DUBLIN--(BUSINESS WIRE)--The "Automotive Fuel Cell Market by Components (Fuel Stack, Fuel Processor, Power Conditioner), Electrolyte Type (PEMFC, PAFC), Power Output, Vehicle Type (PC, LCV, Bus, Truck), H2 Fuel Station, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The autmotive fuel cell market is estimated to be 7,785 units in 2018 and is projected to grow at a CAGR of 65.86% during the forecast period (2018-2025), to reach a market size of 268,786 units by 2025.
The key growth drivers for the market are higher fuel efficiency, longer driving range, and fast refueling of fuel cell; stringent emission norms; increasing government initiatives and investment for the development of fuel cell technology; and the increasing use of fuel cell in transportation sector.
To reduce greenhouse gas emissions, governments in various countries are taking initiatives to create clean energy sources. Governments are increasingly investing in alternative sources of energy such as fuel cells. Fuel cell vehicles emit no greenhouse gases (GHG) and pollutants. Thus, they can positively impact the environment. This will boost the demand for fuel cell technology in the automotive industry. Governments are taking initiatives, making investments, and promoting the use of fuel cells.
Along with the development of fuel cell technology, it is important to create a robust infrastructure that can cater to the needs of hydrogen-powered transportation. Therefore, governments are increasingly investing in the development of required hydrogen infrastructure, providing an opportunity for the automotive fuel cell market to grow in the future. In FCEVs, fuel cells are installed inside the vehicle and hydrogen gas is stored under pressure. If a spark of electricity comes in contact with the hydrogen, it could catch fire. This is a major restraint for the growth of the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Fuel Cell Market, Future Trends & Scenario
7 Technology Overview
8 Automotive Fuel Cell Market, By Electrolyte Type
9 Automotive Fuel Cell Market, By Component Type
10 Automotive Fuel Cell Market, By Power Output
11 Automotive Fuel Cell Market, By Hydrogen Fueling Station
12 Automotive Fuel Cell Market, By Vehicle Type
13 Automotive Fuel Cell Market, By Region
14 Competitive Landscape
15 Company Profiles
- Ballard Power Systems
- Ceres Power
- ITM Power
- Plug Power
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