Automotive Fuel Cell Market: By Electrolyte Type, By Components Type, By Power Outputs Type, By Vehicle Type and Geography

download arrow download arrow Download Free Sample
settings arrow settings arrow email us

Automotive Fuel Cell Market Size, Share, Growth, Trends, and Global Industry Analysis: By Electrolyte Type (PEMFC, PAFC), By Components Type (Fuel Stack, Power Conditioner, Fuel Processor), By Power Outputs Type (<100 kW, 100-200 kW, >200 kW), By Vehicle Type (Trucks, Passengers Cars, Buses & Light Commercial Vehicle) and Region

checked icon arrow_drop_down
checked icon Single User License $4400
checked icon Multiple User License $6600
checked icon Corporate User License $8900

Automotive Fuel Cell Market size was valued at US$ 3,627.8 million in 2023 and is expected to grow US$ 12,044.8 billion by 2030,  at a CAGR of 18.7% from 2024 to 2030. The global market provides a detailed overview of the Market, which has been segmented by electrolyte type, components type, power outputs, and vehicle type. By electrolyte type, the market has been segmented into PEMFC and PAFC. The PEMFC segment is likely the most significant and fastest-growing segment regarding electrolyte type. By components type, the market has been segmented into Fuel Stack, Power Conditioner, and Fuel Processor. The Fuel Stack segment holds a significant revenue share in the market. By power outputs, <100 kW, 100-200 kW, >200 kW. The 100-200 kW segment holds the maximum revenue share of the market. Based on the vehicle type, the Automotive Fuel Cell is segmented into Trucks, Passengers Cars, Buses & Light Commercial vehicles. According to precision business insights, the Passengers Cars segment is predicted to register the fastest growth rate during the forecast period.  

Automotive Fuel Cell Market Key development

  • In November 2021, Ballard Power Systems received orders for a total of 40 FCmoveTM-HD (70kW) modules for planned deployment in hydrogen fuel cell electric buses across Europe in 2023. These FCEBs are being deployed in France, Germany, and the UK.

summary download arrow Download Free Sample

Automotive Fuel Cell Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

18.7%

Largest Market

Asia-Pacific

Fastest Growing Market

Europe

Automotive Fuel Cell Market Dynamics

The primary growth drivers for the market are high fuel efficiency compared to gasoline and diesel, a more extended driving range, quick recharging, rising government initiatives and investments for the development of fuel cell technology, and growing use of fuel cells in the transportation sector.

Automotive Fuel Cell Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 3,627.8 million

Market Size in 2030

US$ 12,044.8 billion

Market CAGR

18.7%

By Electrolyte Type

  • PEMFC,
  • PAFC

By Components Type

  • Fuel Stack,
  • Power Conditioner,
  • Fuel Processor

By Power Outputs Typ

  • <100 kW,
  • 100-200 kW,
  • >200 kW

By Vehicle Type

  • Trucks,
  • Passenger's Cars,
  • Buses & Light Commercial Vehicle

Key Features of the Report

  • The automotive fuel cell market report provides granular level information about the market size, regional market share, historic market (2019-2023) and forecast (2024-2030)
  • The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startups details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market.
 

Download Free Sample Report

I accept the Terms and Conditions,Disclaimers, GDPR Policy

Frequently Asked Questions

Automotive fuel cell market size was valued at US$ 3,627.8 million in 2023 and is expected to grow US$ 12,044.8 billion by 2030, growing at a CAGR of 18.7%.

The major players in the market are Ballard Power System (Canada), ITM Power (UK), Plug Power (US), Delphi Technologies (UK), Doosan Corporation (Japan), Hydrogenics (Canada) and Proton Power System PLC (UK).

The key segments covered in the Market are: by Electrolyte Type, Power Outputs Type, Vehicle Type, Geography

