Global demand for the Automotive Fuel Cell market was valued over 3.1 Thousand Units in 2019 and is expected to reach a CAGR of 69% between 2019 and 2025.
This report analyzes and estimates the Automotive Fuel Cell market at global, regional, and country level. The research study provides historic data from 2015 to 2019 along with forecast from 2020 to 2025 based on volume (Thousand Units). The report offers detailed insights of the Automotive Fuel Cell market drivers and restraints along with their impact analysis at global level from 2015 to 2025.
The report covers in-depth analysis of the strategies adopted by major competitors in the global Automotive Fuel Cell market. To understand the competitive landscape in the global Automotive Fuel Cell market, an analysis of Porter’s Five Forces model is also included. The research study comprises of market attractiveness analysis, wherein all the segments are benchmarked on the basis of their market size and growth rate.
The research study provides a decisive view on the global Automotive Fuel Cell market based on Component, Power Output, H2 Fuel Station, Vehicle Type, Specialized Vehicle, and Region. All the segments of the market have been analyzed based on the past, present, and future trends. The market is estimated from 2019 to 2025.
The increasing demand for vehicles among the growing population along with the soaring requirement for fuel cell-based automotive for public transportation is the primary reason predicted to augment the market growth. Also, the advancements being made in the fuel cell technologies are projected to expand the Automotive Fuel Cell market. Apart from this, the surging demand for private mobility and high per capita income in the developing markets will further support market growth. Additionally, the plan of many countries to transform taxi fleets to fuel cell-based automotive is estimated to bolster the global Automotive Fuel Cell market growth.
The increasing demand for highly efficient fuels, fast refueling, and long-range driving properties are expected to bolster the growth of the market. Additionally, the increasing government initiatives and investment for the production of fuel cell technology as well as the escalating use of fuel cells in the transportation sector will supplement the expansion of the global Automotive Fuel Cell market. However, the factors hampering the growth of the automotive fuel cell market include high flammability and trouble in leakage detection of hydrogen. The increasing requirement for BEVs and HEVs, unsatisfactory hydrogen infrastructure, and soaring vehicle costs are other defies for the growth of the Automotive Fuel Cell market.
On the basis of component, the global Automotive Fuel Cell market is sectored into Fuel Processor, Fuel Stack, Power Conditioner, Air Compressor, and Humidifier. Based on power output, the market for the automotive fuel cell is segregated into <150kW, 150 – 250kW, and >250kW. In terms of H2 fuel station, the market is categorized into Asia, Europe, and North America. By vehicle type, the Automotive Fuel Cell Market is classified into Passenger Car, Light Commercial Vehicle, Truck, and Bus. On the basis of specialized vehicle, the market is divided into Material Handling Vehicle and Auxiliary Power Unit for Refrigerated Truck. The regional segmentation comprises the past, present, and estimated demand for the Middle East & Africa, North America, Asia Pacific, Latin America, and Europe. The regional segment is further split into the U.S., Canada, Mexico, UK, France, Germany, China, Japan, India, South Korea, Brazil, and Argentina among others.
Some major players of the Automotive Fuel Cell market include ITM Power, Hydrogenic, Plug Power, Ballard Power Systems, Delphi Technologies, Doosan Corporation, and Proton Power System PLC, among others.
The report on global Automotive Fuel Cell market is segmented into:
Global Automotive Fuel Cell Market: By Component Segmentation Analysis
Global Automotive Fuel Cell Market: By Power Output Segmentation Analysis
Global Automotive Fuel Cell Market: By H2 Fuel Station Segmentation Analysis
Global Automotive Fuel Cell Market: By Specialized Vehicle Segmentation Analysis
Global Automotive Fuel Cell Market: By Vehicle Type Segmentation Analysis
Global Automotive Fuel Cell Market: By Regional Segmentation Analysis