Global fuel cells for automotive industry market 2024-2028

Description

List of Tables

The fuel cells for automotive industry market is forecasted to grow by USD 8572.6 mn during 2023-2028, accelerating at a CAGR of 35.28% during the forecast period. The report on the fuel cells for automotive industry market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased demand for efficient and cleaner fuel, government incentives for fuel cell vehicles, and advantages of hydrogen fuel cell vehicles.

Technavio's fuel cells for automotive industry market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	28.37%
CAGR	35.28%
Incremental Value	$8572.6mn

ByFuel Type

Hydrogen
Methanol

ByApplication

Light-duty vehicles
Heavy-duty vehicles
Others

ByGeography

APAC
North America
Europe
South America
Middle East and Africa

This study identifies the reduction in cost of fuel cell systems as one of the prime reasons driving the fuel cells for automotive industry market growth during the next few years. Also, increase in R and D investment and activities and diverse applications of fuel cell technology will lead to sizable demand in the market.

The report on the fuel cells for automotive industry market covers the following areas:

Fuel cells for automotive industry market sizing
Fuel cells for automotive industry market forecast
Fuel cells for automotive industry market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fuel cells for automotive industry market vendors that include Acumentrics Inc., Ballard Power Systems Inc., BorgWarner Inc., Ceres Power Holdings plc, Cummins Inc., ElringKlinger AG, Hyster Yale Materials Handling Inc., Hyundai Motor Co., Intelligent Energy Ltd., ITM Power PLC, Nedstack Fuel Cell Technology BV, Nel ASA, PowerCell Sweden AB, PRAGMA INDUSTRIES, Proton Motor Fuel Cell GmbH, The Symbio SAS, TW Horizon Fuel Cell Technologies, Valmet Automotive Group, and W. L. Gore and Associates Inc.. Also, the fuel cells for automotive industry market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR45634

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market By Geographical Landscape
- Executive Summary - Chart on Market Segmentation by Fuel Type
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
2.2 Market characteristics
- Market characteristics analysis
2.3 Value chain analysis
- Value Chain Analysis

3 Market Sizing

3.1 Market definition
- Offerings of companies included in the market definition
3.2 Market segment analysis
- Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ million)
- Data Table on Global - Market size and forecast 2023-2028 ($ million)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global Fuel Cells For Automotive Industry Market 2018 - 2022
- Historic Market Size - Data Table on Global Fuel Cells For Automotive Industry Market 2018 - 2022 ($ million)
4.2 Fuel Type segment analysis 2018 - 2022
- Historic Market Size - Fuel Type Segment 2018 - 2022 ($ million)
4.3 Application segment analysis 2018 - 2022
- Historic Market Size - Application Segment 2018 - 2022 ($ million)
4.4 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Fuel Type

6.1 Market segments
- Chart on Fuel Type - Market share 2023-2028 (%)
- Data Table on Fuel Type - Market share 2023-2028 (%)
6.2 Comparison by Fuel Type
- Chart on Comparison by Fuel Type
- Data Table on Comparison by Fuel Type
6.3 Hydrogen - Market size and forecast 2023-2028
- Chart on Hydrogen - Market size and forecast 2023-2028 ($ million)
- Data Table on Hydrogen - Market size and forecast 2023-2028 ($ million)
- Chart on Hydrogen - Year-over-year growth 2023-2028 (%)
- Data Table on Hydrogen - Year-over-year growth 2023-2028 (%)
6.4 Methanol - Market size and forecast 2023-2028
- Chart on Methanol - Market size and forecast 2023-2028 ($ million)
- Data Table on Methanol - Market size and forecast 2023-2028 ($ million)
- Chart on Methanol - Year-over-year growth 2023-2028 (%)
- Data Table on Methanol - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Fuel Type
- Market opportunity by Fuel Type ($ million)
- Data Table on Market opportunity by Fuel Type ($ million)

7 Market Segmentation by Application

7.1 Market segments
- Chart on Application - Market share 2023-2028 (%)
- Data Table on Application - Market share 2023-2028 (%)
7.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
7.3 Light-duty vehicles - Market size and forecast 2023-2028
- Chart on Light-duty vehicles - Market size and forecast 2023-2028 ($ million)
- Data Table on Light-duty vehicles - Market size and forecast 2023-2028 ($ million)
- Chart on Light-duty vehicles - Year-over-year growth 2023-2028 (%)
- Data Table on Light-duty vehicles - Year-over-year growth 2023-2028 (%)
7.4 Heavy-duty vehicles - Market size and forecast 2023-2028
- Chart on Heavy-duty vehicles - Market size and forecast 2023-2028 ($ million)
- Data Table on Heavy-duty vehicles - Market size and forecast 2023-2028 ($ million)
- Chart on Heavy-duty vehicles - Year-over-year growth 2023-2028 (%)
- Data Table on Heavy-duty vehicles - Year-over-year growth 2023-2028 (%)
7.5 Others - Market size and forecast 2023-2028
- Chart on Others - Market size and forecast 2023-2028 ($ million)
- Data Table on Others - Market size and forecast 2023-2028 ($ million)
- Chart on Others - Year-over-year growth 2023-2028 (%)
- Data Table on Others - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by Application
- Market opportunity by Application ($ million)
- Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

