
Global Automotive Fuel Cell Market Analysis & Trends - Industry Forecast to 2030
Description
Global Automotive Fuel Cell Market Analysis & Trends - Industry Forecast to 2030
Automotive Fuel Cell: Market Size
From $2.68 billion in 2024, the global Automotive Fuel Cell market is projected to reach $28.75 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 48.5% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include focus on improving hydrogen infrastructures, development of home and community hydrogen fueling systems, and innovations in the development of medium and heavy-duty vehicles.
Global Automotive Fuel Cell Market: Market Dynamics
Automotive fuel cell vehicles have gained fame in recent years as a consequence of their enhanced performance, shorter refueling time, and longer range. Except for these benefits and abridged emissions, the technology results in superior power and higher torque. Furthermore, a fuel cell vehicle has a driving range of 300 to 380 miles. Moreover, recent catalyst developments are key for the future of fuel cell technology, as they will improve durability through innovative catalyst layer designs. The increasing demand for environment-friendly automotive, rising need to integrate alternative fuel vehicles to keep a check on global greenhouse gases (GHG) emissions, and enhanced fuel efficiency are fueling the growth of the market across the globe. The huge government targets supported by encouraging policies are one of the key factors contributing to the growth of the market.
For instance, in July 2020, the Railway Industry Association in the UK asked the national administration to augment investments to support battery and green hydrogen-powered trains as a part of the post-COVID economy recovery. The organization has put forward interests and proposals to boost the deployment of low-carbon trains and propel the green economic revival.
On the other hand, the inferior efficiency than BEVs and HEVs is likely to obstruct the profit boundaries. In addition, the growth of home and community hydrogen fueling systems will further boost for the automotive fuel cell market.
Impact of COVID-19 on Automotive Fuel Cell
The outbreak of the Covid-19 pandemic has not impacted the market as badly as it had impacted the other automotive segments. Regardless of the unique crisis created by the outbreak of this global health problem, the hydrogen sector is anticipated to be moderately influenced by the pandemic situation. One of the major short-term difficulties is the significant shortage of financial liquidity among small players owing to the economic slowdown. This deficiency may result in a decline in revenues and working professionals, along with the absence of small-scale technology providers for a short period. Moreover, the COVID-19 pandemic may affect the achievability of governments’ emission targets due to cash deficits among customers, while environmental and climate challenges continue to be the key threat to the planet in the long term. The spread of this disease has certainly helped to bring a green wave across the world, with substantial declines in harmful emissions from various human development actions. Furthermore, the constant deployment of FCEVs will enable governments to positively utilize this adverse situation and carry forward this low-carbon technology utilization movement to combat the harmful climate problems. Consequently, the demand for fuel cell technology is likely to take a positive upturn following this coronavirus pandemic.
By Vehicle Type
Passenger Vehicles Segment Dominate the Market
The passenger vehicle segment is anticipated to hold a dominant position in the market during the forecast period, due to the colossal emission targets introduced by different governments, the high adoption rate, and the growing demand for personal mobility. Plans by governments to convert ICE taxi fleets into zero-emission are expected to provide significant growth opportunities in the coming years. Passenger cars are motor vehicles primarily used to transport passengers and have up to 9 seating capacities, including the driver.
By Geography
North America Region is Leading in the Global Market Place
The North America region is likely to have huge demand during the forecast period, owing to the growing R&D investments by various players, along with a considerable allotment of centralized R&D budgets for fuel cell technologies. The US has a huge number of hydrogen fuel stations catering to the market. Both US and Canada have been encouraging the demand for low secretion vehicles. Fuel cell vehicles are in high demand in some states like California in the US and BC in Canada. They have encouraged the growth of FCEVs by their emission regulations and laws which support the development of zero-emission vehicles. US and Canada have some of the world’s top fuel cell manufacturers like Ballard, Plug Power, BorgWarner, etc. which has increased demand for FCEV in the country.
List of the Key Players Profiled in the Market Include:
• Toyota Motor Company
• Nissan Motor Corporation
• Toshiba
• Delphi Technologies
• Continental Industries
• Ballard Power Systems
• Hyundai Motor Company
• Danish Power Systems
• Shanghai Re-Fire Technology Co., Ltd
• Bosch
• Núvera Fuel Cells, LLC
• American Honda Motor Company, Inc.
