Fuel cells are having their moment again for various vehicle applications, from light-duty to big rigs.

How big a moment?

Seems not trivial according to a report by MarketsandMarkets, which products the automotive fuel cell market will grow from $200 million this year to $2.1 billion by 2030. It will have a compound annual growth rate of 48%.

Where will the largest market be?

Asia Oceana.

Given that the geographies covered in the firm’s report also includes Europe, North America and Rest of the World, presumably that Asia Oceana includes China, which could explain the biggest market.

That said, with companies including Toyota, Honda and Hyundai continuing their hydrogen fuel cell development efforts, Japan and South Korea can’t be counted out as players, and consumers, in this field.

However. . .the global battery electric vehicle market size right now is on the order of $500 billion and it is estimated to be about $1.5 trillion by 2030, so even with the impressive growth of fuel cells, they’re still approximately the size of a dandelion in a redwood forest.