Automotive Fuel Cell Market worth 932.6 thousand units by 2028
                     MarketsandMarkets 
Presents
Automotive Fuel Cell Market worth 
932.6 thousand units by 2028
https://
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market-14859789.html
 
The report "Automotive Fuel Cell Market by Component (Fuel 
Processor, Fuel Stack, Power Conditioner, Air Compressor, 
Humidifier), Power Output (250kW), H2 
Fuel Station, Vehicle Type (PC, LCV, Truck, Bus), and Region - 
Global Forecast 2028", is estimated to be USD 13.6 thousand units in 
2020 and projected to reach 932.6 thousand units by 2028, at a CAGR of 
69.7%. 
The market is driven by fuel cell advantages such as better fuel efficiency 
than ICE vehicles, longer driving range than other electric vehicles, fast 
refueling time, zero greenhouse gas emissions, and government 
initiatives pertaining to hydrogen infrastructure.
Browse 164 market data Tables and 64 Figures spread 
through 289 Pages and in-depth TOC on "Automotive Fuel Cell 
Market”
Fuel Stack is projected to be the largest segment of the 
automotive fuel cell market, by component
The fuel cell stack is an essential component of the fuel cell system. To 
generate more power and electricity, individual fuel cells are stacked. 
This assembly is called a fuel cell stack. Fuel stack is the most expensive 
component of a fuel cell system. The size of the stack defines the power 
output of the fuel cell. 
The number of fuel cell stacks can be increased to generate more power 
and electricity. As the stack size increases, the cost per unit power 
generated decreases. Hence, fuel cells are efficient for long-range 
transportation.
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Passenger car segment to be largest in the automotive fuel cell 
market, by vehicle type
The rising demand for personal mobility and increasing per capita 
income are driving the sale of passenger cars. There are several fuel cell 
passenger car models available in the market. Due to the high demand 
for passenger cars, large passenger car production capabilities, stringent 
emission norms, comparatively lower fuel cell production costs, and 
increasing investments by leading fuel cell manufacturers such as 
Ballard Power Systems, the passenger car segment of the automotive 
fuel cell market, by vehicle type, is projected to lead the market. 
Realizing the huge potential of fuel cell passenger cars, many companies 
are planning to launch their models in the coming years. For instance, 
BMW is planning to introduce the fuel cell technology developed 
together with Toyota in the BMW X6 and X7 in the coming years. 
Europe is projected to be the fastest growing automotive fuel cell 
market
The European automotive fuel cell market is driven by government support 
and funding. Europe has set a very ambitious goal of reducing 80% CO2 
emissions by 2050 and created a roadmap for the same. Under this, the 
FCHJU was established in 2008 and was carried out until 2013 as the first 
public-private partnership under the European Strategic Energy Technology 
Plan (SET-Plan). Its objective was to accelerate the development of fuel cells 
and hydrogen technologies in Europe to enable their commercialization. The 
continuation and further strengthening of the program have been proposed 
under Horizon 2020, the new innovation investment package for 2014 to 
2020. The Joint Initiative for Hydrogen Vehicles across Europe (JIVE) was 
started in 2017 to deliver 139 fuel cell buses and hydrogen refuelling 
infrastructure across five countries. A year later, the next phase of the 
initiative (JIVE 2) was launched alongside the original six-year program. 
Combined, the JIVE and JIVE 2 programs plan to deploy nearly 300 fuel cell 
buses in 22 cities across Europe.
The key players in the market include Ballard Power Systems, Plug Power, 
Delphi Technologies, Doosan Corporation, Proton Power Systems PLC, and 
Hydrogenics, and among others. These companies have followed supply 
contracts/agreements/partnerships/collaborations/joint ventures key 
strategies to gain traction in the automotive fuel cell market.
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Critical Questions:
• How will electric vehicle trends impact the automotive fuel cell market 
in the long term?
• How will government regulations impact the automotive fuel cell 
market?
What are the upcoming trends in the fuel cell market? What impact 
would they make post 2025?
• What are the key strategies adopted by leading market players to 
increase their revenue?
• Which regions and countries are expected to be the key markets for 
automotive fuel cells over the next decade?
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