• Daimler AG
• ITM Power
• Hexagon Composites ASA
• Horizon Fuel Cell Technologies
List of the Regions/Countries Profiled in the Market Include:
North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others
Table of Contents
200 Pages
- 1 Market Outline
- 1.1 Definition
- 1.2 Market Segmentation & Scope
- 1.3 Market Trends
- 1.4 Regulatory Factors
- 1.5 Application Analysis
- 1.6 End User Analysis
- 1.7 Strategic Benchmarking
- 1.8 Opportunity Analysis
- 2 Executive Summary
- 3 Research Methodology and Data Source
- 3.1 Methodology/Research Approach
- 3.1.1 Research Programs/Design
- 3.1.2 Market Size Estimation
- 3.2 Data Source and Assumptions
- 3.2.1 Purchased Database
- 3.2.2 Company Repository
- 3.2.3 Secondary Sources
- 3.2.4 Primary Research
- 3.2.5 List of Assumptions
- 4 Market Overview
- 4.1 Current Trends
- 4.1.1 Adoption of Advanced Infrared and Sound Detection Technologies
- 4.1.2 Development of Cost-Effective Gunshot Detection Systems
- 4.1.3 Growing Concern Over Individual Self-Defense
- 4.1.4 Growth Opportunities/Investment Opportunities
- 4.2 Drivers
- 4.3 Constraints
- 4.4 Impact of COVID-19
- 5 Market Factor Analysis
- 5.1 Porters Five Forces
- 5.1.1 Bargaining power of suppliers
- 5.1.2 Bargaining power of buyers
- 5.1.3 Threat of substitutes
- 5.1.4 Threat of new entrants
- 5.1.5 Competitive rivalry
- 5.2 Value Chain Analysis/Supply Chain Analysis
- 6 Consumer behaviour analysis/Consumer Research
- 6.1 Consumer trends and preferences
- 6.2 Factors affecting buying decision
- 6.3 Consumer product adoption
- 6.4 Observation & Recommendations
- 7 Gunshot Detection Systems Market, By Solution
- 7.1 Subscription as a Service (SaaS)
- DATA TABLE Subscription as a Service (SaaS) Market Forecast to 2030 (US$ MN)
- 7.2 System
- DATA TABLE System Market Forecast to 2030 (US$ MN)
- 8 Gunshot Detection Systems Market, By System Type
- 8.1 Outdoor
- DATA TABLE Outdoor Market Forecast to 2030 (US$ MN)
- 8.2 Indoor
- DATA TABLE Indoor Market Forecast to 2030 (US$ MN)
- 9 Gunshot Detection Systems Market, By Installation
- 9.1 Vehicle Mounted (Aerial)
- DATA TABLE Vehicle Mounted (Aerial) Market Forecast to 2030 (US$ MN)
- 9.2 Soldier Mounted/ Portable/ Wearable Installation
- DATA TABLE Soldier Mounted/ Portable/ Wearable Installation Market Forecast to 2030 (US$ MN)
- 9.3 Fixed/Ground Installations
- DATA TABLE Fixed/Ground Installations Market Forecast to 2030 (US$ MN)
- 10 Gunshot Detection Systems Market, By Sales Channel
- 10.1 Direct Sales
- DATA TABLE Direct Sales Market Forecast to 2030 (US$ MN)
- 10.2 Distributor
- DATA TABLE Distributor Market Forecast to 2030 (US$ MN)
- 11 Gunshot Detection Systems Market, By Component
- 11.1 Processing Unit
- DATA TABLE Processing Unit Market Forecast to 2030 (US$ MN)
- 11.2 Sensors
- DATA TABLE Sensors Market Forecast to 2030 (US$ MN)
- 11.2.1 Optical
- DATA TABLE Optical Market Forecast to 2030 (US$ MN)
- 11.2.2 Acoustic
- DATA TABLE Acoustic Market Forecast to 2030 (US$ MN)
- 11.2.3 Infrared
- DATA TABLE Infrared Market Forecast to 2030 (US$ MN)
