歐洲燃料電池：市場佔有率分析、產業趨勢與統計及成長預測（2026-2031）

根據 Mordor Intelligence 估計，2026 年歐洲燃料電池市值為 38.6 億美元，預計到 2031 年將達到 172.5 億美元，在預測期（2026-2031 年）內複合年成長率為 34.91%。

本報告按技術（PEMFC、SOFC、AFC 等）、燃料類型（氫氣、天然氣/甲烷、氨氣等）、應用（汽車和非汽車）、最終用戶行業（交通運輸、公共產業、商業和工業等）以及地區（德國、法國、英國、義大利、西班牙、北歐國家、荷蘭、俄羅斯和其他歐洲國家）進行分類。

歐洲燃料電池市場的趨勢與洞察

歐盟綠色交易和「適合55歲」的氫能目標

「Fit-for-55」一攬子計畫要求到2030年，42%的工業氫氣必須來自可再生能源，並計畫在2035年將這一比例提高到60%。這將鞏固燃料電池在交通運輸和分散式發電領域的應用需求。德國的「2024年國家氫能戰略」累計35億歐元用於安裝10吉瓦的國產電解，而法國的「氫能2.0計畫」則撥款54億歐元，用於到2030年開發6.5吉瓦的電解和1000座重型車輛加氫站。 REPowerEU舉措的目標是到2030年實現2,000萬噸的氫氣消費量，從而穩定歐洲燃料電池市場的長期需求。 2024年制定的「生物來源可再生燃料」標準要求其生命週期排放量比化石氫減少70%，這正在推動綠色氫能計畫的發展。這些政策為降低考慮多年投資期的車輛業者的監管風險奠定了基礎。

電解槽和氫氣加註基礎設施的快速擴張

到2025年底，電解槽的運作中產能將達到6.1吉瓦，另有12吉瓦正在興建或已獲得資金籌措支持。德國H2Global公司已獲得一份價值9億歐元的進口契約，而荷蘭已建成52座大型車輛加氫站，完善了鹿特丹和下薩克森州之間的加氫走廊。丹麥HySynergy公司在埃斯比雅爾將一座250兆瓦的電解槽與離岸風力發電結合，以每公斤3.20歐元的價格供應氫氣。道達爾能源計畫在2028年透過維修歐洲各地600座加油站並安裝加氫設備來提高網路密度。目前，基礎設施覆蓋率已足夠高，物流管理人員可以規劃長途貨車路線而無需繞路，這消除了燃料電池技術在歐洲廣泛應用的一大障礙。

高鉑金含量和初始資本支出（CAPEX）

PEMFC（質子交換膜燃料電池）每千瓦需要0.3至0.5克鉑金，以2025年現貨價格計算，催化劑成本將為每千瓦150至200美元，約佔電池堆成本的25%至30%。在西班牙和義大利，補貼可涵蓋40%至50%的額外成本，但投資回收期遠超正常的車輛更換週期。鉑金供應集中在南非和俄羅斯，使歐洲買家面臨地緣政治風險。廢棄電池堆的回收率僅15%至20%，而觸媒轉換器的回收率高達95%，這迫使人們依賴新型金屬。歐洲地平線計畫旨在實現無鉑族金屬陰極材料的商業化，但其耐久性尚未達到重型卡車10000小時的目標，限制了短期成本的降低。

細分市場分析

預計從2026年到2031年，固體氧化物燃料電池（SOFC）的複合年成長率將達到47.5%，主要得益於其在工業設施中高達85%至90%的熱電聯產效率。 Ceres Power公司的「Steel Cell」燃料電池運作為500至650度C，無需貴金屬催化劑，並且可以使用天然氣、沼氣或氫氣作為燃料，從而降低了燃料轉換的風險。 Bloom Energy公司在2024年至2025年間，在歐洲資料中心部署了總合240兆瓦的SOFC，實現了99.9%的運轉率。相較之下，聚合物電解質膜燃料電池（PEMFC）在2025年仍保持著59.9%的市場佔有率，這主要得益於其快速啟動和緊湊的機殼設計，使其在公共汽車和卡車等應用領域具有優勢。在固定式燃料電池領域，磷酸和熔融碳酸鹽技術目前在歐洲燃料電池市場中所佔佔有率不到 5%，而且其佔有率還在持續下降。