8.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Chart on Market share By Geographical Landscape 2023-2028 (%)
- Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ million)
- Data Table on APAC - Market size and forecast 2023-2028 ($ million)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ million)
- Data Table on North America - Market size and forecast 2023-2028 ($ million)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
9.5 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ million)
- Data Table on Europe - Market size and forecast 2023-2028 ($ million)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ million)
- Data Table on South America - Market size and forecast 2023-2028 ($ million)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ million)
- Data Table on US - Market size and forecast 2023-2028 ($ million)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 Japan - Market size and forecast 2023-2028
- Chart on Japan - Market size and forecast 2023-2028 ($ million)
- Data Table on Japan - Market size and forecast 2023-2028 ($ million)
- Chart on Japan - Year-over-year growth 2023-2028 (%)
- Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.10 South Korea - Market size and forecast 2023-2028
- Chart on South Korea - Market size and forecast 2023-2028 ($ million)
- Data Table on South Korea - Market size and forecast 2023-2028 ($ million)
- Chart on South Korea - Year-over-year growth 2023-2028 (%)
- Data Table on South Korea - Year-over-year growth 2023-2028 (%)
9.11 China - Market size and forecast 2023-2028
- Chart on China - Market size and forecast 2023-2028 ($ million)
- Data Table on China - Market size and forecast 2023-2028 ($ million)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
9.12 Germany - Market size and forecast 2023-2028
- Chart on Germany - Market size and forecast 2023-2028 ($ million)
- Data Table on Germany - Market size and forecast 2023-2028 ($ million)
- Chart on Germany - Year-over-year growth 2023-2028 (%)
- Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
- Market opportunity By Geographical Landscape ($ million)
- Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Opportunity/Restraints

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
10.4 Market opportunities/restraints

11 Competitive Landscape

11.1 Overview
11.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
11.3 Landscape disruption
- Overview on factors of disruption
11.4 Industry risks
- Impact of key risks on business

12 Competitive Analysis

12.1 Companies profiled
- Companies covered
12.2 Market positioning of companies
- Matrix on companies position and classification
12.3 Acumentrics Inc.
- Acumentrics Inc. - Overview
- Acumentrics Inc. - Product / Service
- Acumentrics Inc. - Key offerings
12.4 Ballard Power Systems Inc.
- Ballard Power Systems Inc. - Overview
- Ballard Power Systems Inc. - Product / Service
- Ballard Power Systems Inc. - Key news
- Ballard Power Systems Inc. - Key offerings
12.5 BorgWarner Inc.
- BorgWarner Inc. - Overview
- BorgWarner Inc. - Business segments
- BorgWarner Inc. - Key news
- BorgWarner Inc. - Key offerings
- BorgWarner Inc. - Segment focus
12.6 Ceres Power Holdings plc
- Ceres Power Holdings plc - Overview
- Ceres Power Holdings plc - Business segments
- Ceres Power Holdings plc - Key news
- Ceres Power Holdings plc - Key offerings
- Ceres Power Holdings plc - Segment focus
12.7 Cummins Inc.
- Cummins Inc. - Overview
- Cummins Inc. - Business segments
- Cummins Inc. - Key news
- Cummins Inc. - Key offerings
- Cummins Inc. - Segment focus
12.8 ElringKlinger AG
- ElringKlinger AG - Overview
- ElringKlinger AG - Business segments
- ElringKlinger AG - Key offerings
- ElringKlinger AG - Segment focus
12.9 Hyster Yale Materials Handling Inc.
- Hyster Yale Materials Handling Inc. - Overview
- Hyster Yale Materials Handling Inc. - Business segments
- Hyster Yale Materials Handling Inc. - Key news
- Hyster Yale Materials Handling Inc. - Key offerings
- Hyster Yale Materials Handling Inc. - Segment focus
12.10 Hyundai Motor Co.
- Hyundai Motor Co. - Overview
- Hyundai Motor Co. - Business segments
- Hyundai Motor Co. - Key news
- Hyundai Motor Co. - Key offerings
- Hyundai Motor Co. - Segment focus
12.11 Intelligent Energy Ltd.
- Intelligent Energy Ltd. - Overview
- Intelligent Energy Ltd. - Product / Service
- Intelligent Energy Ltd. - Key offerings
12.12 ITM Power PLC
- ITM Power PLC - Overview
- ITM Power PLC - Product / Service
- ITM Power PLC - Key offerings
12.13 Nedstack Fuel Cell Technology BV
- Nedstack Fuel Cell Technology BV - Overview
- Nedstack Fuel Cell Technology BV - Product / Service
- Nedstack Fuel Cell Technology BV - Key offerings
12.14 PowerCell Sweden AB
- PowerCell Sweden AB - Overview
- PowerCell Sweden AB - Product / Service
- PowerCell Sweden AB - Key offerings
12.15 Proton Motor Fuel Cell GmbH
- Proton Motor Fuel Cell GmbH - Overview
- Proton Motor Fuel Cell GmbH - Product / Service
- Proton Motor Fuel Cell GmbH - Key offerings
12.16 TW Horizon Fuel Cell Technologies
- TW Horizon Fuel Cell Technologies - Overview
- TW Horizon Fuel Cell Technologies - Product / Service
- TW Horizon Fuel Cell Technologies - Key offerings
12.17 W. L. Gore and Associates Inc.
- W. L. Gore and Associates Inc. - Overview
- W. L. Gore and Associates Inc. - Product / Service
- W. L. Gore and Associates Inc. - Key news
- W. L. Gore and Associates Inc. - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
13.3 Currency conversion rates for US$
- Currency conversion rates for US$
13.4 Research methodology
- Research methodology
13.5 Data procurement
- Information sources
13.6 Data validation
- Data validation
13.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
13.8 Data synthesis
- Data synthesis
13.9 360 degree market analysis
- 360 degree market analysis
13.10 List of abbreviations
- List of abbreviations