- 11.3 Other Components
- DATA TABLE Other Components Market Forecast to 2030 (US$ MN)
- 11.3.1 Microphones
- DATA TABLE Microphones Market Forecast to 2030 (US$ MN)
- 11.3.2 User-Interface
- DATA TABLE User-Interface Market Forecast to 2030 (US$ MN)
- 12 Gunshot Detection Systems Market, By Type
- 12.1 Unmanned Aerial Vehicle (UAV) Based
- DATA TABLE Unmanned Aerial Vehicle (UAV) Based Market Forecast to 2030 (US$ MN)
- 12.2 Ground Based
- DATA TABLE Ground Based Market Forecast to 2030 (US$ MN)
- 13 Gunshot Detection Systems Market, By Application
- 13.1 Small Arms Fire (SAF)
- DATA TABLE Small Arms Fire (SAF) Market Forecast to 2030 (US$ MN)
- 13.2 Rockets, Artillery and Mortars (RAM)
- DATA TABLE Rockets, Artillery and Mortars (RAM) Market Forecast to 2030 (US$ MN)
- 14 Gunshot Detection Systems Market, By End User
- 14.1 Homeland Security/Law Enforcement/Critical Infrastructure
- DATA TABLE Market Forecast to 2030 (US$ MN)
- 14.2 Commercial
- DATA TABLE Commercial Market Forecast to 2030 (US$ MN)
- 14.2.1 Education
- DATA TABLE Education Market Forecast to 2030 (US$ MN)
- 14.2.2 Public Safety
- DATA TABLE Public Safety Market Forecast to 2030 (US$ MN)
- 14.3 Defense
- DATA TABLE Defense Market Forecast to 2030 (US$ MN)
- 14.3.1 Air Force
- DATA TABLE Air Force Market Forecast to 2030 (US$ MN)
- 14.3.2 Helicopter
- DATA TABLE Helicopter Market Forecast to 2030 (US$ MN)
- 14.3.3 Military
- DATA TABLE Military Market Forecast to 2030 (US$ MN)
- 15 Gunshot Detection Systems Market, By Geography
- 15.1 North America
- DATA TABLE North America Market Forecast by Countries to 2030 (US$ MN)
- 15.1.1 US
- 15.1.2 Canada
- 15.1.3 Mexico
- 15.2 Europe
- DATA TABLE Europe Market Forecast by Countries to 2030 (US$ MN)
- 15.2.1 Germany
- 15.2.2 U.K
- 15.2.3 Italy
- 15.2.4 France
- 15.2.5 Spain
- 15.2.6 Rest of Europe
- 15.3 Asia Pacific
- DATA TABLE Asia Pacific Market Forecast by Countries to 2030 (US$ MN)
- 15.3.1 China
- 15.3.2 Japan
- 15.3.3 India
- 15.3.4 Australia
- 15.3.5 New Zealand
- 15.3.6 Rest of Asia Pacific
- 15.4 Middle East
- DATA TABLE Middle East Market Forecast by Countries to 2030 (US$ MN)
- 15.4.1 Saudi Arabia
- 15.4.2 UAE
- 15.4.3 Rest of Middle East
- 15.5 Latin America
- DATA TABLE Latin America Market Forecast by Countries to 2030 (US$ MN)
- 15.5.1 Argentina
- 15.5.2 Brazil
- 15.5.3 Rest of Latin America
- 15.6 Rest of the World (RoW)
- DATA TABLE Rest of the World (RoW) Market Forecast by Countries to 2030 (US$ MN)
- 15.6.1 South Africa
- 15.6.2 Others
- 16 Key Player Activities
- 16.1 Acquisitions & Mergers
- 16.2 Agreements, Partnerships, Collaborations and Joint Ventures
- 16.3 Product Launch & Expansions
- 16.4 Other Activities
- 17 Leading Companies
- 17.1 Tracer Technology Systems Inc.
- 17.2 Raytheon Technologies Corporation
- 17.3 Databuoy Corporation
- 17.4 Thales Group
- 17.5 Rheinmetall AG
- 17.6 ACOEM Group
- 17.7 Elbit Systems Ltd
- 17.8 Israel Aerospace Industries Ltd
- 17.9 Shooter Detection Systems, LLC.
- 17.10 ShotSpotter Inc.
