What's driving the Automotive Fuel Cell Market Growth? Top Players: Nuvera Fuel Cells, LLC, Nedstack Fuel Cell Technology, Hydrogenics, Valmet Automotive, Intelligent Energy, Umicore, Hyundai Motor Company, Ballard Power Systems, Pragma Industries, AVL

The global automotive fuel cell market size is anticipated to witness a high growth rate in the forecast period on account of the increasing awareness about harmful greenhouse gas emissions from automobiles. The major growth trajectory of this market is described in details in a report by Fortune Business Insights(TM) titled, "Automotive Fuel Cell Market Size, Share & Industry Analysis, By Type (Proton Exchange Membrane Fuel Cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Others), By Power Rating (Below 100 kW, 100 - 200 kW, Above 200 kW), By Vehicles (Passenger Vehicles, Light Commercial Vehicles (LCVs), Bus, Trucks), and Regional Forecast, 2019-2026"

The global automotive fuel cell market is prognosticated to reach USD 17.24 billion by the end of 2026 from USD 0.46 billion in 2018. With CAGR of 59.7% during the forecast period.

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The report highlights -

A comprehensive overview of the automotive fuel cell market, primarily focusing on growth drivers, restraints, challenges, and opportunities.
Detailed market segments with leading segments and prospects.

Industrial developments, interesting insights, and future opportunities in the market.

List of players functioning in the market and key strategies adopted by them for maintaining their position in the market competition.

Other automotive fuel cell market trends.

Rise in Demand for Alternative Fuel to Drive Market

Key factors promoting the automotive fuel cell market growth include better fuel efficiency, a decline in fossil fuel dependency, quick refilling, no greenhouse gas emission in the atmosphere. Besides this, the rise in demand for incorporating alternative fuel cells in automobiles for keeping a check on the environment is likely to help attract high automotive fuel cell market revenue in the forthcoming years. Various countries are adopting the implementation of new policies for promoting hydrogen-based automotive vehicles and this is further anticipated to increase the market shares in the coming years.

On the other hand, the rise in research and development activities for the introduction of efficient fuel cell systems is anticipated to attract high automotive fuel cell market share in the future.

Collaborative Efforts of Companies to Set New Market Standards

Automotive fuel cells market manufacturers are emphasizing on the introduction of pioneering solutions and products that can be applied for all light, medium and heavy-duty vehicles. They are also focusing on cutting down the manufacturing costs of such vehicles so that it can attract high automotive fuel cells market revenues in the forecast period.

Some of the latest industry developments in the global market include:

December 2018 - Hyundai Motor Group revealed their "FCEV Vision 2030' vision wherein they want to step out of the transportation sector and expand their reach towards hydrogen technology. Under this, Hyundai is making efforts to increase its production of fuel cell systems to about 700,000 on an annual basis till 2030.

September 2018 - Six heavy-duty fuel cell power modules were announced to be supplied to TransPower and GTI by Hydrogenics Corporation. These power modules will be supplied for the Class 8 Navistar DRAYAGE set of trucks to be deployed in Southern California, annually.

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Some of the key automotive fuel cell market manufacturers include:

Horizon Fuel Cell Technologies
Nuvera Fuel Cells, LLC
Nedstack Fuel Cell Technology
Hydrogenics
Valmet Automotive
Intelligent Energy
Umicore
Hyundai Motor Company
Ballard Power Systems
Pragma Industries
AVL
Air Liquide
ElringKlinger
Plug Power
PowerCell Sweden AB
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Reduction in Greenhouse Gas Emission Rates to Help Asia Pacific Emerge Dominant

Geographically, the market is dominated by Asia Pacific on account of the exponential rise in the deployment of FCEVs. In 2018, Asia Pacific automotive fuel cell market size was USD 0.22 billion. Other factors such as the positive results in greenhouse gas (GHG) reduction targets and substantial development of hydrogen infrastructure are further prognosticated to help the region expand in the long run.

Market Segmentation -

1. By Product
Vertical Machining Center
Vertical Machining Center with size less than 500 mm
Vertical Machining Center with size greater than or equal to 500 mm
Horizontal Machining Center
Horizontal Machining Center with size less than 500 mm
Horizontal Machining Center with size greater than or equal to 500 mm
Others (Universal, Double Column)

2. By Application

Automotive
General Machinery
Precision Engineering
Transport Machinery
Others (Energy, Electrical, etc.)

3. By Region
North America (U.S. and Canada)
Europe (Germany, UK, Russia, Italy, and Rest of Europe)
Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)

Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Latin America (Brazil, Mexico, and Rest of Latin America)

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Detailed Table of Content -

1.Introduction
1.1.Definition, By Segment
1.2.Research Approach
1.3.Sources
2.Executive Summary
3.Market Dynamics
3.1.Drivers, Restraints and Opportunities
3.2.Emerging Trends
4.Key Insights
4.1.Macro and Micro Economic Indicators
4.2.Key Technological Developments
4.3.Consolidated SWOT Analysis of Key Players
5.Global Machining Centers Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2.Market Sizing Estimations and Forecasts - By Product (Value)
5.2.1.Vertical Machining Center
5.2.1.1.Vertical Machining Center with size less than 500 mm
5.2.1.2.Vertical Machining Center with size greater than or equal to 500 mm
5.2.2.Horizontal Machining Center
5.2.2.1.Horizontal Machining Center with size less than 500 mm
5.2.2.2.Horizontal Machining Center with size greater than or equal to 500 mm
5.2.3.Others (Universal, Double Column)
5.3.Market Sizing Estimations and Forecasts - By Application (Value)
5.3.1.Automotive
5.3.2.General Machinery
5.3.3.Precision engineering
5.3.4.Transport Machinery
5.3.5.Others
5.4.Market Analysis, Insights and Forecast - By Region (Value)
5.4.1.North America
5.4.2.Europe
5.4.3.Asia Pacific
5.4.4.Middle East & Africa
5.4.5.Latin America
6.North America Machining Centers Market Analysis, Insights and Forecast, 2015-2026
6.1.Key Findings / Summary
6.2.Market Sizing Estimations and Forecasts - By Product (Value)
6.2.1.Vertical Machining Center
6.2.1.1.Vertical Machining Center with size less than 500 mm
6.2.1.2.Vertical Machining Center with size greater than or equal to 500 mm
6.2.2.Horizontal Machining Center
6.2.2.1.Horizontal Machining Center with size less than 500 mm
6.2.2.2.Horizontal Machining Center with size greater than or equal to 500 mm
6.2.3.Others (Universal, Double Column)
6.3.Market Sizing Estimations and Forecasts - By Application (Value)
6.3.1.Automotive
6.3.2.General Machinery
6.3.3.Precision engineering
6.3.4.Transport Machinery
6.3.5.Others
6.4.Market Analysis, Insights and Forecast - By Country (Value)
6.4.1.United States
6.4.2.Canada

TOC Continued...!!

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