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Automotive Fuel Cell Market

Automotive Fuel Cell Market Forecasts to 2028 – Global Analysis By Vehicle Type, Component, Operating Mile, Power Capacity, Electrolyte Type, Specialised Vehicle Type, Fuel Type and By Geography

4.3 (32 reviews)
Published: July 2021 ID: SMRC20673
4.3 (32 reviews)
Published: July 2021 ID: SMRC20673

This report covers the impact of COVID-19 on this global market
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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.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 1.12 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

51.5%

Predicted 2028 Value:

USD 31.18billion

Forecast Years:

2021-2028

Tables, Graphs& Figures

277

Chapters Covered:

Vehicle Type, Component, Operating Mile, Power Capacity, Electrolyte Type, Specialised Vehicle Type, Fuel Type and Region

Core Drivers and Opportunities:

  • Rising demand for fuel cell vehicles in automotive and transportation
  • Lower emissions than other vehicles
  • Development of home and community hydrogen fueling systems

Restraining Factors & Market Threats:

  • Hard to detect hydrogen leakages
  • Highly flammable


 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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Automotive Fuel Cell Market is majorly driven by fast refueling, better fuel efficiency and increased driving range and reduced oil dependency.

The passenger vehicle segment is growing at the highest CAGR due to the high adoption rate and increasing demand for personal mobility.

The Asia Pacific dominated with a significant market share owing to the green environment initiatives and investment in hydrogen energy.

The North America market is growing at the highest CAGR due to increased research and development in fuel cell technology.

Key players in 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.

1 Executive Summary          
           
2 Preface   
       
 2.1 Abstract          
 2.2 Stake Holders         
 2.3 Research Scope         
 2.4 Research Methodology         
  2.4.1 Data Mining        
  2.4.2 Data Analysis        
  2.4.3 Data Validation        
  2.4.4 Research Approach        
 2.5 Research Sources          
  2.5.1 Primary Research Sources        
  2.5.2 Secondary Research Sources        
  2.5.3 Assumptions        
           
3 Market Trend Analysis          
 3.1 Introduction         
 3.2 Drivers         
 3.3 Restraints         
 3.4 Opportunities         
 3.5 Threats         
 3.6 Emerging Markets         
 3.7 Impact of Covid-19         
           
4 Porters Five Force Analysis          
 4.1 Bargaining power of suppliers         
 4.2 Bargaining power of buyers         
 4.3 Threat of substitutes         
 4.4 Threat of new entrants         
 4.5 Competitive rivalry         
           
5 Global Automotive Fuel Cell Market, By Vehicle Type       
   
 5.1 Introduction         
 5.2 Passenger Vehicle         
  5.2.1 Hatchback        
  5.2.2 Sedan        
  5.2.3 Utility Vehicles        
 5.3 Commercial Vehicle         
  5.3.1 Medium & Heavy Commercial Vehicle (HCV)        
  5.3.2 Light Commercial Vehicles (LCVs)        
 5.4 Multi-Purpose Vehicle         
 5.5 Sport Utility Vehicles (SUVs) & Crossovers         
 5.6 Buses and Coaches         
 5.7 Two Wheelers         
 5.8 Heavy & Special Duty Truck         
 5.9 Electrical Vehicles         
 5.10 Agricultural Vehicles         
 5.11 Forklift, Port Vehicle, & Internal Container Handling Vehicle         
           
6 Global Automotive Fuel Cell Market, By Component      
    
 6.1 Introduction         
 6.2 Air Compressor         
 6.3 Fuel Cell Stack         
 6.4 Fuel Processor         
 6.5 Humidifier         
 6.6 Power Conditioner         
           
7 Global Automotive Fuel Cell Market, By Operating Miles          
 7.1 Introduction         
 7.2 0-250 Miles         
 7.3 251-500 Miles         
 7.4 Above 500 Miles         
           
8 Global Automotive Fuel Cell Market, By Power Capacity          
 8.1 Introduction         
 8.2 <150 kW         
 8.3 150-250 kW         
 8.4 >250 kW         
           
