[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Asia-Pacific Hydrogen Fuel Cell Market: Focus on Application, Product Type, Technology, and Country-Level Analysis - Analysis and Forecast, 2023-2033

July 2024 | | ID: A45188DD9EB0EN
BIS Research Inc.

US$ 2,950.00

E-mail Delivery (PDF)

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
Hard copy option is available on any of the options above at an additional charge of $500. Please email us at [email protected] with your request.

This report will be delivered in 1-5 working days.

Introduction to Asia-Pacific Hydrogen Fuel Cell Market

The Asia-Pacific hydrogen fuel cell market was valued at $1,672.1 million in 2023 and is expected to reach $11,225.7 million by 2033, with a CAGR of 20.97% from 2023 to 2033. Hydrogen fuel cells are valued primarily for their environmental sustainability and efficiency, offering a cleaner alternative to traditional combustion-based energy sources.

Market Introduction

The Asia-Pacific (APAC) hydrogen fuel cell market is poised for substantial growth driven by increasing investments in clean energy technologies and efforts to reduce carbon emissions. Countries like Japan, South Korea, and China are leading the adoption of hydrogen fuel cells in various sectors including automotive, stationary power generation, and portable electronics. These fuel cells offer advantages such as zero emissions, high energy efficiency, and quiet operation, making them attractive for applications requiring sustainable energy solutions. Government initiatives, incentives for hydrogen infrastructure development, and partnerships between public and private sectors are accelerating market expansion across APAC. Challenges include the need for infrastructure investment, hydrogen production scalability, and cost competitiveness compared to conventional technologies. Nonetheless, with ongoing advancements in technology and supportive policies, the APAC hydrogen fuel cell market is expected to play a pivotal role in the region's transition towards a low-carbon economy.

Market Segmentation:

Segmentation 1: by Application
  • Stationary Power
  • Portable Power
  • Transport
  • Passenger Cars
  • Commercial Vehicles
  • Others
Segmentation 2: by Product Type
  • Liquid-Cooled Type
  • Air-Cooled Type
Segmentation 3: by Technology
  • Polymer Electrolyte Membrane (PEM)
  • Alkaline (AFC)
  • Phosphoric Acid (PAFC)
  • Molten Carbonate (MCFC)
  • Solid Oxide (SOFC)
Segmentation 4: by Region
  • Japan
  • India
  • China
  • South Korea
  • Rest-of-Asia-Pacific
How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different product types and technologies available for deployment and their potential. Moreover, the study provides the reader with a detailed understanding of the hydrogen fuel cell market by application on the basis of application (stationary power, portable power, transport) and product on the basis of product type (liquid-cooled type, air-cooled type), by technology (polymer electrolyte membrane (PEM), alkaline (AFC), phosphoric acid (PAFC), molten carbonate (MCFC), solid oxide (SOFC)).

Growth/Marketing Strategy: The hydrogen fuel cell market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been merger and acquisition to strengthen their position in the hydrogen fuel cell market.

Competitive Strategy: Key players in the Asia-Pacific hydrogen fuel cell market analyzed and profiled in the study involve major hydrogen fuel cell offering companies for various applications. Moreover, a detailed competitive benchmarking of the players operating in the hydrogen fuel cell market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled in the report have been selected based on thorough secondary research, which includes analyzing company coverage, product portfolio, market penetration, and insights gathered from primary experts.

Some prominent names established in the market are:
  • Panasonic
  • TW Horizon Fuel Cell Technologies
  • Toshiba America Energy Systems Corporation (TAES)
  • Mitsubishi Hitachi Power Systems
  • Shanghai Pearl Hydrogen Energy Technology Co.
  • Doosan Fuel Cell Co., Ltd.
  • KYOCERA Corporation
Executive Summary
Scope and Definition

1 MARKETS

1.1 Trends: Current and Future Impact Assessment
  1.1.1 Trends: Overview
  1.1.2 Portable Hydrogen Fuel Cells
  1.1.3 Fuel Cell Stacks
1.2 Supply Chain Overview
  1.2.1 Value Chain Analysis
  1.2.2 Market Map
  1.2.3 Pricing Forecast
1.3 Ecosystem and Ongoing Programs
  1.3.1 Consortiums and Associations
    1.3.1.1 H-Mat: Hydrogen Materials Consortium
    1.3.1.2 HydroGEN
    1.3.1.3 ElectroCat (Electrocatalysis) Consortium
  1.3.2 Regulatory Bodies
  1.3.3 Government Programs
    1.3.3.1 India’s National Green Hydrogen Mission
    1.3.3.2 China’s Hydrogen Industry Development Plan (2021-2035)
1.4 Research and Development Review
  1.4.1 Patent Filing Trend (by Number of Patents, Country)
1.5 Regulatory Landscape
1.6 Stakeholder Analysis
  1.6.1 Use Case: Case Study: Nikola Hydrogen Fuel Cell Electric Vehicle
  1.6.2 End Users and Buying Criteria
1.7 Impact Analysis for Key Global Events - COVID-19
1.8 Market Dynamics: Overview
  1.8.1 Market Drivers
    1.8.1.1 Decarbonization Targets and Environmental Regulations
    1.8.1.2 Technological Advancements and Cost Reductions
    1.8.1.3 Potential for Integration with Other Renewable Technologies
  1.8.2 Market Restraints
    1.8.2.1 High Initial Investment Costs
    1.8.2.2 Market Penetration in Emerging Markets
    1.8.2.3 Cost Competitiveness with Conventional Fuels
  1.8.3 Market Opportunities
    1.8.3.1 Integration Services for Renewable Energy Systems
    1.8.3.2 Hydrogen Refueling Infrastructure for Urban Centers

