Global Fuel Cell Market in the Automotive Industry 2015-2019

Market outlook of the global fuel cell market in the automotive industry

A fuel cell consists of electrodes that convert chemical energy into electrical energy through an electromechanical reaction. This market is expected to exhibit significant growth during the forecast period and is positively affected by the growing demand for fuel cells in sectors like material handling vehicles, light duty vehicles, buses, and aerospace. In terms of unit shipments, Technavio market research analysts estimate this market to post a profound CAGR of more than 45% by 2019.

Development of the hydrogen infrastructure is the key driver for the growth of this market. Since hydrogen is the primary fuel used in fuel cell electric vehicles (FCEVs), around 80 million tons of hydrogen is produced every year to meet the growing need for hydrogen fuel cells in FCEVs. In order to sustain the high growth of the global fuel cell market, huge investments are being made to scale up the hydrogen production capacity and also to develop clean and emission-free hydrogen production technologies.

Segmentation by type of vehicle and analysis of the fuel cell market in the automotive industry

• Light-duty vehicles
• Fuel cell buses
• Material handling

In this market research report, analysts estimate the light-duty vehicles segment to continue its dominance over the market during the forecast period. The growing demand for energy-efficient passenger cars is a significant factor that fosters growth in this segment during the forecast period and results in its impressive market share of more than 67% by 2019.

Geographical segmentation of the fuel cell market in the automotive industry

• APAC
• EMEA
• Americas

Geographically, the APAC region is envisaged to account for more than 68% of the total market share by 2019. Increasing investment in fuel cell devices and advances in technology are the two major factors that are expected to augment market growth in this region during the forecast period.

Competitive landscape and key vendors

The global fuel cell market in the automotive industry is highly competitive and is characterized by the presence of numerous SMEs and large players that intensely compete with each other to gain maximum prominence in this market. The introduction of new technologies and increasing investment in the market are the two significant factors that are expected to intensify the level of competition between vendors.

Key vendors in this market research are -

• Ballard Power Systems
• ACAL
• Nuvera Fuel Cells
• Plug Power
• Hydrogenics

Other prominent vendors analyzed in this market study are Watt Fuel Cell, Symbio FCell, ReliOn, Proton Motor, Oorja Protonics, Nuvera Fuel Cell, Novofuel, Intelligent Energy, Heliocentrics, H2 Logic, Elcore, DDI Energy, Danthem Power, Bosch Thermo-technology, Bing Energy, and AquaFairy.

Key questions answered in the report include

• What will the market size and the growth rate be in 2019?
• What are the key factors driving the global fuel cell market in the automotive industry?
• What are the key market trends impacting the growth of the global fuel cell market in the automotive industry?
• What are the challenges to market growth?
• Who are the key vendors in the global fuel cell market in the automotive industry?
• What are the market opportunities and threats faced by the vendors in the global fuel cell market in the automotive industry?
• Trending factors influencing the market shares of the EMEA, Americas, and APAC?
• What are the key outcomes of the five forces analysis of the global fuel cell market in the automotive industry?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Fuel Additives Market 2015-2019
• Global Fuel Cell Market 2015-2019