Global Fuel Cell Powertrain Market - 2023-2030
Market Overview
The global fuel cell powertrain market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 48.5% during the forecast period (2023-2030).
A fuel cell powertrain is an electrically propelled vehicle that converts hydrogen energy into electricity using a fuel cell. Compared to internal combustion engine powertrains, fuel cell powertrains are more efficient and ecologically beneficial because they don't emit harmful emissions. In a fuel cell powertrain, an electrically powered system, hydrogen-based energy is converted into electricity using a fuel cell. A few fuel cell applications include transportation, emergency backup power and material handling.
Market Dynamics
Increasing environmental consciousness
In order to reduce GHG emissions, several low-polluting vehicles and fuels have been introduced to improve environmental conditions. The respective vehicle technologies include battery-powered electric vehicles, hybrid electric vehicles, fuel cell vehicles, compression ignition (CI) or park-ignition (SI) engines and advanced internal combustion engines (ICE). The fuel cell vehicles that use hydrogen offer lower emissions than other alternatives. The increase in research & development activities to make hydrogen-powered vehicles safe, eco-friendly and affordable is anticipated to propel the global fuel cell powertrain market in recent years. The low-emission capability of hydrogen-powered powertrains is expected to drive the global fuel cell powertrain market during the forecast period.
Complications associated with hydrogen fuel cells
In FCEVs, fuel is installed inside the vehicle and hydrogen gas is stored under pressure. If even a spark of electricity comes in contact with the hydrogen, it could catch fire. A fuel cell, through electricity, is produced without combustion, which decreases the chances of a vehicle catching fire. Several electronic and electrical components in the vehicle could generate heat or electric sparks. The risk of fire is also high at hydrogen fuel stations. The leaked gas is often wasted or could combust, which may restrain market growth for fuel cell powertrains.
COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global fuel cell powertrain market is segmented based on component, drive, vehicle, power output and region.
Owing to their versatility and cost-effectiveness, the sodium gluconate product
Less than 150 kW is projected to dominate the power outcome segment and continue during the forecast period. A power output of under 150kW characterizes most fuel cell electric vehicles, especially those sold as passenger cars, such as Toyota Mirai, for instance, has a motor that produces 128kW of power. So, the growing demand for fuel-cell passenger cars is predicted to fuel the respective category’s development shortly.
Geographical Analysis
The introduction of strict norms and laws to limit GHG emissions
Europe is most expected to be a stable region of the global fuel cell powertrain market. A significant reason driving the demand for fuel cell powertrains in the region is the introduction of strict norms and laws to limit GHG emissions. The markets in Europe are developing rapidly toward battery and fuel cell-based energy storage and energy supply. Europe is also expected to acquire a significant proportion of the fuel cell powertrain market due to the efforts that are being taken by manufacturers to lower the weight of automobiles to improve their performance.
Competitive Landscape
The major global players include Ballard Power System, Cummins Inc, Denso Corporation, Robert Bosch GmbH, FEV, Ceres Power, Delphi Technologies, Elmelin Ltd, IMT Power Manufactures, NUVERA FUEL CELLS, LLC.
Why Purchase the Report?
• To visualize the global fuel cell powertrain market segmentation based on component, drive, vehicle, power output and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of fuel cell powertrain market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global fuel cell powertrain market report would provide approximately 69 tables, 72figures and 207 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Component
- 3.2. Snippet by Drive
- 3.3. Snippet by Vehicle
- 3.4. Snippet by Power Outcome
- 3.5. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Increasing environmental consciousness
- 4.1.1.2. XX
- 4.1.2. Restraints
- 4.1.2.1. Complications associated with hydrogen fuel cells
- 4.1.2.2. XX
- 4.1.3. Opportunity
- 4.1.3.1. XX
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Component
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 7.1.2. Market Attractiveness Index, By Component
- 7.2. Cell System*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Battery System
- 7.4. Drive
- 7.5. Hydrogen Storage System
- 7.6. Others
- 8. By Drive
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Drive
- 8.1.2. Market Attractiveness Index, By Drive
- 8.2. Rear-Wheel Drive (RWD)*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Front Wheel Drive
- 8.4. All-Wheel Drive (AWD)
- 9. By Vehicle
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 9.1.2. Market Attractiveness Index, By Vehicle
- 9.2. Passenger Vehicle*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Buses
- 9.4. Light Commercial Vehicle
- 9.5. Trucks
- 9.6. Others
- 10. By Power Outcome
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Outcome
- 10.1.2. Market Attractiveness Index, By Power Outcome
- 10.2. Less than 150kW*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. 150-250kW
- 10.4. More Than 250kW
- 10.5. Others
- 11. By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Drive
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Outcome
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.2.7.1. U.S.
- 11.2.7.2. Canada
- 11.2.7.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Drive
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Outcome
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.3.7.1. Germany
- 11.3.7.2. UK
- 11.3.7.3. France
- 11.3.7.4. Italy
- 11.3.7.5. Russia
- 11.3.7.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Drive
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Outcome
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. Brazil
- 11.4.7.2. Argentina
- 11.4.7.3. Rest of South America
- 11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Drive
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Outcome
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. China
- 11.5.7.2. India
- 11.5.7.3. Japan
- 11.5.7.4. Australia
- 11.5.7.5. Rest of Asia-Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Drive
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Outcome
- 12. Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Market Positioning/Share Analysis
- 12.3. Mergers and Acquisitions Analysis
- 13. Company Profiles
- 13.1. Ballard Power System*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Financial Overview
- 13.1.4. Key Developments
- 13.2. Cummins Inc.
- 13.3. Denso Corporation.
- 13.4. Robert Bosch GmbH.
- 13.5. FEV
- 13.6. Ceres Power
- 13.7. -Delphi Technologies
- 13.8. Elmelin Ltd
- 13.9. IMT Power Manufactures
- 13.10. NUVERA FUEL CELLS
- LIST NOT EXHAUSTIVE
- 14. Appendix
- 14.1. About Us and Services
- 14.2. Contact Us
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