The future of the automotive fuel cell market looks promising with opportunities in the passenger car, light duty vehicle, and heavy duty vehicle segments. The global automotive fuel cell market is expected to grow with a CAGR of 30% to 32% from 2021 to 2026. The major drivers for this market are increasing demand for zero-emission vehicles and government subsidies as tax benefits to promote fuel cell vehicles and growing concerns for environmental pollution.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of medium and heavy-duty vehicles and focus on improving hydrogen infrastructures.
A total of 144 figures / charts and 131 tables are provided in this 210 page report to help in your business decisions Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of automotive fuel cell market report download the report brochure.
The study includes trends and forecasts for the global automotive fuel cell market by end use, component type, power output type, electrolyte type, and region as follows:
By End Use [$M and Unit shipment analysis for 2015 – 2026]:
- Passenger Car
- Light Duty Vehicle
- Heavy Duty Vehicle
By Component Type [$M shipment analysis for 2015 – 2026]:
- Fuel Processor
- Fuel Stack
- Power Condition & Others
By Power Output Type [$M and Unit shipment analysis for 2015 – 2026]:
- <100 KW
- 100–200 KW
- >200 KW
By Electrolyte Type [$M and Unit shipment analysis for 2015 – 2026]:
By Region [$M and Unit shipment analysis for 2015 – 2026]:
- North America
- United States
- United Kingdom
- Asia Pacific
- The Rest of the World
Some of the automotive fuel cell market companies profiled in this report include Ballard Power Systems, Cummins, Plug Power, PowerCell, and Horizon Fuel Cell.
Lucintel forecasts that <100 kW power output will remain the largest segment due to growth in demand for fuel cell operated personal vehicles and material handling equipment that will not emit harmful gases.
Within the automotive fuel cell market, fuel stack will remain the largest component type during the forecast period due to high price of raw material and lower volume of production.
Asia Pacific will remain the largest region during the forecast period due to growing demand for low emission fuel options, increase in investment for fuel cell technology, and stringent government regulations in various countries pertaining to energy sustainability are among the major drivers of this market.
Features of Automotive Fuel Cell Market
- Market Size Estimates: Automotive fuel cell market size estimation in terms of value ($M) and volume (Unit)
- Trend and Forecast Analysis: Market trends (2015-2020) and forecast (2021-2026) by various segments and regions.
- Segmentation Analysis: Market size by end use, component type, power output type, electrolyte type, and regions.
- Regional Analysis: Automotive fuel cell market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different component type, end use type, power output type, electrolyte type and regions for automotive fuel cell market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the automotive fuel cell market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the global automotive fuel cell market by end use type (passenger car, light duty vehicle and heavy duty vehicle), component type (fuel processor, fuel stack, and power condition and others), power output type (<100 kW, 100–200 kW, and >200 kW), electrolyte type (PEMFC, and other), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the automotive fuel cell market?
Q.5 What are the business risks and threats to the automotive fuel cell market?
Q.6 What are emerging trends in this automotive fuel cell market and the reasons behind them?
Q.7 What are some changing demands of customers in the automotive fuel cell market?
Q.8 What are the new developments in the automotive fuel cell market? Which companies are leading these developments?
Q.9 Who are the major players in the automotive fuel cell market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the automotive fuel cell market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the automotive fuel cell market ?