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Global Automotive Fuel Cells Market Growth 2019-2024
SKU ID : LPI-13870757 | Publishing Date : 19-Feb-2019 | No. of pages : 132
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.
With increasing emission levels, the governments across the globe are focusing on promoting the adoption emission-free vehicles. Several countries around the world including the US and Germany are providing various incentives for fuel cell vehicle buyers. For instance, fuel cell vehicle buyers in Germany receive an incentive of about USD 4,450. Similarly, Japan also provides a purchase subsidy of about USD 19,740 for fuel cell vehicles. Additionally, countries such as China, Japan, South Korea, and the US are also focusing on developing hydrogen infrastructure. Such initiatives will increase the popularity and adoption of fuel cell vehicles, which will subsequently drive the growth of the fuel cells market for the automotive industry.
The leading manufactures mainly are Toyota, Honda, Hyundai, Ballard and Nedstack. Toyota is the largest manufacturer; its revenue of global market exceeds 78% in 2016, which main due to large sales of its fuel cell vehicle.
According to this study, over the next five years the Automotive Fuel Cells market will register a 15.8% CAGR in terms of revenue, the global market size will reach US$ 750 million by 2024, from US$ 310 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Automotive Fuel Cells business, shared in Chapter 3.
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.
This study considers the Automotive Fuel Cells value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Hydrogen Fuel Cell
Other Fuel Cell
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Passenger Vehicle
Commercial Vehicle
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Toyota
Honda
Hyundai
Ballard
Nedstack
...
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Automotive Fuel Cells consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Automotive Fuel Cells market by identifying its various subsegments.
Focuses on the key global Automotive Fuel Cells manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Automotive Fuel Cells with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Automotive Fuel Cells submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
With increasing emission levels, the governments across the globe are focusing on promoting the adoption emission-free vehicles. Several countries around the world including the US and Germany are providing various incentives for fuel cell vehicle buyers. For instance, fuel cell vehicle buyers in Germany receive an incentive of about USD 4,450. Similarly, Japan also provides a purchase subsidy of about USD 19,740 for fuel cell vehicles. Additionally, countries such as China, Japan, South Korea, and the US are also focusing on developing hydrogen infrastructure. Such initiatives will increase the popularity and adoption of fuel cell vehicles, which will subsequently drive the growth of the fuel cells market for the automotive industry.
The leading manufactures mainly are Toyota, Honda, Hyundai, Ballard and Nedstack. Toyota is the largest manufacturer; its revenue of global market exceeds 78% in 2016, which main due to large sales of its fuel cell vehicle.
According to this study, over the next five years the Automotive Fuel Cells market will register a 15.8% CAGR in terms of revenue, the global market size will reach US$ 750 million by 2024, from US$ 310 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Automotive Fuel Cells business, shared in Chapter 3.
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.
This study considers the Automotive Fuel Cells value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Hydrogen Fuel Cell
Other Fuel Cell
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Passenger Vehicle
Commercial Vehicle
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Toyota
Honda
Hyundai
Ballard
Nedstack
...
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Automotive Fuel Cells consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Automotive Fuel Cells market by identifying its various subsegments.
Focuses on the key global Automotive Fuel Cells manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Automotive Fuel Cells with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Automotive Fuel Cells submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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