How much is the hydrogen fuel cell industry worth?

The global Hydrogen Fuel Cells market was valued at 577 Million USD in 2020 and will grow with a CAGR of 4.8\% from 2020 to 2027.

How big is the fuel cell market?

USD 264.2 million
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global fuel cells market was worth USD 264.2 million in 2020. It is estimated to grow at a CAGR of 26.2\%, earning revenue of around USD 1,341.9 million by the end of 2027.

Who is the largest manufacturer of fuel cells?

The top three companies make up more than 46\% market share of the Hydrogen Fuel Cells market in 2015. The top three manufacturers are Ballard Power Systems Inc. (BLDP) (market share of 17.36\%), Toshiba (market share of 16.68\%) and PLUG Power( market share of 11.93\%) in 2015.

Who is the largest fuel cell company?

Notably, Hyundai Mobis — Hyundai’s parts and service subsidiary — already has the largest fuel cell production capacity in the world and supplies fuel cells for Nexo. Toyota is also a key player in the fuel cell EV market. The company produces its own fuel cells for use in Mirai — its top-selling FCEV.

How much is the fuel cell industry worth?

The Fuel Cells market in the U.S. is estimated at US$2 Billion in the year 2021. The country currently accounts for a 24.31\% share in the global market.

Can hydrogen be the fuel of the future?

In other words, while hydrogen is promising and has considerable attention and investment from energy companies and auto manufacturers alike, it’s time hasn’t yet come. So yes, hydrogen may be the fuel source of the future, but tomorrow, you’ll still probably need to fill your car with regular, old gasoline.

What is hydrogen fuel?

Hydrogen fuel is a zero-emission fuel when burned with oxygen. It can be used in electrochemical cells or internal combustion engines to power vehicles or electric devices.

What is hydrogen generation?

Hydrogen Generation. Per unit of fuel, hydrogen fuel cells in vehicles are about twice as efficient as combustion energies. Unlike conventional engines, fuel cells emit only water vapor and heat. 50 million tons of hydrogen are produced for global consumption per year. The goal of the U.S. Department of Energy is for hydrogen to produce 10\%…

What is a fuel cell car?

A fuel cell vehicle ( FCV ) or fuel cell electric vehicle (FCEV) is a type of electric vehicle which uses a fuel cell, instead of a battery, or in combination with a battery or supercapacitor, to power its on-board electric motor.