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Automotive Fuel Cell Market worth 932.6 thousand units by 2028


Automotive Fuel Cell Market by Component (Fuel Processor, Fuel Stack, Power Conditioner, Air Compressor, Humidifier), Power Output (250kW), H2 Fuel Station, Vehicle Type (PC, LCV, Truck, Bus), and Region - Global Forecast 2028 – PowerPoint PPT presentation

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Title: Automotive Fuel Cell Market worth 932.6 thousand units by 2028

MarketsandMarkets Presents

Automotive Fuel Cell Market worth 932.6 thousand
units by 2028
The report "Automotive Fuel Cell Market by
Component (Fuel Processor, Fuel Stack, Power
Conditioner, Air Compressor, Humidifier), Power
Output (lt150kW, 150 250kW, gt250kW), H2 Fuel
Station, Vehicle Type (PC, LCV, Truck, Bus), and
Region - Global Forecast 2028", is estimated to
be USD 13.6 thousand units in 2020 and projected
to reach 932.6 thousand units by 2028, at a CAGR
of 69.7. The market is driven by fuel cell
advantages such as better fuel efficiency than
ICE vehicles, longer driving range than other
electric vehicles, fast refueling time, zero
greenhouse gas emissions, and government
initiatives pertaining to hydrogen
infrastructure. Browse 164 market data Tables
and 64 Figures spread through 289 Pages and
in-depth TOC on "Automotive Fuel Cell
Market Fuel Stack is projected to be the
largest segment of the automotive fuel cell
market, by component The fuel cell stack is an
essential component of the fuel cell system. To
generate more power and electricity, individual
fuel cells are stacked. This assembly is called a
fuel cell stack. Fuel stack is the most expensive
component of a fuel cell system. The size of the
stack defines the power output of the fuel cell.
The number of fuel cell stacks can be increased
to generate more power and electricity. As the
stack size increases, the cost per unit power
generated decreases. Hence, fuel cells are
efficient for long-range transportation. Get The
PDF Brochure For This Report _at_ https//
Passenger car segment to be largest in the
automotive fuel cell market, by vehicle type The
rising demand for personal mobility and
increasing per capita income are driving the sale
of passenger cars. There are several fuel cell
passenger car models available in the market. Due
to the high demand for passenger cars, large
passenger car production capabilities, stringent
emission norms, comparatively lower fuel cell
production costs, and increasing investments by
leading fuel cell manufacturers such as Ballard
Power Systems, the passenger car segment of the
automotive fuel cell market, by vehicle type, is
projected to lead the market. Realizing the huge
potential of fuel cell passenger cars, many
companies are planning to launch their models in
the coming years. For instance, BMW is planning
to introduce the fuel cell technology developed
together with Toyota in the BMW X6 and X7 in the
coming years.
Europe is projected to be the fastest growing
automotive fuel cell market The European
automotive fuel cell market is driven by
government support and funding. Europe has set a
very ambitious goal of reducing 80 CO2 emissions
by 2050 and created a roadmap for the same. Under
this, the FCHJU was established in 2008 and was
carried out until 2013 as the first
public-private partnership under the European
Strategic Energy Technology Plan (SET-Plan). Its
objective was to accelerate the development of
fuel cells and hydrogen technologies in Europe to
enable their commercialization. The continuation
and further strengthening of the program have
been proposed under Horizon 2020, the new
innovation investment package for 2014 to 2020.
The Joint Initiative for Hydrogen Vehicles across
Europe (JIVE) was started in 2017 to deliver 139
fuel cell buses and hydrogen refuelling
infrastructure across five countries. A year
later, the next phase of the initiative (JIVE 2)
was launched alongside the original six-year
program. Combined, the JIVE and JIVE 2 programs
plan to deploy nearly 300 fuel cell buses in 22
cities across Europe. The key players in the
market include Ballard Power Systems, Plug Power,
Delphi Technologies, Doosan Corporation, Proton
Power Systems PLC, and Hydrogenics, and among
others. These companies have followed supply
oint ventures key strategies to gain traction in
the automotive fuel cell market. To speak to our
analyst for a discussion on the above findings,
click Speak to Analyst
  • Critical Questions
  • How will electric vehicle trends impact the
    automotive fuel cell market in the long term?
  • How will government regulations impact the
    automotive fuel cell market?
  • What are the upcoming trends in the fuel cell
    market? What impact would they make post 2025?
  • What are the key strategies adopted by leading
    market players to increase their revenue?
  • Which regions and countries are expected to be
    the key markets for automotive fuel cells over
    the next decade?
  • Request FREE Sample Report _at_ https//www.marketsan

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