Fuel Cell Powertrain Market Detail Analysis focusing on Key Players like AVID Technology Limited, Ballard Power Systems Inc, Ceres Power, Cummins

Fuel cells are devices that generates energy by the chemical reaction within it, which is likely to witness notable growth in the coming years. This is due to the competitive advantages of the fuel cell such as eco-friendliness, enhanced efficiency, and longer life span compared to others. Cumulative applications of fuel cells in the transport sector for example in cars and buses is anticipated in the coming years.

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Companies Profiled in this report includes:  AVID Technology Limited, Ballard Power Systems Inc, Ceres Power, Cummins Inc., Delphi Technologies, DENSO Corporation, FEV, ITM Power manufactures, NUVERA FUEL CELLS, LLC, Robert Bosch GmbH

MARKET SEGMENTATION

  The global fuel cell powertrain market is segmented on the basis of component, drive type, vehicle type, and power output.

  On the basis of component, the market is segmented as fuel cell system, battery system, drive system, hydrogen storage system, others.

  Based on drive type the market is segmented as rear-wheel drive (RWD), front-wheel Drive (FWD), All-Wheel Drive (AWD).

  Based on vehicle type the market is segmented as Passenger Cars, Light Commercial Vehicle (LCV), Buses, and Trucks.

  Based on power output the market is segmented as less than 150 kW, 150-250 kW, more than 250kw.

MARKET DYNAMICS

Drivers:

  High energy density and quick refueling of fuel cell powertrain is one of the major factors driving the growth of the fuel cell powertrain market.

  Low-weight alternative for heavy-duty trucks and government initiatives for hydrogen infrastructure is anticipate to boost the growth of the fuel cell powertrain market.

Restraints

  High demand for low cost plug in hybrid and battery electric vehicles..

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IMPACT OF COVID-19 ON FUEL CELL POWERTRAIN MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.