Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for auto industry professionals · Thursday, March 28, 2024 · 699,457,168 Articles · 3+ Million Readers

Automotive Fuel Cell Market Growing at a Rapid Pace by 2028 | Trends and Future Forecasting

Automotive Fuel Cell Market

Automotive Fuel Cell Market

Global demand for the Automotive Fuel Cell market was valued over 3.1 Thousand Units in 2019 and is expected to reach a CAGR of 69% between 2019 and 2028.

Global demand for the Automotive Fuel Cell market was valued over 3.1 Thousand Units in 2019 and is expected to reach a CAGR of 69% between 2019 and 2028. ”
— Prakash Torase

SUITE N202, NEW YORK, UNITED STATES, December 7, 2022 /EINPresswire.com/ -- Zion Market Research has published a new report titled “Global Automotive Fuel Cell Market – By Component (Fuel Processor, Fuel Stack, Power Conditioner, Air Compressor, and Humidifier), By Power Output (<150kW, 150 – 250kW, and >250kW), By H2 Fuel Station (Asia, Europe, and North America), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Truck, and Bus), By Specialized Vehicle (Material Handling Vehicle and Auxiliary Power Unit for Refrigerated Truck), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2028.” According to the report, global demand for the Automotive Fuel Cell market was valued over 3.1 Thousand Units in 2019 and is expected to reach a CAGR of 69% between 2019 and 2028.

Request Free Sample @ https://www.zionmarketresearch.com/sample/automotive-fuel-cell-market

Key Drivers of Global Automotive Fuel Cell Market:

Rise in demand for vehicles is prompting continuous investments by automakers in research and development for the development of cost-effective, environment-friendly and low toxic products with a high life within the industry. Emerging markets for automobiles are witnessing an increase in vehicle production, which is turn is boosting the automotive fuel cell market across the globe.

Compliance with new emissions standards for passenger cars and commercial vehicles is majorly achieved by applying changes to the engine alone. Stringent norms on carbon emission of automotive enacted by regulatory bodies across the globe are also anticipated to boost the demand for automotive fuel cell, which in turn controls the emission of toxic gases from vehicles. This is likely to boost the global automotive fuel cell market.

Rising global environmental issues such climate change and poor air quality due high fossil fuel consumption propel the demand for clean energy source. Fuel cell generates zero emission and contributes to eliminate greenhouse gases, which is estimated to drive the automotive fuel cell market during the forecast period.

Global Automotive Fuel Cell Market

Fuel stack category is projected to dominate the Automotive Fuel Cell market during the forecast period

Fuel stack accounts for the largest market share of the global Automotive Fuel Cell market owing to increasing adoption of fuel stack for reducing the overall expenditure. The mass production of fuel stack will help reduce the cost of a single fuel stack owing to the extensive R&D activities fuel cell technology field. Thus, the fuel stack production will, in turn, help escalate the growth of the global Automotive Fuel Cell market.

Request For Brochure @ https://www.zionmarketresearch.com/requestbrochure/automotive-fuel-cell-market

Passenger car category is estimated to hold the highest market share during the forecast period

The dominance of the passenger car category is attributed to the increase in demand for private mobility and high per capita income in the developing markets. Additionally, the plan of many countries to transform taxi fleets to fuel cell-based automotive will supplement the global Automotive Fuel Cell market growth.

Asia is estimated to be the largest market for automotive fuel cells during the forecast period, followed by Europe and North America.

The growing vehicle production and increasing demand for fuel cell buses for public transportation in Asia are expected to drive the Asia Automotive Fuel Cell market. In addition, the advancement in fuel cell-based technologies in regions such as Japan, China, and South Korea will, successively, propel the Automotive Fuel Cell market growth. Moreover, increasing investments in the production and fuel cell vehicle industries are anticipated to increase the sales of automotive fuel cells during the forecast period.

Key Market Players

Some major players of the Automotive Fuel Cell market include ITM Power, Hydrogenic, Plug Power, Ballard Power Systems, Delphi Technologies, Doosan Corporation, and Proton Power System PLC, among others.

Inquire more about this report @ https://www.zionmarketresearch.com/inquiry/automotive-fuel-cell-market

The report on global Automotive Fuel Cell market is segmented into:

Global Automotive Fuel Cell Market: By Component Segmentation Analysis

Fuel Processor
Fuel Stack
Power Conditioner
Air Compressor
Humidifier
Global Automotive Fuel Cell Market: By Power Output Segmentation Analysis

<150 kW
150–250 kW
>250 kW
Global Automotive Fuel Cell Market: By H2 Fuel Station Segmentation Analysis

Asia
Europe
North America
Global Automotive Fuel Cell Market: By Specialized Vehicle Segmentation Analysis

Material handling vehicle
Auxiliary power unit for refrigerated truck
Global Automotive Fuel Cell Market: By Vehicle Type Segmentation Analysis

Passenger car
Bus
Light commercial vehicle (LCV)
Truck
Global Automotive Fuel Cell Market: By Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

Related Press Release @ https://www.zionmarketresearch.com/news/automotive-fuel-cell-market

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Read our other Trending Report:

Mobility as a Service Market-https://www.openpr.com/news/2788085/mobility-as-a-service-market-report-2022-industry-analysis

Automotive Wiring Harness Market-https://www.zionmarketresearch.com/report/automotive-wiring-harness-market

Ride Sharing Market-https://www.openpr.com/news/2788349/ride-sharing-market-assessment-and-forecast-2031

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com

Prakash Torase
zion market research
+ + +1 855-465-4651
prakash.t@marketresearchstore.com

Powered by EIN Presswire
Distribution channels: Automotive Industry


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release