Automotive Fuel Cell Market 2022-2035 Strategy and Actionable Prospects

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automotive fuel cell market

Automotive Fuel Cell Market By Electrolyte Type, By Fuel Type, By Component, By Power Output, By Specialty Vehicle, By Vehicle Type: Global Analysis -2035

PORTLAND, OREGON, USA, Feb. 1, 2022 /EINPresswire.com/ — Automotive Fuel Cell Market Outlook 2022-2035: With growing concerns over emission levels and carbon footprint, governments are trying to find an alternative to gasoline engines. This has led to the growing adoption of zero-emission vehicles. The fuel cell is an economical and attractive option for zero-emission mobility. A fuel cell electric vehicle is an electrically powered vehicle in which electricity is generated by a fuel cell using hydrogen as the energy source. Alternatively, this energy can be temporarily stored by the traction battery. In addition, fuel cells have a higher efficiency than diesel or gas engines. In addition, most fuel cells operate with a low noise level compared to the internal combustion engine.

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Automotive Fuel Cell Market Scope and Structure Analysis:
Report measurement details
Market size available for the years 2019-2027
Reference year considered 2019
Forecast Period 2020–2027
Forecast Units Value (USD)
Segments Covered Electrolyte Type, Fuel Type, Component, Horsepower, Specialty Vehicle, Vehicle Type
Regions Covered North America (US and Canada), Europe (Germany, UK, France and Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Americas Latin (Brazil, Mexico, and rest of LATAM) and Middle East and Africa
Companies covered Ballard, Nuvera Fuel Cells LLC, Nedstack, SFC Energy AG, Elcogen AS, Fuel Cell Energy Inc., ITM Power, Hydrogenics, Plug Power and Proton Power System PLC

Automotive Fuel Cell Market COVID-19 Scenario Analysis:
• The financial market has been completely disrupted due to the coronavirus pandemic.
• The shutdown of automotive industries has impacted heavily automated tire-mounted sensor industries. Although it does not affect the aftermarket sales of the automotive tire mounted sensor.
• Consumer spending will remain weak during the first months of lockdown say economists and buying preference will shift towards essentials rather than luxuries. This will affect the automotive industry.
• Despite everything, the market for zero-emission vehicles tends to develop in the near future. People understand the drawbacks of pollution from conventional vehicles. Additionally, shared mobility would face a drop due to COVID-19; thereby fueling the market for zero-emission vehicles.
• Consumer buying preference could be seen as shifting towards zero-emission vehicles due to environmental awareness and cleaner technologies.

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Main impact factors: analysis of market scenarios, trends, drivers and impact analysis

Rising awareness of zero emission vehicle has amplified the automotive fuel cell market. Strict government norms and emission standards aimed at reducing carbon footprint globally are driving the growth of the automotive fuel cell market. In addition, fuel cells increase the operating range of the vehicle. In addition, growing awareness of the unhealthy air quality index prescribed by the World Health Organization (WHO) may increase automotive fuel cell sales. However, hydrogen is highly flammable and difficult to store. Additionally, increasing adoption of BEVs and HEVs and insufficient hydrogen infrastructure is hampering the growth of the market. In addition, maintenance of fuel cells is simple since there are no moving parts; thus, proliferating market growth.

The automotive fuel cell market trends are as follows:

Innovations to drive market growth

Fuel cells have many advantages, but because it is expensive to separate water into oxygen and hydrogen, it is hindering its market growth. However, manufacturers in the automotive fuel cell market are under constant pressure to find an alternative to split water molecules. Recently, scientists at Swinburne University of Technology and Griffith University found a way to separate water molecules using inexpensive metals such as iron and nickel as catalysts. This would help proliferate the growth of the automotive fuel cell market.

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Increased adoption of fuel cell passenger cars

Many automakers are also focusing on adopting fuel cell technologies in cars. For example, BMW introduced i Hydrogen next car which uses fuel cell technology. In addition, BMW and Toyota have signed a cooperation pact on fuel cell technologies. Additionally, governments are investing heavily in the development of the infrastructure necessary for the growth of the fuel cell market. For example, South Korea will produce 6.2 million units of fuel cell electric vehicles and build 1,200 gas stations across the country by 2040.

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Key Segments Covered:
Segments Sub-segments

Type of electrolyte
• Polymer Electronic Membrane Fuel Cell (PEMFC)
• Direct methanol fuel cell
• Alkaline fuel cell
• Phosphoric acid fuel cell (PAFC)

Fuel type
• Hydrogen
• Methanol

Making up
• Fuel processor
• Fuel cell
• Power conditioner
• Air compressor
• Humidifier

output power
• • 150–250kW
• >250kW

Specialized vehicle
• Handling vehicle
• Auxiliary power unit for refrigerated truck

Vehicle type
• Passenger car
• Commercial vehicle

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Similar reports we have from the fuel cell vehicle industry:

Hydrogen Fuel Cell Vehicles Market by Vehicle Type (Passenger Vehicle and Commercial Vehicle) and Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells and Others): Global Opportunities Analysis and Market Forecast industry, 2019-2030.

Fuel Cell Bicycle Market by Drive Mechanism (Hub Motor, Mid Drive and Others), Battery Type (Lead Acid, Lithium-Ion (Li-ion), Nickel Metal Hydride (NiMh) and Others ): Global Opportunities Analysis and Industry Forecast, 2021-2035.

David Correa
Allied Analytics LLP
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