Automotive Fuel Cell Market by Components (Fuel Stack, Fuel Processor, Power Conditioner), Electrolyte Type (PEMFC, PAFC), Power Output (<100KW, 100-200KW, >200KW), Vehicle Type (PC, LCV, Bus, Truck), H2 Fuel Station, Region - Global Forecast to 2025

The automotive fuel cell market is estimated to be 4,457 Units in 2017 and is projected to reach 268,786 Units by 2025, at a CAGR of 65.86% during the forecast period. The base year for the study is 2017 and the forecast period is 2018–2025. The market is primarily driven by the benefits offered by fuel cell vehicles, such as better fuel efficiency and increased driving range, fast refueling, reduced oil dependency, and no greenhouse gas and air pollutants emission.  Rising demand for fuel cell vehicles in automotive and transportation sectors and government initiatives toward building hydrogen infrastructure will further boost the automotive fuel cell market.

Research Methodology

This research study involves the use of secondary sources such as company annual reports/presentations, industry association publications, automotive magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases such as Hoover’s, Bloomberg Businessweek, and Factiva to identify and collect information for an extensive commercial study of the automotive fuel cell market. The primary sources comprise industry experts, engineers, product managers, R&D managers, automobile OEMs, fuel cell manufacturers, and sales managers. In-depth interviews have been conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), technical experts, fuel cell experts of major market players, and industry consultants to obtain and verify critical qualitative and quantitative information as well as to assess prospects. The following figure illustrates the market research methodology applied to build this report on the automotive fuel cell market.

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the fuel cell market consists of fuel cell manufacturers such as Ballard Power Systems (Canada), ITM Power (UK), Hydrogenics (Canada), Plug Power (US), and AFCC (Canada). The OEMs considered include Toyota (Japan), Honda (Japan), Hyundai (South Korea), Daimler (Germany), and Nissan (Japan).

Target Audience

• Automoitve fuel cell manufacturers and component suppliers
• Fuel stack component manufacturers
• Power conditioner component manufacturers
• Automotive OEMs
• Industry associations and other electric vehicle manufacturers
• The automobile industry and related end-user industries

Scope of the Report

Automotive fuel cell market, By Electrolyte type

• PEMFC
• PAFC

Market By Component type

• Fuel Processor
• Fuel Stack
• Power Conditioner

Automotive fuel cell market, By Power Output

• <100 KW
• 100–200 KW
• >200 KW

Market By Hydrogen Fueling Station

• Asia Pacific
• Europe
• North America

Automotive fuel cell market, By Vehicle Type

• Passenger car
• Bus
• Light Commercial Vehicle (LCV)
• Truck

Market By Region

• Asia Pacific
• Europe
• North America

Available Customizations

• Detailed analysis and profiling of additional countries (up to 3)
• Detailed analysis and profiling of additional market players (up to 3)
• Detailed analysis on country level market numbers of hydrogen fueling stations

Better fuel efficiency and increased driving range are expected to drive the automotive fuel cell market demand close to 268,786 units by 2025

Government initiatives for the development of fuel cell technology and infrastructure are also driving the growth of automotive fuel cell market. Various governments across the globe are focusing on the development of zero-emission vehicles by promoting and subsidizing fuel cell technology.

Most fuel cell vehicles are classified as zero-emission vehicles that emit only water and heat. The automotive fuel cell can be segmented into two types—Proton Exchange Membrane Fuel Cell (PEMFC) and Phosphoric Acid Fuel Cell (PAFC).

The demand for automotive fuel cells is rising due to stringent emission regulation standards and the growing demand for zero-emission vehicles. In addition, OEMs are also collaborating with fuel cell suppliers and manufacturers to develop fuel cell technology for commercial vehicles. Asia Pacific is estimated to be the fastest growing market for automotive fuel cell during the forecast period. China, Japan, and South Korea are the key contributors to the market growth in the region.

