

The global Liquid Cooled Fuel Cell Stack market size is predicted to grow from US$ 1612 million in 2025 to US$ 2801 million in 2031; it is expected to grow at a CAGR of 9.6% from 2025 to 2031.
According to data released by the China Association of Automobile Manufacturers, in December 2022, the production and sales of hydrogen fuel cell vehicles in China was 653 and 607, respectively. In the whole year of 2022, the production and sales of hydrogen fuel cell vehicles was 3,626 and 3,367, a year-on-year increase of 105.4% and 112.8%, respectively. According to our Fuel Cell Research Center, by the end of 2022, the number of fuel cell vehicles in the world had reached 67,000 units, a year-on-year increase of 36.6%. Among them, the number of fuel cell vehicles in China was 12,682 units. The fuel cell stack is the core component of the fuel cell system and can be divided into two types: liquid cooling and air cooling. Among them, air cooling accounts for more than 60%. The core global fuel cell stack companies mainly include Panasonic, Plug Power, Toshiba ESS, Hyundai Mobis, Ballard, Toyota and SinoHytec, of which the TOP5 companies account for 53%.
The “Liquid Cooled Fuel Cell Stack Industry Forecast” looks at past sales and reviews total world Liquid Cooled Fuel Cell Stack sales in 2024, providing a comprehensive analysis by region and market sector of projected Liquid Cooled Fuel Cell Stack sales for 2025 through 2031. With Liquid Cooled Fuel Cell Stack sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Liquid Cooled Fuel Cell Stack industry.
This Insight Report provides a comprehensive analysis of the global Liquid Cooled Fuel Cell Stack landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Liquid Cooled Fuel Cell Stack portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Liquid Cooled Fuel Cell Stack market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Liquid Cooled Fuel Cell Stack and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Liquid Cooled Fuel Cell Stack.
This report presents a comprehensive overview, market shares, and growth opportunities of Liquid Cooled Fuel Cell Stack market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Below 50kW
50-100kW
100-200kW
Others
Segmentation by Application:
Passenger Vehicle
Commercial Vehicle
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Ballard Power
Aerospace Hydrogen Energy (Shanghai)
EKPO Fuel Cell Technologies
Qinneng
Beijing Nowogen
Beijing Innoreagen
Guangdong Sino-Synergy Hydrogen Energy
Sunrise Power
Shanghai Shenli
Jiangsu GPTFC System
Zhejiang Fenergy
Hydro2Power SRL
Arco FC
TerraLIX
Hyzon Motors
Key Questions Addressed in this Report
What is the 10-year outlook for the global Liquid Cooled Fuel Cell Stack market?
What factors are driving Liquid Cooled Fuel Cell Stack market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Liquid Cooled Fuel Cell Stack market opportunities vary by end market size?
How does Liquid Cooled Fuel Cell Stack break out by Type, by Application?
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Liquid Cooled Fuel Cell Stack Annual Sales 2020-2031
2.1.2 World Current & Future Analysis for Liquid Cooled Fuel Cell Stack by Geographic Region, 2020, 2024 & 2031
2.1.3 World Current & Future Analysis for Liquid Cooled Fuel Cell Stack by Country/Region, 2020, 2024 & 2031
2.2 Liquid Cooled Fuel Cell Stack Segment by Type
2.2.1 Below 50kW
2.2.2 50-100kW
2.2.3 100-200kW
2.2.4 Others
2.3 Liquid Cooled Fuel Cell Stack Sales by Type
2.3.1 Global Liquid Cooled Fuel Cell Stack Sales Market Share by Type (2020-2025)
2.3.2 Global Liquid Cooled Fuel Cell Stack Revenue and Market Share by Type (2020-2025)
2.3.3 Global Liquid Cooled Fuel Cell Stack Sale Price by Type (2020-2025)
2.4 Liquid Cooled Fuel Cell Stack Segment by Application
2.4.1 Passenger Vehicle
2.4.2 Commercial Vehicle
2.5 Liquid Cooled Fuel Cell Stack Sales by Application
2.5.1 Global Liquid Cooled Fuel Cell Stack Sale Market Share by Application (2020-2025)
2.5.2 Global Liquid Cooled Fuel Cell Stack Revenue and Market Share by Application (2020-2025)
2.5.3 Global Liquid Cooled Fuel Cell Stack Sale Price by Application (2020-2025)
3 Global by Company
3.1 Global Liquid Cooled Fuel Cell Stack Breakdown Data by Company
3.1.1 Global Liquid Cooled Fuel Cell Stack Annual Sales by Company (2020-2025)
3.1.2 Global Liquid Cooled Fuel Cell Stack Sales Market Share by Company (2020-2025)
