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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.
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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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 are 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, are 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 used in most vehicles nowadays. Vehicle manufacturers like Honda, Hyundai Motor Company, and Toyotahave started their manufacturing and production of fuel cell technologies and are running effectively. Stationary fuel cells are the largest, most powerful fuel cells. They are 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, 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 demand for fuel cell buses for public and private transportation are driving the Asia-Pacific automotive fuel cell market. Also, 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 leading OEMs such as Toyota, Hyundai, and Honda.
These companies are 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, North America market will 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 are expanding their business by new innovative technologies, so that they can have 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
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.5.4 South America
126.96.36.199 Rest of South America
5.5.5 Middle-East and Africa
188.8.131.52 United Arab Emirates
184.108.40.206 Saudi Arabia
220.127.116.11 Rest of Middle-East and 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