Table of Content

1 INTRODUCTION (Page No. - 31)
  1.1 OBJECTIVES OF THE STUDY
  1.2 MARKET DEFINITION
     1.2.1 FUEL CELL POWERTRAIN MARKET DEFINITION, BY COMPONENT
     1.2.2 MARKET DEFINITION, BY DRIVE TYPE
     1.2.3 MARKET DEFINITION, BY VEHICLE TYPE
  1.3 INCLUSIONS & EXCLUSIONS
     TABLE 1 INCLUSIONS & EXCLUSIONS
  1.4 MARKET SCOPE
     FIGURE 1 MARKET SEGMENTATION
     1.4.1 YEARS CONSIDERED
  1.5 PACKAGE SIZE
  1.6 CURRENCY
  1.7 STAKEHOLDERS
  1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 37)
  2.1 RESEARCH DATA
     FIGURE 2 FUEL CELL POWERTRAIN MARKET: RESEARCH DESIGN
     FIGURE 3 RESEARCH DESIGN MODEL
     2.1.1 SECONDARY DATA
        2.1.1.1 Key secondary sources
        2.1.1.2 Key data from secondary sources
     2.1.2 PRIMARY DATA
        2.1.2.1 Key data from primary sources
        2.1.2.2 Participants in primary research
        2.1.2.3 Key industry insights
        2.1.2.4 Breakdown of primary interviews
     2.1.3 PRIMARY PARTICIPANTS
  2.2 MARKET SIZE ESTIMATION
     FIGURE 4 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
     2.2.1 BOTTOM-UP APPROACH
        FIGURE 5 FUEL CELL POWERTRAIN MARKET: RESEARCH DESIGN & METHODOLOGY
        FIGURE 6 MARKET: ILLUSTRATION OF SUPPLY- SIDE REVENUE ESTIMATION
  2.3 FACTOR ANALYSIS
     2.3.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
  2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
     FIGURE 7 DATA TRIANGULATION
  2.5 ASSUMPTIONS
  2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 48)
  FIGURE 8 FUEL CELL POWERTRAIN: MARKET OVERVIEW
  FIGURE 9 TIMELINE OF FUEL CELL SYSTEMS
  FIGURE 10 FUEL CELL POWERTRAIN MARKET, BY REGION, 2022–2027
  FIGURE 11 PASSENGER CARS PROJECTED TO DOMINATE DURING FORECAST PERIOD (2022–2027)

4 PREMIUM INSIGHTS (Page No. - 53)
  4.1 ATTRACTIVE OPPORTUNITIES IN MARKET
     FIGURE 12 TECHNOLOGICAL ADVANCEMENTS IN AUTOMOTIVE INDUSTRY EXPECTED TO BOOST MARKET
  4.2 MARKET, BY VEHICLE TYPE
     FIGURE 13 PASSENGER CARS PROJECTED TO LEAD FUEL CELL POWERTRAIN MARKET (USD MILLION)
  4.3 MARKET, BY COMPONENT
     FIGURE 14 HYDROGEN STORAGE SYSTEM SEGMENT TO GROW FASTEST BY 2027 (USD MILLION)
  4.4 MARKET, BY POWER OUTPUT
     FIGURE 15 <150 KW POWER OUTPUT SEGMENT TO COMMAND LARGEST SHARE (UNITS)
  4.5 MARKET, BY H2 FUEL STATION
     FIGURE 16 ASIA OCEANIA PROJECTED TO BE LARGEST MARKET FOR H2 FUEL STATIONS (UNITS)
  4.6 MARKET, BY REGION
     FIGURE 17 MARKET IN EUROPE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD (USD MILLION)

5 MARKET OVERVIEW (Page No. - 56)
  5.1 INTRODUCTION
     FIGURE 18 HYDROGEN FUEL CELL ELECTRIC VEHICLE SYSTEM
  5.2 MARKET DYNAMICS
     FIGURE 19 FUEL CELL POWERTRAIN MARKET DYNAMICS
     5.2.1 DRIVERS
        5.2.1.1 Better fuel efficiency and increased driving range
        5.2.1.2 Operational data
           TABLE 2 US: FUEL CELL ELECTRIC VEHICLE MODEL COMPARISON
                FIGURE 20 BEV VS. FCEV: NATURAL GAS REQUIREMENT FOR 300-MILE TRAVEL
                TABLE 3 FCEV VS. BEV: 200- AND 300-MILE RANGE ATTRIBUTE COMPARISON
                TABLE 4 BEV CHARGING VS. FCEV HYDROGEN FUELING OF ZERO-EMISSION LIGHT-DUTY VEHICLES
        5.2.1.3 Decarbonized source of energy
        5.2.1.4 Fast refueling
     5.2.2 RESTRAINTS
        5.2.2.1 High flammability and challenges in detection of hydrogen leakage
           FIGURE 21 AUTO IGNITION TEMPERATURE OF DIFFERENT FUELS
           FIGURE 22 MINIMUM IGNITION ENERGY FOR VARIOUS FUELS
     5.2.3 OPPORTUNITIES
        5.2.3.1 Low-weight alternative for heavy-duty trucks
        5.2.3.2 Government initiatives for hydrogen infrastructure
           FIGURE 23 INITIAL INVESTMENT FOR FUEL INFRASTRUCTURE
