The market for hydrogen fuel cell is expected to grow at a CAGR of around 65.9% from 2020 to 2027 and expected to reach the market value of around US$ 48,531.1 Mn by 2027.
Hydrogen Fuel Cell is an electrochemical power generator that combines hydrogen and oxygen to produce electricity with water and heat as by-products. Hydrogen fuel cell technology offers a clean and reliable alternative of energy to customers for a number of applications including electric vehicles, primary and backup power for a variety of commercial, industrial and residential buildings, drones, and mobile phone recharging among others.
Market Dynamics
The increasing demand for fuel cell electric vehicles owing to rising concerns about the environmental degradation and depletion of natural resources is accelerating the market value. The increasing awareness regarding the consequences of air pollution due to rising levels of traffic & greenhouse gas emission is further bolstering the market value. The benefits associated with hydrogen fuel cells and the government norms and initiatives for low carbon emissions are further boosting the demand in the global market. Furthermore, the rising long term plans by emerging and other governments for the installation of hydrogen stations are projected to create potential opportunities over the forecast timeframe from 2020 to 2027.
On the other side, the high cost associated with the hydrogen fuel cell is projected to hamper the growth over the forecast timeframe from 2020 to 2027.
Segment Instance
By technology, the market is divided into proton membrane exchange, phosphoric acid fuel cell, and others. A proton exchange membrane (PEM) technology cell uses hydrogen gas (H2) and oxygen gas (O2) as fuel and the products of the reaction in the cell are water, electricity, and heat. Phosphoric acid fuel cells (PAFCs) use a concentrated phosphoric acid solution (H3PO4) as an electrolyte in a matrix of silicon carbide and PTFE between two graphite-based electrodes and suitably treated with small amounts of the platinum catalyst. Additionally, phosphoric acid fuel cell (PAFC) anodes accelerate the hydrogen oxidation reaction rate in phosphoric acid.
The market research study on “Hydrogen Fuel Cell Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global hydrogen fuel cell market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global hydrogen fuel cell market, its vehicle type, technology, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Hydrogen Fuel Cell market size and volume, and segment markets by vehicle type, technology, and geography along with the information on companies operating in the market. The hydrogen fuel cell market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific accounted for the major share in the global market
In 2019, Asia Pacific accounted for the major share (%) in the global market. The region is particularly gaining growth on account of its economies including China, Japan, and South Korea. The increasing developments of applications based on hydrogen fuel cell technology in the regional market are accelerating market growth. The Japanese government is planning to install 900 hydrogen fueling stations by 2030 as per their goals for cleaner energy. Additionally, the region is also projected to maintain its dominance throughout the forecast period while exhibiting the fastest growth with major CAGR (%).
The players profiled in the report include Audi, Ballard Power Systems, BMW, Daimler, General Motors, Honda, Hyundai, MAN, Toyota, and Volvo.