Factors such as rising demand for zero-emission vehicles, stringent emission norms, and government subsidies are expected to drive the growth of the market. In North America, the automotive fuel cell market is estimated to grow significantly during the forecast period.Market Dynamics

Drivers

• Better fuel efficiency and increased driving range
• Fast refueling
• Reduced oil dependency
• Less greenhouse gas and air pollutant emissions

Restraints

• Highly flammable
• Hard to detect hydrogen leakages

Opportunities

• Rising demand for fuel cell vehicles in the automotive & transportation sectors
• Government initiatives promoting hydrogen infrastructure

Challenges

• High vehicle costs
• Insufficient hydrogen infrastructure
• Rising demand for BEVs and HEVs

Critical Questions:

• How would BEV sales will impact FCEV market post 2020?
• Will FCEV sales overtake the BEV sales post 2025?
• How useful would be the range extenders for FCEV?
• What would be the impact of using new technology in the catalyst of a fuel cell?

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Secondary Sources
    2.3 Primary Data
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Factor Analysis
           2.4.1 Introduction
           2.4.2 Demand-Side Analysis
                    2.4.2.1 Stringent Emission Regulations
                    2.4.2.2 Growing Industrial Demand for Fuel Cells
                    2.4.2.3 Sustainable Transportation
           2.4.3 Supply-Side Analysis
                    2.4.3.1 Collaboration of Oems With Fuel Cell Suppliers
                    2.4.3.2 Availability of Hydrogen in Abundance
                    2.4.3.3 Reducing Cost of Raw Materials
    2.5 Market Size Estimation
    2.6 Data Triangulation
    2.7 Assumptions

3 Executive Summary (Page No. - 32)

4 Premium Insights (Page No. - 40)
    4.1 Attractive Opportunities in the Automotive Fuel Cell Market
    4.2 Market, By Vehicle Type, 2018–2025
    4.3 Market, By Power Output, 2018–2025
    4.4 Market, By Electrolyte Type, 2018–2025
    4.5 Market, By Hydrogen Stations, 2018–2025
    4.6 Market, By Component Type, 2018–2025
    4.7 Automotive Fuel Cell Market, By Region, 2018–2025

5 Market Overview (Page No. - 46)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Better Fuel Efficiency and Increased Driving Range
                    5.2.1.2 Fast Refueling
                    5.2.1.3 Reduced Oil Dependency
                    5.2.1.4 Less Greenhouse Gas and Air Pollutant Emissions
           5.2.2 Restraints
                    5.2.2.1 Highly Flammable
                    5.2.2.2 Hard to Detect Hydrogen Leakages
           5.2.3 Opportunities
                    5.2.3.1 Rising Demand for Fuel Cell Vehicles in the Automotive & Transportation Sectors
                    5.2.3.2 Government Initiatives Promoting Hydrogen Infrastructure
           5.2.4 Challenges
                    5.2.4.1 High Vehicle Costs
                    5.2.4.2 Insufficient Hydrogen Infrastructure
                    5.2.4.3 Rising Demand for Bevs and Hevs
    5.3 Macro-Indicator Analysis
           5.3.1 Introduction
                    5.3.1.1 Fuel Cell Electric Vehicle Sales as A Percentage of Electric Car Sales
                    5.3.1.2 GDP (USD Billion)
                    5.3.1.3 Gni Per Capita, Atlas Method (USD)
                    5.3.1.4 GDP Per Capita PPP (USD)
                    5.3.1.5 Macro Indicators Influencing the Automotive Fuel Cell Market,
                               5.3.1.5.1 US
                               5.3.1.5.2 Japan
                               5.3.1.5.3 China
    5.4 Expected Fcev Model Launches
    5.5 Key Trends in Fuel Cell Technology
           5.5.1 Fuel Cell for Heavy Load Transportation
           5.5.2 Plug-In Hybrid Fuel Cell Vehicles
           5.5.3 Hydrogen Production Process (Electrolysis- Shell Electrolysis Plant)
           5.5.4 Decreasing Cost of Fuel Cell
           5.5.5 Powertrain Costs of Fcevs and Bevs at Various Electric Energy Capacity Levels, 2030
    5.6 Cost of Fuel Cell Systems, Current & Future Trend

