 Acumentrics SOFC Corporation Recent Developments/Updates
7.2 Automotive Fuel Cell Cooperation Corp
7.2.1 Automotive Fuel Cell Cooperation Corp Fuel Cell Vehicles Corporation Information
7.2.2 Automotive Fuel Cell Cooperation Corp Fuel Cell Vehicles Product Portfolio
7.2.3 Automotive Fuel Cell Cooperation Corp Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.2.4 Automotive Fuel Cell Cooperation Corp Main Business and Markets Served
7.2.5 Automotive Fuel Cell Cooperation Corp Recent Developments/Updates
7.3 Ballard Power Systems
7.3.1 Ballard Power Systems Fuel Cell Vehicles Corporation Information
7.3.2 Ballard Power Systems Fuel Cell Vehicles Product Portfolio
7.3.3 Ballard Power Systems Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.3.4 Ballard Power Systems Main Business and Markets Served
7.3.5 Ballard Power Systems Recent Developments/Updates
7.4 BMW
7.4.1 BMW Fuel Cell Vehicles Corporation Information
7.4.2 BMW Fuel Cell Vehicles Product Portfolio
7.4.3 BMW Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.4.4 BMW Main Business and Markets Served
7.4.5 BMW Recent Developments/Updates
7.5 Audi
7.5.1 Audi Fuel Cell Vehicles Corporation Information
7.5.2 Audi Fuel Cell Vehicles Product Portfolio
7.5.3 Audi Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.5.4 Audi Main Business and Markets Served
7.5.5 Audi Recent Developments/Updates
7.6 GreenGT
7.6.1 GreenGT Fuel Cell Vehicles Corporation Information
7.6.2 GreenGT Fuel Cell Vehicles Product Portfolio
7.6.3 GreenGT Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.6.4 GreenGT Main Business and Markets Served
7.6.5 GreenGT Recent Developments/Updates
7.7 Proton Power Systems
7.7.1 Proton Power Systems Fuel Cell Vehicles Corporation Information
7.7.2 Proton Power Systems Fuel Cell Vehicles Product Portfolio
7.7.3 Proton Power Systems Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.7.4 Proton Power Systems Main Business and Markets Served
7.7.5 Proton Power Systems Recent Developments/Updates
7.8 Hydrogenics
7.8.1 Hydrogenics Fuel Cell Vehicles Corporation Information
7.8.2 Hydrogenics Fuel Cell Vehicles Product Portfolio
7.8.3 Hydrogenics Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.8.4 Hydrogenics Main Business and Markets Served
7.7.5 Hydrogenics Recent Developments/Updates
7.9 Nissan
7.9.1 Nissan Fuel Cell Vehicles Corporation Information
7.9.2 Nissan Fuel Cell Vehicles Product Portfolio
7.9.3 Nissan Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.9.4 Nissan Main Business and Markets Served
7.9.5 Nissan Recent Developments/Updates
7.10 Toyota Motor Corporation
7.10.1 Toyota Motor Corporation Fuel Cell Vehicles Corporation Information
7.10.2 Toyota Motor Corporation Fuel Cell Vehicles Product Portfolio
7.10.3 Toyota Motor Corporation Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.10.4 Toyota Motor Corporation Main Business and Markets Served
7.10.5 Toyota Motor Corporation Recent Developments/Updates
7.11 Daimler
7.11.1 Daimler Fuel Cell Vehicles Corporation Information
7.11.2 Daimler Fuel Cell Vehicles Product Portfolio
7.11.3 Daimler Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.11.4 Daimler Main Business and Markets Served
7.11.5 Daimler Recent Developments/Updates
7.12 Ballard
7.12.1 Ballard Fuel Cell Vehicles Corporation Information
7.12.2 Ballard Fuel Cell Vehicles Product Portfolio
7.12.3 Ballard Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.12.4 Ballard Main Business and Markets Served
7.12.5 Ballard Recent Developments/Updates
7.13 VW Group
7.13.1 VW Group Fuel Cell Vehicles Corporation Information
7.13.2 VW Group Fuel Cell Vehicles Product Portfolio
7.13.3 VW Group Fuel Cell Vehicles Production, Value, Price and Gross Margin (2019-2024)
7.13.4 VW Group Main Business and Markets Served
7.13.5 VW Group Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Fuel Cell Vehicles Industry Chain Analysis
8.2 Fuel Cell Vehicles Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Fuel Cell Vehicles Production Mode & Process
8.4 Fuel Cell Vehicles Sales and Marketing
8.4.1 Fuel Cell Vehicles Sales Channels
8.4.2 Fuel Cell Vehicles Distributors
8.5 Fuel Cell Vehicles Customers
9 Fuel Cell Vehicles Market Dynamics
9.1 Fuel Cell Vehicles Industry Trends
9.2 Fuel Cell Vehicles Market Drivers
9.3 Fuel Cell Vehicles Market Challenges
9.4 Fuel Cell Vehicles Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
Published By : QY Research
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