Hydrogen Fuel Cell Stacks Market Overview

Global Hydrogen Fuel Cell Stacks market was valued at USD 182.77 million in 2021 and is expected to reach USD 588.45 million by the year 2028, at a CAGR of 18.18%.

A hydrogen fuel cell stacks is the heart of a fuel power cell system. It produces electricity in the form of direct current. A single hydrogen fuel stack consists of a membrane electrode assembly and two flow field plates that delivers approximately 1V which is very low for most of hydrogen fuel cell stacks applications.

According to the analyst, although the hydrogen fuel cell stacksis widely available across the globe, the high cost of the product is hampering the growth of hydrogen fuel cell stacks market and may be a challenge for the market in the forecast period. The increase in adoption of the fuel cells and fuel cells technologies is reducing the dependency on fossil fuel which is bound to increase the market size in the forecast period. Government has issues and introduced several policies that is favorable for the market due to the preservation of natural resources and to improve the hydrogen- related infrastructure. Hence, these factors are improving and escalating hydrogen fuel cell stacks market growth rapidly.  

By the end of 2027, the Hydrogen Fuel Cell Stacks market size is estimated to be at USD 494.83million. Increasing adoption in automotive industry due to their clean power generation technologies and high efficiency with low emissions is going to grow the market in the forecast period. The growing research and development activities from the major industry players is also affecting hydrogen fuel cell stack market positively. Due to it material handling equipment, there is increase in the productivity which is benefitting the market increasing its popularity among the manufacturers. As an environmentally friendly source, the hydrogen fuel cell stack provides a consistent voltage supply and is reliable for the system.

Impact of COVID-19 on Hydrogen Fuel Cell Stacks Market

Although, the impact of COVID-19 is continuing and affecting a lot of countries; the companies are growing with their moderate pace. While a few industries have witnessed a drop in the economy, many are blooming and have a promising forecast period and growth opportunities. The hydrogen fuel cell stacks market is one of those industries that has promising growth opportunities in the forecast period and is blooming in the pandemic. The encouraging signs that stimulate the packages in the European region, China and the United States will include high hydrogen-related infrastructure spending. That will enhance the growth of hydrogen fuel cell stacks market.  

Market Segmentation

Hydrogen Fuel Cell Stacks Market Research report comprises of Porter's five forces analysis to do the detail study about its each segmentation like Product segmentation, End-user/application segment analysis and Major key players analysis mentioned as below;

Product Type Insights:

By Product Type, hydrogen fuel cell stacks market is segmented into Air-Cooled Type and Water-Cooled Type. The water-cooled type segment held the most significant market share of 65.68% in the year 2020 with hydrogen fuel cell stacks market size of USD 101.07 million. The water-cooled product type offers more cooling in comparison to the air-cooled type. The Air-Cooled type segment held the market share of 34.32% with the market size of USD 52.45 million in the year 2020.

Application type Insights:

By Application type, hydrogen fuel cell stacks market is segmented into Fuel Cell Electric Vehicle (FCEV), Cogeneration, Portable Power Systems. In this segment, Fuel Cell Electric Vehicle (FCEV) segment is accounted for hydrogen fuel cell stacks largest segment with the market share of 34.71% and estimated to have a market size of USD 187.60 million in the year 2026 with the CAGR of 18.09%. 

Players Covered in Hydrogen Fuel Cell Stacks Market are :

• Pragma Industries
• Fuel Cell Store
• Ballard Power
• Pearl Hydrogen
• Sunrise Power
• Mingtian Hydrogen Energy Technology
• Shanghai Shenli Technology
• Sinosynergy
• Edelman Hydrogen Energy Equipment and other major players.

Among other players domestic and global, Hydrogen Fuel Cell Stacks market share data is available for global, North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. Our analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Competitive Analysis of the Hydrogen Fuel Cell Stacks Market

The approximate expected value for the Hydrogen Fuel Cell Stacks was USD 130.86 million in 2019, and it is expected to reach USD 416.78 million by 2026.

