Lucintel Blog: Lucintel Forecasts Automotive Fuel Cell Market to Grow at a CAGR of 26.3% from 2026

Tuesday, June 8, 2021

Lucintel Forecasts Automotive Fuel Cell Market to Grow at a CAGR of 26.3% from 2026

According to the recent study the automotive fuel cell market is projected to grow at a CAGR of 26.3% from 2020 to 2026. Growth in this market is primarily driven by increasing demand for zero-emission vehicles and government subsidies as tax benefits to promote fuel cell vehicles and growing concerns for environmental pollution.

Browse 144 figures / charts and 131 tables in this 210 -page report to understand trends, opportunities and forecast in automotive fuel cell market by end use type (passenger car, light duty vehicle and heavy duty vehicle), component type (fuel processor, fuel stack, and power condition and others), power output type (<100 kW, 100–200 kW, and >200 kW), electrolyte type (PEMFC, and other), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link https://www.lucintel.com/downloadreportsample.aspx?RepId=RPT2501 and view detailed Table of Content here - https://www.lucintel.com/automotive-fuel-cell-market.aspx

“<100 kW market is expected to remain the largest segment during the forecast period.”

Based on power output type, the automotive fuel cell market is segmented into <100 kW, 100–200 kW, and >200 kW. Lucintel forecasts that the <100 kW market is expected to remain the largest segment due to growth in demand for fuel cell operated personal vehicles and material handling equipment that will not emit harmful gases.

“Within the automotive fuel cell market, the fuel stack segment is expected to remain the largest component type.”

Based on component type the fuel stack segment is expected to witness the highest growth over the forecast period due to the high price of raw material and lower volume of production.

“Asia pacific will dominate the automotive fuel cell market in near future.”

Asia Pacific will remain the largest region during the forecast period due to growing demand for low emission fuel options, increase in investment for fuel cell technology, and stringent government regulations in various countries pertaining to energy sustainability are among the major drivers of this market.

Download Brochure of this report by clicking on https://www.lucintel.com/automotive-fuel-cell-market.aspx

Major players of automotive fuel cell market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Ballard Power Systems, Cummins, Plug Power, PowerCell, and Horizon Fuel Cell are among the major automotive fuel cell providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-fuel-cell-market.aspx or helpdesk@lucintel.com.

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Lucintel
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