Automotive Fuel Cell Market is anticipated to expand remarkably at a CAGR of 15% during the forecast period of 2018 to 2023. Automotive Fuel Cell Market Research Report – Forecast to 2023 is latest report on Automotive Fuel Cell Industry, which provides Automotive Fuel Cell Global Market Size, Share, Trends, Growth analysis with historic and forecast data.
In this research report Automotive Fuel Cell Market is segmented by Electrolyte Type (PEMFC, PAFC), by Components (Fuel Processor, Power Conditioner and Fuel Stack), by Power Output (<100KW, 100-200KW, >200KW), Fuel Type (Hydrogen, Methanol), Vehicle Type, and region.
Automotive Fuel Cell Key Company Analyzed Are:
Ballard Power Systems Inc. (Canada), ITM Power (the U.K.), Hydrogenics (Canada), Plug Power (the U.S.), Automotive Fuel Cell Cooperation (Canada), and Ceramic Fuel Cells Ltd (Australia). Delphi Technologies (the U.K.), Doosan Fuel Cell America (the U.S.), Nedstack (The Netherlands), Plug Power (the U.S.) and others.
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The recent advancement in technology coupled with increasing importance of environment-friendly components in automotive has led to the rise in incorporation of fuel cells in automotive. Fuel cells are electrochemical cells used for converting chemical energy from fuel into electrical energy.
Owing to the uniqueness and eco-friendly nature of fuel cell technology, it is gaining traction in the automotive industry. The increasing incorporation of fuel cells in newly launched vehicles and increasing demand for durable yet low emission automotive components are fueling the growth of the global automotive fuel cell market.
The strict regulatory framework imposed by governments in various regions to control the rate of emission from vehicles that causes potential harm to human health as well as gives rise to multiple environmental issues is inclining the automotive manufacturers to opt for suitable alternatives over conventional options, which in turn is acting as one of the major drivers for the global automotive fuel cells market.
The global automotive fuel cell market has been segmented based on fuel type, power output, electrolyte type and components. Based on fuel type, the market is segmented into hydrogen, methanol and others. The methanol fuel cell segment is anticipated to project significant growth in the automotive fuel cell industry as methanol fuel cells as compared to hydrogen cells are easily available, easy to transport and involve lesser costs.
Based on power output, the market is segmented into <100KW, 100-200KW and >200KW. The 100-200KW segment is expanding at a noteworthy rate as it is most widely produced.
Based on electrolyte type, the market is segmented into PEMFC (proton-exchange membrane fuel cell) and PAFC (phosphoric acid fuel cell). Based on components, the market is segmented into fuel processor, power conditioner and fuel stack.
Geographically, the global automotive fuel cell market is segmented into four major regions such as North America, Asia Pacific, Europe and the rest of the world. The Asia Pacific region is projecting significant growth in the global fuel cell automotive market owing to the stringent regulations imposed by the government regarding the emission rate of vehicles in this region.
The automotive fuel cell market in the North America region is expanding at a noteworthy rate owing to the increasing demand for fuel cells as a suitable alternative over traditional batteries in passenger as well as heavy commercial vehicles in this region. Increasing incorporation of fuel cells in the personal and commercial vehicles is fueling the expansion of the market in the Europe region.
The automotive fuel cell technology is at a nascent stage. Hence, the players in the global market are focusing on introducing low cost and highly efficient vehicles equipped with fuel cells by increasing their research and development expenditure and strategizing mergers and acquisitions in the automotive fuel cell global market.
In August 2018, United Parcel Service (UPS) has deployed zero-emission hybrid delivery trucks that are equipped with fell cells in California (the U.S.).
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
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