Automotive Fuel Cell System Market Trends and Forecast by 2023 | BALLARD, CERAMIC FUEL CELLS, DELPHI, DOOSAN FUEL CELLS, HYDROGENICS, NEDSTACK

Market Analysis:

Asia-Pacific registered high Growth
Asia-Pacific registered the highest market share, followed closely by Europe and North America. Higher adoption in Asia-Pacific, stringent EPA and CAFu00c9 standards and high energy efficiency requirements serve as major drivers for the fuel cell market growth.

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Eight of the world’s largest automobile manufacturers have plans to commercialize Fuel Cell Vehicles (FCVs) by 2025. Hydrogen market, a segment of fuel cell market, has great potential as compared to biogas, natural gas, methanol, and hydrocarbons. The automotive fuel cell market is in the midst of a revolutionary development that reduces the cost of infrastructure and other resources. The low density of fuel compared to gasoline, and the fact that fuel cell equipped vehicles are not completely green like pure electric vehicles are a few restraining factors for the automotive fuel cell market.

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Market Segments:
Automotive Fuel Cell System Market is segmented by:
1. Electrolyte Type: Polymer Electronic Membrane Fuel Cell, Direct Methanol Fuel Cell, Alkaline Fuel Cell, Phosphoric Acid Fuel Cell
2. Vehicle Type: Commercial Vehicles, Passenger Cars, Others
3. Operating Temperature Type: Molten Carbonate Fuel Cell, Solid Ioxide Fuel Cell
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market: Volkswagen emissions scandal, China has made efforts to promote fuel cell technology in automobiles. In 2015, it initiated an agenda to produce 333 fuel cell based buses and cars in the country to cut down on the conventional fuel emissions. China’s 13th five-year plan is going to have a great impact on fuel cells as it focuses on clean energy and technology.

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