2 REGIONS

2.1 Regional Summary
2.2 Drivers and Restraints
2.3 Asia-Pacific
  2.3.1 Regional Overview
  2.3.2 Driving Factors for Market Growth
  2.3.3 Factors Challenging the Market
  2.3.4 Application
  2.3.5 Product
  2.3.6 Asia-Pacific (by Country)
    2.3.6.1 China
    2.3.6.2 India
    2.3.6.3 Japan
    2.3.6.4 South Korea
    2.3.6.5 Rest-of-Asia-Pacific

3 MARKETS - COMPETITIVE BENCHMARKING & COMPANY PROFILES

3.1 Next Frontiers
3.2 Geographic Assessment
  3.2.1 Panasonic
    3.2.1.1 Overview
    3.2.1.2 Top Products/Product Portfolio
    3.2.1.3 Top Competitors
    3.2.1.4 Target Customers
    3.2.1.5 Key Personnel
    3.2.1.6 Analyst View
    3.2.1.7 Market Share, 2022
  3.2.2 TW Horizon Fuel Cell Technologies
    3.2.2.1 Overview
    3.2.2.2 Top Products/Product Portfolio
    3.2.2.3 Top Competitors
    3.2.2.4 Target Customers
    3.2.2.5 Key Personnel
    3.2.2.6 Analyst View
    3.2.2.7 Market Share, 2022
  3.2.3 Toshiba America Energy Systems Corporation (TAES)
    3.2.3.1 Overview
    3.2.3.2 Top Products/Product Portfolio
    3.2.3.3 Top Competitors
    3.2.3.4 Target Customers
    3.2.3.5 Key Personnel
    3.2.3.6 Analyst View
    3.2.3.7 Market Share, 2022
  3.2.4 Mitsubishi Hitachi Power Systems
    3.2.4.1 Overview
    3.2.4.2 Top Products/Product Portfolio
    3.2.4.3 Top Competitors
    3.2.4.4 Target Customers
    3.2.4.5 Key Personnel
    3.2.4.6 Analyst View
    3.2.4.7 Market Share, 2022
  3.2.5 Shanghai Pearl Hydrogen Energy Technology Co.
    3.2.5.1 Overview
    3.2.5.2 Top Products/Product Portfolio
    3.2.5.3 Top Competitors
    3.2.5.4 Target Customers
    3.2.5.5 Key Personnel
    3.2.5.6 Analyst View
    3.2.5.7 Market Share, 2022
  3.2.6 Doosan Fuel Cell Co., Ltd.
    3.2.6.1 Overview
    3.2.6.2 Top Products/Product Portfolio
    3.2.6.3 Top Competitors
    3.2.6.4 Target Customers
    3.2.6.5 Key Personnel
    3.2.6.6 Analyst View
    3.2.6.7 Market Share, 2022
  3.2.7 KYOCERA Corporation
    3.2.7.1 Overview
    3.2.7.2 Top Products/Product Portfolio
    3.2.7.3 Top Competitors
    3.2.7.4 Target Customers
    3.2.7.5 Key Personnel
    3.2.7.6 Analyst View
    3.2.7.7 Market Share, 2022