- 17.11 QinetiQ Group
- 17.12 Louroe Electronics
- 17.13 Safety Dynamics, Inc.
- 17.14 Microflown AVISA
- List of Tables
- Table 1 Global Gunshot Detection Systems Market By Region, Market Forecast (2022-2030) (US $MN)
- Table 2 Global Gunshot Detection Systems Market By Solution (2022-2030) (US $MN)
- Table 3 Global Gunshot Detection Systems Market By Subscription as a Service (SaaS) (2022-2030) (US $MN)
- Table 4 Global Gunshot Detection Systems Market By System (2022-2030) (US $MN)
- Table 5 Global Gunshot Detection Systems Market By System Type (2022-2030) (US $MN)
- Table 6 Global Gunshot Detection Systems Market By Outdoor (2022-2030) (US $MN)
- Table 7 Global Gunshot Detection Systems Market By Indoor (2022-2030) (US $MN)
- Table 8 Global Gunshot Detection Systems Market By Installation (2022-2030) (US $MN)
- Table 9 Global Gunshot Detection Systems Market By Vehicle Mounted (Aerial) (2022-2030) (US $MN)
- Table 10 Global Gunshot Detection Systems Market By Soldier Mounted/ Portable/ Wearable Installation (2022-2030) (US $MN)
- Table 11 Global Gunshot Detection Systems Market By Fixed/Ground Installations (2022-2030) (US $MN)
- Table 12 Global Gunshot Detection Systems Market By Sales Channel (2022-2030) (US $MN)
- Table 13 Global Gunshot Detection Systems Market By Direct Sales (2022-2030) (US $MN)
- Table 14 Global Gunshot Detection Systems Market By Distributor (2022-2030) (US $MN)
- Table 15 Global Gunshot Detection Systems Market By Component (2022-2030) (US $MN)
- Table 16 Global Gunshot Detection Systems Market By Processing Unit (2022-2030) (US $MN)
- Table 17 Global Gunshot Detection Systems Market By Sensors (2022-2030) (US $MN)
- Table 18 Global Gunshot Detection Systems Market By Optical (2022-2030) (US $MN)
- Table 19 Global Gunshot Detection Systems Market By Acoustic (2022-2030) (US $MN)
- Table 20 Global Gunshot Detection Systems Market By Infrared (2022-2030) (US $MN)
- Table 21 Global Gunshot Detection Systems Market By Other Components (2022-2030) (US $MN)
- Table 22 Global Gunshot Detection Systems Market By Microphones (2022-2030) (US $MN)
- Table 23 Global Gunshot Detection Systems Market By User-Interface (2022-2030) (US $MN)
- Table 24 Global Gunshot Detection Systems Market By Type (2022-2030) (US $MN)
- Table 25 Global Gunshot Detection Systems Market By Unmanned Aerial Vehicle (UAV) Based (2022-2030) (US $MN)
- Table 26 Global Gunshot Detection Systems Market By Ground Based (2022-2030) (US $MN)
- Table 27 Global Gunshot Detection Systems Market By Application (2022-2030) (US $MN)
- Table 28 Global Gunshot Detection Systems Market By Small Arms Fire (SAF) (2022-2030) (US $MN)
- Table 29 Global Gunshot Detection Systems Market By Rockets, Artillery and Mortars (RAM) (2022-2030) (US $MN)
- Table 30 Global Gunshot Detection Systems Market By End User (2022-2030) (US $MN)
- Table 31 Global Gunshot Detection Systems Market By Homeland Security/Law Enforcement/Critical Infrastructure (2022-2030) (US $MN)
- Table 32 Global Gunshot Detection Systems Market By Commercial (2022-2030) (US $MN)
- Table 33 Global Gunshot Detection Systems Market By Education (2022-2030) (US $MN)
- Table 34 Global Gunshot Detection Systems Market By Public Safety (2022-2030) (US $MN)
- Table 35 Global Gunshot Detection Systems Market By Defense (2022-2030) (US $MN)
- Table 36 Global Gunshot Detection Systems Market By Air Force (2022-2030) (US $MN)
- Table 37 Global Gunshot Detection Systems Market By Helicopter (2022-2030) (US $MN)
- Table 38 Global Gunshot Detection Systems Market By Military (2022-2030) (US $MN)
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