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
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.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 1.12 billion |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
51.5% |
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Predicted 2028 Value: |
USD 31.18billion |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
277 |
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Chapters Covered: |
Vehicle Type, Component, Operating Mile, Power Capacity, Electrolyte Type, Specialised Vehicle Type, Fuel Type and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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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.
Table of Contents
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.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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