Global Automotive Fuel Cell Market is valued approximately USD 0.44 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 58% over the forecast period 2019-2026. Fuel cell generates energy by utilizing oxygen from the surrounding environment and compressed hydrogen. Most of the vehicles that use fuel cell to power the motor emit water and heat and hence these vehicles are classifies as zero-emission vehicles. The rise in demand for vehicles with better fuel efficiency and increased driving range is a factor responsible for the high CAGR of the global automotive fuel cell market. Further, the rise in demand for automobile in the developing economies is leading to increased automobile production, which in turn is boosting the demand for automotive fuel cell. For instance: according to IBEF, Indian automotive industry (including component manufacturing) is expected to reach rs. 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. Therefore, such enormous automotive market projections are expected to bring attractive opportunities for the automotive fuel cell market over the forecast period. Moreover, stringent norms imposed by government agencies and regulatory bodies on automotive carbon emission is a factor anticipated to boost the automotive fuel cell demand. Additionally, the development of FCEV commercial freight trucks and fuel cell operated buses are the major factor likely to create lucrative growth opportunity to the market in the upcoming years. However, insufficient hydrogen producing infrastructure, rising popularity for battery electric vehicles (BEV) and hybrid electric vehicles (HEV) and high cost of fuel cell are few factors anticipated to hinder the growth of global automotive fuel cell market during the forecast period.

The regional analysis of global automotive fuel cell market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to high rate of vehicle production and stringent environment protection policies. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. APAC region represents the biggest market for green technology in the world and therefore is expected to create growth opportunities for the automotive fuel cell market across the region.

Major market player included in this report are:
Ballard Power Systems
ITM Power
Plug Power
Nuvera Fuel Cells
Ceres Power
Doosan Corporation
Delphi Technologies
Proton Power Systems PLC

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Fuel Stack
Fuel Processor
Power Conditioner
Air Compressor

By Power Output:
<150 kW
150–250 kW
>250 kW
By Vehicle Type:
Passenger Car

By H2 Fuel Station:
Asia Oceania
North America

By Specialized Vehicle Type:
Material Handling Vehicle
Auxiliary Power Unit for Refrigerated Truck

By Region:
North America
Asia Pacific
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Automotive Fuel Cell Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers