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Global Automotive Fuel Cell Market Size To Expand at a Notable CAGR Of 15% During 2019-2023.Market Insights
The major factor supporting the global automotive fuel cell market growth is conscious decisions by the automakers to reduce the carbon footprint in order to compensate the large automotive sales. The second factor is government initiatives in developed countries to find cleaner and greener alternatives to fuel. The third factor is the threat posed to the physical wellbeing of the user by conventional cell technology.
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Automotive Fuel Cell Market Key Players:
Ballard Power Systems Inc. (Canada), ITM Power (U.K.), Hydrogenics (Canada), Plug Power (U.S.), Automotive Fuel Cell Cooperation (Canada), and Ceramic Fuel Cells Ltd (Australia). Delphi Technologies (U.K.), Doosan Fuel Cell America (U.S.), Nedstack (The Netherlands) and Plug Power (U.S.) are among others.
The automotive fuel cell technology is an attractive proposition for automakers, which helps them manufacture high energy cells capable of powering the automobiles. The fuel cells use either hydrogen or methane as the primary energy provider. Both these elements are cleaner sources of fuel, as against the conventional lithium-ion battery cells, which cannot be recycled. The lithium-ion battery cells pose the problem of disposal, thus impacting the environment considerably.
The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Market Segmentation
The global automotive fuel cell market can be segmented on the basis of the components, electrolyte type, fuel type, power output, vehicle type, and lastly, region. The components-based segmentation segments this market into the fuel processor, fuel stack, and power conditioner. Based on the electrolyte type, the market has been segmented into phosphoric acid fuel cell (PAFC) and proton exchange membrane fuel cells (PEMFC).
By fuel type, the market has been segmented into hydrogen and methanol. On the basis of power output, the market has been segmented into less than 100KW, 100-200 KW, and more than 200KW. As per vehicle type, the market has been segmented into the light commercial vehicle (LCV), heavy commercial vehicle (HCV), and passenger vehicle (PV).
Regional Analysis
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to drive sales of the global automotive fuel cell market, making it a continually growing market. The governments of countries such as China, Japan and Hong Kong are encouraging the use of renewable energies backed with favorable policies to restrict the ill effects of global warming.
North America region is taking steps to reduce the carbon footprint due to a large number of vehicles plying on the roads. The high demand for passenger vehicles and heavy commercial vehicles increases the demand for the fuel cell as a greener alternative to the traditional cells.
List Of Tables:
Table 1 Global Automotive Fuel Cell Market: By Region, 2017-2023
Table 2 North America Automotive Fuel Cell Market: By Country, 2017-2023
Table 3 Europe Automotive Fuel Cell Market: By Country, 2017-2023
Table 4 Asia Pacific Automotive Fuel Cell Market: By Country, 2017-2023
Table 5 RoW Automotive Fuel Cell Market: By Country, 2017-2023
Table 6 Global Automotive Fuel Cell Market, By Electrolyte Type, By Regions, 2017-2023
Table 7 North America Automotive Fuel Cell Market, By Electrolyte Type, By Country, 2017-2023
Table 8 Europe Automotive Fuel Cell Market, By Electrolyte Type, By Country, 2017-2023
Table 9 Asia Pacific Automotive Fuel Cell Market By Electrolyte Type, By Country, 2017-2023
Table 10 RoW Automotive Fuel Cell Market By Electrolyte Type, By Country, 2017-2023
Table 11 Automotive Fuel Cell By Power Output Market: By Regions, 2017-2023
Table 12 North America Automotive Fuel Cell Market By Components: By Country, 2017-2023
Table 13 Europe Automotive Fuel Cell Market By Components: By Country, 2017-2023
Table 14 Asia Pacific Automotive Fuel Cell Market By Components: By Country, 2017-2023
Table 15 RoW Automotive Fuel Cell Market By Components: By Country, 2017-2023
Table 16 Automotive Fuel Cell By Components Market: By Regions, 2017-2023
Table 17 North America Automotive Fuel Cell Market By Components: By Country, 2017-2023
Table 18 Europe Automotive Fuel Cell Market By Components: By Country, 2017-2023
Table 19 Asia Pacific Automotive Fuel Cell Market By Components: By Country, 2017-2023
Table 20 RoW Automotive Fuel Cell Market By Components: By Country, 2017-2023
Continued…
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