           FIGURE 24 BEV AND FCEV COMPARISON
           TABLE 5 POLICIES & INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES & HYDROGEN INFRASTRUCTURE
           TABLE 6 POLICY ANNOUNCEMENT FOR ICE VEHICLE BAN, BY COUNTRY
           TABLE 7 US DEPARTMENT OF ENERGY FUNDING, 2021
     5.2.4 CHALLENGES
        5.2.4.1 Increasing demand for BEVs and HEVs
     FIGURE 25 COST CONTRIBUTION OF FUEL CELL COMPONENTS: 1,000 UNITS/ YEAR VS. 500,000 UNITS/YEAR
        5.2.4.2 Limited infrastructure for fuel cell vehicles
     5.2.5 IMPACT OF MARKET DYNAMICS
        TABLE 8 FUEL CELL POWERTRAIN: IMPACT OF MARKET DYNAMICS
  5.3 TRENDS AND DISRUPTIONS: FUEL CELL POWERTRAIN MARKET
     FIGURE 26 TRENDS AND DISRUPTIONS: MARKET

6 INDUSTRY TRENDS (Page No. - 70)
  6.1 TECHNOLOGY OVERVIEW
     6.1.1 INTRODUCTION
        FIGURE 27 KEY COMPONENTS OF FUEL CELL ELECTRIC VEHICLES
     6.1.2 COMPONENTS OF FUEL CELL POWERTRAIN
        6.1.2.1 Integrated e-axle
           FIGURE 28 AVL INTEGRATED E-AXLE
        6.1.2.2 Center drive
        6.1.2.3 Wheel-selective drive
           FIGURE 29 FUEL CELL POWERTRAIN APPLICATIONS
     6.1.3 KEY TRENDS IN FUEL CELL TECHNOLOGY
        6.1.3.1 Use of fuel cell technology in heavy load transportation
           FIGURE 30 FUEL CELL MASS-MARKET ACCEPTABILITY IN TRANSPORTATION SECTOR, 2016–2050
        6.1.3.2 Plug-in hybrid fuel cell vehicles
     6.1.4 VALUE CHAIN ANALYSIS
        FIGURE 31 VALUE CHAIN ANALYSIS
        6.1.4.1 Fuel cell powertrain component suppliers
        6.1.4.2 Fuel cell powertrain development
        6.1.4.3 OEM
     6.1.5 FUEL CELL SUBCLUSTER AND H2 SUBCLUSTER
  6.2 PORTER'S FIVE FORCES ANALYSIS
     FIGURE 32 PORTER'S FIVE FORCES ANALYSIS: FUEL CELL POWERTRAIN MARKET
     TABLE 9 MARKET: IMPACT OF PORTER'S FIVE FORCES
  6.3 ECOSYSTEM ANALYSIS
     FIGURE 33 MARKET: ECOSYSTEM ANALYSIS
     6.3.1 HYDROGEN FUEL SUPPLIERS
     6.3.2 TIER I SUPPLIERS (FUEL CELL AND RELATED COMPONENT PRODUCERS)
     6.3.3 OEMS
     6.3.4 END USERS
        TABLE 10 FUEL CELL POWERTRAIN MARKET: ROLE OF COMPANIES IN ECOSYSTEM
  6.4 AVERAGE SELLING PRICE ANALYSIS
     FIGURE 34 DECREASE IN COST OF FUEL CELL
     FIGURE 35 FUEL CELL SYSTEM COST, 2006–2025
     FIGURE 36 MARKET: AVERAGE SELLING PRICE ANALYSIS OF COMPONENTS (USD)
  6.5 KEY MARKETS FOR EXPORT/IMPORT
     6.5.1 EUROPE
        TABLE 11 EUROPE: TOTAL IMPORT/EXPORT OF VEHICLES (UNITS)
     6.5.2 JAPAN
        TABLE 12 JAPAN: TOTAL IMPORT/EXPORT OF VEHICLES (UNITS)
     6.5.3 CHINA
        TABLE 13 CHINA: TOTAL IMPORT/EXPORT OF VEHICLES (UNITS)
     6.5.4 US
        TABLE 14 US: TOTAL IMPORT/EXPORT OF VEHICLES (UNITS)
  6.6 PATENT ANALYSIS
     6.6.1 PATENT OVERVIEW
     6.6.2 PATENT APPLICATION TRENDS
        FIGURE 37 PATENT APPLICATION TRENDS (2015–2021)
     6.6.3 PATENTS BY OEMS, 2010–2020
        FIGURE 38 COUNTRY-WISE PATENT ANALYSIS
        FIGURE 39 TOP PATENT APPLICANTS, 2010–2020
  6.7 CASE STUDY ANALYSIS
     6.7.1 PLANS TO PILOT HYDROGEN FUEL CELL ELECTRIC POWERTRAIN IN BMW X5 IN 2022
     6.7.2 HYUNDAI MOTOR AND H2 ENERGY PARTNER TO OFFER 1,000 HEAVY-DUTY FUEL CELL ELECTRIC TRUCKS
        TABLE 15 TRUCK SPECIFICATIONS
     6.7.3 NIKOLA AND BOSCH SHOWCASE HYDROGEN-ELECTRIC POWERED TRUCK
     6.7.4 BALLARD POWER SYSTEM ANNOUNCES FCMOVE-HD+ FOR BUSES AND MEDIUM- AND HEAVY-DUTY TRUCKS
  6.8 REGULATORY OVERVIEW
     6.8.1 COUNTRY-WISE HYDROGEN FUEL CELL POWERTRAIN STANDARDS

7 FUEL CELL POWERTRAIN MARKET, BY COMPONENT (Page No. - 89)
  7.1 INTRODUCTION
     FIGURE 40 MARKET, BY COMPONENT, 2022 VS. 2027 (USD MILLION)
     TABLE 16 MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