6 Automotive Fuel Cell Market, Future Trends & Scenario (Page No. - 65)
    6.1 Introduction
    6.2 Automotive Fuel Cell Market – Most Likely Scenario
    6.3 Market – Optimistic Scenario
    6.4 Market – Pessimistic Scenario

7 Technology Overview (Page No. - 69)
    7.1 Introduction
    7.2 Key Components of Fuel Cell Electric Vehicle
           7.2.1 Fuel Cell Stack
           7.2.2 Fuel Processor
           7.2.3 Power Conditioner
    7.3 Types of Fuel Cell

8 Automotive Fuel Cell Market, By Electrolyte Type (Page No. - 74)
    8.1 Introduction
    8.2 Pemfc
    8.3 Pafc

9 Market By Component Type (Page No. - 80)
    9.1 Introduction
    9.2 Fuel Stack
    9.3 Fuel Processor
    9.4 Power Conditioner

10 Automotive Fuel Cell Market, By Power Output (Page No. - 88)
     10.1 Introduction
     10.2 <100 Kw Power Output
     10.3 100–200 Kw Power Output
     10.4 >200 Kw Power Output

11 Market By Hydrogen Fueling Station (Page No. - 98)
     11.1 Introduction
     11.2 Asia Pacific
     11.3 Europe
     11.4 North America

12 Automotive Fuel Cell Market, By Vehicle Type (Page No. - 104)
     12.1 Introduction
     12.2 PC
     12.3 LCV
     12.4 Buses
     12.5 Trucks

13 Market By Region (Page No. - 113)
     13.1 Introduction
     13.2 Asia Pacific
             13.2.1 China
             13.2.2 India
             13.2.3 Japan
             13.2.4 South Korea
     13.3 Europe
             13.3.1 France
             13.3.2 Germany
             13.3.3 Italy
             13.3.4 The Netherlands
             13.3.5 Norway
             13.3.6 Sweden
             13.3.7 UK
     13.4 North America
             13.4.1 Canada
             13.4.2 Mexico
             13.4.3 US

14 Competitive Landscape (Page No. - 132)
     14.1 Overview
     14.2 Market Ranking Analysis
     14.3 Competitive Scenario
             14.3.1 Collaborations/Joint Ventures/Supply Contracts/Partnerships/Agreements
             14.3.2 New Product Developments
             14.3.3 Expansions
             14.3.4 Mergers & Acquisitions

15 Company Profile (Page No. - 137)
     15.1 Toshiba
     15.2 Ballard Power Systems
     15.3 Hydrogenics
     15.4 ITM Power
     15.5 Plug Power
     15.6 Ceres Power
     15.7 Nedstack
     15.8 Nuvera
     15.9 AFCC
     15.10 Delphi
     15.11 Panasonic
     15.12 Toyota
     15.13 Honda
     15.14 Hyundai
     15.15 Daimler
     15.16 Nissan

16 Appendix (Page No. - 175)
     16.1 Insights of Industry Experts
     16.2 Discussion Guide
     16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.4 Introducing RT: Real Time Market Intelligence
     16.5 Available Customizations
             16.5.1 Detailed Analysis and Profiling of Additional Countries (Up to 3)
             16.5.2 Detailed Analysis and Profiling of Additional Market Players
             16.5.3 Detailed Analysis on Country Level Market Numbers of Hydrogen Fueling Stations
     16.6 Related Reports
     16.7 Author Details

List of Tables (55 Tables)

