Europe Fuel Cell Market Size - By Application (Stationary, Portable, Transport), By Product (PEMFC, DMFC, SOFC, PAFC & AFC, MCFC), By Size, By End Use, By Fuel, 2025 – 2034

Europe Fuel Cell Market Size

The Europe fuel cell market size was valued at USD 1.28 billion in 2024 and is anticipated to grow at a CAGR of 10.9% from 2025 to 2034. Various funding schemes, such as the National Innovation Program Hydrogen and Fuel Cell Technology (NIP), provide financing support for R&D, demonstration projects, and market activation of hydrogen technologies, thereby driving market expansion.

Aviation fuel cell projects promoted by the government are expected to drive high-power fuel cell systems growth in Europe. Future developments will go collectively with the growth of next-generation aerospace technology and support market growth.
 

Substantial investment and coordinated efforts across countries to build a comprehensive network of refueling stations will strengthen the market landscape. Furthermore, increased funding from both the public sector and private investments is accelerating the deployment of fuel cell technologies, which will stimulate the product adoption.
 

The growth of residential fuel cell micro-CHP systems is expected to complement the stationary fuel cell market in Europe. In April 2023, the PACE project deployed over 2,600 units of fuel cell micro-CHP in nine European nations. This has resulted in over USD 211 million of industry investment and a 400% increase in manufacturing capacity, which signifies a tremendous boost for the market. Moreover, the success of the project will lead to additional adoption of fuel cell technologies.
 

Fuel cells are being utilized in backup power solutions across data centers, telecommunications, and other essential infrastructure, thus favorably influencing the business dynamics. Continued collaborations with nations including Norway, the U.S., and the Middle East, to obtain a stable and sustainable hydrogen source for Europe, will propel business momentum.
 

New tariff policies implemented during the Trump period will likely impact the European fuel cell industry. Additional duties imposed on imported components, especially Asian imports, can raise production costs and restrict access to critical materials. This would likely reduce the production and installation of premium fuel cell systems. In addition, existing trade barriers will likely create supply chain hazards that will limit global cooperation and regional market growth.
 

Europe Fuel Cell Market Trends

• Development in the integration of hydrogen infrastructure into national decarbonization plans is expected to facilitate the penetration of fuel cell technologies in Europe. Increased policy coordination between the energy and transport sectors, along with increased investments in pan-regional hydrogen corridors, will enable multi-sector fuel cell installation. Furthermore, the transition toward localized energy resilience and clean mobility will continue to shape product penetration throughout industrial and transport applications, driving long-term market expansion.
   
• Joint research projects in fuel cell technologies are expected to fuel market growth. For instance, in January 2023, the HyPoTraDe project received USD 4.8 million to develop a 500 kW modular fuel cell-battery hybrid-electric powertrain for the aviation industry. The objective is to demonstrate system capability, advance fuel cell technology, and increase European competitiveness. Further, these projects will enhance the adoption of fuel cell solutions in industries.
   
• The EU's aggressive vision of becoming climate-neutral by 2050 and setting up hydrogen strategies at the country level will propel product demand. For example, in 2024, the European Commission's REPowerEU plan and Hydrogen Accelerator are compelling greater investment in hydrogen infrastructure, including production plants, storage tanks, and refueling stations.
   
• Efforts to decarbonize public mobility and rising demand for zero-emission transport solutions are anticipated to augment the European fuel cell market. In October 2023, Ballard Power Systems secured an order for 170 hydrogen fuel cell engines to power Solaris buses in Europe. This highlights the rising demand for fuel cells in public transportation. Additionally, the electrification of clean fleets will further promote long-term fuel cell adoption in the region.
   

Europe Fuel Cell Market Analysis

• The European fuel cell industry was valued at USD 1.2 billion, USD 1.23 billion, and USD 1.28 billion in 2022, 2023, and 2024, respectively. Based on applications, the industry is segmented into stationary, portable, and transport categories.
   
