Automotive Fuel Cell Market Trend Analysis 2022, Top Manufacturers, Technology, industry Size, Demands, Growth and Global Forecast 2030

Automotive Fuel Cell Market Overview

The global Automotive fuel cell market share is expected to be valued at USD 15 Billion with a CAGR of 17% Forecast by 2027. Moreover, a significant value has been generated in the market size during the research period.

The worldwide Automotive fuel cell market growth is driven due to the increased driving range and better fuel economy. Moreover, the increasing demand for fuel cell vehicles in the transportation and automotive industry might bring significant opportunities for the manufacturers and key players.

Drivers

• Increases the demand for the fuel cell as a greener alternative to the traditional cells
• The need for greener alternative for automobile fuel can impel

However, the high initial investments in hydrogen fuelling infrastructure might affect the Automotive fuel cell industry in the forecast period. Apart from this, the global market might experience challenges due to the high vehicle cost.

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Regional Analysis

Regionally, the worldwide Automotive fuel cell marketis classified based on different regions such as Asia Pacific, North America, Europe, and the rest of the world.

Among all regions, the Asia Pacific regional market is projected to generate significant market growth during the research timeframe. This region is growing due to the continuous support of the government from different countries like Japan, China, and Hong Kong towards the use of renewable energies. Also, favourable policies are introduced in the region to reduce the effects of global warming, which is fuelling the regional market growth.

Market Segmentation

The global Automotive fuel cell market is segmentally divided into different segments such as fuel type, components, electrolyte type,

Depending on the fuel type segment, the current market has been segmented into methanol, hydrogen and others. The methanol fuel cells are easily available, involve lesser costs, generate low power, and are easy to transport. The hydrogen-powered cells are basically small in size and able to produce high power. In terms of the electrolyte type segment, the global market has been segmented into PAFC (Phosphoric Acid Fuel Cell) and PEMFC (Proton-exchange membrane fuel cell). Among these, the PEMFC electrolyte is widely preferred across the world because it helps in reducing greenhouse gases and produces near-zero-emissions. Apart from these, this type of electrolyte has many advantages that include being easy to install,lightweight,having a high-power density,highly portable,highly efficient, and used in varying operating temperatures.

Based on the component segment, the global Automotive fuel cell market has been classified into fuel stack, fuel processor, and power conditioner. Out of all, the power conditioner is extensively preferred because it has the capacity to produce constant power. In contrast, the fuel processor needs constant routine maintenance and monitoring. In terms of the power output segment, the worldwide market has been divided into 200 KW. Among these, the 100-200 KW output gives the highest output at the best price. On the basis of vehicle type segment, the global market has been segregated into heavy commercial vehicles (HCV), light commercial vehicles (LCV), and passenger vehicles (PV).

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Industry News

In February 2022, the implementation of the “Renewable Energy Research and Technology Development” program was announced by the Ministry of New and Renewable Energy of India. This has aimed to support research in different aspects of renewable energy, such as fuel cell development and inter-alia hydrogen-based transportation.

List Of Tables

Table 1 Global Automotive Fuel Cell Market: By Region, 2020-2027

Table 2 North America Automotive Fuel Cell Market: By Country, 2020-2027

Table 3 Europe Automotive Fuel Cell Market: By Country, 2020-2027

Table 4 Asia Pacific Automotive Fuel Cell Market: By Country, 2020-2027

Table 5 RoW Automotive Fuel Cell Market: By Country, 2020-2027

Table 6 Global Automotive Fuel Cell Market, By Electrolyte Type, By Regions, 2020-2027

Table 7 North America Automotive Fuel Cell Market, By Electrolyte Type, By Country, 2020-2027

Table 8 Europe Automotive Fuel Cell Market, By Electrolyte Type, By Country, 2020-2027

Table 9 Asia Pacific Automotive Fuel Cell Market By Electrolyte Type, By Country, 2020-2027

Table 10 RoW Automotive Fuel Cell Market By Electrolyte Type, By Country, 2020-2027

Table 11 Automotive Fuel Cell By Power Output Market: By Regions, 2020-2027

Table 12 North America Automotive Fuel Cell Market By Components: By Country, 2020-2027

Table 13 Europe Automotive Fuel Cell Market By Components: By Country, 2020-2027

…Continued.

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