Automotive Fuel Cell Market Forecasts to 2028 – Latest Ideas to Guide the Industry Growth and Key Players – Panasonic, Toshiba, Toyota Motor
By: AB Newswire
September 27, 2021 at 16:38 PM EDT
Global Automotive Fuel Cell Market is expected to reach US $ 31.18 BN By Forecast year 2028 Automotive Fuel Cell Market size is expected to grow from US $ 1.12 BN in 2020 to US $ 31.18 BN by 2028, at a CAGR of 51.5%.
The market report “Automotive Fuel Cell Market” by Vehicle Types (Passenger Vehicle, Commercial Vehicle, Multi-Purpose Vehicle, Sport Utility Vehicles (SUVs) & Crossovers, Buses and Coaches, Two Wheelers, Heavy & Special Duty Truck, Electrical Vehicles, Agricultural Vehicles, and Forklift, Port Vehicle, & Internal Container Handling Vehicle), Components (Air Compressor, Fuel Cell Stack, Fuel Processor, Humidifier, and Power Conditioner), Operating Miles (0-250 Miles, 251-500 Miles, and Above 500 Mile), Power Capacities (250 kW), Electrolyte Types (Alkaline Fuel Cell (AFC), Direct Methanol Fuel Cell (DMFC), Molten Carbonate Fuel Cell (MCFC), Phosphoric Acid Fuel Cell (PAFC), Proton Exchange Membrane Fuel Cell (PEMFC), Solid Oxide Fuel Cell (SOFC), and Polymer Electronic Membrane Fuel Cell), Specialised Vehicle Types (Material Handling Vehicles and Auxiliary Power Unit for Refrigerated Truck), Fuel Types (Methanol and Hydrogen) and Region – Forecast to 2028”. The automotive fuel cell market is growing at a CAGR of 51.5% by 2028, owing to the rising government focus to adopt sustainable energy solutions.
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Based on fuel type, the methanol segment is anticipated to grow faster during the forecast period.On the basis of fuel type, the market is categorised into methanol and hydrogen. The methanol segment is projected to grow faster during the forecast period due to ease of transport, easy availability, generate low power and involve lesser costs.
Based on power capacity, the 150-250 kW segment is anticipated to grow faster during the forecast period.On the basis of power capacity, the market is segmented into 250 kW. 150-250 kW segment is projected to grow faster due to it is most widely produced, since it gives the highest output at a given cost. Fuel cell energy presents large primary power and CHP systems in the 250 kW operating range, using a molten carbonate fuel cell (MCFC) system.
By geography, North America is anticipated to grow faster during the forecast period.On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is going to have a huge demand due to the huge number of hydrogen fuel stations taking into account the market. However, fuel cell vehicles are in high command in some countries like the US and Canada.
The key players in this market are Panasonic, Toshiba, Toyota Motor Corporation, AFCC, American Honda Motor Company Inc., Ballard Power Systems, BorgWarner Inc., Continental Industries, Cummins, Daimler AG, Delphi Technology, Hydrogenics, Hyster Yale, Hyundai Motor Company, ITM Power, Nedstack Fuel Cell Technology, Nissan Motor Corporation, Plug Power, and Proton Motor Fuel Cell GmbH.
Browse the complete report with 270 data tables and 45+ figures here: https://www.strategymrc.com/report/automotive-fuel-cell-market/toc
The report supplies a comprehensive analysis of business aspects like global Automotive Fuel Cell market size, recent technological advances, and inventions. The research report consists of: introduction of the market, key players, opportunities, restraints, product and type classification, and overall market analysis. This research study aims to help in making the right steps before starting up a company, business conclusions, and shape the future of the organizations. For supreme reader ease, this research presentation on the global market establishes the overall forecast timeline, allowing detailed market approximation about growth likelihood in the market.
The Global Automotive Fuel Cell market 2021 research provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Global Automotive Fuel Cell market Share report is provided for the international markets as well as development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analysed. This report additionally states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.
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