Fuel Cell Powertrain Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	200 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19224271

Best Price Guarantee
Price	from $4,850
Length	200 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19224271

Fuel Cell Powertrain Market

Growth Factors of Fuel Cell Power Train Market

The Fuel Cell Power Train market size was valued at USD 321.4 million in 2023, and the market is now projected to grow from 597.9 million in 2024 to USD 91,547.4 million by 2032, exhibiting a CAGR of 87.6% during the forecast period of 2024-2032.

The effect of the global COVID-19 pandemic has been also observed in the fuel cell power train market, which experienced a slowdown in part because of its supply chain vulnerability. Different regions imposed lockdown, and economic instability lowered the demand for fuel cell vehicles, and it also postponed many projects. But once again, with the recovery of the economy, emphasis was paid anew to renewable sources of energy and this is why demand for hydrogen fuel cells has increased. Thus, green technologies have become more attractive to the governments and industries by investing in the fuel cell market. Growth during COVID demonstrated the permanency and sustainability of anti-viral energy sources hence boosting long-term market sustainability.

The global market on fuel cell power train is rapidly growing due to ongoing innovations in hydrogen technology as well as growing emphasis on eco-friendly transportation systems. key trends involve perfection and miniaturization of fuel cells, collaborations between car makers and hydrogen suppliers, and the growth of hydrogen re-fuelling stations. Similar, more attention is paid to other non-passenger vehicle uses of fuel cell vehicles including trucks, buses, and vessels. Furthermore, subsidies and political support for electric vehicles are stimulating the use of fuel cell technology in the global automotive industry. The above-mentioned factors are driving the fuel cell power train market growth.

The growth of the fuel cell power train market is initiated by numerous factors such as the need to minimize carbon emissions, coupled by environmental norms that mandate the adoption of green energy technologies. The market is also driven by an increasing need for zero emission vehicles, and improving technologies in hydrogen generation and storage. Moreover, demand of fuel cell vehicles is being driven by government incentives and subsidies for hydrogen infrastructure investments. The constantly growing demand for efficient vehicles in such segments as commercial and heavy-duty also contributes to the market and positions fuel cell technology as one of the possibilities for ecologically friendly mobility.

Comprehensive Analysis Fuel Cell Power Market

The fuel cell powertrain market has been categorized based on power classes, parts, and automobile type. There are three classes of power output; below 150 kW, between 150 kW and 250 kW and above 250 kW depending on the size and performance of various vehicles. These are the fuel cell system, the battery system, the drive system, hydrogen storage system and other even though that all work together for the proper functioning of the vehicle and its efficiency. In terms of the vehicles, the market is segmented by passenger car, commercial vehicle, and buses proving that fuel cell technology have application across passenger cars, commercial, and the public transportation sectors.

The Asia Pacific region dominates the global fuel cell power train market share due to further investments in both established and emerging hydrogen infrastructure and supportive government policies. Currently, the countries leading this movement are Japan, South Korea, and China through financial incentives, including subsidies and emission goals. The governments of Japan and South Korea are aiming ambitious numbers for the introduction of FCVs and rollout of related infrastructure and China’s push for clean power technologies has boosted market development. The large industrial background together with high concerns of research and development make Asia-Pacific as one of key leaders of this sector in the world.

Key players in this sector include Cummins Inc. (U.S.), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Ballard Power Systems (Canada), FEV Group (Canada), Nuvera Fuel Cell LLC (U.S.), Plug Power (U.S.), SFC Energy (Germany)

Bosch has unveiled its latest fuel cell stack that promises to increase the efficiency of hydrogen-powered cars in 2023. This innovation is characterized by enhanced power density and durability hence appropriate for use in both passenger cars and specific commercial vehicle applications. The stack is designed to run optimally for all types of load levels, thereby enhancing its application capability in many applications. Also, Bosch’s modular design of products makes it easy to integrate them into different tiers of vehicle platforms, and thus cutting many costs and time for the developers. This progress is seen as acknowledging the need to adjust fuel cell technology to attain wider usage and increased utilization at car makers.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-20232