Market Segmentation
Market By Vehicle Type
Passenger Vehicle
Commercial Vehicle
Market By Technology
Proton Membrane Exchange
Phosphoric Acid Fuel Cell
Others
Market By Geography
North America
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Table Of Content:
CHAPTER 1. INDUSTRY OVERVIEW
1.1. Definition and Scope
1.1.1. Definition of Hydrogen Fuel Cell
1.1.2. Market Segmentation
1.1.3. List of Abbreviations
1.2. Summary
1.2.1. Market Snapshot
1.2.2. Hydrogen Fuel Cell Market By Vehicle Type
1.2.2.1. Global Hydrogen Fuel Cell Market Revenue and Growth Rate Comparison By Vehicle Type (2020-2027)
1.2.2.2. Global Hydrogen Fuel Cell Market Revenue Share By Vehicle Type in 2019
1.2.2.2.1. Passenger Vehicle
1.2.2.2.2. Commercial Vehicle
1.2.3. Hydrogen Fuel Cell Market By Technology
1.2.3.1. Proton Membrane Exchange
1.2.3.2. Phosphoric Acid Fuel Cell
1.2.3.3. Others
1.2.4. Hydrogen Fuel Cell Market By Geography
1.2.4.1. Global Hydrogen Fuel Cell Market Revenue and Growth Rate Comparison by Geography (2020-2027)
1.2.4.2. North America Hydrogen Fuel Cell Market Revenue and Growth Rate(2020-2027)
1.2.4.3. Europe Hydrogen Fuel Cell Market Revenue and Growth Rate(2020-2027)
1.2.4.4. Asia-Pacific Hydrogen Fuel Cell Market Revenue and Growth Rate(2020-2027)
1.2.4.5. Latin America Hydrogen Fuel Cell Market Revenue and Growth Rate(2020-2027)
1.2.4.6. Middle East and Africa (MEA) Hydrogen Fuel Cell Market Revenue and Growth Rate(2020-2027)
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
2.1. Market Drivers
2.2. Restraints and Challenges
2.3. Growth Opportunities
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitute
2.4.4. Threat of New Entrants
2.4.5. Degree of Competition
2.5. Value Chain Analysis
2.6. Cost Structure Analysis
2.6.1. Raw Material and Suppliers
2.6.2. Manufacturing Process Analysis
2.7. Regulatory Compliance
2.8. Competitive Landscape, 2019
2.8.1. Player Positioning Analysis
2.8.2. Key Strategies Adopted By Leading Players
CHAPTER 3. MANUFACTURING PLANTS ANALYSIS
3.1. Capacity and Commercial Production Date of Global Pure Cashmere Major Manufacturers in 2019
3.2. Manufacturing Plants Distribution of Global Pure Cashmere Major Manufacturers in 2019
3.3. R&D Status and Technology Source of Global Pure Cashmere Major Manufacturers in 2019
3.4. Raw Materials Sources Analysis of Global Pure Cashmere Major Manufacturers in 2019
CHAPTER 4. Hydrogen Fuel Cell MARKET By Vehicle Type
4.1. Global Pure Cashmere Revenue By Vehicle Type
4.2. Passenger Vehicle
4.2.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
4.2.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
4.3. Commercial Vehicle
4.3.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
4.3.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
CHAPTER 5. Hydrogen Fuel Cell MARKET By Technology
5.1. Global Pure Cashmere Revenue By Technology
5.2. Proton Membrane Exchange
5.2.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.2.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.3. Phosphoric Acid Fuel Cell
5.3.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.3.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.4. Others
5.4.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.4.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
CHAPTER 6. NORTH AMERICA Hydrogen Fuel Cell MARKET BY COUNTRY
6.1. North America Hydrogen Fuel Cell Market Revenue and Growth Rate, 2020 - 2027 ($Million)
6.2. North America Hydrogen Fuel Cell Market Revenue Share Comparison, 2020 & 2027 (%)
6.3. U.S.
6.3.1. U.S. Hydrogen Fuel Cell Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
6.3.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
6.4. Canada
6.4.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
6.4.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
CHAPTER 7. EUROPE Hydrogen Fuel Cell MARKET BY COUNTRY
7.1. Europe Hydrogen Fuel Cell Market Revenue and Growth Rate, 2020 - 2027 ($Million)
7.2. Europe Hydrogen Fuel Cell Market Revenue Share Comparison, 2020 & 2027 (%)
7.3. UK
7.3.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
7.3.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
7.4. Germany
7.4.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
7.4.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
7.5. France
7.5.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
7.5.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
7.6. Spain
7.6.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
