DUBLIN--(BUSINESS WIRE)--The "Automotive Fuel Cell Market by Component (Fuel Processor, Fuel Stack, Power Conditioner, Air Compressor, Humidifier), Power Output (<150kW, 150- 250kW, >250kW), H2 Fuel Station, Vehicle Type (PC, LCV, Truck, Bus), and Region - Global Forecast 2028" report has been added to ResearchAndMarkets.com's offering.

Government initiatives in R&D of hydrogen infrastructure and fuel cell cost reduction are likely to propel the automotive fuel cell market

Due to the changing global climate and increasing global warming, governments are taking initiatives to create clean energy sources. Governments are increasingly investing in alternative sources of energy such as fuel cells. As fuel cells emit no greenhouse gases (GHG) and pollutants, they can impact the environment positively. Thus, governments are taking initiatives, making investments, and promoting the use of fuel cells. Along with the development of fuel cell technology, it is important to create a robust infrastructure that can cater to the needs of hydrogen-powered transportation. Therefore, governments are increasingly investing in the development of required hydrogen infrastructure, providing an opportunity for the automotive fuel cell market to grow in the future.

The >250 KW is projected to be the fastest-growing segment of the automotive fuel cell market, by power output, in terms of volume, during the forecast period

Typical fuel cell heavy-duty buses and trucks need a fuel cell with more than 250 kW power output. Fuel cell buses are considered to be the most suitable mode of transportation for the introduction of fuel cell technology in automotive applications. For transportation within a limited area, less investment is needed in building the required hydrogen infrastructure. Several governments across the globe are taking initiatives for developing public and private fuel cell vehicle transport. Various investments have been made in the development and production of fuel cell buses. The adoption of fuel cell technology in the truck segment is still in the development stage. However, owing to the advantages of high efficiency and low cost of transportation for long-distance, the fuel cell truck market is projected to grow at a significant growth rate. Therefore, the automotive fuel cell market for >250 kW is estimated to be the fastest.

The truck segment is the second-fastest-growing segment of the automotive fuel cell market.

Currently, there are few fuel cell truck models available in the automotive market. However, the rapid development of fuel cell technology will boost the fuel cell truck market. Fuel cell vehicles are more efficient and cost-effective for long-range transportation. Hence, using fuel cell trucks for goods carriage will result in better emission control and cost-effectiveness. Moreover, FCEVs are more cost-effective than other electric vehicles for long-range transportation. Nikola is expected to launch its fuel cell truck model by 2021. The company announced that the truck would have the highest driving range and a fuel stack with the largest power output as compared to models available in the current market. Anheuser-Busch, a brewery company in the US, ordered 800 fuel cell trucks from Nikola in 2018, and the order will start delivering as soon as the product is available in the market.

Europe is projected to have the highest growth rate in the automotive fuel cell market

The EU2020 focuses on increasing the demand for fuel cells by improving the infrastructure and decreasing the cost of fuel cells. Even though European companies lag behind their Asian counterparts in fuel cell technology development and patents, Europe is slowly shifting its focus on renewable sources of energy. Germany represents around 75% of all European demonstration activities due to the presence of a number of small and large companies such as Siemens Westinghouse, Proton Power Systems PLC, Heliocentris, and SFC Energy. As governments are shifting their fleet of buses from ICE vehicles to zero-emission vehicles, it would create massive opportunities for growth of the fuel cell bus segment in the region. Besides buses, countries like Norway and Switzerland will be key markets for fuel cell trucks.

Key Topics Covered:

1 Introduction

1.1 Objectives of the Study

1.2 Product Definition

1.3 Market Scope

1.4 Package Size

1.5 Limitations

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Secondary Data

2.3 Primary Data

2.4 Market Size Estimation

2.5 Market Breakdown

2.6 Assumptions

2.7 Risk Assessment & Ranges

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Automotive Fuel Cell Market

4.2 Automotive Fuel Cell Market, By Country

4.3 Asia Oceania Automotive Fuel Cell Market, By Vehicle Type & Country

4.4 Automotive Fuel Cell Market, By H2 Fuel Station

4.5 Automotive Fuel Cell Market, By Power Output

4.6 Automotive Fuel Cell Market, By Component

5 Market Overview

5.1 Introduction

5.2 Policies & Initiatives Supporting Hydrogen-Powered Vehicles & Hydrogen Infrastructure

5.3 Existing and Upcoming FCEV Models

5.4 Market Dynamics

5.5 Automotive Fuel Cell Market, Scenarios (2020-2028)

6 Industry Trends

6.1 Technology Overview

6.2 Fuel Cell Pricing Analysis

6.3 Value Chain Analysis

6.4 Porter's 5 Forces Model

7 Automotive Fuel Cell Market, By Component

7.1 Introduction

7.2 Research Methodology

7.3 Fuel Stack

7.4 Fuel Processor

7.5 Power Conditioner

7.6 Air Compressor

7.7 Humidifier

7.8 Key Industry Insights

8 Automotive Fuel Cell Market, By Power Output

8.1 Introduction

8.2 Research Methodology

8.3 <150 kW

8.4 150-250 kW

8.5 >250 kW

8.6 Key Industry Insights

9 Automotive Fuel Cell Market, By Vehicle Type

9.1 Introduction

9.2 Research Methodology

9.3 Passenger Car

9.4 LCV

9.5 Bus

9.6 Truck

9.7 Key Industry Insights

10 Automotive Fuel Cell Market, By H2 Fuel Station

10.1 Introduction

10.2 Research Methodology

10.3 Asia Oceania

10.4 Europe

10.5 North America

10.6 Key Industry Insights

11 Automotive Fuel Cell Market, By Specialized Vehicle Type

12 Automotive Fuel Cell Market, By Region

13 Competitive Landscape

14 Automotive Fuel Cell Ecosystem: Fuel Cell System/Parts/Material Suppliers

15 Company Profile

15.1 Ballard Power Systems

15.2 Hydrogenics

15.3 ITM Power

15.4 Plug Power

15.5 Nuvera Fuel Cells

15.6 Ceres Power

15.7 Nedstack

15.8 Doosan Corporation

15.9 Delphi Technologies

15.10 Proton Power Systems PLC

15.11 Other Key Players

15.11.1 Asia Oceania Hyundai Kefico Corporation Panasonic Toray Industries Sunrise Power Co., LTD.

15.11.2 Europe Intelligent Energy Bosch Powercell Symbio Elringklinger AG Swiss Hydrogen Power

15.11.3 North America Dana Incorporated Fuel Cell System Manufacturing LLC

15.12 Other Key OEMs

15.12.1 Toyota

15.12.2 Honda

15.12.3 Hyundai

15.12.4 Audi

15.12.5 Daimler

15.12.6 Riversimple

15.12.7 Nikola

15.12.8 Cummins

15.12.9 Saic Motor

15.12.10 Van Hool

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