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 87.6% over 2024 to 2032

Unit Value (USD Million) & Volume (Units)

Segmentation By Power Output

Less than 150 kW
150 to 250 kW
More than 250kW

By Component

Fuel Cell System
Battery System
Drive System
Hydrogen Storage System
Others

By Vehicle Type

Passenger Cars
Commercial Vehicle
Buses

By Geography

North America (By Power Output, By Component, By Vehicle Type)
U.S.
Canada
Mexico
Europe (By Power Output, By Component, By Vehicle Type)
U.K.
Germany
France
Rest of Europe
Asia Pacific (By Power Output, By Component, By Vehicle Type)
China
Japan
India
South Korea
Rest of Asia pacific
Rest of the World (By Power Output, By Component, By Vehicle Type)

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Industry Developments – Mergers, Acquisitions and Partnerships; 4.2. Porter’s Five Forces Analysis; 4.3. PEST Analysis
5. 4.4 Technological Developments: 5.1. Impact of COVID-19
6. Global Fuel Cell Powertrain Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Analysis, Insights and Forecast – By Power Output; 6.2.1. Less than 150 kW; 6.2.2. 150-250 kW; 6.2.3. More than 250 kW; 6.3. Market Analysis, Insights and Forecast – By Component; 6.3.1. Fuel Cell System; 6.3.2. Battery System; 6.3.3. Drive System; 6.3.4. Hydrogen Storage System; 6.3.5. Others; 6.4. Market Analysis, Insights and Forecast – By Vehicle Type; 6.4.1. Passenger Cars; 6.4.2. Commercial Vehicle; 6.4.3. Buses; 6.5. Market Analysis, Insights and Forecast – By Region; 6.5.1. North America; 6.5.2. Europe; 6.5.3. Asia Pacific; 6.5.4. Rest of the World
7. North America Fuel Cell Powertrain Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Analysis, Insights and Forecast – By Power Output; 7.2.1. Less than 150 kW; 7.2.2. 150-250 kW; 7.2.3. More than 250 kW; 7.3. Market Analysis, Insights and Forecast – By Component; 7.3.1. Fuel Cell System; 7.3.2. Battery System; 7.3.3. Drive System; 7.3.4. Hydrogen Storage System; 7.3.5. Others; 7.4. Market Analysis, Insights and Forecast – By Vehicle Type; 7.4.1. Passenger Cars; 7.4.2. Commercial Vehicle; 7.4.3. Buses
8. Europe Fuel Cell Powertrain Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Analysis, Insights and Forecast – By Power Output; 8.2.1. Less than 150 kW; 8.2.2. 150-250 kW; 8.2.3. More than 250 kW; 8.3. Market Analysis, Insights and Forecast – By Component; 8.3.1. Fuel Cell System; 8.3.2. Battery System; 8.3.3. Drive System; 8.3.4. Hydrogen Storage System; 8.3.5. Others; 8.4. Market Analysis, Insights and Forecast – By Vehicle Type; 8.4.1. Passenger Cars; 8.4.2. Commercial Vehicle; 8.4.3. Buses
9. Asia Pacific Fuel Cell Powertrain Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Analysis, Insights and Forecast – By Power Output; 9.2.1. Less than 150 kW; 9.2.2. 150-250 kW; 9.2.3. More than 250 kW; 9.3. Market Analysis, Insights and Forecast – By Component; 9.3.1. Fuel Cell System; 9.3.2. Battery System; 9.3.3. Drive System; 9.3.4. Hydrogen Storage System; 9.3.5. Others; 9.4. Market Analysis, Insights and Forecast – By Vehicle Type; 9.4.1. Passenger Cars; 9.4.2. Commercial Vehicle; 9.4.3. Buses
