A fuel cell is a device that generates electricity by a chemical reaction. Automotive fuel cells create electricity to power an electric motor, generally using oxygen from the air and compressed hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no harmful tailpipe exhaust—they emit water vapor and warm air.
With increasing emission levels, the governments across the globe are focusing on promoting the adoption emission-free vehicles. Several countries around the world including the US and Germany are providing various incentives for fuel cell vehicle buyers. For instance, fuel cell vehicle buyers in Germany receive an incentive of about USD 4,450. Similarly, Japan also provides a purchase subsidy of about USD 19,740 for fuel cell vehicles. Additionally, countries such as China, Japan, South Korea, and the US are also focusing on developing hydrogen infrastructure. Such initiatives will increase the popularity and adoption of fuel cell vehicles, which will subsequently drive the growth of the fuel cells market for the automotive industry.
The leading manufactures mainly are Toyota, Honda, Hyundai, Ballard and Nedstack. Toyota is the largest manufacturer; its revenue of global market exceeds 78% in 2016, which main due to large sales of its fuel cell vehicle.
The report offers detailed coverage of Automotive Fuel Cells industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Automotive Fuel Cells by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
The report forecast global Automotive Fuel Cells market to grow to reach xxx Million USD in 2020 with a CAGR of xx% during the period 2021-2025.
First, this report covers the present status and the future prospects of the global Automotive Fuel Cells market for 2015-2025.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].
Key Companies
Toyota
Honda
Hyundai
Ballard
Nedstack
At the same time, we classify Automotive Fuel Cells according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.
Market Segment as follows:
Market by Order Type
Hydrogen Fuel Cell
Other Fuel Cell
Market by Application
Passenger Vehicle
Commercial Vehicle
By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Automotive Fuel Cells market for the forecast period 2021 - 2025?
• What are the driving forces in the Automotive Fuel Cells market for the forecast period 2021 - 2025?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Automotive Fuel Cells industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?