固態氧化物燃料電池（SOFC）供應商正受惠於將高溫熱電汽電共生納入工業脫碳目標的政策。歐盟委員會2024年的研究預測，如果氫氣價格降至每公斤4歐元以下，到2028年，SOFC的總擁有成本將低於燃氣引擎。博世的「以電池為中心」計畫也致力於透過將質子交換膜燃料電池（PEMFC）與電池驅動系統整合，將卡車續航里程提升至1000公里，這表明多技術組合可以有效規避監管和材料成本風險。因此，歐洲燃料電池市場正日益根據應用領域進行細分。

到2025年，氫氣將佔據61.3%的市場佔有率，這得益於700巴標準（相當於柴油加註時間）的確立。然而，隨著航運和島嶼電網對更高能量密度和更簡單物流的需求不斷成長，預計到2031年，氨將以51.1%的複合年成長率超越所有其他燃料。西門子能源和阿爾法·拉瓦爾公司聯合開發的2兆瓦直接氨固體氧化物燃料電池（SOFC）已安裝在馬士基船舶上，無需船上裂解即可實現60%的效率，並符合國際海事組織（IMO）Tier III氮氧化物排放標準。西班牙巴利阿里群島已訂購AFC能源公司建造一座20兆瓦的氨廠，以取代柴油發電機。天然氣燃料SOFC已獲得12-15%的市場佔有率，但由於化石燃料不符合綠色金融的要求，其成長受到限制。

國際海事組織（IMO）的中期溫室氣體（GHG）策略要求到2030年將排放強度降低20%，到2040年降低70%，這使得氨燃料電池成為遠洋航行合規的關鍵。雖然甲醇目前仍僅限於生產地周邊地區的車輛使用，但沼氣燃料電池在碳排放強度為負的廢水處理廠中佔據著獨特的市場地位。因此，燃料多樣化正在重塑歐洲燃料電池市場的供應鏈和加註基礎設施。

其他好處：

• Excel格式的市場預測（ME）表
• 3個月的分析師支持

目錄

第1章：引言

• 研究假設和市場定義
• 調查範圍

第2章：調查方法

第3章執行摘要

第4章 市場狀況

• 市場概覽
• 市場促進因素
  • 歐盟綠色新政和「適合55歲」的氫能目標
  • 電解槽和氫氣加註基礎設施的快速發展
  • 企業為實現車輛（巴士和卡車）脫碳所做的努力
  • 北海風力發電氫氣計畫造成的氫氣過剩正在降低氫氣的低成本 (LCOH)。
  • IPCEI支援的燃料電池超級工廠降低了堆疊成本
  • 歐盟永續金融分類法能夠利用低成本資本。
• 市場限制因素
  • 高鉑金含量和初始資本投資
  • 大型氫氣運輸走廊的覆蓋範圍有限。
  • PEM薄膜的PFAS法規即將訂定。
  • 由於電網堵塞，可再生能源驅動的電解裝置的引入受到延誤。
• 供應鏈分析
• 監理情勢
• 技術展望
• 波特五力模型

第5章 市場規模與成長預測

• 透過技術
  • 聚合物電解質膜燃料電池（PEMFC）
  • 固體氧化物燃料電池（SOFC）
  • 鹼性電解質燃料電池（AFC）
  • 其他類型的燃料電池包括：磷酸燃料電池（PAFC）、熔融碳酸鹽燃料電池（MCFC）和直接甲醇燃料電池（DMFC）。
• 按燃料類型
  • 氫
  • 天然氣/甲烷
  • 氨
  • 其他（甲醇、沼氣）
• 透過使用
  • 車輛（乘用車、巴士/長途汽車、卡車、物料搬運設備、鐵路、船舶）
  • 非汽車應用（固定式發電、可攜式電源、微型汽電共生）
• 按最終用戶行業分類
  • 運輸
  • 公用事業
  • 商業和工業用途
  • 其他（國防、住宅）
• 按地區
  • 德國
  • 法國
  • 英國
  • 義大利
  • 西班牙
  • 北歐國家
  • 荷蘭
  • 俄羅斯
  • 其他歐洲國家