Table 1 Currency Exchange Rates (W.R.T. USD)
Table 2 Efficiency Comparison of Fcevs, Bevs, & Ice
Table 3 Comparison of Fuel Cell Electric Vehicle Models
Table 4 Fuel Cell Bus Statistics
Table 5 Policies & Initiatives Supporting Hydrogen-Powered Vehicles & Hydrogen Infrastructure, 2016
Table 6 Automotive Fuel Cell Market (Most Likely), By Region, 2018–2025 (Units)
Table 7 Market (Optimistic Scenario), By Region, 2018–2025 (Units)
Table 8 Market (Pessimistic), By Region, 2018–2025 (Units)
Table 9 Effects of Various Gaseous Reactants on Types of Fuel Cells
Table 10 Comparison of Characteristics of Different Types of Fuel Cells
Table 11 Automotive Fuel Cell Market Size, By Electrolyte Type, 2016–2025 (Units)
Table 12 Pemfc: Market Size By Vehicle Type, 2016–2025 (Units)
Table 13 Pemfc: Market Size By Region, 2016–2025 (Units)
Table 14 Pafc: Market Size By Vehicle Type, 2016–2025 (Units)
Table 15 Pafc: Market Size By Region, 2016–2025 (Units)
Table 16 Automotive Fuel Cell Market Size, By Component Type, 2016–2025 (USD Million)
Table 17 Fuel Stack: Market Size By Region, 2016–2025 (USD Million)
Table 18 Fuel Processor: Market Size By Region, 2016–2025 (USD Million)
Table 19 Power Conditioner: Market Size By Region, 2016–2025 (USD Million)
Table 20 Automotive Fuel Cell Market Size, By Power Output, 2016–2025 (Units)
Table 21 <100 Kw Power Output: Market Size By Vehicle Type, 2016–2025 (Units)
Table 22 <100 Kw Power Output: Market Size By Region, 2016–2025 (Units)
Table 23 100–200 Kw Power Output: Market Size By Vehicle Type, 2016–2025 (Units)
Table 24 100–200 Kw Power Output: Market Size By Region, 2016–2025 (Units)
Table 25 >200 Kw Power Output: Market Size By Vehicle Type, 2016–2025 (Units)
Table 26 >200 Kw Power Output: Market Size By Region, 2016–2025 (Units)
Table 27 Automotive Fuel Cell Market Size, By Hydrogen Fueling Station, 2016–2025 (Numbers)
Table 28 Asia Pacific: Hydrogen Fueling Station Market Size By Country, 2016–2025 (Numbers)
Table 29 Europe: Hydrogen Fueling Station Market Size By Country, 2016–2025 (Numbers)
Table 30 North America: Hydrogen Fueling Station Market Size By Country, 2016–2025 (Numbers)
Table 31 Automotive Fuel Cell Market Size, By Vehicle Type, 2016–2030 (Units)
Table 32 PC: Market Size By Region, 2016–2030 (Units)
Table 33 LCV: Market Size By Region, 2016–2030 (Units)
Table 34 Buses: Market Size By Region, 2016–2030 (Units)
Table 35 Trucks: Market Size By Region, 2016–2030 (Units)
Table 36 Automotive Fuel Cell Market, By Region, 2016–2025 (Units)
Table 37 Asia Pacific: Market, By Country, 2016–2025 (Units)
Table 38 China: Market By Vehicle Type, 2016–2025 (Units)
Table 39 India: Market By Vehicle Type, 2016–2025 (Units)
Table 40 Japan: Market By Vehicle Type, 2016–2025 (Units)
Table 41 South Korea: Market By Vehicle Type, 2016–2025 (Units)
Table 42 Europe: Market By Country, 2016–2025 (Units)
Table 43 France: Market By Vehicle Type, 2016–2025 (Units)
Table 44 Germany: Market By Vehicle Type, 2016–2025 (Units)
Table 45 Italy: Automotive Fuel Cell Market, By Vehicle Type, 2016–2025 (Units)
Table 46 Netherlands: Market By Vehicle Type, 2016–2025 (Units)
Table 47 Norway: Market By Vehicle Type, 2016–2025 (Units)
Table 48 Sweden: Market By Vehicle Type, 2016–2025 (Units)
Table 49 UK: Market By Vehicle Type, 2016–2025 (Units)
Table 50 North America: Market By Country, 2016–2025 (Units)
Table 51 Canada: Market By Vehicle Type, 2016–2025 (Units)
Table 52 Mexico: Market By Vehicle Type, 2016–2025 (Units)
Table 53 US: Automotive Fuel Cell Market, By Vehicle Type, 2016–2025 (Units)
Table 54 Collaborations/Joint Ventures/Supply Contracts/Partnerships/ Agreements
Table 55 New Product Developments

