According to the recent study the hydrogen fuel cell market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 21% to 23% from 2023 to 2028. Growth in this market is primarily driven by increase in subsidy policy by the central and local governments on electric vehicles, increasing production of hydrogen fuel-cell vehicles, and various initiatives taken by the governments to curb greenhouse gases.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in hydrogen fuel cell market by product type (air-cooled type and liquid-cooled type), application (stationary, transportation, and portable), technology (proton exchange membrane fuel cells (PEMFC), phosphoric acid fuel cells (PAFC), solid oxide fuel cells (SOFC), direct methanol fuel cells (DMFC), molten carbonate fuel cells (MCFC)) and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Liquid-cooled type market is expected to remain the largest segment during the forecast period.”

Based on product type, the hydrogen fuel cell market is segmented into air-cooled type and liquid-cooled type. Lucintel forecasts that the liquid-cooled type market is expected to remain the largest segment due to it offers more cooling in comparison to air-cooled type, and condenser cooling allows fuel cell stack to function at higher temperatures in comparison to other cooling types.

“Within the hydrogen fuel cell market, the transportation segment is expected to remain the largest application”

Based on application the transportation segment is expected to witness the highest growth over the forecast period due to rising demand for hydrogen fuel cell automobiles and hydrogen fuel cell powered forklifts, and the industry is expected to expand as a result of increased research and development activities in developed and developing countries to produce hydrogen-powered hybrid vehicles.

“North America will dominate the hydrogen fuel cell market in near future”

North America will remain the largest region due to research and development programs, as well as incentives and subsidies provided by government for fuel cell-based vehicles, as well as funding and expenditure by governments, which have pushed the use of fuel cell and hydrogen technologies in the North American region.

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Major players of hydrogen fuel cell market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Fuel Cell Energy, Cummins, Ballard Power Systems, Plug Power, Bloom Energy, AFC Energy, Dossan Fuel Cell, Panasonic Holding Corporation, Intelligent Energy Limited, and Pearl Hydrogen are among the major hydrogen fuel cell providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/hydrogen-fuel-cell-market.aspx  or [email protected]