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Automotive Fuel Cell System Market - Growth, Trends, and Forecast (2020 - 2025)

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Chinese Automotive Industry to Cut Down on Conventional Fuel Emissions

Eight of the world’s largest automobile manufacturers have plans to commercialize Fuel Cell Vehicles (FCVs) by 2025. With the recent Volkswagen emissions scandal, China has made efforts to promote fuel cell technology in automobiles. In 2015, it initiated an agenda to produce 333 fuel cell-based buses and cars in the country to cut down on the conventional fuel emissions. China’s 13th five-year plan is going to have a great impact on fuel cells as it focuses on clean energy and technology.

Asia-Pacific registered the highest market share, followed closely by Europe and North America. Hydrogen market, a segment of fuel cell market, has great potential as compared to biogas, natural gas, methanol, and hydrocarbons. The automotive fuel cell market is in the midst of a revolutionary development that reduces the cost of infrastructure and other resources. This report provides a look into the recent developments in the automotive fuel cell market and its growth prospects. Toyota’s “Mirai” is the first fuel cell vehicle to enter the commercial market.

                                                 

                                                  Source: Mordor Intelligence Analysis

Higher adoption in Asia-Pacific, stringent EPA and CAFÉ standards and high energy efficiency requirements serve as major drivers for the fuel cell market. The low density of fuel compared to gasoline, and the fact that fuel cell equipped vehicles are not completely green like pure electric vehicles are restraining factors for the automotive fuel cell market.

Market Segmentation

The automotive fuel cell market is segmented by electrolyte type, vehicle type, operating temperature type, and geography.

Key Industry Players:

Some of the key players in the market are Ballard, Ceramic Fuel Cells, Delphi, Doosan Fuel Cells, Hydrogenics, and Nedstack.

Recent Developments

February 2018: Hyundai's Fuel cell vehicle NEXO displays what the future of driving could be like.

Reasons to Purchase the Report

  • To study the current and future market in the developed and emerging regions.
  • Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
  • Identify the segment that is expected to dominate the market.
  • Identify the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3-month analyst support along with the Market Estimate sheet (in Excel).

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