Market Size

The global automotive fuel cell market size was valued at 21,179 units in 2021 and is estimated to reach a value of USD  3,35,800.3 units in 2027. The automotive fuel cell market analysis shows that it will grow with a CAGR of 58.5% over the forecast period of 2021 to 2027.

Market Driver

The need for renewable energy sources is growing as global environmental challenges such as climate change and poor air pollution are exacerbated by high fossil fuel usage. In addition, fuel cells produce zero emissions and help to reduce greenhouse gas emissions which affects the growth of market in future.

Segment Outlook

Based on component, the market is segmented into fuel processor, fuel cell stack, power conditioner, air compressor and humidifier. In terms of Operating Miles, the market is segmented into 0-250 Miles, 251-500 Miles and Above 500 Miles. Based on Vehicle Type, the market is segmented into Passenger Car, LCV, Bus and Truck.  During the forecast period, the passenger car segment will be the largest. This is because governments and OEMs are required to increase their investments and innovations in emerging markets.

Regional Outlook

The Automotive Fuel Cell market research report provides an in-depth analysis of the industry, incorporating quantitative and qualitative data. It includes historical, present, and forecast data of the global market for automotive fuel cell by segment. Furthermore, it provides market size and forecast estimates for five regions, namely Asia Pacific, North America, Europe, Central & South America, Middle East, and Africa from 2015 to 2027. The market for automotive fuel cell is segmented by region and then by country and segment. The demand for hydrogen fuel stations in North America is rapidly expanding. The United States has a vast number of hydrogen fueling stations to serve the industry. Both the United States and Canada have boosted interest for low-emission cars. In several states, such as California in the United States and British Columbia in Canada, fuel cell cars are in high demand. Their pollution standards and legislation that promote the development of zero-emission vehicles have aided the growth of FCEVs. The report analyzes supply and demand-side factors affecting Automotive Fuel Cell market and then evaluates market dynamics affecting the market in coming years. Qualitative insight available in this report are opportunities, drivers, restraints, and future trends.

Company Profile Outlook

Key companies profiled in this market are Ballard Power Systems (Canada), Toyota Motor Corporation (Japan), Hyundai Group (South Korea), Hyster Yale (US), Cummins (US). (England), among others.  However, we have also considered other companies for detailed primary interviews.

Research Methodology

Automotive Fuel Cell market report consists of market analysis including both primary and secondary research. Primary research comprises of the interaction between manufacturers, industry experts, channel partners, and end users, while the secondary research presents an analytical interpretation of relevant published databases, which contains details like company annual reports, and financial reports, white papers, and purchased databases. For single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.

About Us

Market Insight Solutions is a leading market research firm which caters to a diverse portfolio of research campaigns. We are one of the fastest growing research organization led by an extensive team of individuals. Our team has individuals with more than 10 years of experience in diverse research domains. Our strategic insights aim at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains. Segments covered in the report

Automotive Fuel Cell Market Size and Outlook by Components

• Fuel Cell Stack
• Fuel Processor
• Power Conditioner
• Air Compressor
• Humidifier

Automotive Fuel Cell Market Size and Outlook by Vehicle Type

• Passenger Car
• LCV
• Bus
• Truck

Automotive Fuel Cell Market Size and Outlook by Operating Miles:

• 0-250 Miles
• 251-500 Miles
• Above 500 Miles

Automotive Fuel Cell Market Size and Outlook by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Companies Profiled in this Report

• Automotive Fuel Cell Cooperation (Canada)
• Ballard Power Systems Inc. (Canada)
• Ceramic Fuel Cells Ltd (Australia)
• Delphi Technologies (U.K.)
• Doosan Fuel Cell America (U.S.)
• Hydrogenics (Canada)
• ITM Power (U.K.)
• Nedstack (The Netherlands)
• Plug Power (U.S.)
• Plug Power (U.S.)

 

Actionable Outcomes

Our Automotive Fuel Cell Market Report offers a thorough assessment of estimations and projections on the market dynamics. Further, it helps in the implementation of these results as they show tangible benefits to business stakeholders and industry entities decisions as leaders.

Strategic Planning

Every business needs to understand how their product will grow in the forthcoming years. With the current uncertainness due to the COVID-19 scenario, this analysis becomes significant to understand past disruptions and boost the preparedness for the next steps of decision. We at Market Insight Solutions are trying to break down the complex market for the business leaders through strategic insights and resilience in unpredictable situations.

Highlights of the report:

• COVID-19 impact on Automotive Fuel Cell market size
• Automotive Fuel Cell market size, drifts, drivers and opportunities
• Analyzing the regional market for the growth factors, estimated analysis and its penetration to the global market
• Automotive Fuel Cell market size in United States
• Understanding the dynamics of the parent market
• Prime fluctuations of the market dynamics
• Evaluation of the market opportunities
• Historical, current, and projected Automotive Fuel Cell market size from the standpoint of both value and volume
• Market segmentation and comprehensive analysis in the second or third level
• Reporting and evaluation of recent industry developments
• Analysis of market share and developments
• Detailed company profiling of leading companies
• Opportunities to newer markets in global and regional markets
• Analyzing the trajectory line of the business
• Analyze Automotive Fuel Cell market share
• Measures to consider for Automotive Fuel Cell market