Global Automotive Fuel Cells Market Growth 2023-2029

Global Automotive Fuel Cells Market Growth 2023-2029

A fuel cell is a device that generates electricity by a chemical reaction. Automotive fuel cells create electricity to power an electric motor, generally using oxygen from the air and compressed hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no harmful tailpipe exhaust—they emit water vapor and warm air.

LPI (LP Information)' newest research report, the “Automotive Fuel Cells Industry Forecast” looks at past sales and reviews total world Automotive Fuel Cells sales in 2022, providing a comprehensive analysis by region and market sector of projected Automotive Fuel Cells sales for 2023 through 2029. With Automotive Fuel Cells sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Automotive Fuel Cells industry.

This Insight Report provides a comprehensive analysis of the global Automotive Fuel Cells landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Automotive Fuel Cells portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Automotive Fuel Cells market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Automotive Fuel Cells and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Automotive Fuel Cells.

The global Automotive Fuel Cells market size is projected to grow from US$ 541.6 million in 2022 to US$ 1346.9 million in 2029; it is expected to grow at a CAGR of 1346.9 from 2023 to 2029.

The leading manufactures mainly are Toyota, Honda, Hyundai, Ballard and Nedstack. Toyota is the largest manufacturer, its revenue of global market exceeds 78%, which main due to large sales of its fuel cell vehicle.

Geographically, the global automotive fuel cells market has been segmented into North America, Europe, China, Japan, Korea and other. Japan held the largest share in the global automotive fuel cells sales market, its revenue of global market exceeds 82%.

This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Fuel Cells market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Hydrogen Fuel Cell

Others

Segmentation by application

Passenger Vehicle

Commercial Vehicle

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Toyota

Honda

Hyundai

Ballard

Nedstack

Key Questions Addressed in this Report

What is the 10-year outlook for the global Automotive Fuel Cells market?

What factors are driving Automotive Fuel Cells market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Automotive Fuel Cells market opportunities vary by end market size?

How does Automotive Fuel Cells break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.