Global Automotive Fuel Cell Market Size, Trends & Growth Opportunity, By Electrolyte Type (PEMFC (Proton-Exchange Membrane Fuel Cell, and PAFC (Phosphoric Acid Fuel Cell)), By Power Output (Below 100 KW, 100-200KW, and Above 200 KW), By Vehicle Type (Passenger Car, Bus, Light Commercial Vehicle, and Truck), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Automotive Fuel Cell Market
Global Automotive Fuel Cell Market was valued at USD 1.75 billion in 2021 and is expected to reach USD 33.65 billion by 2027, at a CAGR 59.41% from 2022-2027.
Automotive fuel cell refers to a vehicle which is powered by hydrogen fuel for the propulsion of the automotive. Fuel is contained in high-pressure tank and fed into a fuel cell stack, where the oxygen and hydrogen found naturally in the air react with each other and generate electricity. They are available in various vehicles such as cars, trucks, and buses.
A fuel cell is also known to be an electrical device that is produced by a chemical reaction between a source fuel and an oxidant.
Market Drivers
Increasing vehicle production is the key driving factor which is expected to boost the global automotive fuel cell market growth. Furthermore, rising global environmental issues such as climate change and poor air quality due to high fossil fuel consumption will have a positive impact on market growth.
The fuel cell produces zero emission and contributes to eliminate the greenhouse gases thereby propelling the automotive fuel cell market growth during the forecast period. Moreover, the automotive fuel cell demand is growing significantly as compared to battery electric vehicles owing to high performance ability to refuel in reduced time and long range provided by the systems.
Market Restraints
However, automotive fuel cells are highly flammable in nature and hard to detect hydrogen leakages that are some challenging factors which is expected to obstruct the global automotive fuel cell market growth in the forecast period.
Market Segmentation
The Global Automotive Fuel Cell Market is segmented into electrolyte type such as PEMFC (Proton-Exchange Membrane Fuel Cell), and PAFC (Phosphoric Acid Fuel Cell), by power output such as Below 100 KW, 100-200KW, and Above 200 KW.
Further, the market is segmented into vehicle type such as Passenger Car, Bus, Light Commercial Vehicle, and Truck.
Regional Analysis
The Global Automotive Fuel Cell Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American region dominates the automotive fuel cell market due to the increase in the demand for automotive based on fuel cells. Furthermore, the growing of R&D and innovation coming to the industry will further boost the growth of the automotive fuel cell market in the region during the forecast period 2027.
The European region is projected to observe significant amount of growth in the automotive fuel cell market due to the occurrence of major key players in the region.
Market Key Players
Various key players are discussed in this report such as Delphi Technologies, Ballard Power Systems, Hydrogenics, ITM Power, Plug Power, Nuvera Fuel Cells, Ceres Power, Nedstack, and Doosan Corporation, Fuji Electric Co., and Others.
For instance, in June 2019, Ballard Power Systems had announced their 8th Generation high-performance fuel cell module, Evocity, for heavy-duty commercial vehicles such as trucks, buses, and trains.
