Automotive Fuel Cell Market – Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2023

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Automotive Fuel Cell Market Global Industry
Analysis Report, Share, Size, Growth, Price
Trends and Forecast, 2015 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Overview

• The global automotive fuel cell market size was
  projected at more than 5000 units and is
  predicted to register CAGR of 12.7 during the
  forecasted period.
• Using fuel cell technology in automotives will
  generate new jobs and build new sources of
  revenue generation. It has a great potential to
  change the market dynamics in resource intensive
  industry.
• The technology is also becoming cost effective
  and will be commercially feasible for mass use in
  automobiles like cars by 2025. Daimler, Nissan,
  Toyota, Hyundai, Honda, Ford and General Motors
  are all developing fuel cell automobiles. All
  these factors have contributed to the overall
  growth of the market. But the technology has been
  lagging behind owing to high operating costs and
  lack of infrastructure. It is a feasible choice
  to other zero emission automobile technologies.

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Continued

• Toyota has sold its first miral fuel cell Sedan
  car in Belgium. Hydrogenics Corporation has
  become the first client of Toyota miral in
  Belgium. This zero emission sedan car can be
  refueled within 3 to 5 minutes and has a driving
  range of about 550 km. The most important
  features of this car is a good driving range,
  less refueling time and no emissions other than
  water vapor. These fuel cell cars also referred
  as green vehicles are environment friendly than
  the cars using diesel or petrol as they do not
  add to the environmental pollution or greenhouse
  gas emissions in atmosphere.
• In 2015, Audi unit of Volkswagen group had
  purchased fuel cell technology from Ballard power
  systems at about 112 million. Ballard will
  transfer automotive related patents to Volkswagen
  group for 50 million and will offer engineering
  services till 2019. The Audi unit of Volkswagen
  had made plans to make technology available to
  its other automobile brands like Lamborghini,
  Porsche and Bentley. Automaker has introduced the
  concept of fuel cell powered cars based on Passat
  Sedan, Audi A7 luxury car and Volkswagen golf
  hatchback.

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Germany automotive fuel cell market size, by
application, 2012-2023 (Unit Shipment)

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Key industry player profiles include

• Participants occupying major automotive fuel cell
  market share include Ballard, Fuel Cell Energy,
  and Toshiba. Other notable participants include
  Plug Power Inc., Panasonic, and Hydrogenics
  Corporation.

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