- The market is expanding as both government initiatives and corporate investments focus on advancing hydrogen infrastructure and fuel cell technologies
- Key factors propelling market growth include stringent emission standards, advancements in hydrogen storage and fuel cell technology, and growing investments in research and development. Governments worldwide are implementing policies and providing incentives to promote the adoption of hydrogen fuel cell vehicles, contributing to market expansion
- Asia-Pacific dominated the fuel cell power train market with the largest revenue share of 46.5% in 2024, driven by rising investments in clean mobility, favorable government policies for hydrogen infrastructure, and increasing production of fuel cell vehicles across countries such as China, Japan, and South Korea
- North America fuel cell power train market is poised to grow at the fastest CAGR of 18.7% from 2025 to 2032, fueled by increasing investments in clean energy, growing demand for zero-emission vehicles, and the development of robust hydrogen refueling infrastructure across the U.S. and Canada
