In a recently published report, Global Automotive Fuel Cell Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Automotive Fuel Cell Market products.
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It is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.
A fuel cell is an electrochemical cell that converts the chemical energy from a fuel into electricity through an electrochemical reaction of fuel with an oxidizing agent. Every fuel cell has two electrodes calledthe anode and cathode. The reactions that produce electricity take place at the electrodes.Every fuel cell also has an electrolyte, which carries electrically charged particles from one electrode to the other, and a catalyst, which speeds up the reactions at the electrodes.Hydrogen is the basic fuel andoxygen is typically used as the oxidizing agent, in fuel cells used for running vehicles i.e. in automotive fuel cells. They are different from batteries as they require continuous source of fuel and oxygen to sustain the chemical reaction, while batteries get chemical energy from the energy stored in them. Fuel cell run vehicles are efficient and emission-free, much like their battery-operated counterparts.
End-user/Technology
Automobile manufacturers are the target customers for the automotive fuel cell industry. Traders, distributors and suppliers of automobile parts to the manufacturers also play an important role in the industry.
Market Dynamics and Opportunities
The global market for automotive fuel cell is estimatedto grow at a promising rate of about13% due to the increasing production of fuel cell vehicles (FCVs)as a result of pollution awareness and pollution control measures taking place across the globe. There is an increasing inclination towards fuel cell electric vehicles (FCEVs)running on hydrogen and this alsocontributes to the rising demand in the fuel cell market.
Market Segmentation
The market is segmented in terms of the type of fuel cell and the type of application.The most common type of fuel cell for vehicle applications is the polymer electrolyte membrane (PEM) fuel cell. According to the type of application, the fuel cell market is classified into light-duty vehicles and materials handling.Materials handling vehicles sector is likely to be the most appealing segment, and is expected to grow at a CAGR of 14.5% over the next few years.
Regional/Geographic Analysis
The global automotive fuel cell market is dominated by Asia Pacific and it is anticipated to continue itsdominance. The Asia-Pacific fuel cell market is expected to grow at a CAGR of about 12% and will capture 60% of the overall fuel cell market. Europe stands at number twoand is projected to grow at a CAGR of 14.5%. Due to the constant support and funding for commercialization of fuel cell technology by the US Department of Energy (DOE), the fuel cell market is growing considerably in US too.
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Key Players
Some of the major players operating in the global automotive fuel cellmarket include: ACAL, Hydrogenics, Plug Power, Nuvera Fuel Cells, Ballard Power Systems, Watt Fuel Cell, Heliocentrics, Elcore, H2 Logic, Danthem Power, Toshiba, Bing Energy and Bosch Thermo-technology.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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