9 Global Automotive Fuel Cell Market, By Electrolyte Type          
 9.1 Introduction         
 9.2 Alkaline Fuel Cell (AFC)         
 9.3 Direct Methanol Fuel Cell (DMFC)         
 9.4 Molten Carbonate Fuel Cell (MCFC)         
 9.5 Phosphoric Acid Fuel Cell (PAFC)         
 9.6 Proton Exchange Membrane Fuel Cell (PEMFC)          
 9.7 Solid Oxide Fuel Cell (SOFC)         
 9.8 Polymer Electronic Membrane Fuel Cell         
           
10 Global Automotive Fuel Cell Market, By Specialised Vehicle Type          
 10.1 Introduction         
 10.2 Material Handling Vehicles         
 10.3 Auxiliary Power Unit for Refrigerated Truck         
           
11 Global Automotive Fuel Cell Market, By Fuel Type          
 11.1 Introduction         
 11.2 Methanol         
 11.3 Hydrogen         
           
12 Global Automotive Fuel Cell Market, By Geography          
 12.1 Introduction         
 12.2 North America         
  12.2.1 US        
  12.2.2 Canada        
  12.2.3 Mexico        
 12.3 Europe         
  12.3.1 Germany        
  12.3.2 UK        
  12.3.3 Italy        
  12.3.4 France        
  12.3.5 Spain        
  12.3.6 Rest of Europe        
 12.4 Asia Pacific         
  12.4.1 Japan        
  12.4.2 China        
  12.4.3 India        
  12.4.4 Australia        
  12.4.5 New Zealand        
  12.4.6 South Korea        
  12.4.7 Rest of Asia Pacific        
 12.5 South America         
  12.5.1 Argentina        
  12.5.2 Brazil        
  12.5.3 Chile        
  12.5.4 Rest of South America        
 12.6 Middle East & Africa         
  12.6.1 Saudi Arabia        
  12.6.2 UAE        
  12.6.3 Qatar        
  12.6.4 South Africa        
  12.6.5 Rest of Middle East & Africa        
           
13 Key Developments          
 13.1 Agreements, Partnerships, Collaborations and Joint Ventures         
 13.2 Acquisitions & Mergers         
 13.3 New Product Launch         
 13.4 Expansions         
 13.5 Other Key Strategies         
           
14 Company Profiling          
 14.1 Panasonic         
 14.2 Toshiba         
 14.3 Toyota Motor Corporation         
 14.4 AFCC         
 14.5 American Honda Motor Company Inc.         
 14.6 Ballard Power Systems         
 14.7 BorgWarner Inc.         
 14.8 Continental Industries         
 14.9 Cummins         
 14.10 Daimler AG         
 14.11 Delphi Technology         
 14.12 Hydrogenics         
 14.13 Hyster Yale         
 14.14 Hyundai Motor Company         
 14.15 ITM Power         
 14.16 Nedstack Fuel Cell Technology         
 14.17 Nissan Motor Corporation          
 14.18 Plug Power         
 14.19 Proton Motor Fuel Cell GmbH         