7.6.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
7.7. Rest of Europe
7.7.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
7.7.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
CHAPTER 8. ASIA-PACIFIC Hydrogen Fuel Cell MARKET BY COUNTRY
8.1. Asia-Pacific Hydrogen Fuel Cell Market Revenue and Growth Rate, 2020 - 2027 ($Million)
8.2. Asia-Pacific Hydrogen Fuel Cell Market Revenue Share Comparison, 2020 & 2027 (%)
8.3. China
8.3.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
8.3.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
8.4. Japan
8.4.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
8.4.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
8.5. India
8.5.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
8.5.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
8.6. Australia
8.6.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
8.6.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
8.7. South Korea
8.7.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
8.7.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
8.8. Rest of Asia-Pacific
8.8.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
8.8.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
CHAPTER 9. LATIN AMERICA Hydrogen Fuel Cell MARKET BY COUNTRY
9.1. Latin America Hydrogen Fuel Cell Market Revenue and Growth Rate, 2020 - 2027 ($Million)
9.2. Latin America Hydrogen Fuel Cell Market Revenue Share Comparison, 2020 & 2027 (%)
9.3. Brazil
9.3.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
9.3.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
9.4. Mexico
9.4.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
9.4.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
9.5. Rest of Latin America
9.5.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
9.5.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
CHAPTER 10. MIDDLE EAST & AFRICA Hydrogen Fuel Cell MARKET BY COUNTRY
10.1. Middle East & Africa Hydrogen Fuel Cell Market Revenue and Growth Rate, 2020 - 2027 ($Million)
10.2. Middle East& Africa Hydrogen Fuel Cell Market Revenue Share Comparison, 2020 & 2027 (%)
10.3. GCC
10.3.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
10.3.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
10.4. South Africa
10.4.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
10.4.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
10.5. Rest of Middle East & Africa
10.5.1. Market Revenue and Forecast By Vehicle Type, 2020 - 2027 ($Million)
10.5.2. Market Revenue and Forecast By Technology, 2020 - 2027 ($Million)
CHAPTER 11. COMPANY PROFILE
11.1. Audi
11.1.1. Company Snapshot
11.1.2. Overview
11.1.3. Financial Overview
11.1.4. Product Portfolio
11.1.5. Key Developments
11.1.6. Strategies
11.2. Ballard Power Systems
11.2.1. Company Snapshot
11.2.2. Overview
11.2.3. Financial Overview
11.2.4. Product Portfolio
11.2.5. Key Developments
11.2.6. Strategies
11.3. BMW
11.3.1. Company Snapshot
11.3.2. Overview
11.3.3. Financial Overview
11.3.4. Product Portfolio
11.3.5. Key Developments
11.3.6. Strategies
11.4. Daimler
11.4.1. Company Snapshot
11.4.2. Overview
11.4.3. Financial Overview
11.4.4. Product Portfolio
11.4.5. Key Developments
11.4.6. Strategies
11.5. General Motors
11.5.1. Company Snapshot
11.5.2. Overview
11.5.3. Financial Overview
11.5.4. Product Portfolio
11.5.5. Key Developments
11.5.6. Strategies
11.6. Honda
11.6.1. Company Snapshot
11.6.2. Overview
11.6.3. Financial Overview
11.6.4. Product Portfolio
11.6.5. Key Developments
11.6.6. Strategies
11.7. Hyundai
11.7.1. Company Snapshot
11.7.2. Overview
11.7.3. Financial Overview
11.7.4. Product Portfolio
11.7.5. Key Developments
11.7.6. Strategies
11.8. MAN
11.8.1. Company Snapshot
11.8.2. Overview
11.8.3. Financial Overview
11.8.4. Product Portfolio
11.8.5. Key Developments
11.8.6. Strategies
11.9. Toyota
11.9.1. Company Snapshot
11.9.2. Overview
11.9.3. Financial Overview
11.9.4. Product Portfolio
11.9.5. Key Developments
11.9.6. Strategies
11.10. Volvo
11.10.1. Company Snapshot
11.10.2. Overview
11.10.3. Financial Overview
11.10.4. Product Portfolio
11.10.5. Key Developments
11.10.6. Strategies
11.11. Others
11.11.1. Company Snapshot
11.11.2. Overview
11.11.3. Financial Overview
11.11.4. Product Portfolio
11.11.5. Key Developments
11.11.6. Strategies
CHAPTER 12. RESEARCH APPROACH
12.1. Research Methodology
12.1.1. Initial Data Search
12.1.2. Secondary Research
12.1.3. Primary Research
12.2. Assumptions and Scope