• The portable segment is expected to grow at a rate of over 11.5% from 2025 to 2034 due to the rising adoption of off-grid and zero-emission power solutions. In June 2024, SFC Energy AG reported a follow-up order of USD 4.3 million by Fuel Cell Systems Ltd. for EFOY methanol fuel cells and accessories, evidencing growing adoption within the UK and Netherlands. The collaboration highlights the growing need for low-maintenance, dependable portable power systems, and hence, powering industry growth in the market.
   
• The stationary segment held a market share of 18.9% in 2024, which is expected to improve further by 2034, due to increasing deployment of distributed energy systems, rising demand for uninterrupted power supply in critical infrastructure, and growing emphasis on grid decentralization. Better long-duration energy storage and supportive government policies for decarbonizing power and heat generation will also influence the increased adoption of stationary fuel cell systems in industrial, commercial, and residential markets.
   
• The transportation segment is estimated to be valued at more than USD 2.8 billion by 2034, driven by surging attempts at decarbonizing heavy-duty fleets of vehicles. In April 2024, Ballard Power Systems signed an extended agreement with Solaris for the delivery of 1,000 hydrogen fuel cell engines for European buses with delivery through 2027. Widespread adoption is expected to accelerate fuel cell technology use in transportation, boosting market expansion.
   

• Based on product, the market is segmented into PEMFC, DMFC, SOFC, PAFC & AFC, and MCFC categories. The PEMFC segment held a market share of 50.1% in 2024, following its high-power density, quick start-up times, and versatility to suit a range of applications. In April 2022, Cummins provided PEM fuel cells to Scania to power Fuel Cell Electric Vehicles (FCEVs) and has plans to deploy 1,000 zero-emission trucks and open 25 hydrogen fueling stations by 2025. This fuels the increasing adoption of PEMFCs in the transportation sector, driving market growth.
   
• The MCFC segment is set to grow at over 14.2% CAGR till 2034 due to the rising need for high-capacity fuel cells in utility-scale and industrial cogeneration applications. Enhanced tolerance to fuel impurities, scalability, and potential for carbon capture integration will foster MCFC deployment. Increasing emphasis on reducing carbon intensity in large-scale power systems will complement the segment's penetration across the European market.
   
• The DMFC segment is expected to grow at a CAGR of more than 12.5% from 2025 to 2034 due to the increasing demand for compact and clean energy solutions in off-grid and backup applications. In February 2023, Blue World Technologies launched the CellPack Stationary methanol fuel cell system, offering 5–15 kW output with 38–40% efficiency and carbon-neutral operation. It is anticipated to augment the adoption of DMFCs owing to increasing emphasis on sustainable decentralized energy solutions.
   
• The PAFC & AFC segment is estimated to be valued at over USD 760 million by 2034, due to their applicability to medium-scale stationary power uses. Stable performance at high temperatures and reliable operation in combined heat and power applications will enhance the product’s adoption. Ongoing technology improvements for efficiency gains and acceptance of diversified hydrogen fuel sources will propel the segment's growth in decentralized energy grids.
   
• The SOFC segment held a market share of 21.2% in 2024, which is expected to improve further by 2034, due to growing demand for durable, efficient power systems in industrial and utility-scale applications. The NewSOC project, concluded in December 2022, achieved a 25% reduction in area-specific resistance and a 25% rise in cycling stability while lowering degradation to below 1% per 1000 hours. Additionally, rising investment in high-temperature fuel cell technologies will further support market growth.
   

• The German fuel cell market was valued at USD 390 million, USD 400 million, and USD 410 million in 2022, 2023, and 2024, respectively. Strong policy backing, substantial public funding, and a robust hydrogen strategy are set to influence product expansion. For instance, in November 2024, Daimler Truck received approximately USD 257 million in funding from the German federal government and state governments to finance its hydrogen fuel cell truck program.
   