Market Taxonomy
By Electrolyte Type
• PEMFC (Proton-Exchange Membrane Fuel Cell)
• PAFC (Phosphoric Acid Fuel Cell)
By Power Output
• Below 100 KW
• 100-200KW
• Above 200 KW
By Vehicle Type
• Passenger Car
• Bus
• Light Commercial Vehicle
• Truck
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Automotive Fuel Cell Market TOC:
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Automotive Fuel Cell Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Automotive Fuel Cell Market, By Electrolyte Type
5.1 Y-o-Y Growth Comparison, By Electrolyte Type
5.2 Global Automotive Fuel Cell Market Share Analysis, By Electrolyte Type
5.3 Global Automotive Fuel Cell Market Size and Forecast, By Electrolyte Type
5.3.1 PEMFC (Proton-Exchange Membrane Fuel Cell)
5.3.2 PAFC (Phosphoric Acid Fuel Cell)
6 Global Automotive Fuel Cell Market, By Power Output
6.1 Y-o-Y Growth Comparison, By Power Output
6.2 Global Automotive Fuel Cell Market Share Analysis, By Power Output
6.3 Global Automotive Fuel Cell Market Size and Forecast, By Power Output
6.3.1 Below 100 KW
6.3.2 100-200 KW
6.3.3 Above 200 KW
7 Global Automotive Fuel Cell Market, Vehicle Type
7.1 Y-o-Y Growth Comparison, Vehicle Type
7.2 Global Automotive Fuel Cell Market Share Analysis, Vehicle Type
7.3 Global Automotive Fuel Cell Market Size and Forecast, Vehicle Type
7.3.1 Passenger Car
7.3.2 Bus
7.3.3 Light Commercial Vehicle
7.3.4 Truck
8 Global Automotive Fuel Cell Market, By Region
8.1 Global Automotive Fuel Cell Market Share Analysis, By Region
8.2 Global Automotive Fuel Cell Market Share Analysis, By Region
8.3 Global Automotive Fuel Cell Market Size and Forecast, By Region
9 North America Automotive Fuel Cell Market Analysis and Forecast (2022 – 2027)
9.1 Introduction
9.2 North America Automotive Fuel Cell Market Share Analysis, By Electrolyte Type
9.3 North America Automotive Fuel Cell Market Size and Forecast, By Power Output
9.4 North America Automotive Fuel Cell Market Size and Forecast, Vehicle Type
9.5 North America Automotive Fuel Cell Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Automotive Fuel Cell Market Analysis and Forecast (2022 – 2027)
10.1 Introduction
10.2 Europe Automotive Fuel Cell Market Share Analysis, By Electrolyte Type
10.3 Europe Automotive Fuel Cell Market Size and Forecast, By Power Output
10.4 Europe Automotive Fuel Cell Market Size and Forecast, Vehicle Type
10.5 Europe Automotive Fuel Cell Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Automotive Fuel Cell Market Analysis and Forecast (2022 – 2027)
11.1 Introduction
11.2 Asia Pacific Automotive Fuel Cell Market Share Analysis, By Electrolyte Type
11.3 Asia Pacific Automotive Fuel Cell Market Size and Forecast, By Power Output
11.4 Asia Pacific Automotive Fuel Cell Market Size and Forecast, Vehicle Type
11.5 Asia Pacific Automotive Fuel Cell Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Rest of Asia Pacific
12 Latin America Automotive Fuel Cell Market Analysis and Forecast (2022 – 2027)
12.1 Introduction
12.2 Latin America Automotive Fuel Cell Market Share Analysis, By Electrolyte Type
12.3 Latin America Automotive Fuel Cell Market Size and Forecast, By Power Output
12.4 Latin America Automotive Fuel Cell Market Size and Forecast, Vehicle Type
12.5 Latin America Automotive Fuel Cell Market Size and Forecast, Country
12.5.1 Brazil
12.5.2 Rest of Latin America
13 Middle East Automotive Fuel Cell Market Analysis and Forecast (2022 – 2027)
13.1 Introduction
13.2 Middle East Automotive Fuel Cell Market Share Analysis, By Electrolyte Type
13.3 Middle East Automotive Fuel Cell Market Size and Forecast, By Power Output
13.4 Middle East Automotive Fuel Cell Market Size and Forecast, Vehicle Type
13.5 Middle East Automotive Fuel Cell Market Size and Forecast, By Country
13.5.1 Saudi Arabia
13.5.2 UAE
13.5.3 Egypt
13.5.4 Kuwait
13.5.5 South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Delphi Technologies
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Ballard Power Systems
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Hydrogenics
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 ITM Power
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Plug Power
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Nuvera Fuel Cells
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Ceres Power
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Nedstack
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Doosan Corporation
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Fuji Electric Co.
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