     TABLE 17 MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
  7.2 OPERATIONAL DATA
     7.2.1 ASSUMPTIONS
     7.2.2 RESEARCH METHODOLOGY
  7.3 FUEL CELL SYSTEM
     7.3.1 NEED FOR SAFETY APPLICATIONS DRIVES SEGMENT
        TABLE 18 FUEL CELL SYSTEM: FUEL CELL POWERTRAIN MARKET, BY REGION, 2018–2021 (USD MILLION)
        TABLE 19 FUEL CELL SYSTEM: MARKET, BY REGION, 2022–2027 (USD MILLION)
  7.4 BATTERY SYSTEM
     7.4.1 INCREASED LIFE CYCLE AND SMOOTH OPERATION
        TABLE 20 BATTERY SYSTEM: MARKET, BY REGION, 2018–2021 (USD MILLION)
        TABLE 21 BATTERY SYSTEM: MARKET, BY REGION, 2022–2027 (USD MILLION)
  7.5 DRIVE SYSTEM
     7.5.1 DC/DC CONVERTER
     7.5.2 MOTOR
     7.5.3 POWER CONTROL UNIT
     7.5.4 COOLING SYSTEM
     7.5.5 INVERTER
     7.5.6 ENHANCED PERFORMANCE RENDERED BY DRIVE SYSTEMS
        TABLE 22 DRIVE SYSTEM: FUEL CELL POWERTRAIN MARKET, BY REGION, 2018–2021 (USD MILLION)
        TABLE 23 DRIVE SYSTEM: MARKET, BY REGION, 2022–2027 (USD MILLION)
  7.6 HYDROGEN STORAGE SYSTEM
     7.6.1 ADVANCEMENTS FOR SAFER MATERIALS WILL BOOST SEGMENT
        TABLE 24 HYDROGEN STORAGE SYSTEM: MARKET, BY REGION, 2018–2021 (USD MILLION)
        TABLE 25 HYDROGEN STORAGE SYSTEM: MARKET, BY REGION, 2022–2027 (USD MILLION)
  7.7 OTHERS
     7.7.1 INITIATIVES BY KEY PLAYERS TO IMPROVE PERFORMANCE
        TABLE 26 OTHER COMPONENTS: MARKET, BY REGION, 2018–2021 (USD MILLION)
        TABLE 27 OTHER COMPONENTS: FUEL CELL POWERTRAIN MARKET, BY REGION, 2022–2027 (USD MILLION)
  7.8 KEY INDUSTRY INSIGHTS

8 FUEL CELL POWERTRAIN MARKET, BY DRIVE TYPE (Page No. - 99)
  8.1 INTRODUCTION
     8.1.1 OPERATIONAL DATA
        TABLE 28 TOP OEM FUEL CELL MODELS AND DRIVE TYPES
     8.1.2 ASSUMPTIONS
  8.2 FRONT-WHEEL DRIVE (FWD) POWERTRAIN
  8.3 REAR-WHEEL DRIVE (RWD) POWERTRAIN
  8.4 ALL-WHEEL DRIVE (AWD) POWERTRAIN
  8.5 KEY INDUSTRY INSIGHTS

9 FUEL CELL POWERTRAIN MARKET, BY POWER OUTPUT (Page No. - 101)
  9.1 INTRODUCTION
     FIGURE 41 MARKET, BY POWER OUTPUT, 2022 VS. 2027
     TABLE 29 MARKET, BY POWER OUTPUT, 2018–2021 (UNITS)
     TABLE 30 MARKET, BY POWER OUTPUT, 2022–2027 (UNITS)
     9.1.1 OPERATIONAL DATA
        TABLE 31 POWER OUTPUT OF FUEL CELL VEHICLE MODELS
     9.1.2 ASSUMPTIONS
     9.1.3 RESEARCH METHODOLOGY
  9.2 <150 KW
     9.2.1 GROWING DEMAND FOR FUEL CELL PASSENGER CARS
        TABLE 32 <150 KW: FUEL CELL POWERTRAIN MARKET, BY REGION, 2018–2021 (UNITS)
        TABLE 33 <150 KW: MARKET, BY REGION, 2022–2027 (UNITS)
  9.3 150--250 KW
     9.3.1 INCREASING USE OF HEAVY-DUTY TRUCKS AND BUSES
        TABLE 34 150–250 KW: MARKET, BY REGION, 2018–2021 (UNITS)
        TABLE 35 150–250 KW: MARKET, BY REGION, 2022–2027 (UNITS)
  9.4 >250 KW
     9.4.1 HIGH POWER DEMAND IN COMMERCIAL VEHICLES
        TABLE 36 >250 KW: MARKET, BY REGION, 2022–2027 (UNITS)
  9.5 KEY INDUSTRY INSIGHTS

10 FUEL CELL POWERTRAIN MARKET, BY VEHICLE TYPE (Page No. - 108)
   10.1 INTRODUCTION
     FIGURE 42 MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)
     TABLE 37 MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
     TABLE 38 MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     10.1.1 OPERATIONAL DATA
          TABLE 39 TOP OEM FUEL CELL MODELS AND VEHICLE TYPES
     10.1.2 ASSUMPTIONS
     10.1.3 RESEARCH METHODOLOGY
   10.2 PASSENGER CARS
     10.2.1 INCREASING ENVIRONMENTAL CONCERNS WILL DRIVE SEGMENT
          TABLE 40 PASSENGER CARS: FUEL CELL POWERTRAIN MARKET, BY REGION, 2018–2021 (USD MILLION)
          TABLE 41 PASSENGER CARS: MARKET, BY REGION, 2022–2027 (USD MILLION)
   10.3 LCV
     10.3.1 MAXIMUM USE OF LCV FOR GOODS TRANSFER
          TABLE 42 LCV: MARKET, BY REGION, 2018–2021 (USD THOUSAND)