List of Figures (77 Figures)

Figure 1 Automotive Fuel Cell Market: Markets Covered
Figure 2 Research Design
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Fuel Cells Shipped Worldwide, By Application
Figure 6 Annual Hydrogen Production/Demand, 2017
Figure 7 Fuel Cell R&D Funding in the Us, 2016 vs 2017
Figure 8 Market Size Estimation Methodology for the Market: Bottom-Up Approach
Figure 9 Market Size Estimation Methodology for the Market: Top-Down Approach
Figure 10 Key Countries in the Automotive Fuel Cell Market: China is Estimated to Be the Largest Market By 2025 (Units)
Figure 11 Asia Pacific is Estimated to Be the Fastest Growing Market for Automotive Fuel Cell, 2018 vs. 2025 (Units)
Figure 12 Pemfc is Estimated to Hold the Largest Share of the Market, 2018 vs. 2025 (Units)
Figure 13 PC Segment is Estimated to Hold the Largest Share of the Market, 2018 vs. 2025 (Units)
Figure 14 100–200 Kw Power Output is Estimated to Hold the Largest Share of the AMarket, 2018 vs. 2025 (Units)
Figure 15 Fuel Stack is Estimated to Hold the Largest Share of the Automotive Fuel Cell Market, 2018 vs. 2025 (USD Million)
Figure 16 Asia Pacific is Estimated to Hold the Largest Number of Hydrogen Fueling Stations of the Market, 2018 vs. 2025 (Number39
Figure 17 Better Fuel Efficiency and Increased Driving Range are Expected to Drive the Market
Figure 18 Passenger Cars Segment to Hold the Largest Share of Market, By Volume
Figure 19 100–200 Kw to Hold the Largest Share, By Volume, of the Market
Figure 20 Pemfc to Hold the Largest Share, By Volume, of the Market
Figure 21 Asia Pacific to Hold the Largest Share, By Volume, of the Hydrogen Fueling Station in Market
Figure 22 Fuel Stack to Hold the Largest Share, By Volume, of the Market
Figure 23 Asia Pacific is Estimated to Be the Fastest Growing Market for Automotive Fuel Cell, 2018–2025 (Units)
Figure 24 Automotive Fuel Cell Market: Market Dynamics
Figure 25 Liquid Oil Consumption (Million Barrels Per Day), 2011–2019
Figure 26 Operated & Planned Fuel Cell Buses, 2017
Figure 27 Cost of Fuel Cell, By Component
Figure 28 Hydrogen Infrastructure Maintenance Costs, By Component
Figure 29 Electric Vehicle Sales, 2012–2017
Figure 30 US: Increasing Sales of Fuel Cell Electric Vehicles as A Percentage of Electric Vehicle Sales to Propel the Automotive Fuel Cell Market
Figure 31 Japan: Increasing Government Initiatives Will Boost the Automotive Fuel Cell Market
Figure 32 China: Accelerating Sales of Electric Vehicles Will Provide an Opportunity for the Growth of Fuel Cell Vehicle Sales