• Ballad Power Systems Inc. is one of the biggest industry players for the hydrogen fuel cell stacks market. The company owns and operates under Fuel cell products and services agreement. Some of the product offered by company are FCvelocity-9SSL, FCgen-LCS and many more.
• Bing Energy, another hydrogen fuel cell stacks company offers the products of 4.5 kW, 7.5 kW, 10kW and 36 kW power supplies.
• Freudenberg SE offers products for hydrogen fuel cell stacks for applications such as fuel cell electric vehicle in the automotive industry generating a high revenue depending on it.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Application

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  3.5.1 Drivers
  3.5.2 Restraints
  3.5.3 Opportunities
  3.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 4: Hydrogen Fuel Cell Stacks Market by Type
 4.1 Hydrogen Fuel Cell Stacks Market Overview Snapshot and Growth Engine
 4.2 Hydrogen Fuel Cell Stacks Market Overview
 4.3 Air-cooled Type
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size (2016-2028F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Air-cooled Type: Grographic Segmentation
 4.4 Water-cooled Type
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size (2016-2028F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Water-cooled Type: Grographic Segmentation

Chapter 5: Hydrogen Fuel Cell Stacks Market by Application
 5.1 Hydrogen Fuel Cell Stacks Market Overview Snapshot and Growth Engine
 5.2 Hydrogen Fuel Cell Stacks Market Overview
 5.3 Fuel Cell Electric Vehicles (FCEVs)
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Fuel Cell Electric Vehicles (FCEVs): Grographic Segmentation
 5.4 Cogeneration
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Cogeneration: Grographic Segmentation
 5.5 Portable Power Systems
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Portable Power Systems: Grographic Segmentation

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Positioning
  6.1.2 Hydrogen Fuel Cell Stacks Sales and Market Share By Players
  6.1.3 Industry BCG Matrix
  6.1.4 Ansoff Matrix
  6.1.5 Hydrogen Fuel Cell Stacks Industry Concentration Ratio (CR5 and HHI)
  6.1.6 Top 5 Hydrogen Fuel Cell Stacks Players Market Share
  6.1.7 Mergers and Acquisitions
  6.1.8 Business Strategies By Top Players
 6.2 PRAGMA INDUSTRIES
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Operating Business Segments
  6.2.5 Product Portfolio
  6.2.6 Business Performance
  6.2.7 Key Strategic Moves and Recent Developments
  6.2.8 SWOT Analysis
 6.3 FUEL CELL STORE
 6.4 BALLARD POWER
 6.5 PEARL HYDROGEN
 6.6 SUNRISE POWER
 6.7 MINGTIAN HYDROGEN ENERGY TECHNOLOGY
 6.8 SHANGHAI SHENLI TECHNOLOGY
 6.9 SINOSYNERGY
 6.10 EDELMAN HYDROGEN ENERGY EQUIPMENT

Chapter 7: Global Hydrogen Fuel Cell Stacks Market Analysis, Insights and Forecast, 2016-2028
 7.1 Market Overview
 7.2 Historic and Forecasted Market Size By Type
  7.2.1 Air-cooled Type
  7.2.2 Water-cooled Type
 7.3 Historic and Forecasted Market Size By Application
  7.3.1 Fuel Cell Electric Vehicles (FCEVs)
  7.3.2 Cogeneration
  7.3.3 Portable Power Systems

Chapter 8: North America Hydrogen Fuel Cell Stacks Market Analysis, Insights and Forecast, 2016-2028
 8.1 Key Market Trends, Growth Factors and Opportunities
 8.2 Impact of Covid-19
 8.3 Key Players
 8.4 Key Market Trends, Growth Factors and Opportunities
 8.4 Historic and Forecasted Market Size By Type
  8.4.1 Air-cooled Type
  8.4.2 Water-cooled Type
 8.5 Historic and Forecasted Market Size By Application
  8.5.1 Fuel Cell Electric Vehicles (FCEVs)
  8.5.2 Cogeneration
  8.5.3 Portable Power Systems
 8.6 Historic and Forecast Market Size by Country
  8.6.1 U.S.
  8.6.2 Canada
  8.6.3 Mexico

Chapter 9: Europe Hydrogen Fuel Cell Stacks Market Analysis, Insights and Forecast, 2016-2028
 9.1 Key Market Trends, Growth Factors and Opportunities
 9.2 Impact of Covid-19
 9.3 Key Players
 9.4 Key Market Trends, Growth Factors and Opportunities
 9.4 Historic and Forecasted Market Size By Type
  9.4.1 Air-cooled Type
  9.4.2 Water-cooled Type
 9.5 Historic and Forecasted Market Size By Application
  9.5.1 Fuel Cell Electric Vehicles (FCEVs)
  9.5.2 Cogeneration
  9.5.3 Portable Power Systems
 9.6 Historic and Forecast Market Size by Country
  9.6.1 Germany
  9.6.2 U.K.
  9.6.3 France
  9.6.4 Italy
  9.6.5 Russia
  9.6.6 Spain