4 RESEARCH METHODOLOGY

4.1 Data Sources
  4.1.1 Primary Data Sources
  4.1.2 Secondary Data Sources
  4.1.3 Data Triangulation
4.2 Market Estimation and Forecast
List of Figures
Figure 1: Asia-Pacific Hydrogen Fuel Cell Market (by Scenario), $Billion, 2022, 2026, and 2033
Figure 2: Hydrogen Fuel Cell Market (by Region), $Million, 2022, 2026, 2033
Figure 3: Hydrogen Fuel Cell Market, Pricing Analysis (by Region), $/Watt, 2022, 2026, and 2033
Figure 4: Asia-Pacific Hydrogen Fuel Cell Market (by Application), $Million, 2022, 2026, 2033
Figure 5: Asia-Pacific Hydrogen Fuel Cell Market (by Product Type), $Million, 2022, 2026, 2033
Figure 6: Asia-Pacific Hydrogen Fuel cell Market (by Technology), $Million, 2022, 2026, 2033
Figure 7: Key Events
Figure 8: Supply Chain and Risks within the Supply Chain
Figure 9: Value Chain Analysis
Figure 10: Patent Analysis (by Number of Patents), January 2020-December 2023
Figure 11: Patent Analysis (by Country), January 2020-December 2023
Figure 12: Impact Analysis of Market Navigating Factors, 2023-2033
Figure 13: China Hydrogen Fuel Cell Market, $Million, 2022-2033
Figure 14: India Hydrogen Fuel Cell Market, $Million, 2022-2033
Figure 15: Japan Hydrogen Fuel Cell Market, $Million, 2022-2033
Figure 16: South Korea Hydrogen Fuel Cell Market, $Million, 2022-2033
Figure 17: Rest-of-Asia-Pacific Hydrogen Fuel Cell Market, $Million, 2022-2033
Figure 18: Strategic Initiatives (by Company), 2020-2023
Figure 19: Share of Strategic Initiatives, January 2020-December 2023
Figure 20: Data Triangulation
Figure 21: Top-Down and Bottom-Up Approach
Figure 22: Assumptions and Limitations
List of Tables
Table 1: Market Snapshot
Table 2: Opportunities across Regions
Table 3: Heavy-Duty Fuel Cell Truck Models
Table 4: Competitive Landscape Snapshot
Table 5: Trends Overview
Table 6: Hydrogen Fuel Cell Market Pricing Forecast (by Region), $/Watt, 2022-2033
Table 7: Regulatory Bodies
Table 8: Characteristics of Nikola FCEV Truck
Table 9: Hydrogen Fuel Cell Market (by Region), MW, 2022-2033
Table 10: Hydrogen Fuel Cell Market (by Region), $Million, 2022-2033
Table 11: Asia-Pacific Hydrogen Fuel Cell Market (by Application), MW, 2022-2033
Table 12: Asia-Pacific Hydrogen Fuel Cell Market (by Application), $Million, 2022-2033
Table 13: Asia-Pacific Hydrogen Fuel Cell Market (by Product Type), MW, 2022-2033
Table 14: Asia-Pacific Hydrogen Fuel Cell Market (by Product Type), $Million, 2022-2033
Table 15: Asia-Pacific Hydrogen Fuel Cell Market (by Technology), MW, 2022-2033
Table 16: Asia-Pacific Hydrogen Fuel Cell Market (by Technology), $Million, 2022-2033
Table 17: China Hydrogen Fuel Cell Market (by Application), MW, 2022-2033
Table 18: China Hydrogen Fuel Cell Market (by Application), $Million, 2022-2033
Table 19: China Hydrogen Fuel Cell Market (by Product Type), MW, 2022-2033
Table 20: China Hydrogen Fuel Cell Market (by Product Type), $Million, 2022-2033
Table 21: China Hydrogen Fuel Cell Market (by Technology), MW, 2022-2033
Table 22: China Hydrogen Fuel Cell Market (by Technology), $Million, 2022-2033
Table 23: India Hydrogen Fuel Cell Market (by Application), MW, 2022-2033
Table 24: India Hydrogen Fuel Cell Market (by Application), $Million, 2022-2033
Table 25: India Hydrogen Fuel Cell Market (by Product Type), MW, 2022-2033
Table 26: India Hydrogen Fuel Cell Market (by Product Type), $Million, 2022-2033
Table 27: India Hydrogen Fuel Cell Market (by Technology), MW, 2022-2033
Table 28: India Hydrogen Fuel Cell Market (by Technology), $Million, 2022-2033
Table 29: Japan Hydrogen Fuel Cell Market (by Application), MW, 2022-2033
Table 30: Japan Hydrogen Fuel Cell Market (by Application), $Million, 2022-2033
Table 31: Japan Hydrogen Fuel Cell Market (by Product Type), MW, 2022-2033
Table 32: Japan Hydrogen Fuel Cell Market (by Product Type), $Million, 2022-2033
Table 33: Japan Hydrogen Fuel Cell Market (by Technology), MW, 2022-2033
Table 34: Japan Hydrogen Fuel Cell Market (by Technology), $Million, 2022-2033
Table 35: South Korea Hydrogen Fuel Cell Market (by Application), MW, 2022-2033
Table 36: South Korea Hydrogen Fuel Cell Market (by Application), $Million, 2022-2033
Table 37: South Korea Hydrogen Fuel Cell Market (by Product Type), MW, 2022-2033
Table 38: South Korea Hydrogen Fuel Cell Market (by Product Type), $Million, 2022-2033
Table 39: South Korea Hydrogen Fuel Cell Market (by Technology), MW, 2022-2033
Table 40: South Korea Hydrogen Fuel Cell Market (by Technology), $Million, 2022-2033
Table 41: Rest-of-Asia-Pacific Hydrogen Fuel Cell Market (by Application), MW, 2022-2033
Table 42: Rest-of-Asia-Pacific Hydrogen Fuel Cell Market (by Application), $Million, 2022-2033
Table 43: Rest-of-Asia-Pacific Hydrogen Fuel Cell Market (by Product Type), MW, 2022-2033
Table 44: Rest-of-Asia-Pacific Hydrogen Fuel Cell Market (by Product Type), $Million, 2022-2033
Table 45: Rest-of-Asia-Pacific Hydrogen Fuel Cell Market (by Technology), MW, 2022-2033
Table 46: Rest-of-Asia-Pacific Hydrogen Fuel Cell Market (by Technology), $Million, 2022-2033
Table 47: Market Share


More Publications