Automotive Fuel Cell Market Is Anticipated To Grow

Automotive Fuel Cell Market Is Anticipated To Grow With The CAGR Of More
Than 40% By 2027

Automotive
fuel cells are electrochemical devices that convert chemical energy in fuels into
electrical energy directly, promising power generation with high efficiency and
low environmental impact. Automotive fuel cells are unique in terms of the
variety of their potential applications; they use different types of fuels,
such as hydrogen fuel and methanol fuel.



According to the report title “Global Automotive Fuel Cell Market Outlook, 2027”, publish by Bonafide Research, the
automotive fuel cell market is anticipated to grow at a CAGR of 41% in value
terms in the forecast period. The diversity of fuel cells is in different
stages of development. The most common classification of fuel cells is by the
type of electrolyte used in the cells and includes proton exchange membrane
fuel cell, direct methanol fuel cell, alkaline fuel cell and phosphoric acid
fuel cell. Proton exchange membrane fuel cell is leading the market with more
than 95% value share. Nowadays, PEM fuel cells are the best candidates for
powering automobiles because they operate at relatively low temperatures and
can quickly vary their output to meet shifting power demands.



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Hydrogen
is a clean fuel that, when consumed in automotive fuel cells, it produces only
water. Hydrogen can be produced from a diversity of domestic resources, such as
natural gas, biomass, and renewable energy like solar and wind. These calibres
make it an appealing fuel option for transportation and electricity generation
applications. According to the report, the market is segregated into two major
fuel types i.e. hydrogen fuel and methanol fuel. The Hydrogen fuel segment is
leading the market with more than 98% value market share. By power output, the
market is segmented into three parts, i.e. below 100KW, 100KW to 200KW and
above 200KW. The below 100KW power output segment is leading the market with
more than 55% market share.



Fuel cell vehicles are being developed in various countries because of promise
to meet the requirements expected of automobiles in a market increasingly
constrained by environmental and resource limitations. Through a combination of
policies of various governments, technology advancement and industrial
collaboration, fuel cell applications are now entering into a golden era of
development. According to the report, by region wise, the automotive fuel cell
market is segregated into four major regions i.e. North America, Europe,
Asia-Pacific and Latin America, Middle East and Africa. The Asia Pacific region
is dominating the market with more than 63% value market share. Follow by North
America region. By country, South Korea is leading the automotive fuel cell
market with more than 25% market share. There are many prominent companies in
the automotive fuel cell market which are leading the market. The companies are
Ballard Power Systems Inc, Doosan Fuel Cell Co. Ltd, Plug Power Inc., Hydrogenise
and Nuvera Fuel Cells, LLC.



The COVID-19 pandemic has impacted the market as severely as it had impacted
the other automotive segments. The market experienced a downfall during the
global lockdown; however the automotive fuel cell market recovered rapidly.
Fuel cell vehicles and fuel cells are no longer part of experiment in the eyes
of the public but it is recognized as one of the key driving technologies for
now and the future of mobility.

 

Major Companies present in the market:

Ballard Power Systems Inc, Doosan Fuel Cell Co. Ltd, Plug Power Inc., Hydrogenise
(Cummins Inc.), Nuvera Fuel Cells, LLC, SFC Energy AG, Elringklinger AG, Ceres
Power Holdings plc, Power cell Sweden AB, ITM Power PLC, Ned stack Fuel Cell
Technology BV, Intelligent Energy Limited, Horizon Fuel Cell Technology (Hong
Kong) Limited, AVL List GmbH, Proton Motor Fuel Cell GmbH, Wuhan Tiger Fuel
Cell Co., Limited.



Considered in this report

  • Geography: Global

  • Base year:  2021

  • Estimated year: 2022

  • Forecast year: 2027



Aspects covered in this report

  • Global Automotive Fuel Cell market
with its value and forecast along with its segments

  • Region-wise automotive fuel cell
market analysis

  • Various drivers and challenges

  • On-going trends and developments

  • Top profiled companies

  • Strategic recommendation



Regions covered in the report

  • North America

  • Europe

  • Asia-Pacific

  • Latin America, Middle East and Africa



Types of Electrolyte in the report

  • Proton Exchange Membrane Fuel Cell

  • Direct Methanol Fuel Cell



Type of Fuel in the report

  • Hydrogen Fuel

  • Methanol Fuel



By Power Output:

  • Below 100KW

  • 100KW to 200KW

  • Above 200KW



Table of Contents

1. Executive Summary

2. Report Methodology

3. Market Structure

3.1. Market Considerate

3.2. Market Definition

4.Economic /Demographic Snapshot

5.Global Automotive Fuel Cell Market Outlook

5.1. Market Size by Value

5.2. Market Share

5.2.1.By Region

5.2.2.By Electrolyte Type

5.2.3.By Fuel Type

5.2.4.By Power Output

5.2.5.By Country

5.2.6. By Company

…continue

To Access
Complete Report:https://www.bonafideresearch.com/product/220259931/global-automotive-fuel-cell-market

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