第6章 競爭情勢

• 市場集中度
• 策略趨勢（併購、聯盟、購電協議）
• 市場佔有率分析（主要公司的市場排名和佔有率）
• 公司簡介
  • Ballard Power Systems
  • Plug Power
  • Cummins Inc.
  • Topsoe
  • Ceres Power
  • PowerCell Sweden
  • Bosch（cellcentric）
  • ElringKlinger/EKPO
  • Symbio
  • Intelligent Energy
  • Nedstack
  • SFC Energy
  • AFC Energy
  • Bloom Energy
  • Doosan Fuel Cell
  • ITM Power
  • Proton Motor Fuel Cell
  • Nuvera Fuel Cells
  • Alstom
  • Siemens Energy
  • Toyota Motor Europe

第7章 市場機會與未來展望

According to Mordor Intelligence, the Europe fuel cell market size is estimated at USD 3.86 billion in 2026, and is expected to reach USD 17.25 billion by 2031, at a CAGR of 34.91% during the forecast period (2026-2031).

This report is Segmented by Technology (PEMFC, SOFC, AFC, and Others), Fuel Type (Hydrogen, Natural Gas/Methane, Ammonia, and Others), Application (Vehicular and Non-Vehicular), End-User Industry (Transportation, Utilities, Commercial and Industrial, and Others), and Geography (Germany, France, United Kingdom, Italy, Spain, NORDIC Countries, Netherlands, Russia, and Rest of Europe).

Europe Fuel Cell Market Trends and Insights

EU Green Deal & Fit-for-55 Hydrogen Targets

The Fit-for-55 package requires 42% of industrial hydrogen to come from renewable sources by 2030, rising to 60% by 2035, anchoring demand for fuel-cell applications across mobility and distributed power. Germany's 2024 National Hydrogen Strategy sets aside EUR 3.5 billion for 10 gigawatts of domestic electrolysers, while France's Plan Hydrogene 2.0 allocates EUR 5.4 billion for 6.5 gigawatts and 1,000 heavy-duty refueling points by 2030. The REPowerEU initiative targets 20 million tonnes of hydrogen consumption by 2030, stabilizing long-term offtake for the European fuel cell market. Renewable Fuel of Non-Biological Origin standards finalized in 2024 demand 70% lifecycle emissions savings versus fossil hydrogen, driving green-hydrogen projects. These policy anchors reduce regulatory risk for fleet operators evaluating multi-year investment horizons.

Rapid Build-Out of Electrolyser & H2-Refuelling Infrastructure

Operating electrolyser capacity climbed to 6.1 gigawatts by end-2025, with another 12 gigawatts in construction or committed financing. Germany's H2Global awarded EUR 900 million in import contracts, while the Netherlands completed 52 heavy-duty stations that close the Rotterdam-Lower Saxony corridor. Denmark's HySynergy couples a 250-megawatt electrolyser with offshore wind at Esbjerg, delivering hydrogen at EUR 3.20 per kilogram. TotalEnergies will retrofit 600 European service stations with hydrogen dispensers by 2028, accelerating network density. Infrastructure coverage is now sufficient for logistics managers to route long-haul trucks without detours, addressing a critical European fuel cell market adoption barrier.

High Platinum Content & Upfront CAPEX

PEMFCs require 0.3-0.5 grams of platinum per kilowatt, translating to USD 150-200 per kilowatt in catalyst cost at 2025 spot prices, roughly 25-30% of stack expense. Spain and Italy, where subsidies cover 40-50% of incremental cost, see payback periods stretching beyond typical fleet refresh cycles. Platinum supply is concentrated in South Africa and Russia, exposing European buyers to geopolitical risk. Recycling covers only 15-20% of end-of-life stacks versus 95% for catalytic converters, forcing reliance on virgin metal. Horizon Europe projects aim to commercialize PGM-free cathodes, but durability remains below the 10,000-hour target for heavy-duty trucks, constraining near-term cost reduction.

Other drivers and restraints analyzed in the detailed report include:

1. Corporate Fleet Decarbonization Commitments (Buses & Trucks)
2. IPCEI-Backed Fuel-Cell Gigafactories Reducing Stack Costs
3. Sparse Heavy-Duty H2 Corridor Coverage

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Solid Oxide Fuel Cells are scaling at a 47.5% CAGR during 2026-2031, driven by an 85-90% combined heat-and-power efficiency at industrial sites. Ceres Power's Steel Cell operates at 500-650 °C, avoiding precious-metal catalysts and accepting natural gas, biogas, or hydrogen feeds, lowering fuel-switching risk. Bloom Energy installed 240 megawatts of SOFCs across European data centers in 2024-2025, providing 99.9% uptime. In contrast, Polymer Electrolyte Membrane Fuel Cells retained 59.9% market share in 2025 as rapid start-up and compact packaging underpin bus and truck applications. Within stationary power, phosphoric-acid and molten-carbonate technologies now account for less than 5% of the European fuel cell market size and continue to decline.

SOFC vendors benefit from policies that count high-temperature cogeneration toward industrial decarbonization targets. The European Commission's 2024 study projected SOFC total-cost-of-ownership undercutting gas engines by 2028 if hydrogen prices drop below EUR 4.00 per kilogram. Bosch's cellcentric venture is also integrating PEMFCs with battery-electric drivetrains for a 1,000-kilometer truck range, showing how multi-technology portfolios can hedge regulatory and material-cost risk. Consequently, technology choice is fragmenting along application lines inside the European fuel cell market.

Hydrogen held a 61.3% share in 2025 due to established 700-bar standards that mirror diesel refueling times. However, ammonia is outstripping all other fuels with a 51.1% CAGR through 2031 as maritime and island grids seek higher energy density and simpler logistics. Siemens Energy and Alfa Laval's 2-megawatt direct-ammonia SOFC aboard a Maersk vessel reached 60% efficiency without onboard cracking, meeting IMO Tier III NOx rules. Spain's Balearic Islands contracted AFC Energy for a 20-megawatt ammonia plant that displaces diesel gensets. Natural-gas-fed SOFCs captured a 12-15% share but face growth limits because fossil-derived fuels lack green-finance alignment.

IMO's mid-term GHG strategy mandates a 20% intensity cut by 2030 and 70% by 2040, making ammonia fuel cells central to transoceanic compliance. Methanol remains confined to regional fleets near production hubs, while biogas fuel cells occupy a negative-carbon-intensity niche at wastewater plants. Consequently, fuel diversification is reshaping supply chains and refueling infrastructure within the European fuel cell market.

Complete Report Scope:

• By Technology
  • Polymer Electrolyte Membrane Fuel Cell (PEMFC)
  • Solid Oxide Fuel Cell (SOFC)
  • Alkaline Fuel Cell (AFC)
  • Others [Phosphoric Acid Fuel Cell (PAFC), Molten Carbonate Fuel Cell (MCFC), Direct Methanol Fuel Cell (DMFC)]
• By Fuel Type
  • Hydrogen
  • Natural Gas/Methane
  • Ammonia
  • Others (Methanol, Biogas)
• By Application
  • Vehicular (Passenger Cars, Buses & Coaches, Trucks, Material Handling Equipment, Rail, Marine Vessels)
  • Non-Vehicular (Stationary Power, Portable Power, Micro-Combined Heat & Power)
• By End-User Industry
  • Transportation
  • Utilities
  • Commercial and Industrial
  • Others (Defense, Residential)
• By Geography
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • NORDIC Countries
  • Netherlands
  • Russia
  • Rest of Europe

List of Companies Covered in this Report:

1. Ballard Power Systems
2. Plug Power
3. Cummins Inc.
4. Topsoe
5. Ceres Power
6. PowerCell Sweden
7. Bosch (cellcentric)
8. ElringKlinger / EKPO
9. Symbio
10. Intelligent Energy
11. Nedstack
12. SFC Energy
13. AFC Energy
14. Bloom Energy
15. Doosan Fuel Cell
16. ITM Power
17. Proton Motor Fuel Cell
18. Nuvera Fuel Cells
19. Alstom
20. Siemens Energy
21. Toyota Motor Europe

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions & Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 EU Green Deal & Fit-for-55 hydrogen targets
  • 4.2.2 Rapid build-out of electrolyser & H2-refuelling infrastructure
  • 4.2.3 Corporate fleet decarbonisation commitments (buses & trucks)
  • 4.2.4 Surplus North-Sea wind-to-hydrogen projects lowering LCOH
  • 4.2.5 IPCEI-backed fuel-cell gigafactories reducing stack costs
  • 4.2.6 EU sustainable-finance taxonomy unlocking low-cost capital
• 4.3 Market Restraints
  • 4.3.1 High platinum content & upfront CAPEX
  • 4.3.2 Sparse heavy-duty H2 corridor coverage
  • 4.3.3 Impending PFAS restrictions on PEM membranes
  • 4.3.4 Grid-congestion delays to renewable powered electrolysers
• 4.4 Supply-Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces
  • 4.7.1 Bargaining Power of Suppliers
  • 4.7.2 Bargaining Power of Consumers
  • 4.7.3 Threat of New Entrants
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Competitive Rivalry

5 Market Size & Growth Forecasts

• 5.1 By Technology
  • 5.1.1 Polymer Electrolyte Membrane Fuel Cell (PEMFC)
  • 5.1.2 Solid Oxide Fuel Cell (SOFC)
  • 5.1.3 Alkaline Fuel Cell (AFC)
  • 5.1.4 Others [Phosphoric Acid Fuel Cell (PAFC), Molten Carbonate Fuel Cell (MCFC), Direct Methanol Fuel Cell (DMFC)]
• 5.2 By Fuel Type
  • 5.2.1 Hydrogen
  • 5.2.2 Natural Gas/Methane
  • 5.2.3 Ammonia
  • 5.2.4 Others (Methanol, Biogas)
• 5.3 By Application
  • 5.3.1 Vehicular (Passenger Cars, Buses & Coaches, Trucks, Material Handling Equipment, Rail, Marine Vessels)
  • 5.3.2 Non-Vehicular (Stationary Power, Portable Power, Micro-Combined Heat & Power)
• 5.4 By End-User Industry
  • 5.4.1 Transportation
  • 5.4.2 Utilities
  • 5.4.3 Commercial and Industrial
  • 5.4.4 Others (Defense, Residential)
• 5.5 By Geography
  • 5.5.1 Germany
  • 5.5.2 France
  • 5.5.3 United Kingdom
  • 5.5.4 Italy
  • 5.5.5 Spain
  • 5.5.6 NORDIC Countries
  • 5.5.7 Netherlands
  • 5.5.8 Russia
  • 5.5.9 Rest of Europe

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves (M&A, Partnerships, PPAs)
• 6.3 Market Share Analysis (Market Rank/Share for key companies)
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products & Services, and Recent Developments)
  • 6.4.1 Ballard Power Systems
  • 6.4.2 Plug Power
  • 6.4.3 Cummins Inc.
  • 6.4.4 Topsoe
  • 6.4.5 Ceres Power
  • 6.4.6 PowerCell Sweden
  • 6.4.7 Bosch (cellcentric)
  • 6.4.8 ElringKlinger / EKPO
  • 6.4.9 Symbio
  • 6.4.10 Intelligent Energy
  • 6.4.11 Nedstack
  • 6.4.12 SFC Energy
  • 6.4.13 AFC Energy
  • 6.4.14 Bloom Energy
  • 6.4.15 Doosan Fuel Cell
  • 6.4.16 ITM Power
  • 6.4.17 Proton Motor Fuel Cell
  • 6.4.18 Nuvera Fuel Cells
  • 6.4.19 Alstom
  • 6.4.20 Siemens Energy
  • 6.4.21 Toyota Motor Europe

7 Market Opportunities & Future Outlook

• 7.1 White-space & Unmet-Need Assessment