Chapter 10: Asia-Pacific Hydrogen Fuel Cell Stacks Market Analysis, Insights and Forecast, 2016-2028
 10.1 Key Market Trends, Growth Factors and Opportunities
 10.2 Impact of Covid-19
 10.3 Key Players
 10.4 Key Market Trends, Growth Factors and Opportunities
 10.4 Historic and Forecasted Market Size By Type
  10.4.1 Air-cooled Type
  10.4.2 Water-cooled Type
 10.5 Historic and Forecasted Market Size By Application
  10.5.1 Fuel Cell Electric Vehicles (FCEVs)
  10.5.2 Cogeneration
  10.5.3 Portable Power Systems
 10.6 Historic and Forecast Market Size by Country
  10.6.1 China
  10.6.2 India
  10.6.3 Japan
  10.6.4 Southeast Asia

Chapter 11: South America Hydrogen Fuel Cell Stacks Market Analysis, Insights and Forecast, 2016-2028
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Type
  11.4.1 Air-cooled Type
  11.4.2 Water-cooled Type
 11.5 Historic and Forecasted Market Size By Application
  11.5.1 Fuel Cell Electric Vehicles (FCEVs)
  11.5.2 Cogeneration
  11.5.3 Portable Power Systems
 11.6 Historic and Forecast Market Size by Country
  11.6.1 Brazil
  11.6.2 Argentina

Chapter 12: Middle East & Africa Hydrogen Fuel Cell Stacks Market Analysis, Insights and Forecast, 2016-2028
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Type
  12.4.1 Air-cooled Type
  12.4.2 Water-cooled Type
 12.5 Historic and Forecasted Market Size By Application
  12.5.1 Fuel Cell Electric Vehicles (FCEVs)
  12.5.2 Cogeneration
  12.5.3 Portable Power Systems
 12.6 Historic and Forecast Market Size by Country
  12.6.1 Saudi Arabia
  12.6.2 South Africa