3.2 Global Liquid Cooled Fuel Cell Stack Annual Revenue by Company (2020-2025)
3.2.1 Global Liquid Cooled Fuel Cell Stack Revenue by Company (2020-2025)
3.2.2 Global Liquid Cooled Fuel Cell Stack Revenue Market Share by Company (2020-2025)
3.3 Global Liquid Cooled Fuel Cell Stack Sale Price by Company
3.4 Key Manufacturers Liquid Cooled Fuel Cell Stack Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Liquid Cooled Fuel Cell Stack Product Location Distribution
3.4.2 Players Liquid Cooled Fuel Cell Stack Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2023-2025)
3.6 New Products and Potential Entrants
3.7 Market M&A Activity & Strategy
4 World Historic Review for Liquid Cooled Fuel Cell Stack by Geographic Region
4.1 World Historic Liquid Cooled Fuel Cell Stack Market Size by Geographic Region (2020-2025)
4.1.1 Global Liquid Cooled Fuel Cell Stack Annual Sales by Geographic Region (2020-2025)
4.1.2 Global Liquid Cooled Fuel Cell Stack Annual Revenue by Geographic Region (2020-2025)
4.2 World Historic Liquid Cooled Fuel Cell Stack Market Size by Country/Region (2020-2025)
4.2.1 Global Liquid Cooled Fuel Cell Stack Annual Sales by Country/Region (2020-2025)
4.2.2 Global Liquid Cooled Fuel Cell Stack Annual Revenue by Country/Region (2020-2025)
4.3 Americas Liquid Cooled Fuel Cell Stack Sales Growth
4.4 APAC Liquid Cooled Fuel Cell Stack Sales Growth
4.5 Europe Liquid Cooled Fuel Cell Stack Sales Growth
4.6 Middle East & Africa Liquid Cooled Fuel Cell Stack Sales Growth
5 Americas
5.1 Americas Liquid Cooled Fuel Cell Stack Sales by Country
5.1.1 Americas Liquid Cooled Fuel Cell Stack Sales by Country (2020-2025)
5.1.2 Americas Liquid Cooled Fuel Cell Stack Revenue by Country (2020-2025)
5.2 Americas Liquid Cooled Fuel Cell Stack Sales by Type (2020-2025)
5.3 Americas Liquid Cooled Fuel Cell Stack Sales by Application (2020-2025)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Liquid Cooled Fuel Cell Stack Sales by Region
6.1.1 APAC Liquid Cooled Fuel Cell Stack Sales by Region (2020-2025)
6.1.2 APAC Liquid Cooled Fuel Cell Stack Revenue by Region (2020-2025)
6.2 APAC Liquid Cooled Fuel Cell Stack Sales by Type (2020-2025)
6.3 APAC Liquid Cooled Fuel Cell Stack Sales by Application (2020-2025)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Liquid Cooled Fuel Cell Stack by Country
7.1.1 Europe Liquid Cooled Fuel Cell Stack Sales by Country (2020-2025)
7.1.2 Europe Liquid Cooled Fuel Cell Stack Revenue by Country (2020-2025)
7.2 Europe Liquid Cooled Fuel Cell Stack Sales by Type (2020-2025)
7.3 Europe Liquid Cooled Fuel Cell Stack Sales by Application (2020-2025)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Liquid Cooled Fuel Cell Stack by Country
8.1.1 Middle East & Africa Liquid Cooled Fuel Cell Stack Sales by Country (2020-2025)
8.1.2 Middle East & Africa Liquid Cooled Fuel Cell Stack Revenue by Country (2020-2025)
8.2 Middle East & Africa Liquid Cooled Fuel Cell Stack Sales by Type (2020-2025)
8.3 Middle East & Africa Liquid Cooled Fuel Cell Stack Sales by Application (2020-2025)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Liquid Cooled Fuel Cell Stack
10.3 Manufacturing Process Analysis of Liquid Cooled Fuel Cell Stack
10.4 Industry Chain Structure of Liquid Cooled Fuel Cell Stack
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Liquid Cooled Fuel Cell Stack Distributors
11.3 Liquid Cooled Fuel Cell Stack Customer
12 World Forecast Review for Liquid Cooled Fuel Cell Stack by Geographic Region
12.1 Global Liquid Cooled Fuel Cell Stack Market Size Forecast by Region
12.1.1 Global Liquid Cooled Fuel Cell Stack Forecast by Region (2026-2031)
12.1.2 Global Liquid Cooled Fuel Cell Stack Annual Revenue Forecast by Region (2026-2031)
12.2 Americas Forecast by Country (2026-2031)
12.3 APAC Forecast by Region (2026-2031)
12.4 Europe Forecast by Country (2026-2031)
12.5 Middle East & Africa Forecast by Country (2026-2031)
12.6 Global Liquid Cooled Fuel Cell Stack Forecast by Type (2026-2031)
12.7 Global Liquid Cooled Fuel Cell Stack Forecast by Application (2026-2031)
13 Key Players Analysis
13.1 Ballard Power
13.1.1 Ballard Power Company Information
13.1.2 Ballard Power Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.1.3 Ballard Power Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.1.4 Ballard Power Main Business Overview
13.1.5 Ballard Power Latest Developments
13.2 Aerospace Hydrogen Energy (Shanghai)
13.2.1 Aerospace Hydrogen Energy (Shanghai) Company Information
