Automotive Fuel Cell Market worth 268,786 Units by 2025
The automotive fuel cell market is estimated to be 4,457 units in 2017 and is projected to reach 268,786 units by 2025, at a CAGR of 65.86% during the forecast period. The base year for the study is 2017 and the forecast period is 2018–2025. The market is primarily driven by the benefits offered by fuel cell vehicles, such as better fuel efficiency and increased driving range, fast refueling, reduced oil dependency, and no greenhouse gas and air pollutants emission. Rising demand for fuel cell vehicles in automotive and transportation sectors and government initiatives toward building hydrogen infrastructure will further boost the automotive fuel cell market.
Target Audience Of Automotive Fuel Cell Market • Automotive fuel cell manufacturers and component suppliers • Fuel stack component manufacturers • Power conditioner component manufacturers • Automotive OEMs • Industry associations and other electric vehicle manufacturers • The automobile industry and related end-user industries
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Scope Of The Report: Automotive Fuel Cell Market, By Electrolyte type • PEMFC • PAFC Automotive Fuel Cell Market, By Component type • Fuel Processor • Fuel Stack • Power Conditioner Automotive Fuel Cell Market, By Vehicle Type • Passenger car • Bus • Light Commercial Vehicle (LCV) • Truck
Key players of Global Battery Market The ecosystem of the fuel cell market consists of fuel cell manufacturers such as Ballard Power Systems (Canada), ITM Power (UK), Hydrogenics (Canada), Plug Power (US), and AFCC (Canada). The OEMs considered include Toyota (Japan), Honda (Japan), Hyundai (South Korea), Daimler (Germany), and Nissan (Japan).
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Asia pacific is projected to be the fastest growing regional market for automotive fuel cell Asia pacific represents the biggest market for green technologies in the world. The governments are setting renewable energy targets, backed by favorable policies such as the kyoto protocol. Currently, the largest markets for fuel cells in asia pacific are japan and south korea. This has been the dominant region for fuel cell adoption since 2009 due to the commercial deployment of japanese fuel cell micro-chp products. Japan, the first nation to commercialize fuel cells, is supporting a project on residential and automotive applications. Asia pacific is projected to be the largest market for automotive fuel cell by 2025 due to the high acceptance of electric vehicles, increasing hydrogen infrastructure, and commercialization of fuel cells in the countries in this region.
BROWSE 55 MARKET DATA TABLES AND 77 FIGURES SPREAD THROUGH 183 PAGES AND IN-DEPTH TOC ON "AUTOMOTIVE FUEL CELL MARKET"
This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.
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