Automotive Fuel Cell Market Cost Analysis, Revenue and Gross Margin Analysis

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The automotive fuel cell market is estimated to be 4,457 Units in 2017 and is projected to reach 268,786 Units by 2025, at a CAGR of 65.86% during the forecast period. The base year for the study is 2017 and the forecast period is 2018–2025. The market is primarily driven by the benefits offered by fuel cell vehicles, such as better fuel efficiency and increased driving range, fast refueling, reduced oil dependency, and no greenhouse gas and air pollutants emission. Rising demand for fuel cell vehicles in automotive and transportation sectors and government initiatives toward building hydrogen infrastructure will further boost the automotive fuel cell market.
Research Methodology
This research study involves the use of secondary sources such as company annual reports/presentations, industry association publications, automotive magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases such as Hoover’s, Bloomberg Businessweek, and Factiva to identify and collect information for an extensive commercial study of the automotive fuel cell market. The primary sources comprise industry experts, engineers, product managers, R&D managers, automobile OEMs, fuel cell manufacturers, and sales managers. In-depth interviews have been conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), technical experts, fuel cell experts of major market players, and industry consultants to obtain and verify critical qualitative and quantitative information as well as to assess prospects. The following figure illustrates the market research methodology applied to build this report on the automotive fuel cell market.
To know about the assumptions considered for the study, download the pdf brochure
Key Players
The ecosystem of the fuel cell market consists of fuel cell manufacturers such as Ballard Power Systems (Canada), ITM Power (UK), Hydrogenics (Canada), Plug Power (US), and AFCC (Canada). The OEMs considered include Toyota (Japan), Honda (Japan), Hyundai (South Korea), Daimler (Germany), and Nissan (Japan).
Target Audience of Automotive Fuel Cell Market
  • Automoitve fuel cell manufacturers and component suppliers
  • Fuel stack component manufacturers
  • Power conditioner component manufacturers
  • Automotive OEMs
  • Industry associations and other electric vehicle manufacturers
  • The automobile industry and related end-user industries
Automotive Fuel Cell Market Dynamics
Drivers
  • Better fuel efficiency and increased driving range
  • Fast refueling
  • Reduced oil dependency
  • Less greenhouse gas and air pollutant emissions
Opportunities
  • Rising demand for fuel cell vehicles in the automotive & transportation sectors
  • Government initiatives promoting hydrogen infrastructure
Challenges
  • High vehicle costs
  • Insufficient hydrogen infrastructure
  • Rising demand for BEVs and HEVs
Asia Pacific is projected to be the fastest growing regional market for automotive fuel cell
Asia Pacific represents the biggest market for green technologies in the world. The governments are setting renewable energy targets, backed by favorable policies such as the Kyoto Protocol. Currently, the largest markets for fuel cells in Asia Pacific are Japan and South Korea. This has been the dominant region for fuel cell adoption since 2009 due to the commercial deployment of Japanese fuel cell micro-CHP products. Japan, the first nation to commercialize fuel cells, is supporting a project on residential and automotive applications. Asia Pacific is projected to be the largest market for Automotive fuel cell by 2025 due to the high acceptance of electric vehicles, increasing hydrogen infrastructure, and commercialization of fuel cells in the countries in this region.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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Source:Automotive Fuel Cell Market worth 268,786 Units by 2025
Location: United States

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