• France's fuel cell industry will expand at a CAGR of more than 10.3% from 2025 to 2034. Several French players, including HDF Energy, McPhy Energy, and Symbio, are working to increase fuel cell production and hydrogen infrastructure, establishing a local value chain. For instance, in June 2024, HDF Energy opened the world’s first facility dedicated to producing fuel cells over 1 MW to support rail transport and heavy-duty maritime.
   
• Spain fuel cell market is set to grow at over 11.6% CAGR till 2034, owing to several ongoing pilot projects to test the use of fuel cells for industrial applications. The ongoing adoption of Power-to-Gas and Power-to-X projects to ensure grid stability will stimulate the product penetration. In addition, several research organizations, including CIEMAT and Universidad Politécnica de Madrid, are conducting research to improve fuel cell efficiencies, thereby augmenting the business scenario.
   

Europe Fuel Cell Market Share

• The top 5 players, AFC Energy, Ballard Power Systems, Bloom Energy, Cummins, and Aisin Corporation, account for over 45.4% of the European fuel cell market. The strategies focus on advancing the technology through various joint ventures to further enhance efficiency and durability.
   
• Ongoing measures to scale up production to reduce costs and enable adoption across transportation, industrial, and power generation sectors will contribute to the business scenario. Leading players are expanding their manufacturing capacity across the region to comply with the increasing demand and align with the set hydrogen targets.
   

Europe Fuel Cell Market Companies

• Ballard Power Systems has three facilities spanning over 22,000 m2, producing over 1 GW of MEA’s and fuel cell stacks. The company has manufacturing facilities in the U.S. and Denmark with joint venture operations in China. There are about 1 GW fuel cells shipped to date. In March 2025, Ballard Power Systems, a leading commercial vehicle manufacturer in Egypt, entered into a supply agreement for approximately 5 MW of fuel cell engines.
   
• Plug Power specializes in the development of hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity. The company offers a wide range of hydrogen fuel cell solutions. In April 2025, Plug Power Inc. and Olin Corporation’s joint venture, Hidrogenii, has commenced operations at its hydrogen liquefaction facility in U.S., with a capacity of 15 metric tons per day (TPD).
   

Eminent players operating in the European fuel cell industry are:

• Aisin Corporation
• AFC Energy
• Bloom Energy
• Ballard Power Systems
• Cummins
• Ceres
• Nedstack Fuel Cell Technology
• Nuvera Fuel Cells
• Panasonic Corporation
• Robert Bosch
• SFC Energy
• TW Horizon Fuel Cell Technologies 
   

Europe Fuel Cell Industry News

• In November 2024, Bloom Energy and American Electric Power (AEP) agreed to buy one gigawatt of Bloom Energy's fuel cell facilities. The project aims to support electricity generation for both AI data centers and commercial buildings. AEP placed the first order for 100 MW of SOFCs, with additional orders expected in 2025.
   
• In April 2024, Nuvera Fuel Cells received USD 14 million in the Qualifying Advanced Energy Project Tax Credit (48C) from the U.S. Internal Revenue Service. The company intends to use these credits to increase fuel cell production at its headquarters in Billerica, Massachusetts. This location is essential for fuel cell stack and system engineering, R&D, product development, and manufacturing.
   

This Europe fuel cell market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Million & MW” from 2021 to 2034, for the following segments:

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Market, By Application

• Stationary
  • 200 kW
  • 200 kW - 1 MW
  • ≥ 1 MW
• Portable
• Transport
  • Marine
  • Railways
  • FCEV’s
  • Others

Market, By Product

• PEMFC
• DMFC
• SOFC
• PAFC & AFC
• MCFC

Market, By End Use

• Residential
• Commercial & industrial
• Data centers
• Military and defense
• Utilities & government
• Transportation

Market, By Size

• Small scale
• Large scale

Market, By Fuel

• Hydrogen
• Methanol
• Ammonia
• Hydrocarbons

The above information has been provided for the following countries:

• Germany
• UK
• France
• Italy
• Spain
• Austria