Automotive Fuel Cell System Market Share

Statistics for the 2023 & 2024 Automotive Fuel Cell System market share, created by Mordor Intelligence™ Industry Reports. Automotive Fuel Cell System share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Automotive Fuel Cell System Industry

  • The automotive fuel cell system market is dominated by players such as Ballard Power Systems Inc., Doosan Fuel Cell Co. Ltd, Hydrogenics, and Nedstack Fuel Cell Technology BV. These companies have been expanding their businesses using new and innovative technologies to have an advantage over their competitors.
  • In February 2023, Doosan Fuel Cell signed a statement of cooperation with the South Australian government and HyAxiom, a subsidiary of Doosan Corporation. In accordance with the agreement, South Australia and Doosan Fuel Cell committed to "exchange equipment and experience for the production of eco-friendly hydrogen and derivatives, to "create strategies and alliances to achieve worldwide competitiveness in hydrogen exports," and to "share best practices for hydrogen production.
  • In July 2022, Iveco Group, through its brand IVECO BUS, announced that it would partner with HTWO to equip its future European hydrogen-powered buses with world-leading fuel cell systems. HTWO, as a fuel cell system-based hydrogen business brand of Hyundai Motor Group, was first released in December 2020 with Hyundai's strong commitment to a hydrogen economy. With its proven fuel cell technology utilized in Hyundai FCEVs, HTWO is expanding the provision of fuel cell technology to other automobile OEMs and non-automobile sectors to make hydrogen available for everything.

Automotive Fuel Cell System Market Leaders

  1. Ballard Power Systems Inc.

  2. Doosan Fuel Cell Co Ltd

  3. Plug Power

  4. Nuvera Fuel Cells LLC

  5. Hydrogenics ( Cummins Inc.)

*Disclaimer: Major Players sorted in no particular order

Automotive Fuel Cell System Market Concentration

Automotive Fuel Cell Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)