Figure 33 Fuel Cell Mass Market Acceptance Timeline in Transportation Sector, 2016–2050
Figure 34 Sources of Hydrogen Production, 2016
Figure 35 Fuel Cell System Cost, 2006–2030
Figure 36 Fuel Cell System & Fuel Cell Stack Cost as Per Annual Production Rate, 2016
Figure 37 Global Automotive Fuel Cell Market– Future Trends & Scenario, 2018–2025 (Units)
Figure 38 Evolution of Fuel Cell System
Figure 39 Key Components of Fuel Cell Electric Vehicle
Figure 40 Automotive Fuel Cell Market, By Electrolyte Type, 2018 vs 2025 (Units)
Figure 41 Pemfc: Market By Region, 2018 vs 2025 (Units)
Figure 42 Pafc: Market By Region, 2018 vs 2025 (Units)
Figure 43 Market By Component Type, 2018 vs. 2025 (USD Million)
Figure 44 Fuel Stack: Market By Region, 2018 vs. 2025 (USD Million)
Figure 45 Fuel Processor: Market By Region, 2018 vs. 2025 (USD Million)
Figure 46 Power Conditioner: Market By Region, 2018 vs. 2025 (USD Million)
Figure 47 Automotive Fuel Cell Market, By Power Output, 2018 vs 2025 (Units)
Figure 48 <100 Kw Power Output: Market By Region, 2018 vs 2025 (Units)
Figure 49 100–200 Kw Power Output: Market By Region, 2018 vs 2025 (Units)
Figure 50 >200 Kw Power Output: Market By Region, 2018 vs 2025 (Units)
Figure 51 Hydrogen Fueling Station Market, By Region, 2018 vs 2025 (Numbers)
Figure 52 Automotive Fuel Cell Market, By Vehicle Type, 2018 vs 2030 (Units)
Figure 53 PC: Market By Region, 2018 vs 2030 (Units)
Figure 54 LCV: Market By Region, 2018 vs 2030 (Units)
Figure 55 Buses: Market By Region, 2018 vs 2030 (Units)
Figure 56 Trucks: Market By Region, 2018 vs 2030 (Units)
Figure 57 Automotive Fuel Cell Market, By Region, 2018 vs. 2025 (Units)
Figure 58 Asia Pacific: Market 2018 vs. 2025, (Units)
Figure 59 Europe: Market 2018 vs. 2025, (Units)
Figure 60 North America: Market 2018 vs. 2025, (Units)
Figure 61 Key Developments By Leading Players in the Market, 2014–2018
Figure 62 Toshiba: Company Snapshot (2017)
Figure 63 Toshiba: Swot Analysis
Figure 64 Ballard Power Systems: Company Snapshot (2016)
Figure 65 Ballard Power Systems: Swot Analysis
Figure 66 Hydrogenics: Company Snapshot (2016)
Figure 67 Hydrogenics: Swot Analysis
Figure 68 ITM Power: Company Snapshot (2017)
Figure 69 ITM Power: Swot Analysis
Figure 70 Plug Power: Company Snapshot (2016)
Figure 71 Plug Power: Swot Analysis
Figure 72 Ceres Power: Company Snapshot (2017)
Figure 73 Delphi: Company Snapshot (2016)
Figure 74 Panasonic: Company Snapshot (2017)
Figure 75 Toyota: Company Snapshot (2017)
Figure 76 Honda: Company Snapshot (2017)
Figure 77 Hyundai: Company Snapshot (2016)

