Market Size of Germany Fuel Cell Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 10.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Germany Fuel Cell Market Analysis
The fuel cell market in Germany is expected to grow at a CAGR of 10.97% during the forecast period (2022-2027).
The market was moderately impacted by the Covid-19 pandemic, however, the market has rebounded, and is expected to grow steadily during the forecast period.
- Factors, such as advantages of fuel cell over its alternatives such as the lithium-ion battery and high energy density are expected to drive the market studied.
- However, on the flip side, the availability of proven and cost-effective alternate energy storage systems in the market and lack of hydrogen supply infrastructure are expected to restrain the market during the forecast period.
- Pure battery vehicles cannot cover all the route, load, and refueling requirements, therefore fuel cells are being considered as a practical solution for trucks to maintain a place. Thus, this is expected to provide a great opportunity for the fuel cell market in the near future.
