Alkaline Fuel Cell Market experiencing steady growth driven by 2037
The Alkaline Fuel Cell (AFC) Market was valued at USD 581 million in 2024 and is expected to reach USD 1.87 billion by 2037, growing at a CAGR of 9.2% during the forecast period (2025–2037). The growth is driven by increasing demand for clean energy technologies, favorable government policies supporting hydrogen infrastructure, and AFCs’ ability to offer high electrical efficiency with low environmental impact. As global economies pivot toward net-zero emissions, alkaline fuel cells are gaining renewed attention for stationary and portable applications.