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The Automotive Fuel Cell System Market is segmented by Electrolyte Type (Polymer Electronic Membrane Fuel Cell, Direct Methanol Fuel Cell, Alkaline Fuel Cell, and Phosphoric Acid Fuel Cell), Vehicle Type (Passenger Cars and Commercial Vehicles), Fuel Type (Hydrogen and Methanol),Power Output (below 100 KW, 100 to 200 KW, and above 200 KW), and Geography.
2018 - 2026
Fastest Growing Market:
The automotive fuel cell system market is anticipated to register a CAGR of over 13% during the forecast period, 2020-2025.
The automotive fuel cell system vehicle market covers the increasing adoption of alternative fuel in both passenger cars and commercial vehicles, impact of government regulations on manufacturers, initiatives taken by the government to boost the fuel cell vehicle sales, new innovations, and competitive landscape of players operating the market. Additionally, the report is segmented by electrolyte type, vehicle type, fuel type, power output, and geography.
The scope of the report includes:
|Polymer Electronic Membrane Fuel Cell|
|Direct Methanol Fuel Cell|
|Alkaline Fuel Cell|
|Phosphoric Acid Fuel Cell|
|Below 100 KW|
|100 to 200 KW|
|Above 200 KW|
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The hydrogen market, which is a segment of fuel cell market, has great potential as compared to biogas, natural gas, methanol, and hydrocarbons. The low density of fuel cell electric vehicles (FCEVs) compared to gasoline, and the fact that fuel cell equipped vehicles are not completely green like pure electric vehicles have been restraining factors for the automotive fuel cell market.
Fuel cells convert hydrogen from a variety of sources into electricity through a chemical reaction with oxygen, yielding only water as an end product. Some fuel cell technologies, such as those using proton exchange membranes, need very clean hydrogen to operate well, while others, such as direct methanol fuel cells, have been made to run on other fuels. It has also developed a way to combine its fuel cells with natural gas turbines, using the fuel cell's excess heat to boost their efficiency to around 60%.
In the upcoming years, fuel cells could power the cars, with hydrogen replacing the petroleum fuel that is being used in most vehicles nowadays. Vehicle manufacturers, like Honda, Hyundai Motor Company, and Toyota, have started the manufacturing and production of fuel cell technologies and have been running effectively. Stationary fuel cells are the largest, most powerful fuel cells. They have been designed to provide a clean, reliable source of on-site power to hospitals, banks, airports, military bases, schools, and homes. Fuel cells also reduce the consumption of fossil fuels in vehicles. Electrolytes, like hydrogen, ethanol, formic acid, and ammonia, are renewable and that could be used to replace current fossil energy carriers (coal, oil, and gas).
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The high segment of passenger vehicles in the total vehicle production and the demand for fuel cell buses for public and private transportation have been driving the Asia-Pacific automotive fuel cell market. Also, the Asia-Pacific region represents the biggest market for green technologies in the world, and as of now, the largest markets for fuel cells in the region are Japan, China, and South Korea. Moreover, the region is home to the leading OEMs, such as Toyota, Hyundai, and Honda.
These companies have been planning to invest heavily to expand their production capability and promote fuel cell vehicles. Also, the increase in power generation from cleaner energy sources is further expected to boost the advancements in fuel cell technology market in the region.
Several countries across the region are also substantially investing in the development of hydrogen infrastructure and have introduced various methods to expand hydrogen refueling station availability.
On the other hand, the North American market may witness considerable growth on account of the rise in investments in the manufacturing of advanced fuel cell systems.
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The automotive fuel cell system market is dominated by several players, such as Ballard Power Systems Inc., Ceramic Fuel Cells, Delphi Technologies, Doosan Fuel Cell Co. Ltd, Hydrogenics, and Nedstack Fuel Cell Technology BV. These companies have been expanding their business by new innovative technologies so that they can have an edge over their competitors.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Electrolyte Type
5.1.1 Polymer Electronic Membrane Fuel Cell
5.1.2 Direct Methanol Fuel Cell
5.1.3 Alkaline Fuel Cell
5.1.4 Phosphoric Acid Fuel Cell
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Fuel Type
5.4 Power Output
5.4.1 Below 100 KW
5.4.2 100 to 200 KW
5.4.3 Above 200 KW
5.5.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.5.4 South America
184.108.40.206 Rest of South America
5.5.5 Middle East & Africa
220.127.116.11 United Arab Emirates
18.104.22.168 Saudi Arabia
22.214.171.124 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Delphi Technologies
6.2.2 Doosan Fuel Cell Co. Ltd
6.2.3 Ballard Power Systems Inc.
6.2.5 Nedstack Fuel Cell Technology BV
6.2.6 Ceramic Fuel Cell Ltd
6.2.7 Oorja Fuel Cell
6.2.8 Plug Power
6.2.10 Watt Fuel Cell
6.2.11 Nuvera Fuel Cell
7. MARKET OPPORTUNITIES AND FUTURE TRENDS