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Automotive Fuel Cell: Introduction

  • A fuel cell vehicle is a type of electric vehicle that uses a fuel cell, instead of a battery, or in combination with a battery or super capacitor, to power its on-board electric motor. A fuel cell is also the source of electricity to power the motor.
  • Fuel cells generally use oxygen from the air and compressed hydrogen for their operation. Most fuel cells emit water and heat; hence, these vehicles are classified as zero-emission vehicles. The automotive fuel cell technology is an attractive proposition for automakers, which helps them manufacture high energy cells capable of powering automobiles. 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 that cannot be recycled.

Key Drivers of Global Automotive Fuel Cell Market:

  • Rise in demand for vehicles is prompting continuous investments by automakers in research and development for the development of cost-effective, environment-friendly and low toxic products with a high life within the industry. Emerging markets for automobiles are witnessing an increase in vehicle production, which is turn is boosting the automotive fuel cell market across the globe.
  • Compliance with new emissions standards for passenger cars and commercial vehicles is majorly achieved by applying changes to the engine alone. Stringent norms on carbon emission of automotive enacted by regulatory bodies across the globe are also anticipated to boost the demand for automotive fuel cell, which in turn controls the emission of toxic gases from vehicles. This is likely to boost the global automotive fuel cell market.
  • Rising global environmental issues such climate change and poor air quality due high fossil fuel consumption propel the demand for clean energy source. Fuel cell generates zero emission and contributes to eliminate greenhouse gases, which is estimated to drive the automotive fuel cell market during the forecast period.

Rising Demand for Fuel Cell Vehicles in Automotive and Transportation to Offer Attractive Opportunities

  • Fuel cell electric vehicles offer high driving range, fast refueling, noiseless operation, and zero emissions of greenhouse gases and air pollutants. Hence, the use of fuel cells is ideal for transportation and automotive applications. Fuel cells are versatile and easily scalable sources of electricity that can be used for large applications in transportation such as material handling vehicles, buses, trains, cars, defense vehicles, and LCVs. Fuel cells are also employed as stationary fuel sources in commercial applications. Fuel cells can be utilized as primary power, backup power, and to generate heat and power in combined heat and power systems. Moreover, governments are taking initiatives to promote usage of fuel cells for transportation, which can further boost the automotive and transportation segment of the fuel cell vehicle market across the globe.

High Initial Investments in Hydrogen Fueling Infrastructure to Hamper Market

  • The setup cost of hydrogen fuel station and other infrastructure are quite high, as compared to that of petroleum, diesel, and other fuels. This has hampered the installation of hydrogen fueling infrastructure around the world. This is due to the expensive equipment required for this fuel along with necessary precautions and safety measures, as hydrogen is an easily combustible fuel. This, in turn, increases the cost of vehicles and subsequently, hampers the automotive fuel cell vehicle across the globe.

Europe to Hold Significant Share of Global Automotive Fuel Cell Market

  • Rate of adoption of technology in Europe is higher than that in other regions, as vehicle manufacturers of the automotive industry in the region emphasize more on the research and development of components. High penetration of premium and luxury vehicles in several countries across the region, including Germany and the U. K., is likely to boost the market for automotive fuel cells in the region.

Key Players Operating in Global Market

The global automotive fuel cell market is highly fragmented with top manufacturers across the global market. A few of the key players operating and potential in the global automotive fuel cell market are:

  • Ballard Power Systems
  • ITM Power
  • Hydrogenics
  • Plug Power
  • AFCC
  • BorgWarner Inc.
  • Toyota Motor Corporation
  • Hyundai Motor Company
  • Nissan Motor Corporation
  • Hyster Yale
  • Cummins
  • Nedstack Fuel Cell Technology
  • American Honda Motor Company Inc.
  • Daimler AG
  • Toshiba
  • Delphi Technology
  • Continental Industries
  • Proton Motor Fuel Cell GmbH

Global Automotive Fuel Cell Market: Research Scope

Global Automotive Fuel Cell Market, by Fuel Type

  • Hydrogen
  • Methanol
  • Others

Global Automotive Fuel Cell Market, by Vehicle Type

  • Passenger Vehicle
    • Hatchback
    • Sedan
    • Utility Vehicles
  • Commercial Vehicle
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle
  • Multi-Purpose vehicle
  • Sport Utility Vehicle
  • Buses and Coaches

Global Automotive Fuel Cell Market, by Electrolyte Type

  • PAFC
  • Others

Global Automotive Fuel Cell Market, by Component

  • Fuel Processor
  • Power Conditioner
  • Fuel Stack
  • Others

Global Automotive Fuel Cell Market, by Power Output

  • <100KW
  • 100-200KW
  • >200KW

Global Automotive Fuel Cell Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Fuel Cell Market