Automotive Fuel Cell - Global Market Outlook (2020 -2028)
According to Stratistics MRC, the Global Automotive Fuel Cell Market is accounted for $1.12 billion in 2020 and is expected to reach $31.18 billion by 2028 growing at a CAGR of 51.5% during the forecast period. While the factors like fast refuelling and reduced oil dependency are propelling the market growth. However, highly flammable is hampering the market growth.
A fuel cell vehicle is a type of electric vehicle that uses a fuel cell, instead of a battery, or in combination with a battery or supercapacitor, to power in its onboard electric motor. A fuel cell is also the source of electricity to power the motor. Fuel cells generally use oxygen from the air and compressed hydrogen for their operation.
Based on the vehicle type, the passenger vehicle segment is estimated to have a lucrative growth during the forecast period. The high implementation and growing demand for personal mobility are expected to drive the fuel cell passenger vehicle segment. Plans by governments to convert ICE taxi fleets into zero-emission are expected to provide significant growth opportunities in the future.
By geography, Asia Pacific is going to have a huge demand owing to the empowering FCEV deployment goals of governments, combined with rising investments in hydrogen fueling infrastructure. Furthermore, high fuel stack built-up capacities in the region, due to the existence of different large-scale FC passenger car manufacturers, will also add to the regional landscape.
Some of the key players profiled in the Automotive Fuel Cell Market include Panasonic, Toshiba, Toyota Motor Corporation, AFCC, American Honda Motor Company Inc., Ballard Power Systems, BorgWarner Inc., Continental Industries, Cummins, Daimler AG, Delphi Technology, Hydrogenics, Hyster Yale, Hyundai Motor Company, ITM Power, Nedstack Fuel Cell Technology, Nissan Motor Corporation, Plug Power, and Proton Motor Fuel Cell GmbH.
Vehicle Types Covered:
• Passenger Vehicle
• Commercial Vehicle
• Multi-Purpose Vehicle
• Sport Utility Vehicles (SUVs) & Crossovers
• Buses and Coaches
• Two Wheelers
• Heavy & Special Duty Truck
• Electrical Vehicles
• Agricultural Vehicles
• Forklift, Port Vehicle, & Internal Container Handling Vehicle
Components Covered:
• Air Compressor
• Fuel Cell Stack
• Fuel Processor
• Humidifier
• Power Conditioner
Operating Miles Covered:
• 0-250 Miles
• 251-500 Miles
• Above 500 Miles
Power Capacities Covered:
• <150 kW
• 150-250 kW
• >250 kW
Electrolyte Types Covered:
• Alkaline Fuel Cell (AFC)
• Direct Methanol Fuel Cell (DMFC)
• Molten Carbonate Fuel Cell (MCFC)
• Phosphoric Acid Fuel Cell (PAFC)
• Proton Exchange Membrane Fuel Cell (PEMFC)
• Solid Oxide Fuel Cell (SOFC)
• Polymer Electronic Membrane Fuel Cell
Specialised Vehicle Types Covered:
• Material Handling Vehicles
• Auxiliary Power Unit for Refrigerated Truck
Fuel Types Covered:
• Methanol
• Hydrogen
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
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