Automotive Fuel Cell Market is projected to grow at a considerable CAGR during the forecast period from 2021 to 2027. Fuel cell vehicles are emission less except heat radiations. Due to its emission-free nature, fuel cell technology is adopted in various kind of vehicles ranging from passenger cars to airplanes. The growing awareness towards air and noise pollution has significantly increased the demand for fuel cell electric vehicles. Additionally, governmental efforts to encourage the usage of emission-less vehicles have further fueled the market for fuel cell vehicles. Automotive fuel cell technology is an attractive proposition for automakers to help manufacture high-energy cells that can power cars. Fuel cells use hydrogen or methane as their primary energy supplier. These two elements are a cleaner fuel source, unlike traditional lithium-ion battery cells that cannot be recycled. Lithium-ion battery cells have a significant environmental impact by creating disposal issues.
However, higher installation costs of hydrogen fueling infrastructures such as fuel station have posed a threat in the growth of this market during the forecast period. In addition, the automotive fuel cell is highly flammable and are difficult to detect the hydrogen leakages from the storage tanks. This can act as a limitation to the growth of the market. The Automotive Fuel Cell Market is dominated by established players such as Ballard Power Systems (Canada), Toyota Motor Corporation (Japan), Hyundai Group (South Korea), Hyster Yale (US), and Cummins (US). These players adopt a variety of strategies including the merger, procurement, products and services to expand and stay competitive in the market.
(Get 15% Discount on Buying this Report)
A full report of Global Automotive Fuel Cell Market is available at: https://www.orionmarketreports.com/automotive-fuel-cell-market/59122/
The following Segmentation are covered in this report:
By Component
- Fuel Cell Stack
- Fuel Processor
- Power Conditioner
- Air Compressor
- Humidifier
By Vehicle Type
- Passenger Car
- LCV
- Bus
- Truck
By Power Capacity
- <150 kW
- 150-250 kW
- >250 kW
By Region
North America:
- US
- Canada
Europe:
- France
- Italy
- Germany
- UK
- Rest of Europe
Asia Pacific:
- India
- China
- Japan
- Australia
- Rest of APAC
The report covers the following objectives:
- Proliferation and maturation of trade in the global Automotive Fuel Cell Market.
- The market share of the global Automotive Fuel Cell Market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Automotive Fuel Cell Market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Automotive Fuel Cell Market.
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
