Fuel Cell Market Set to Reach $18.16 Billion by 2030 Globally, at a CAGR of 26.3%, says MarketsandMarkets™

Delray Beach, FL, Feb. 09, 2026 (GLOBE NEWSWIRE) -- The global Fuel Cell Market size is projected to reach USD 18.16 billion by 2030 from USD 5.66 billion in 2025, at a CAGR of 26.3% during the forecasted period, as per the recent study by MarketsandMarkets™. Rapid advancements in fuel cell technologies have fundamentally altered the design approach, integrations, and applications of fuel cells across fuel cell energy markets. Increased emphasis on system efficiency, modular scalability, and digitalized performance management has driven demand for high-efficiency stacks, advanced balance-of-plant components, and smart monitoring platforms that will improve the reliability, durability, and adaptability of fuel cell systems in stationary, mobility, and industrial applications. Fuel cell infrastructure development activity is ongoing both regionally and globally due to strong government support, funding programs, and collaborative public–private ventures across key regions, as well as policies and incentives with similar objectives around decarbonization, the use of hydrogen, and clean energy resources. Collectively, these factors are driving a continuous growth trajectory for the Fuel Cell Market and embedding fuel cell technologies as key enablers of a global energy transition to achieve net-zero and clean power objectives worldwide.

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The Fuel Cell Market is expanding due to increased global fuel cell installations. Additionally, the renewed effort toward rapid decarbonization suggests that fuel cells are the foundation of a systematic, low-emission energy solution. Overall, the investment increase in manufacturing facilities and supply-chain networks has allowed the US, Europe, and Asia Pacific to become key players for fuel cell manufacturing and hydrogen transport. The geopolitical landscape favors hydrogen technologies due to energy independence and the call for diversification, leading to energy security. The US Inflation Reduction Act and Europe’s Hydrogen Strategy are two examples of policies pushing toward rapid deployment and displacing fossil fuel power sources. All of these factors are accelerating the development and deployment of fuel cell systems as key components of resilient, clean energy portfolios worldwide.

Based on fuel type

The hydrogen segment is projected to register the highest compound annual growth rate (CAGR) during the forecast period. This segment plays a significant role in clean energy deployments across various applications, including mobility, stationary power, and portable uses. The widespread adoption of hydrogen fuel cells can be attributed to hydrogen's advantages, such as quick refueling, high energy density, and the ability to produce zero emissions. These characteristics make hydrogen ideal for multiple applications.

Additionally, hydrogen infrastructure is developing rapidly, particularly with the increasing number of hydrogen refueling stations worldwide, which boosts market growth and user confidence. Supportive policies, public and private funding, and decarbonization targets also drive momentum in this segment. Furthermore, research and development efforts aimed at enhancing stack efficiency and durability and reducing total system costs will further strengthen hydrogen's market potential.

The small-scale Fuel Cell Market (up to 200 kW) continues to dominate, by size, driven by a growing demand for flexible and decentralized clean energy solutions. This segment has gained significant momentum through various applications, including stationary, portable, and mobility uses. In 2023, many small-sized systems were installed worldwide, particularly in residential, backup power, and light-commercial applications across the Asia Pacific region, Europe, and North America. These systems are characterized by their ability to generate energy on-site, reducing dependence on grid power and producing lower emissions. This makes them particularly attractive for urban, remote, or off-grid environments. The small-scale segment is experiencing remarkable growth due to key features such as modularity, ease of integration, and the ability to meet specific energy demands. Advancements in technology, including hybrid integration with renewables, smart controls, and cloud diagnostics systems, enhance these energy systems' operational efficiency and reliability. Unique advantages such as flexibility, scalability, and competitive costs position these electricity generators as key components of distributed energy strategies and broader decarbonization efforts.

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Key Market Players

Major players in the Fuel Cell Market include Bloom Energy (US), Plug Power . (US), AISIN CORPORATION (Japan), Doosan Fuel Cell Co., Ltd. (South Korea), and SFC Energy AG (Germany). These companies have a strong, diversified product portfolio and a robust global presence. 

Recent Strategic Developments

March 2025: Doosan Fuel Cell Co., Ltd., in collaboration with Korea Hydro & Nuclear Power (KHNP), Airrane, and KECC, developed and demonstrated Korea’s first carbon capture technology specifically for hydrogen fuel cells, aiming to make hydrogen power generation more environmentally friendly. This project involved redesigning hydrogen fuel cells, integrating membrane capture systems, and installing these technologies at the Maritime Industry Cluster Harbor in Yeosu Gwangyang Port, with pilot operations completed by January 2025.

December 2024: Bloom Energy partnered with HPS Investment Partners and Industrial Development Funding to fund clean energy projects. Through this partnership, they secured around USD 125 million to support the deployment of Bloom’s Energy Servers and microgrid solutions. The goal is to provide reliable, low-emission power to customers through Power Purchase Agreements (PPAs), allowing them to access energy without upfront costs. This collaboration helps Bloom grow its project pipeline while giving HPS and IDF new opportunities to invest in clean energy solutions.

October 2024: SFC Energy AG completed the acquisition of Ballard Power Systems Europe A/S’s small stationary hydrogen fuel cell business, including intellectual property, customer contracts, and service agreements. This strategic move enhances SFC's portfolio with 1.7 kW and 5 kW PEM fuel cell solutions, expanding its presence in Northern Europe. The acquisition adds approximately 400 installed systems across Denmark, Norway, Sweden, and Finland, providing a solid foundation for market expansion.

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