Portable Fuel Cell Market Size

Portable Fuel Cell Market size was valued at USD 3.79 Billion in 2023 and is likely to reach USD 77.97 Billion by the end of 2036, expanding at around 26.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of portable fuel cell is assessed at USD 4.68 Billion. The primary growth factor for the development of the global market during the forecast period is the rising demand for energy along with the need for an uninterrupted power supply to carry out various applications and services. As per recent statistics, it is forecasted that the global electricity demand is expected to considerably grow by the end of 2023. Furthermore, it is stated that an additional 2,500 terawatt hours (TWh) of electricity demand is anticipated to be added by 2025. Thus, this 9% growth would take the global electricity demand to almost 30,000 terawatt hours (TWh).

A portable fuel cell is a technologically advanced device that acts as a battery, and does not need recharging or does not run down, as long as fuel is supplied as an oxidant. Hence, these portable fuel cells are a high-demand product in numerous industries including automotive, electrical & electronics, and others. This is considered to be a major factor for market growth during the predicted period.