1. Executive Summary
2. Global Automotive Fuel Cell Market Introduction
2.1. Global Automotive Fuel Cell Market - Taxonomy
2.2. Global Automotive Fuel Cell Market -Definitions
2.2.1. By Electrolyte Type
2.2.2. By Components Type
2.2.3. By Power Outputs Type
2.2.4. By Vehicle Type
2.2.5. By Region
3. Global Automotive Fuel Cell Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Automotive Fuel Cell Market Dynamic Factors - Impact Analysis
3.6. Global Automotive Fuel Cell Market - Competition Landscape
4. Global Automotive Fuel Cell Market Analysis, 2019-2023 and Forecast, 2024-2030
4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Automotive Fuel Cell Market, By Electrolyte Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
5.1. PEMFC
5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. PAFC
5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
6. Global Automotive Fuel Cell Market, By Components Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
6.1. Fuel Stack
6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Power Conditioner
6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Fuel Processor
6.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
7. Global Automotive Fuel Cell Market, By Power Outputs Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
7.1. <100 kW
7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. 100-200 kW
7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. >200 kW
7.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
8. Global Automotive Fuel Cell Market, By Vehicle Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.1. Trucks
8.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Passengers Cars
8.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Buses & Light Commercial Vehicle
8.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
9. Global Automotive Fuel Cell Market Forecast, By Region, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Automotive Fuel Cell Market - Opportunity Analysis Index, By Electrolyte Type, Components Type, Power Outputs Type, Vehicle Type, and Region, 2024-2030
10. North America Automotive Fuel Cell Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
10.1. Electrolyte Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. PEMFC
10.1.2. PAFC
10.2. Components Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Fuel Stack
10.2.2. Power Conditioner
10.2.3.  Fuel Processor
10.3. Power Outputs Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. <100 kW
10.3.2. 100-200 kW
10.3.3.  >200 kW
10.4. Vehicle Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Trucks
10.4.2. Passenger Car
10.4.3.  Buses & Light Commercial Vehicles
10.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Automotive Fuel Cell Market - Opportunity Analysis Index, By Electrolyte Type, Components Type, Power Outputs Type, Vehicle Type, and Country, 2024-2030
10.7. North America Automotive Fuel Cell Market Dynamics - Trends
11. Europe Automotive Fuel Cell Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
11.1. Electrolyte Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. PEMFC
11.1.2. PAFC
11.2. Components Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Fuel Stack
11.2.2. Power Conditioner
11.2.3.  Fuel Processor
11.3. Power Outputs Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. <100 kW
11.3.2. 100-200 kW
11.3.3.  >200 kW
11.4. Vehicle Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Trucks
11.4.2. Passenger Car
11.4.3.  Buses & Light Commercial Vehicles
11.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Rest of Europe
11.6. Europe Automotive Fuel Cell Market - Opportunity Analysis Index, By Electrolyte Type, Components Type, Power Outputs Type, Vehicle Type, and Country, 2024-2030
11.7. Europe Automotive Fuel Cell Market Dynamics - Trends
12. Asia-Pacific Automotive Fuel Cell Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
12.1. Electrolyte Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. PEMFC
12.1.2. PAFC
12.2. Components Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Fuel Stack
12.2.2. Power Conditioner
12.2.3.  Fuel Processor
12.3. Power Outputs Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. <100 kW
12.3.2. 100-200 kW
12.3.3.  >200 kW
12.4. Vehicle Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Trucks
12.4.2. Passenger Car
12.4.3.  Buses & Light Commercial Vehicles
12.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. China
12.5.2. India
12.5.3. Japan
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Automotive Fuel Cell Market - Opportunity Analysis Index, By Electrolyte Type, Components Type, Power Outputs Type, Vehicle Type, and Country, 2024-2030
12.7. Asia-Pacific Automotive Fuel Cell Market Dynamics - Trends
13. Latin America Automotive Fuel Cell Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
13.1. Electrolyte Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. PEMFC
13.1.2. PAFC
13.2. Components Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Fuel Stack
13.2.2. Power Conditioner
13.2.3.  Fuel Processor
13.3. Power Outputs Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. <100 kW
13.3.2. 100-200 kW
13.3.3.  >200 kW
13.4. Vehicle Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Trucks
13.4.2. Passenger Car
13.4.3.  Buses & Light Commercial Vehicles
13.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Automotive Fuel Cell Market - Opportunity Analysis Index, By Electrolyte Type, Components Type, Power Outputs Type, Vehicle Type, and Country, 2024-2030
13.7. Latin America Automotive Fuel Cell Market Dynamics - Trends
14. Middle East and Africa Automotive Fuel Cell Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)
14.1. Electrolyte Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. PEMFC
14.1.2. PAFC
14.2. Components Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. Fuel Stack
14.2.2. Power Conditioner
14.2.3.  Fuel Processor
14.3. Power Outputs Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. <100 kW
14.3.2. 100-200 kW
14.3.3.  >200 kW
14.4. Vehicle Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Trucks
14.4.2. Passenger Car
14.4.3.  Buses & Light Commercial Vehicles
14.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. South Africa
14.5.3. Rest of MEA
14.6. MEA Automotive Fuel Cell Market - Opportunity Analysis Index, By Electrolyte Type, Components Type, Power Outputs Type, Vehicle Type, and Country, 2024-2030
14.7. MEA Automotive Fuel Cell Market Dynamics - Trends
15. Competition Landscape 
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Key Offerings, Key Developments, Strategies, and SWOT Analysis)
15.2.1. Ballard Power Systems
15.2.2. Hyundai Group
15.2.3. Hyster Yale
15.2.4.  Cummins
15.2.5. ITM Power
15.2.6. Hydrogenics
15.2.7. Plug Power
15.2.8. AFCC
15.2.9. BorgWarner Inc.
15.2.10. Toyota Motor Corporation
15.2.11. Nissan Motor Corporation
16. Research Methodology
17. Key Assumptions and Acronyms

Key Market Players

  • Ballard Power Systems
  • Hyundai Group
  • Hyster Yale
  • Cummins
  • ITM Power
  • Hydrogenics
  • Plug Power
  • AFCC
  • BorgWarner Inc.
  • Toyota Motor Corporation

Related Industry Reports

Forklift Market

In-Vehicle Infotainment Market

Integrated Marine Automation System Market

Ground Penetrating Radar Market