In recent years, a rise in the number of fuel cell vehicles and buses in China, Japan and Korea has broadened the growth prospects of the market in these countries. Apart from this, the depletion of fossil fuels has encouraged the governments of various nations to implement numerous policies and initiatives and promote the use of sustainable energy alternatives.

The global fuel cell market has witnessed robust growth over the past few years. This can be attributed to the introduction of several government initiatives to promote the use of clean energy coupled with the growing research and development in the field of fuel cell technology.