According to Cognitive Market Research, the global hydrogen fuel cell market size will be USD 4251.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 26.20% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 1700.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1275.48 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 977.87 million in 2024 and will grow at a compound annual growth rate (CAGR) of 28.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 212.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 85.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.9% from 2024 to 2031.
The portable held the highest hydrogen fuel cell market revenue share in 2024.
