Automotive Fuel Cell Industry 2018 Global Market Size, Trends, Share, Growth, Forecast To 2023

Automotive Fuel Cell Market 2018 – Global Industry Forecast to 2023, is latest report on Global Automotive Fuel Cell Market Size, Trends, Share, Growth, And Regional Outlook To 2023. Automotive Fuel Cell Market Research Report by Electrolyte Type (PEMFC, PAFC), by Components (Fuel Processor, Power Conditioner and Fuel Stack), by Power Output (200KW), Fuel Type (Hydrogen, Methanol), Vehicle Type Forecast to 2023.

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The key players in automotive fuel cell market are Ballard Power Systems Inc. (Canada), ITM Power (U.K.), Hydrogenics (Canada), Plug Power (U.S.), Automotive Fuel Cell Cooperation (Canada), and Ceramic Fuel Cells Ltd (Australia). Delphi Technologies (U.K.), Doosan Fuel Cell America (U.S.), Nedstack (The Netherlands) and Plug Power (U.S.) are among others.

Market Highlights:

The automotive fuel cell technology is an attractive proposition for automakers, which helps them manufacture high energy cells capable of powering the automobiles. The fuel cells use either hydrogen or methane as the primary energy provider. Both these elements are cleaner sources of fuel, as against the conventional lithium-ion battery cells, which cannot be recycled. The lithium-ion battery cells pose the problem of disposal, thus impacting the environment considerably.

Several factors aid the growth of the global automotive fuel cell market. Firstly, the automakers are making conscious decisions to reduce the carbon footprint to compensate the large automotive sales. Secondly, governments of developed nations are taking concrete steps to reduce the global warming by turning to cleaner and greener alternatives of fuel. Thirdly, the conventional cell technology poses a considerable threat for the physical wellbeing of the user, if not handled with care. The global automotive fuel cell market is expected to grow with a CAGR of approx. 15% (2017 to 2023).

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to drive sales of the global automotive fuel cell market, making it a continually growing market. The governments of countries such as China, Japan and Hong Kong are encouraging the use of renewable energies backed with favorable policies to restrict the ill effects of global warming. North America region is taking steps to reduce the carbon footprint due to a large number of vehicles plying on the roads. The high demand for passenger vehicles and heavy commercial vehicles increases the demand for the fuel cell as a greener alternative to the traditional cells.

The report for Global Automotive Fuel Cell Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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