Automotive Fuel Cell Market

Automotive Fuel Cell Market by Electrolyte Types (Polymer Electronic Membrane Fuel Cell, Direct Methanol Fuel Cell, Alkaline Fuel Cell, and Phosphoric Acid Fuel Cell), Vehicle Types (Passenger Cars and Commercial Vehicles), Fuel Types (Hydrogen and Methanol), Power Outputs (below 100 KW, 100 to 200 KW, and above 200 KW), and Regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: AL-863
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 142
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The global automotive fuel cell market size is anticipated to expand at a substantial CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing demand for unconventional sources of energy. Moreover, rising demand for fuel efficiency and development of zero emission vehicles are driving the market growth.

A fuel cell is an electrical device created by a chemical reaction between a source fuel and an oxidant. Fuel cell acts as a battery-operated counterpart. They are powerful and emission-free.

Fuel cell vehicles (FCV) use fuel cells to power the vehicle's electric motor. Many FCVs use a fuel cell combined with a battery and super capacitor to efficiently start-up, power, and utilize the best energy source for constant and peak power. In FCVs, the fuel cell uses oxygen from the air and compressed hydrogen.

These vehicles use hydrogen gas to power an electric motor. In contrary to conventional vehicles that run on gasoline or diesel, fuel cell cars and trucks combine hydrogen and oxygen to produce electricity, which runs the electric motor.

Global Automotive Fuel Cell Market Summary

Market Trends, Drivers, Restraints, and Opportunities:

  • Increasing government initiatives to increase the hydrogen infrastructure is one of the major drivers that is contributing to the growth of the global automotive fuel cell market.
  • Rising demand for fuel source that products less to zero greenhouse gases & air pollutant emissions is expected to augment the market growth.
  • Lack of hydrogen infrastructure facilities in emerging economies can restraint the growth of the market.
  • High cost of the vehicles makes them less affordable, which in turn, can hinder the market growth
  • The outbreak of COVID-19 has negatively impacted the automotive fuel cell market owing to supply chain disruptions. However, the market is anticipated to recover soon.
  • Growing demand for FCVs from automotive & transportation sectors can create lucrative opportunities during the forecast period.

Scope of the Report

The report on the global automotive fuel cell market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Automotive Fuel Cell Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Electrolyte Types (Polymer Electronic Membrane Fuel Cell, Direct Methanol Fuel Cell, Alkaline Fuel Cell, and Phosphoric Acid Fuel Cell), Vehicle Types (Passenger Cars and Commercial Vehicles), and Fuel Types (Hydrogen and Methanol), Power Outputs (Below 100 KW, 100 to 200 KW, and Above 200 KW)

Regional scope

North America, Latin America, Europe, Asia Pacific and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Ballard Power Systems Inc., Doosan Fuel Cell Co. Ltd, Hydrogenics, and Nedstack Fuel Cell Technology BV.

 

Automotive Fuel Cell Market Segment Insights:

Polymer electronic membrane fuel cell segment to grow at a rapid pace
Based on electrolyte types, the market is divided into polymer electronic membrane fuel cell, direct methanol fuel cell, alkaline fuel cell, and phosphoric acid fuel cell, other. The polymer electronic membrane fuel cell segment is anticipated to account for a major market share and is anticipated to grow at a rapid rate during the forecast period. High power density and sound dynamic characteristics of this fuel cell type as compared to types of fuel cells is driving the segment growth.

Global Automotive Fuel Cell Market By Electrolyte Type

Commercial vehicles segment to account a significant market share
Based on vehicle types, the market is divided into passenger cars and commercial vehicles. The commercial vehicles segment is anticipated to account for a major share due to the growing environmental concerns Moreover, governments and environmental agencies are enacting stringent emission norms and laws, which are expected to increase the manufacturing cost of fuel-efficient diesel engines in the coming years. As a result, the new commercial vehicle diesel engines are expected to adopt fuels at a healthy pace during the forecast period

Hydrogen segment to exhibit a robust CAGR
Based on fuel types, the market is divided into hydrogen and methanol. The hydrogen segment is projected to grow at a robust rate due during the forecast period. Hydrogen gas clearly carries less energy per volume than methane, which is expected to result in the growth of hydrogen segment in the automotive fuel cell market.

Global Automotive Fuel Cell Market By Fuel Type

100 to 200 KW segment to account a remarkable market share
On the basis of power outputs, the market is divided into below 100 KW, 100 to 200 KW, and above 200 KW. The 100 to 200 KW segment is expected to expand at substantial CAGR during the forecast period. Fuel cell power output depends majorly on the fuel used and if it is hydrogen then it majorly ranges between 50 KW to 250 KW. On the other hand, the above 200kW segment is expected to exhibit a high CAGR in the projected timeline.

Europe to account a considerable market share
On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is anticipated to account for a considerable market share owing to presence of major automotive companies active in the region. This, in turn, is increasing investment on R&D activities, which includes new fuel cell technologies. Moreover, rising technological advancements in the development of integrated systems that combine key components of FCVs, including hydrogen gas injectors and air valves.

Global Automotive Fuel Cell Market By Region

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Automotive Fuel Cell Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Automotive Fuel Cell Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Automotive Fuel Cell Market - Supply Chain
  4.5. Global Automotive Fuel Cell Market Forecast
     4.5.1. Automotive Fuel Cell Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Automotive Fuel Cell Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Automotive Fuel Cell Market Absolute $ Opportunity
5. Global Automotive Fuel Cell Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Automotive Fuel Cell Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Automotive Fuel Cell Demand Share Forecast, 2019-2026
6. North America Automotive Fuel Cell Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Automotive Fuel Cell Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Automotive Fuel Cell Demand Share Forecast, 2019-2026
7. Latin America Automotive Fuel Cell Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Automotive Fuel Cell Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Automotive Fuel Cell Demand Share Forecast, 2019-2026
8. Europe Automotive Fuel Cell Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Automotive Fuel Cell Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Automotive Fuel Cell Demand Share Forecast, 2019-2026
9. Asia Pacific Automotive Fuel Cell Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Automotive Fuel Cell Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Automotive Fuel Cell Demand Share Forecast, 2019-2026
10. Middle East & Africa Automotive Fuel Cell Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Automotive Fuel Cell Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Automotive Fuel Cell Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Automotive Fuel Cell Market: Market Share Analysis
  11.2. Automotive Fuel Cell Distributors and Customers
  11.3. Automotive Fuel Cell Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Ballard Power Systems Inc.
     11.4.2. Doosan Fuel Cell Co. Ltd
     11.4.3. Hydrogenics
     11.4.4. Nedstack Fuel Cell Technology BV
Segments Covered in the Report
The global automotive fuel cell market has been segmented on the basis of

Electrolyte Types
  • Polymer Electronic Membrane Fuel Cell
  • Direct Methanol Fuel Cell
  • Alkaline Fuel Cell
  • Phosphoric Acid Fuel Cell
Vehicle Types
  • Passenger Cars
  • Commercial Vehicles
Fuel Types
  • Hydrogen
  • Methanol
Power Output
  • below 100 KW
  • 100 to 200 KW
  • Above 200 KW
Key Players
  • Ballard Power Systems Inc.
  • Doosan Fuel Cell Co. Ltd
  • Hydrogenics
  • Nedstack Fuel Cell Technology BV

The major players of the market are Ballard Power Systems Inc., Doosan Fuel Cell Co. Ltd, Hydrogenics, and Nedstack Fuel Cell Technology BV. Companies are focusing on innovation, partnerships, and acquisitions to expand their market share.

Global Automotive Fuel Cell Market By Key Players

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