List of Tables           
1 Global Automotive Fuel Cell Market Outlook, By Region (2019-2028) ($MN)          
2 Global Automotive Fuel Cell Market Outlook, By Vehicle Type (2019-2028) ($MN)          
3 Global Automotive Fuel Cell Market Outlook, By Passenger Vehicle (2019-2028) ($MN)          
4 Global Automotive Fuel Cell Market Outlook, By Hatchback (2019-2028) ($MN)          
5 Global Automotive Fuel Cell Market Outlook, By Sedan (2019-2028) ($MN)          
6 Global Automotive Fuel Cell Market Outlook, By Utility Vehicles (2019-2028) ($MN)          
7 Global Automotive Fuel Cell Market Outlook, By Commercial Vehicle (2019-2028) ($MN)          
8 Global Automotive Fuel Cell Market Outlook, By Medium & Heavy Commercial Vehicle (HCV) (2019-2028) ($MN)          
9 Global Automotive Fuel Cell Market Outlook, By Light Commercial Vehicles (LCVs) (2019-2028) ($MN)          
10 Global Automotive Fuel Cell Market Outlook, By Multi-Purpose Vehicle (2019-2028) ($MN)          
11 Global Automotive Fuel Cell Market Outlook, By Sport Utility Vehicles (SUVs) & Crossovers (2019-2028) ($MN)          
12 Global Automotive Fuel Cell Market Outlook, By Buses and Coaches (2019-2028) ($MN)          
13 Global Automotive Fuel Cell Market Outlook, By Two Wheelers (2019-2028) ($MN)          
14 Global Automotive Fuel Cell Market Outlook, By Heavy & Special Duty Truck (2019-2028) ($MN)          
15 Global Automotive Fuel Cell Market Outlook, By Electrical Vehicles (2019-2028) ($MN)          
16 Global Automotive Fuel Cell Market Outlook, By Agricultural Vehicles (2019-2028) ($MN)          
17 Global Automotive Fuel Cell Market Outlook, By Forklift, Port Vehicle, & Internal Container Handling Vehicle (2019-2028) ($MN)          
18 Global Automotive Fuel Cell Market Outlook, By Component (2019-2028) ($MN)          
19 Global Automotive Fuel Cell Market Outlook, By Air Compressor (2019-2028) ($MN)          
20 Global Automotive Fuel Cell Market Outlook, By Fuel Cell Stack (2019-2028) ($MN)          
21 Global Automotive Fuel Cell Market Outlook, By Fuel Processor (2019-2028) ($MN)          
22 Global Automotive Fuel Cell Market Outlook, By Humidifier (2019-2028) ($MN)          
23 Global Automotive Fuel Cell Market Outlook, By Power Conditioner (2019-2028) ($MN)          
24 Global Automotive Fuel Cell Market Outlook, By Operating Miles (2019-2028) ($MN)          
25 Global Automotive Fuel Cell Market Outlook, By 0-250 Miles (2019-2028) ($MN)          
26 Global Automotive Fuel Cell Market Outlook, By 251-500 Miles (2019-2028) ($MN)          
27 Global Automotive Fuel Cell Market Outlook, By Above 500 Miles (2019-2028) ($MN)          
28 Global Automotive Fuel Cell Market Outlook, By Power Capacity (2019-2028) ($MN)          
29 Global Automotive Fuel Cell Market Outlook, By <150 kW (2019-2028) ($MN)          
30 Global Automotive Fuel Cell Market Outlook, By 150-250 kW (2019-2028) ($MN)          
31 Global Automotive Fuel Cell Market Outlook, By >250 kW (2019-2028) ($MN)          
32 Global Automotive Fuel Cell Market Outlook, By Electrolyte Type (2019-2028) ($MN)          
33 Global Automotive Fuel Cell Market Outlook, By Alkaline Fuel Cell (AFC) (2019-2028) ($MN)           
34 Global Automotive Fuel Cell Market Outlook, By Direct Methanol Fuel Cell (DMFC) (2019-2028) ($MN)          
35 Global Automotive Fuel Cell Market Outlook, By Molten Carbonate Fuel Cell (MCFC) (2019-2028) ($MN)          
36 Global Automotive Fuel Cell Market Outlook, By Phosphoric Acid Fuel Cell (PAFC) (2019-2028) ($MN)          
37 Global Automotive Fuel Cell Market Outlook, By Proton Exchange Membrane Fuel Cell (PEMFC) (2019-2028) ($MN)          
38 Global Automotive Fuel Cell Market Outlook, By Solid Oxide Fuel Cell (SOFC) (2019-2028) ($MN)          
39 Global Automotive Fuel Cell Market Outlook, By Polymer Electronic Membrane Fuel Cell (2019-2028) ($MN)          
40 Global Automotive Fuel Cell Market Outlook, By Specialised Vehicle Type (2019-2028) ($MN)          
41 Global Automotive Fuel Cell Market Outlook, By Material Handling Vehicles (2019-2028) ($MN)          
42 Global Automotive Fuel Cell Market Outlook, By Auxiliary Power Unit for Refrigerated Truck (2019-2028) ($MN)          
43 Global Automotive Fuel Cell Market Outlook, By Fuel Type (2019-2028) ($MN)          
44 Global Automotive Fuel Cell Market Outlook, By Methanol (2019-2028) ($MN)          
45 Global Automotive Fuel Cell Market Outlook, By Hydrogen (2019-2028) ($MN)           
           
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.           

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