The volume of automoitve fuel cell market is estimated to be 7,785 units in 2018 and is projected to reach 268,786 units by 2025, at a CAGR of 65.86% from 2018 to 2025. The key growth drivers for the market are higher fuel efficiency , longer driving range, and fast refueling of fuel cell; stringent emission norms; increasing government initiatives and investment for the development of fuel cell technology; and the increasing use of fuel cell in transportation sector.

The fuel stack segment, by component type, is estimated to hold the largest market share in 2018. However, the power conditioner segment is estimated to be the fastest growing segment during the forecast period because of the increasing adoption of electronic systems in vehicles.

The passenger car segment is estimated to hold the largest market share, in terms of volume, for automotive fuel cell market, by vehicle type, during the forecast period. The segment is estimated to be the fastest growing market owing to the ease of application of fuel cell technology in passenger cars, increased driving range, cost efficiency, and high focus of OEMs to implement fuel cell technology in passenger cars.

The 100–200 KW segment is estimated to hold the largest market share, by volume, for automotive fuel cell market, by power output, during the forecast period. The growth will be driven by high demand for passenger vehicles.  High output powered vehicles provide increased driving range and better performance. >200 KW is estimated to be fastest growing segment in the market. The segment is expected to grow because of the mass adoption of fuel cell commercial vehicles.

The Proton Exchange Membrane (PEM) fuel cell is estimated to be largest and fastest growing market, in terms of volume, in the automotive fuel cell market, by electrolyte type. PEM fuel cells are used in passenger and commercial vehicles for their high-power density, suitable operating temperature, small size, and light weight.

Asia Pacific is estimated to be the largest market for automoitve fuel cell during the forecast period, followed by North America and Europe. The higher production of fuel cell vehicles such as cars, buses, and trucks  are driving the automoitve fuel cell market in this region. Also, Asia Pacific represents the biggest market for green technologies in the world. The largest markets for fuel cells in Asia Pacific are China, Japan, and South Korea.

The factors restraining the growth of automotive fuel cell are high flammability and the difficulty in detecting the leakage of hydrogen. Also, rising demand for battery electric vehicles and hybrid electric vehicles, insufficient hydrogen infrastructure, and high cost of hydrogen-powered vehicle are the challenges for the growth of automotive fuel cell market.

The automoitve fuel cell market is dominated by a few global players and comprises several regional players.  Some of the key manufacturers operating in the market are Ballard Power System (Canada), ITM Power (UK), Plug Power (US), Toshiba (Japan), AFCC (Canada), Hydrogenics (Canada) and Ceres Power (UK).

Rising demand of zero emission vehicles and stringent emission regulations are driving the automotive fuel cell market.

Fuel Stack

The fuel cell stack is the essential component of the fuel cell system. The fuel cell stack has two flow field plates and Membrane Electrode Assembly (MEA). The fuel cell stack generates electricity in the form of Direct Current (DC). Hence, DC/AC converter should be used to convert the electricity to AC, for AC application in FCEVs. A fuel cell used for automotive applications generates less than 1.16 volts of electricity. In order to generate more power and electricity individual fuel cells are stacked. This assembly is called fuel cell stack. Owing to increasing researches, developments, investments by fuel cell manufacturers, OEMs and governments the cost of fuel stack is expected to reduce.

Fuel Processor

The fuel used in the fuel cell can be pure hydrogen, hydrogen produced from hydrocarbon fuels such as natural gas, petroleum-based liquids, methanol, methane, biogas, biomass, landfill gas and anaerobic digester gas. The function of the fuel processor is to convert fuel into the form which is suitable for fuel cell application. The fuel processor in a fuel cell can be sorbent bed or combination of multiple reactors and sorbents depending on fuel and type of fuel cell. In a fuel cell which is powered by hydrocarbon fuels, a reformer is used to convert hydrocarbon into reformate. The Europe region is estimated to lead the fuel processor market, by value. Asia Pacific region is projected to have the highest market share in automotive fuel cell market, by volume, in 2030, but low production cost in the region will decrease the region’s fuel stack market share, by value.

Power Conditioner

A fuel cell generates electricity in the form of direct current (DC). For the applications in a vehicle which uses alternating current (AC), the DC current generated by fuel cell should be converted into AC. Conditioning of both AC and DC should be done in automotive applications of the fuel cell. For conditioning purpose power conditioner is used. A power conditioner can condition controlling current, voltage, frequency, and other electric current characteristics as per requirement of the particular application. The efficiency of the systems can be reduced by 2%-6% due to the conversion and conditioning process types of fuel cell. The power conditioner will be a key component in a fuel cell as the electricity generated by the fuel cell needs conditioning. Hence, the power conditioner market, by value is estimated to grow at CAGR of 63.78%.

Critical questions would be;

• Where will all these developments into the Fuel cell technology take the industry in the mid to long term?
• How many models will be launched in FCEV space by 2025? 
• Is there a threat to the market from the substitute propulsions such as BEVs or PHEVs?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst