Fuel Cell Stack Systems Market is Forecasted to Reach US$23.3 Billion in 2035, Says Stratview Research

Detroit, July 31, 2025 (GLOBE NEWSWIRE) -- The global fuel cell stack systems market size was valued at US$2.5 billion in 2024, and is projected to reach US$23.3 billion by 2035, witnessing a market growth CAGR of 21.9% from 2024 to 2035, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global fuel cell stack systems market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

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Market Statistics

Segment Insights & Market Share Analysis of the Fuel Cell Stack Systems Market:

The global fuel cell stack systems market is segmented based on fuel cell type, application type, and region.

Based on Fuel Cell Type –

• The fuel cell stack systems market is segmented into PEMFC, SOFC, and others (PAFC, MCFC, AFC, and DMFC) by fuel cell type.
• PEMFC stack systems have dominated the market and will continue to lead in the forecast period. With low operating temperature, higher efficiency, compact design, scalability, and adoption into various applications, PEMFC stack systems have evolved as a major choice for the global consumer base. The major driving force would be the mobility industries, where PEMFC is dominant among fuel cells.
• SOFC stacks are also forecasted to grow decently in the forecasted period, majorly driven by their dominant use in stationary applications. The SOFC stack systems operate at very high temperatures and achieve high electrical efficiency, thus making them suitable for stationary power generation. Their use in CHP (Combined Heat and Power) systems is forecasted to grow and influence the SOFC stack systems market.

Based on the Application Type –

• The fuel cell stack systems market is segmented into transportation, stationary, and portable.
• Transportation is expected to remain the market's dominant and fastest-growing application type during the forecast period.
•  The use of fuel cells in mobility has grown in the recent past and is forecasted to remain dominant in the coming years. Fuel Cells (those powered by Hydrogen), seen as a low-impact alternative (emitting water vapors as a by-product), are preferred by countries around the world to meet their targets on environmental policies and global climate regulations. Due to the fast-refuelling option, fuel cells are competing strongly against lithium-ion, and with continuous research in cost reduction, fuel cells are expected to hold a major share of future mobility applications.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the Asia-Pacific is expected to remain the largest market. This growth outlook is mainly attributed to the following–

The Asia-Pacific region, with a significant number of developing countries, vast populations, and a gigantic energy demand in compliance with global climate regulations, will invest heavily in sustainable alternatives, including fuel cells. Thus, the market will grow rapidly in the region, accounting for most of the share in the forecasted period.

Likewise, the North American and European markets will also experience decent growth in the forecast period owing to their current technological dominance, highly allocated funds for R&D, and policies revolving around a hydrogen-based economy.

Fuel Cell Stack Systems Market Drivers:

Some of the key drivers listed in the report are given below.

• Increasing demand for clean energy solutions across industries. Government policies and environmental regulations promoting low-carbon technologies are major drivers, encouraging the adoption of fuel cell systems in transportation, power generation, and portable applications.
• Advances in fuel cell efficiency, durability, and cost reduction have further propelled market expansion.
• Growing investments in hydrogen infrastructure and fuel cell research are fostering widespread commercialization, strengthening the market's growth trajectory.

Competitive Landscape: Top Companies in the Fuel Cell Stack Systems Market:

The market is fragmented, with multiple players supplying either a particular component or complete stack systems solutions. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

• Plug Power Inc.
• Ballard Power Systems
• EKPO Fuel Cell Technologies GmbH
• Doosan Fuel Cell
• Bloom Energy
• Nuvera Fuel Cells LLC
• Nimbus Power Systems
• FuelCell Energy Solutions
• Horizon Fuel Cell Technologies
• Powercell Group
• Robert Bosch GmbH
• Mitsubishi Power
• Schaeffler AG
• AVL Fuel Cell Canada Inc.

What Deliverables Will You Get in this Report?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Stationary Fuel Cell Stack Systems Market

• Transportation Fuel Cell Stack Systems Market

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About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

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