High-Performance Fuel Cells Market Research Report - Global Forecast till 2027

High-Performance Fuel Cells Market Research Report: Information by Type (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, Alkaline Fuel Cell and Microbial Fuel Cell), Application (Transport, Stationary and Portable), End-Use (Fuel Cell Vehicles, Utilities and Defence) and Region - Forecast till 2027

ID: MRFR/E&P/8602-HCR | February 2021 | Region: Global | 111 pages

High-Performance Fuel Cells Market Scenario


High-Performance Fuel Cells Market size is projected to reach USD 7.81 Billion by 2026, with 24% CAGR between 2020 and 2027


The global high-performance fuel cell market is expected to witness high growth during the forecast period owing to the increasing focus on sustainable energy technologies. This is expected to drive the demand for high-performance fuel cells during the forecast period.


The key factors driving the growth of the global high-performance fuel cells market are the growing demand for electricity generation from renewable energy sources and the need to de-carbonize energy end-use. Energy generation companies are focusing on reducing carbon emissions, which is expected to drive the demand for high-performance fuel cells during the forecast period. Furthermore, government bodies across the globe have developed various initiatives to increase the adoption of high-performance fuel cells, which is expected to drive the market growth during the forecast period. However, a lack of hydrogen infrastructure is expected to restrict the growth of the global high-performance fuel cells market.


Based on the region, the global high-performance fuel cells market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America holds the largest high-performance fuel cell market share as it is the second-largest producer of crude oil, and the major manufacturers of fuel cells are headquartered in the US and Canada. However, the high-performance fuel cells market in Asia-Pacific is expected to grow at the fastest rate during the forecast period, primarily to the numerous government initiatives introduced in the region to increase the adoption of renewable energy sources.


Key Players


The key players operating in the global market for high-performance fuel cells are Ballard Power Systems (Canada), Hydrogenics (Canada), Toshiba Energy Systems & Solutions Corporation (Japan), SFC Energy (Germany), Mitsubishi Hitachi Power Systems (Japan), Ceres Power (UK), Horizon Fuel Cell Technologies (Singapore), Aisin Seiki Co. (Japan), Kyocera (Japan), AFC Energy (UK), Altergy (US), Nuvera Fuel Cells, LLC (US).


Market Segmentation
High-Performance Fuel Cells Market


The global high-performance fuel cells market has been segmented based on type and application. Based on type, the global market is divided into proton exchange membrane fuel cell (PEMFC), phosphoric acid fuel cell, alkaline fuel cell, and microbial fuel cell. The PEMFC segment is expected to hold the largest share of the global market and grow with the fastest rate during the forecast period. The alkaline fuel cell segment also holds a substantial share of the high-performance fuel cells market.


Based on application, the global high-performance fuel cells market is segmented into portable, stationary, and transport. The transport segment is estimated to grow at the fastest rate during the forecast period due to the increasing sales of fuel cell vehicles, including fuel cell buses, in North America and Asia-Pacific.  


Based on end-use, the global high-performance fuel cells market has been divided into fuel cell vehicles, utilities, and defence. The fuel cell vehicle segment is expected to hold the largest share within the global high-performance fuel cells market.


Global High-Performance Fuel Cells Market is expected to grow at 24% CAGR during the forecast period.


Fuel cells help convert chemical potential energy into electrical energy. The by-products of the reaction in the fuel cells are water, electricity, and heat. Moreover, there are high-performance fuel cells that convert waste methane into electrical energy. There are various types of fuel cells, including alkaline fuel cells, phosphoric acid fuel cells, microbial fuel cells, and others.


Global High-Performance Fuel Cells Market size is projected to reach USD 7.8 Billion by 2026, with 24.0% CAGR between 2020 and 2026.   


Many major players, such as Ballard Power Systems, SFC Energy, and Hitachi Power Systems, are actively participating in fuel cell development projects. For instance, in April 2020, Mitsubishi Hitachi Power Systems began developing a hybrid power system, which combines a solid oxide fuel cell with a micro gas turbine. Such developments are expected to drive the growth of the global high-performance fuel cells market during the forecast period. 


Intended Audience



  • Government and research organization

  • Consulting companies in the high-performance fuel cells market

  • Raw material suppliers

  • Research consultants

  • Investors and shareholders



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2027: USD 7.81 Billion
  • 2027: Significant Value
  •   CAGR   24% (2020-2027)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Application and End-Use
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Ballard Power Systems (Canada), Hydrogenics (Canada), Toshiba Energy Systems & Solutions Corporation (Japan), SFC Energy (Germany), Mitsubishi Hitachi Power Systems (Japan), Ceres Power (UK), Horizon Fuel Cell Technologies (Singapore), Aisin Seiki Co. (Japan), Kyocera (Japan), AFC Energy (UK), Altergy (US), Nuvera Fuel Cells, LLC (US)
      Key Market Opportunities   lack of hydrogen infrastructure
      Key Market Drivers

  • growing demand for electricity generation from renewable energy sources
  • the need to de-carbonize energy end-use


  • Frequently Asked Questions (FAQ) :


    The global high-performance fuel cells market is predicted to grow at a 24.0% CAGR between 2020- 2026.

    The global high-performance fuel cells market is predicted to reach USD 7.8 billion by 2026.

    North America will lead the global high-performance fuel cells market.

    Rising focus on sustainable energy technologies is driving the global high-performance fuel cells market growth.

    Key contenders profiled in the global high-performance fuel cells market include Ballard Power Systems (Canada), Hydrogenics (Canada), Toshiba Energy Systems & Solutions Corporation (Japan), SFC Energy (Germany), Mitsubishi Hitachi Power Systems (Japan), Ceres Power (UK), Horizon Fuel Cell Technologies (Singapore), Aisin Seiki Co. (Japan), Kyocera (Japan), AFC Energy (UK), Altergy (US), Nuvera Fuel Cells, LLC (US).