No.3815
Global Market of Fuel Cell Systems & Related Components: Key Research Findings 2025
Global Market for Automotive Fuel Cell Systems to Reach 540,000 Units by 2032
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on the global market of fuel cell systems and related components and has found out the policy trends in fuel cells/ fuel cell powered by hydrogen in each country, the market by application, the trends of market entrant companies and universities, and the outlook. This press release discloses the analytical results of automotive and industrial fuel cell systems.
Market Overview
The global market for automotive fuel cell systems, based on manufacturer shipment volume, was estimated at 11,960 units in 2024, which is 75.0% of the size of the previous year. In China, demand for fuel cell systems for commercial vehicles slowed due to delayed subsidy payments and persistently high hydrogen prices. In addition, the decelerating trend of passenger-car fuel cell systems resulted in market shrinkage due to the following two factors: 1) high vehicle and fuel prices and 2) a lack of hydrogen stations.
Noteworthy Topics
Global Market for Business and Industrial Fuel Cell Systems
In 2024, the global market for business and industrial fuel cell systems reached 550 megawatts (MW), marking a 3.6% increase from the previous year, based on manufacturer shipment capacities. The global increase in electricity demand and enhanced support measures to nurture the fuel cell industry have boosted demand for these systems. In particular, the surge in electricity demand from data centers, artificial intelligence, and the cryptocurrency sector has contributed to this growth.
Future Outlook
The automotive fuel cell system market is expected to turn upward, as major automakers release new fuel cell vehicle (FCV) models in 2025 and beyond. As demand for commercial-car fuel cell systems to full fledge, particularly for deployment in trucks and trailers in China, Europe, and Japan, the market is projected to experience a higher growth rate than passenger-car fuel cell systems. Consequently, the global market for automotive fuel cell systems is forecast to reach 540,000 units by 2032 based on manufacturer shipment volume.
Research Outline
2.Research Object： Manufacturers and suppliers of fuel cell systems and related components, research institutions including universities
3.Research Methogology： Face-to-face interviews (including online interviews) by expert researchers and literature research
What are Fuel Cell Systems & Related Components?
In this research, a fuel cell system refers to fuel cells used as a power source for mobility, residences, businesses, industries, and other applications. These fuel cells include polymer electrolyte (PEFC), solid oxide (SOFC), phosphoric acid (PAFC), and molten carbonate (MCFC) fuel cells.
The related components include the main components of PEFCs, such as electrolyte membrane, catalyst layer, gas diffusion layers (GDLs), separators; and chief components of SOFCs, including electrolyte, fuel electrodes, oxygen electrodes, and separators (interconnect).
This press release discloses the analytical results of automotive and industrial fuel cell systems.
＜Products and Services in the Market＞
Fuel cells for vehicles, residences, businesses, industries, and other applications, main components of PEFC (electrolyte membrane, catalyst layer, GDLs, and separators), and main components of SOFC (electrolyte [solid oxide], fuel electrodes, oxygen electrodes, and separators [interconnect]).
Published Report
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