          TABLE 43 LCV: MARKET, BY REGION, 2022–2027 (USD MILLION)
   10.4 TRUCKS
     TABLE 44 OVERVIEW OF WEIGHT CLASSES
     TABLE 45 MASS DIFFERENCE BETWEEN BASELINE VEHICLE AND FUEL CELL TRUCK VERSION
     TABLE 46 DEMONSTRATION PROJECTS/DEPLOYMENT OF FUEL CELL TRUCKS
     TABLE 47 POWERTRAIN BENCHMARKING FOR TRUCKS >12 TONS
     10.4.1 HEAVY LOAD TRANSPORT OF GOODS AND MATERIALS WILL BOOST DEMAND
          TABLE 48 TRUCKS: FUEL CELL POWERTRAIN MARKET, BY REGION, 2018–2021 (USD MILLION)
          TABLE 49 TRUCKS: MARKET, BY REGION, 2022–2027 (USD MILLION)
   10.5 BUSES
     TABLE 50 EXAMPLES OF BUS DEPLOYMENT PROJECTS
     TABLE 51 POTENTIAL MARKET FOR NEW ZERO-EMISSION BUSES PER YEAR ACROSS EUROPE FROM 2022
     10.5.1 DEVELOPMENT OF FUEL CELL POWERTRAIN FOR PUBLIC TRANSPORT OPERATORS
          TABLE 52 BUSES: MARKET, BY REGION, 2018–2021 (USD MILLION)
          TABLE 53 BUSES: MARKET, BY REGION, 2022–2027 (USD MILLION)
   10.6 KEY INDUSTRY INSIGHTS

11 FUEL CELL POWERTRAIN MARKET, BY H2 FUEL STATION (Page No. - 120)
   11.1 INTRODUCTION
   11.2 RESEARCH METHODOLOGY
     TABLE 54 AUTOMOTIVE HYDROGEN FUEL STATIONS AS OF DECEMBER 2021
     TABLE 55 FUTURE PLANS FOR AUTOMOTIVE HYDROGEN FUEL STATIONS, 2019–2050 (UNITS)
     FIGURE 43 MARKET, BY H2 FUEL STATION, 2022 VS. 2027 (UNITS)
     11.2.1 RAPID DEVELOPMENTS IN FCEV AND EMISSION NORMS
          TABLE 56 H2 STATIONS: MARKET, BY REGION, 2018–2021 (UNITS)
          TABLE 57 H2 STATIONS: MARKET, BY REGION, 2022–2027 (UNITS)
   11.3 ASIA OCEANIA
     11.3.1 JAPAN AND SOUTH KOREA TO PLAY KEY ROLE IN ASIA OCEANIA
          TABLE 58 ASIA OCEANIA: H2 STATIONS FUEL CELL POWERTRAIN MARKET, BY COUNTRY, 2018–2021 (UNITS)
          TABLE 59 ASIA OCEANIA: H2 STATIONS FUEL CELL POWERTRAIN MARKET, BY COUNTRY, 2022–2027 (UNITS)
   11.4 EUROPE
     11.4.1 GOVERNMENT POLICIES AND FUNDING BOOST H2 STATIONS IN EUROPE
          TABLE 60 EUROPE: H2 STATIONS FUEL CELL POWERTRAIN MARKET, BY COUNTRY, 2018–2021 (UNITS)
          TABLE 61 EUROPE: H2 STATIONS FUEL CELL POWERTRAIN MARKET, BY COUNTRY, 2022–2027 (UNITS)
   11.5 NORTH AMERICA
     11.5.1 DEVELOPMENTS IN FUEL CELL TECHNOLOGY TO BE FOCUSED ON CALIFORNIA
          TABLE 62 NORTH AMERICA: H2 STATIONS FUEL CELL POWERTRAIN MARKET, BY COUNTRY, 2018–2021 (UNITS)
          TABLE 63 NORTH AMERICA: H2 STATIONS FUEL CELL POWERTRAIN MARKET, BY COUNTRY, 2022–2027 (UNITS)
   11.6 KEY INDUSTRY INSIGHTS

12 FUEL CELL POWERTRAIN MARKET, BY REGION (Page No. - 129)
   12.1 INTRODUCTION
     FIGURE 44 MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)
     TABLE 64 MARKET, BY REGION, 2018–2021 (USD MILLION)
     TABLE 65 MARKET, BY REGION, 2022–2027 (USD MILLION)
   12.2 ASIA OCEANIA
     FIGURE 45 ASIA OCEANIA: MARKET SNAPSHOT
     TABLE 66 ASIA OCEANIA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
     TABLE 67 ASIA OCEANIA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
     12.2.1 CHINA
          TABLE 68 CHINA: TARGETS, VISIONS, AND PROJECTIONS
          TABLE 69 CHINA: FUEL CELL POWERTRAIN PROJECTS
          TABLE 70 CHINA: FUEL CELL POWERTRAIN MARKET - POLICIES AND REGULATIONS
          12.2.1.1 Increased R&D in China will boost market growth
             TABLE 71 CHINA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
             TABLE 72 CHINA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     12.2.2 JAPAN
          TABLE 73 JAPAN: TARGETS, VISIONS, AND PROJECTIONS
          TABLE 74 JAPAN: FUEL CELL POWERTRAIN PROJECTS
          TABLE 75 JAPAN: MARKET - POLICIES AND REGULATIONS
          12.2.2.1 Government initiatives for fuel cell vehicle development
             TABLE 76 JAPAN: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
             TABLE 77 JAPAN: FUEL CELL POWERTRAIN MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     12.2.3 SOUTH KOREA
          TABLE 78 SOUTH KOREA: TARGETS, VISIONS, AND PROJECTIONS
          FIGURE 46 SOUTH KOREA: PLANNED GOVERNMENT FUNDING FOR AUTOMOTIVE FUEL CELL, 2018–2021 (USD MILLION)
          FIGURE 47 SOUTH KOREA: TARGET NUMBER OF FUEL CELL VEHICLES (2015–2040)
          TABLE 79 SOUTH KOREA: MARKET - POLICIES AND REGULATIONS
          12.2.3.1 Passenger cars segment estimated to be largest
             TABLE 80 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
             TABLE 81 SOUTH KOREA: FUEL CELL POWERTRAIN MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     12.2.4 AUSTRALIA
          12.2.4.1 Government investment in research and infrastructure
             TABLE 82 AUSTRALIA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
   12.3 EUROPE
     TABLE 83 EUROPE: RELEVANT EXPERIENCE/PRODUCTS OF OEMS
     TABLE 84 EUROPE: TARGETS, VISIONS, AND PROJECTIONS
     FIGURE 48 EUROPE: MARKET, 2022 VS. 2027 (USD MILLION)
     TABLE 85 EUROPEAN UNION (EU): FUEL CELL POWERTRAIN PROJECTS
     TABLE 86 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD THOUSAND)
     TABLE 87 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
     12.3.1 FRANCE
          TABLE 88 FRANCE: FUEL CELL POWERTRAIN PROJECTS
          TABLE 89 FRANCE: FUEL CELL POWERTRAIN MARKET - POLICIES AND REGULATIONS
          12.3.1.1 French market driven by government initiatives and funding
             TABLE 90 FRANCE: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 91 FRANCE: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.2 GERMANY
          TABLE 92 GERMANY: FUEL CELL POWERTRAIN PROJECTS
          TABLE 93 GERMANY: FUEL CELL POWERTRAIN MARKET - POLICIES AND REGULATIONS
          12.3.2.1 Fast-paced development of hydrogen infrastructure
             TABLE 94 GERMANY: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 95 GERMANY: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.3 ITALY
          TABLE 96 ITALY: FUEL CELL POWERTRAIN PROJECTS
          TABLE 97 ITALY: MARKET - POLICIES AND REGULATIONS
          12.3.3.1 Focus on electrification of vehicles
             TABLE 98 ITALY: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 99 ITALY: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.4 NETHERLANDS
          TABLE 100 NETHERLANDS: FUEL CELL POWERTRAIN PROJECTS
          TABLE 101 NETHERLANDS: FUEL CELL POWERTRAIN MARKET - POLICIES AND REGULATIONS
          12.3.4.1 Government investments boost Dutch fuel cell powertrain market
             TABLE 102 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 103 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.5 NORWAY
          TABLE 104 NORWAY: FUEL CELL POWERTRAIN PROJECTS
          TABLE 105 NORWAY: MARKET - POLICIES AND REGULATIONS
          12.3.5.1 Buses segment projected to grow fastest
             TABLE 106 NORWAY: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 107 NORWAY: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.6 SWEDEN
          TABLE 108 SWEDEN: FUEL CELL POWERTRAIN PROJECTS
          12.3.6.1 EU emission reduction goals will drive market
             TABLE 109 SWEDEN: FUEL CELL POWERTRAIN MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 110 SWEDEN: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.7 BELGIUM
          TABLE 111 BELGIUM: FUEL CELL POWERTRAIN PROJECTS
          TABLE 112 BELGIUM: MARKET - POLICIES AND REGULATIONS
          12.3.7.1 Reforms and government initiatives can boost market
             TABLE 113 BELGIUM: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 114 BELGIUM: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.8 DENMARK
          TABLE 115 DENMARK: FUEL CELL POWERTRAIN PROJECTS
          12.3.8.1 Denmark to be key market for adoption of fuel cell buses
             TABLE 116 DENMARK: FUEL CELL POWERTRAIN MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 117 DENMARK: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.9 SPAIN
          TABLE 118 SPAIN: FUEL CELL POWERTRAIN PROJECTS
          TABLE 119 SPAIN: MARKET - POLICIES AND REGULATIONS
          12.3.9.1 Government plans and investments propel Spanish market
             TABLE 120 SPAIN: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 121 SPAIN: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.10 SWITZERLAND
          TABLE 122 SWITZERLAND: FUEL CELL POWERTRAIN PROJECTS
          12.3.10.1 Trucks segment projected to hold significant market share
             TABLE 123 SWITZERLAND: FUEL CELL POWERTRAIN MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 124 SWITZERLAND: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3.11 UK
          TABLE 125 UK: FUEL CELL POWERTRAIN PROJECTS
          TABLE 126 UK: MARKET - POLICIES AND REGULATIONS
          12.3.11.1 Use of fuel cell double-deck buses likely to boost market
             TABLE 127 UK: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 128 UK: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
   12.4 NORTH AMERICA
     FIGURE 49 NORTH AMERICA: FUEL CELL POWERTRAIN MARKET SNAPSHOT
     TABLE 129 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
     TABLE 130 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
     12.4.1 CANADA
          TABLE 131 CANADA: FUEL CELL POWERTRAIN PROJECTS
          TABLE 132 CANADA: MARKET - POLICIES AND REGULATIONS
          12.4.1.1 Presence of leading fuel cell suppliers
             TABLE 133 CANADA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 134 CANADA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.4.2 MEXICO
          12.4.2.1 Limited hydrogen infrastructure for market growth
             TABLE 135 MEXICO: FUEL CELL POWERTRAIN MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.4.3 US
          TABLE 136 US: TARGETS, VISIONS, AND PROJECTIONS
          TABLE 137 US: FUEL CELL POWERTRAIN PROJECTS
          TABLE 138 US: MARKET - POLICIES AND REGULATIONS
          12.4.3.1 Trucks segment projected to grow fastest
             TABLE 139 US: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
             TABLE 140 US: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)

13 COMPETITIVE LANDSCAPE (Page No. - 202)
   13.1 OVERVIEW
   13.2 MARKET SHARE ANALYSIS, 2021
     FIGURE 50 FUEL CELL POWERTRAIN MARKET SHARE ANALYSIS, 2021
   13.3 REVENUE ANALYSIS OF TOP FIVE PLAYERS
     FIGURE 51 TOP FIVE PLAYERS DOMINATED MARKET FROM 2017 TO 2021
   13.4 COMPETITIVE SCENARIO
     TABLE 141 NEW PRODUCT DEVELOPMENTS
     TABLE 142 DEALS
     TABLE 143 OTHERS
   13.5 COMPETITIVE LEADERSHIP MAPPING
     13.5.1 STARS
     13.5.2 EMERGING LEADERS
     13.5.3 PERVASIVE PLAYERS
     13.5.4 PARTICIPANTS
          FIGURE 52 FUEL CELL POWERTRAIN MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
   13.6 STRENGTH OF PRODUCT PORTFOLIO
     FIGURE 53 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN MARKET
   13.7 BUSINESS STRATEGY EXCELLENCE
     FIGURE 54 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN FUEL CELL POWERTRAIN MARKET

14 COMPANY PROFILES (Page No. - 221)
(Business Overview, Products Offered, Recent Developments, MnM view, Key strengths/right to win, Strategic choices made, Weaknesses and competitive threats)* 