Chapter 13 Investment Analysis

Chapter 14 Analyst Viewpoint and Conclusion

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. HYDROGEN FUEL CELL STACKS MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. HYDROGEN FUEL CELL STACKS MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. HYDROGEN FUEL CELL STACKS MARKET COMPETITIVE RIVALRY
TABLE 005. HYDROGEN FUEL CELL STACKS MARKET THREAT OF NEW ENTRANTS
TABLE 006. HYDROGEN FUEL CELL STACKS MARKET THREAT OF SUBSTITUTES
TABLE 007. HYDROGEN FUEL CELL STACKS MARKET BY TYPE
TABLE 008. AIR-COOLED TYPE MARKET OVERVIEW (2016-2028)
TABLE 009. WATER-COOLED TYPE MARKET OVERVIEW (2016-2028)
TABLE 010. HYDROGEN FUEL CELL STACKS MARKET BY APPLICATION
TABLE 011. FUEL CELL ELECTRIC VEHICLES (FCEVS) MARKET OVERVIEW (2016-2028)
TABLE 012. COGENERATION MARKET OVERVIEW (2016-2028)
TABLE 013. PORTABLE POWER SYSTEMS MARKET OVERVIEW (2016-2028)
TABLE 014. NORTH AMERICA HYDROGEN FUEL CELL STACKS MARKET, BY TYPE (2016-2028)
TABLE 015. NORTH AMERICA HYDROGEN FUEL CELL STACKS MARKET, BY APPLICATION (2016-2028)
TABLE 016. N HYDROGEN FUEL CELL STACKS MARKET, BY COUNTRY (2016-2028)
TABLE 017. EUROPE HYDROGEN FUEL CELL STACKS MARKET, BY TYPE (2016-2028)
TABLE 018. EUROPE HYDROGEN FUEL CELL STACKS MARKET, BY APPLICATION (2016-2028)
TABLE 019. HYDROGEN FUEL CELL STACKS MARKET, BY COUNTRY (2016-2028)
TABLE 020. ASIA PACIFIC HYDROGEN FUEL CELL STACKS MARKET, BY TYPE (2016-2028)
TABLE 021. ASIA PACIFIC HYDROGEN FUEL CELL STACKS MARKET, BY APPLICATION (2016-2028)
TABLE 022. HYDROGEN FUEL CELL STACKS MARKET, BY COUNTRY (2016-2028)
TABLE 023. MIDDLE EAST & AFRICA HYDROGEN FUEL CELL STACKS MARKET, BY TYPE (2016-2028)
TABLE 024. MIDDLE EAST & AFRICA HYDROGEN FUEL CELL STACKS MARKET, BY APPLICATION (2016-2028)
TABLE 025. HYDROGEN FUEL CELL STACKS MARKET, BY COUNTRY (2016-2028)
TABLE 026. SOUTH AMERICA HYDROGEN FUEL CELL STACKS MARKET, BY TYPE (2016-2028)
TABLE 027. SOUTH AMERICA HYDROGEN FUEL CELL STACKS MARKET, BY APPLICATION (2016-2028)
TABLE 028. HYDROGEN FUEL CELL STACKS MARKET, BY COUNTRY (2016-2028)
TABLE 029. PRAGMA INDUSTRIES: SNAPSHOT
TABLE 030. PRAGMA INDUSTRIES: BUSINESS PERFORMANCE
TABLE 031. PRAGMA INDUSTRIES: PRODUCT PORTFOLIO
TABLE 032. PRAGMA INDUSTRIES: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 032. FUEL CELL STORE: SNAPSHOT
TABLE 033. FUEL CELL STORE: BUSINESS PERFORMANCE
TABLE 034. FUEL CELL STORE: PRODUCT PORTFOLIO
TABLE 035. FUEL CELL STORE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 035. BALLARD POWER: SNAPSHOT
TABLE 036. BALLARD POWER: BUSINESS PERFORMANCE
TABLE 037. BALLARD POWER: PRODUCT PORTFOLIO
TABLE 038. BALLARD POWER: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 038. PEARL HYDROGEN: SNAPSHOT
TABLE 039. PEARL HYDROGEN: BUSINESS PERFORMANCE
TABLE 040. PEARL HYDROGEN: PRODUCT PORTFOLIO
TABLE 041. PEARL HYDROGEN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 041. SUNRISE POWER: SNAPSHOT
TABLE 042. SUNRISE POWER: BUSINESS PERFORMANCE
TABLE 043. SUNRISE POWER: PRODUCT PORTFOLIO
TABLE 044. SUNRISE POWER: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 044. MINGTIAN HYDROGEN ENERGY TECHNOLOGY: SNAPSHOT
TABLE 045. MINGTIAN HYDROGEN ENERGY TECHNOLOGY: BUSINESS PERFORMANCE
TABLE 046. MINGTIAN HYDROGEN ENERGY TECHNOLOGY: PRODUCT PORTFOLIO
TABLE 047. MINGTIAN HYDROGEN ENERGY TECHNOLOGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 047. SHANGHAI SHENLI TECHNOLOGY: SNAPSHOT
TABLE 048. SHANGHAI SHENLI TECHNOLOGY: BUSINESS PERFORMANCE
TABLE 049. SHANGHAI SHENLI TECHNOLOGY: PRODUCT PORTFOLIO
TABLE 050. SHANGHAI SHENLI TECHNOLOGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 050. SINOSYNERGY: SNAPSHOT
TABLE 051. SINOSYNERGY: BUSINESS PERFORMANCE
TABLE 052. SINOSYNERGY: PRODUCT PORTFOLIO
TABLE 053. SINOSYNERGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 053. EDELMAN HYDROGEN ENERGY EQUIPMENT: SNAPSHOT
TABLE 054. EDELMAN HYDROGEN ENERGY EQUIPMENT: BUSINESS PERFORMANCE
TABLE 055. EDELMAN HYDROGEN ENERGY EQUIPMENT: PRODUCT PORTFOLIO
TABLE 056. EDELMAN HYDROGEN ENERGY EQUIPMENT: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. HYDROGEN FUEL CELL STACKS MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. HYDROGEN FUEL CELL STACKS MARKET OVERVIEW BY TYPE
FIGURE 012. AIR-COOLED TYPE MARKET OVERVIEW (2016-2028)
FIGURE 013. WATER-COOLED TYPE MARKET OVERVIEW (2016-2028)
FIGURE 014. HYDROGEN FUEL CELL STACKS MARKET OVERVIEW BY APPLICATION
FIGURE 015. FUEL CELL ELECTRIC VEHICLES (FCEVS) MARKET OVERVIEW (2016-2028)
FIGURE 016. COGENERATION MARKET OVERVIEW (2016-2028)
FIGURE 017. PORTABLE POWER SYSTEMS MARKET OVERVIEW (2016-2028)
FIGURE 018. NORTH AMERICA HYDROGEN FUEL CELL STACKS MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 019. EUROPE HYDROGEN FUEL CELL STACKS MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 020. ASIA PACIFIC HYDROGEN FUEL CELL STACKS MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 021. MIDDLE EAST & AFRICA HYDROGEN FUEL CELL STACKS MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 022. SOUTH AMERICA HYDROGEN FUEL CELL STACKS MARKET OVERVIEW BY COUNTRY (2016-2028)