13.2.2 Aerospace Hydrogen Energy (Shanghai) Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.2.3 Aerospace Hydrogen Energy (Shanghai) Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.2.4 Aerospace Hydrogen Energy (Shanghai) Main Business Overview
13.2.5 Aerospace Hydrogen Energy (Shanghai) Latest Developments
13.3 EKPO Fuel Cell Technologies
13.3.1 EKPO Fuel Cell Technologies Company Information
13.3.2 EKPO Fuel Cell Technologies Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.3.3 EKPO Fuel Cell Technologies Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.3.4 EKPO Fuel Cell Technologies Main Business Overview
13.3.5 EKPO Fuel Cell Technologies Latest Developments
13.4 Qinneng
13.4.1 Qinneng Company Information
13.4.2 Qinneng Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.4.3 Qinneng Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.4.4 Qinneng Main Business Overview
13.4.5 Qinneng Latest Developments
13.5 Beijing Nowogen
13.5.1 Beijing Nowogen Company Information
13.5.2 Beijing Nowogen Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.5.3 Beijing Nowogen Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.5.4 Beijing Nowogen Main Business Overview
13.5.5 Beijing Nowogen Latest Developments
13.6 Beijing Innoreagen
13.6.1 Beijing Innoreagen Company Information
13.6.2 Beijing Innoreagen Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.6.3 Beijing Innoreagen Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.6.4 Beijing Innoreagen Main Business Overview
13.6.5 Beijing Innoreagen Latest Developments
13.7 Guangdong Sino-Synergy Hydrogen Energy
13.7.1 Guangdong Sino-Synergy Hydrogen Energy Company Information
13.7.2 Guangdong Sino-Synergy Hydrogen Energy Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.7.3 Guangdong Sino-Synergy Hydrogen Energy Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.7.4 Guangdong Sino-Synergy Hydrogen Energy Main Business Overview
13.7.5 Guangdong Sino-Synergy Hydrogen Energy Latest Developments
13.8 Sunrise Power
13.8.1 Sunrise Power Company Information
13.8.2 Sunrise Power Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.8.3 Sunrise Power Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.8.4 Sunrise Power Main Business Overview
13.8.5 Sunrise Power Latest Developments
13.9 Shanghai Shenli
13.9.1 Shanghai Shenli Company Information
13.9.2 Shanghai Shenli Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.9.3 Shanghai Shenli Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.9.4 Shanghai Shenli Main Business Overview
13.9.5 Shanghai Shenli Latest Developments
13.10 Jiangsu GPTFC System
13.10.1 Jiangsu GPTFC System Company Information
13.10.2 Jiangsu GPTFC System Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.10.3 Jiangsu GPTFC System Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.10.4 Jiangsu GPTFC System Main Business Overview
13.10.5 Jiangsu GPTFC System Latest Developments
13.11 Zhejiang Fenergy
13.11.1 Zhejiang Fenergy Company Information
13.11.2 Zhejiang Fenergy Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.11.3 Zhejiang Fenergy Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.11.4 Zhejiang Fenergy Main Business Overview
13.11.5 Zhejiang Fenergy Latest Developments
13.12 Hydro2Power SRL
13.12.1 Hydro2Power SRL Company Information
13.12.2 Hydro2Power SRL Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.12.3 Hydro2Power SRL Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.12.4 Hydro2Power SRL Main Business Overview
13.12.5 Hydro2Power SRL Latest Developments
13.13 Arco FC
13.13.1 Arco FC Company Information
13.13.2 Arco FC Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.13.3 Arco FC Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.13.4 Arco FC Main Business Overview
13.13.5 Arco FC Latest Developments
13.14 TerraLIX
13.14.1 TerraLIX Company Information
13.14.2 TerraLIX Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.14.3 TerraLIX Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.14.4 TerraLIX Main Business Overview
13.14.5 TerraLIX Latest Developments
13.15 Hyzon Motors
13.15.1 Hyzon Motors Company Information
13.15.2 Hyzon Motors Liquid Cooled Fuel Cell Stack Product Portfolios and Specifications
13.15.3 Hyzon Motors Liquid Cooled Fuel Cell Stack Sales, Revenue, Price and Gross Margin (2020-2025)
13.15.4 Hyzon Motors Main Business Overview
13.15.5 Hyzon Motors Latest Developments
14 Research Findings and Conclusion
*If Applicable.