   14.1 KEY PLAYERS
     14.1.1 CUMMINS INC.
          TABLE 144 CUMMINS INC.: BUSINESS OVERVIEW
          FIGURE 55 CUMMINS INC.: COMPANY SNAPSHOT
          TABLE 145 CUMMINS INC.: PRODUCTS OFFERED
          TABLE 146 CUMMINS INC.: NEW PRODUCT DEVELOPMENTS
          TABLE 147 CUMMINS INC.: DEALS
          TABLE 148 CUMMINS INC.: OTHERS
     14.1.2 BALLARD POWER SYSTEMS
          TABLE 149 BALLARD POWER SYSTEMS: BUSINESS OVERVIEW
          FIGURE 56 BALLARD POWER SYSTEMS: COMPANY SNAPSHOT
          TABLE 150 BALLARD POWER SYSTEMS: PRODUCTS OFFERED
          TABLE 151 BALLARD POWER SYSTEMS: NEW PRODUCT DEVELOPMENTS
          TABLE 152 BALLARD POWER SYSTEMS: DEALS
     14.1.3 ROBERT BOSCH GMBH
          TABLE 153 ROBERT BOSCH GMBH: BUSINESS OVERVIEW
          FIGURE 57 ROBERT BOSCH GMBH: COMPANY SNAPSHOT
          TABLE 154 ROBERT BOSCH GMBH: PRODUCTS OFFERED
          TABLE 155 ROBERT BOSCH GMBH: DEALS
     14.1.4 DENSO CORPORATION
          TABLE 156 DENSO CORPORATION: BUSINESS OVERVIEW
          FIGURE 58 DENSO CORPORATION: COMPANY SNAPSHOT
          TABLE 157 DENSO CORPORATION: PRODUCTS OFFERED
          TABLE 158 DENSO CORPORATION: DEALS
     14.1.5 FEV EUROPE GMBH
          TABLE 159 FEV EUROPE GMBH: BUSINESS OVERVIEW
          TABLE 160 FEV EUROPE GMBH: PRODUCTS OFFERED
          TABLE 161 FEV EUROPE GMBH: OTHERS
     14.1.6 FCP FUEL CELL POWERTRAIN GMBH
          TABLE 162 FCP FUEL CELL POWERTRAIN GMBH: BUSINESS OVERVIEW
          TABLE 163 FCP FUEL CELL POWERTRAIN GMBH: PRODUCTS OFFERED
     14.1.7 ITM POWER
          TABLE 164 ITM POWER: BUSINESS OVERVIEW
          FIGURE 59 ITM POWER: COMPANY SNAPSHOT
          TABLE 165 ITM POWER: PRODUCTS OFFERED
          TABLE 166 ITM POWER: DEALS
          TABLE 167 ITM POWER: OTHERS
     14.1.8 CERES POWER
          TABLE 168 CERES POWER: BUSINESS OVERVIEW
          FIGURE 60 CERES POWER: COMPANY SNAPSHOT
          TABLE 169 CERES POWER: PRODUCTS OFFERED
          TABLE 170 CERES POWER: NEW PRODUCT DEVELOPMENTS
          TABLE 171 CERES POWER: DEALS
     14.1.9 DELPHI TECHNOLOGIES
          TABLE 172 DELPHI TECHNOLOGIES: BUSINESS OVERVIEW
          TABLE 173 DELPHI TECHNOLOGIES: PRODUCTS OFFERED
     14.1.10 AVL LIST GMBH (AVL)
          TABLE 174 AVL LIST GMBH: BUSINESS OVERVIEW
          TABLE 175 AVL LIST GMBH: PRODUCTS OFFERED
          TABLE 176 AVL LIST GMBH: DEALS
     14.1.11 SHANGHAI FUEL CELL VEHICLE POWERTRAIN CO., LTD.
          TABLE 177 SHANGHAI FUEL CELL VEHICLE POWERTRAIN CO., LTD.: BUSINESS OVERVIEW
          TABLE 178 SHANGHAI FUEL CELL VEHICLE POWERTRAIN CO., LTD.: PRODUCTS OFFERED
     14.1.12 PLUG POWER
          TABLE 179 PLUG POWER: BUSINESS OVERVIEW
          FIGURE 61 PLUG POWER: COMPANY SNAPSHOT