10. Rest of the World Fuel Cell Powertrain Market Analysis, Insights and Forecast, 2019-2032: 10.1. Key Findings / Summary; 10.2. Market Analysis, Insights and Forecast – By Power Output; 10.2.1. Less than 150 kW; 10.2.2. 150-250 kW; 10.2.3. More than 250 kW; 10.3. Market Analysis, Insights and Forecast – By Component; 10.3.1. Fuel Cell System; 10.3.2. Battery System; 10.3.3. Drive System; 10.3.4. Hydrogen Storage System; 10.3.5. Others; 10.4. Market Analysis, Insights and Forecast – By Vehicle Type; 10.4.1. Passenger Cars; 10.4.2. Commercial Vehicle; 10.4.3. Buses
11. Competitive Analysis: 11.1. Key Industry Developments; 11.2. Global Market Ranking Analysis (2023); 11.3. Competition Dashboard; 11.4. Comparative Analysis – Major Players; 11.5. Company Profiles; 11.5.1. Cummins Inc. (U.S.); 11.5.1.1. Overview; 11.5.1.2. Products & Services; 11.5.1.3. SWOT Analysis; 11.5.1.4. Recent Developments; 11.5.1.5. Strategies; 11.5.1.6. Financials (Based on Availability); 11.5.2. Robert Bosch GmbH. (Germany); 11.5.2.1. Overview; 11.5.2.2. Products & Services; 11.5.2.3. SWOT Analysis; 11.5.2.4. Recent Developments; 11.5.2.5. Strategies; 11.5.2.6. Financials (Based on Availability); 11.5.3. Denso Corporation (Japan); 11.5.3.1. Overview; 11.5.3.2. Products & Services; 11.5.3.3. SWOT Analysis; 11.5.3.4. Recent Developments; 11.5.3.5. Strategies; 11.5.3.6. Financials (Based on Availability); 11.5.4. Ballard Power Systems (Canada); 11.5.4.1. Overview; 11.5.4.2. Products & Services; 11.5.4.3. SWOT Analysis; 11.5.4.4. Recent Developments; 11.5.4.5. Strategies; 11.5.4.6. Financials (Based on Availability); 11.5.5. FEV Group ( Canada); 11.5.5.1. Overview; 11.5.5.2. Products & Services; 11.5.5.3. SWOT Analysis; 11.5.5.4. Recent Developments; 11.5.5.5. Strategies; 11.5.5.6. Financials (Based on Availability); 11.5.6. Nuvera Fuel cell LLC. (U.S.); 11.5.6.1. Overview; 11.5.6.2. Products & Services; 11.5.6.3. SWOT Analysis; 11.5.6.4. Recent Developments; 11.5.6.5. Strategies; 11.5.6.6. Financials (Based on Availability); 11.5.7. Plug Power (U.S.); 11.5.7.1. Overview; 11.5.7.2. Products & Services; 11.5.7.3. SWOT Analysis; 11.5.7.4. Recent Developments; 11.5.7.5. Strategies; 11.5.7.6. Financials (Based on Availability); 11.5.8. SFC Energy (Germany); 11.5.8.1. Overview; 11.5.8.2. Products & Services; 11.5.8.3. SWOT Analysis; 11.5.8.4. Recent Developments; 11.5.8.5. Strategies; 11.5.8.6. Financials (Based on Availability); 11.5.9. Bloom Energy (U.S.); 11.5.9.1. Overview; 11.5.9.2. Products & Services; 11.5.9.3. SWOT Analysis; 11.5.9.4. Recent Developments; 11.5.9.5. Strategies; 11.5.9.6. Financials (Based on Availability); 11.5.10. Ceres Power(UK); 11.5.10.1. Overview; 11.5.10.2. Products & Services; 11.5.10.3. SWOT Analysis; 11.5.10.4. Recent Developments; 11.5.10.5. Strategies; 11.5.10.6. Financials (Based on Availability)