          TABLE 180 PLUG POWER: PRODUCTS OFFERED
          TABLE 181 PLUG POWER: NEW PRODUCT DEVELOPMENTS
          TABLE 182 PLUG POWER: DEALS
          TABLE 183 PLUG POWER: OTHERS
     14.1.13 NUVERA FUEL CELLS
          TABLE 184 NUVERA FUEL CELLS: BUSINESS OVERVIEW
          TABLE 185 NUVERA FUEL CELLS: PRODUCTS OFFERED
          TABLE 186 NUVERA FUEL CELLS: NEW PRODUCT DEVELOPMENTS
          TABLE 187 NUVERA FUEL CELLS: DEALS
     14.1.14 NEDSTACK
          TABLE 188 NEDSTACK: BUSINESS OVERVIEW
          TABLE 189 NEDSTACK: PRODUCTS OFFERED
          TABLE 190 NEDSTACK: DEALS
     14.1.15 DOOSAN CORPORATION
          TABLE 191 DOOSAN CORPORATION: BUSINESS OVERVIEW
          FIGURE 62 DOOSAN CORPORATION: COMPANY SNAPSHOT
          TABLE 192 DOOSAN CORPORATION: PRODUCTS OFFERED
          TABLE 193 DOOSAN CORPORATION: DEALS
          TABLE 194 DOOSAN CORPORATION: OTHERS
     14.1.16 PROTON POWER SYSTEM
          TABLE 195 PROTON POWER SYSTEM: BUSINESS OVERVIEW
          FIGURE 63 PROTON POWER SYSTEM: COMPANY SNAPSHOT
          TABLE 196 PROTON POWER SYSTEM: PRODUCTS OFFERED
          TABLE 197 PROTON POWER SYSTEM: DEALS
          TABLE 198 PROTON POWER SYSTEM: OTHERS
     14.1.17 DANA INCORPORATED
          TABLE 199 DANA INCORPORATED: BUSINESS OVERVIEW
          FIGURE 64 DANA INCORPORATED: COMPANY SNAPSHOT
          TABLE 200 DANA INCORPORATED: PRODUCTS OFFERED
          TABLE 201 DANA INCORPORATED: DEALS
   14.2 OTHER KEY PLAYERS
     14.2.1 HYUNDAI KEFICO CORPORATION
          TABLE 202 HYUNDAI KEFICO CORPORATION: BUSINESS OVERVIEW
     14.2.2 PANASONIC
          TABLE 203 PANASONIC: BUSINESS OVERVIEW
     14.2.3 TORAY INDUSTRIES
          TABLE 204 TORAY INDUSTRIES: BUSINESS OVERVIEW
     14.2.4 SUNRISE POWER CO., LTD.
          TABLE 205 SUNRISE POWER CO., LTD.: BUSINESS OVERVIEW
     14.2.5 INTELLIGENT ENERGY
          TABLE 206 INTELLIGENT ENERGY: BUSINESS OVERVIEW
     14.2.6 POWERCELL SWEDEN AB
          TABLE 207 POWERCELL SWEDEN AB: BUSINESS OVERVIEW
     14.2.7 SYMBIO
          TABLE 208 SYMBIO: BUSINESS OVERVIEW
     14.2.8 ELRINGKLINGER AG
          TABLE 209 ELRINGKLINGER AG: BUSINESS OVERVIEW
     14.2.9 SWISS HYDROGEN POWER
          TABLE 210 SWISS HYDROGEN POWER: BUSINESS OVERVIEW
     14.2.10 DAIMLER
          TABLE 211 DAIMLER: BUSINESS OVERVIEW
     14.2.11 FUEL CELL SYSTEM MANUFACTURING LLC.
          TABLE 212 FUEL CELL SYSTEM MANUFACTURING LLC.: BUSINESS OVERVIEW
*Details on Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies. 

15 APPENDIX (Page No. - 280)
   15.1 KEY INSIGHTS OF INDUSTRY EXPERTS
   15.2 DISCUSSION GUIDE
   15.3 KNOWLEDGESTORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
   15.4 AVAILABLE CUSTOMIZATIONS
   15.5 RELATED REPORTS
   15.6 AUTHOR DETAILS