Fuel Cell Powertrain Market

Fuel Cell Powertrain Market by Component (Fuel Cell System, Drive System, Battery System, Hydrogen Storage System, and Gearbox), Vehicle Type (PC, LCV, Trucks, Buses), Power Output, Drive Type, H2 Fuel Station and Region - Global Forecast to 2027

Report Code: AT 7734 Jun, 2022, by marketsandmarkets.com

[286 Pages Report] The global fuel cell powertrain market size is projected to grow from USD 512 million in 2022 to USD 3,629 million by 2027, at a CAGR of 47.9%.

The fuel cell powertrain market has witnessed rapid development over the past few decades across the world due to the rising demand for low-emission vehicles and increasing vehicle range. During the past few years, various countries around the world have increased their focus on the growth of this industry. Rapid growth in technology and decreasing cost of fuel cells along with the rising prices of petrol and diesel have led to the rapid growth of this market. Governments around the world have started developing infrastructure for Fuel cell powertrain vehicles and are working with OEMs to increase the market for low-emission fuel vehicles. Increased demand for efficient, long range, and low-emission vehicles is expected to boost the Fuel cell powertrain market. Countries around the world are undertaking efforts to reduce emissions from vehicles in the coming decades. FCEVs offer a higher range on a single filling compared to other EVs and are convenient to fill. However, the lack of hydrogen fuelling infrastructure in various regions creates a hurdle to the growth of the market. To enable the growth of the Fuel cell powertrain market.

North America has been one of the leaders in fuel cell development with the help of renowned fuel cell companies in the US and Canada, such as Ballard Power (Canada), Plug Power (US), and Fuel Cell Energy (US). In North America, FCEVs have been introduced in the US, majorly in California. The Corporate Average Fuel Economy (CAFE) law in the US sets certain standards for automakers. For 2020, the CAFE standards are 49 mpg for cars and 25 mpg for trucks. To achieve these standards, car manufacturers are adopting alternative fuel vehicles such as battery electric vehicles, hybrid vehicles, and fuel cell vehicles

Fuel Cell Powertrain Market

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Market Dynamics:

Driver: Better fuel efficiency and increased driving range

FCEVs offer better fuel economy than ICE vehicles. According to the US Department of Energy, the fuel economy of an FCEV is around 63 miles per gallon gasoline equivalent (MPGge), while that of an ICE vehicle is 29 MPGge on highways. Hybridization can improve the fuel economy of an FCEV by up to 3.2%. On urban roads, the fuel economy of an FCEV is around 55 MPGge as compared to 20 MPGge of ICE vehicles. Also, the energy density of diesel is 45.5 megajoules per kilogram (MJ/kg), which is lower than gasoline (45.8 MJ/kg). Hydrogen has an energy density of approximately 120 MJ/kg, which is approximately three times more than diesel or gasoline.

There is a significant difference in the driving range of FCEVs and BEVs on either a full tank or full charge. FCEVs can travel almost 300 miles without refuelling, while the average range of a BEV is around 110 miles with a fully charged battery. The Honda Clarity has the highest EPA driving rating for a zero-emission vehicle in the US. It has a driving range of up to 366 miles. Better fuel efficiency and increased driving range will boost the demand for FCEVs, which will, in turn, drive the fuel cell powertrain market.

Restraint: High flammability and challenges in detection of hydrogen leakage

Fuel cells use hydrogen and oxygen to produce electricity through a chemical reaction. Hydrogen is a highly flammable gas, while oxygen helps other substances burn at lower temperatures. If not handled with care, the fuel can catch fire; hydrogen flames are invisible and can explode. In FCEVs, fuel cells are installed inside the vehicle, and hydrogen gas is stored under pressure. If even a spark of electricity comes in contact with the hydrogen, it could catch fire. In fuel cells, though electricity is produced without combustion, which decreases the chances of a vehicle catching fire, there are several electronic and electrical components in the vehicle that could generate heat or electric sparks. The risk of fire is also high at hydrogen fuel stations.

Additionally, since hydrogen gas is lightweight, an odorant cannot be added to it to detect leaks instantly. The leaked gas is often wasted or could combust. For instance, in June 2019, a hydrogen refuelling station located in Bๆrum, a suburb of Norway exploded, following which, Toyota and Hyundai have halted the sales of FCVs in Norway. Hence, R&D is required to resolve this problem since it can be a major hurdle to the infrastructure of fuelling stations and fuel cell components. Hence, consumers are hesitant to invest in FCEVs, thus restraining market growth for fuel cell powertrain.

Opportunity: Government initiatives for hydrogen infrastructure

With the increasing levels of pollution around the globe, governments are increasingly investing in alternative sources of energy, such as fuel cells. According to the US EPA, in 2015, the transportation sector contributed to 27% of the greenhouse gas emissions in the US, making it the second-largest contributor to greenhouse gas emissions in the country. Governments are taking initiatives, making investments, and promoting the use of fuel cells. For instance, in March 2021, the Indian Ministry of Petroleum and Natural Gas (MoPNG) announced plans to set up solar hydrogen refueling stations at two locations for the demonstration of fuel cell vehicles at tourist sites - Delhi-Agra, Gujarat (Statue of Unity), etc. Along with the development of fuel cell technology, it is important to create a robust infrastructure that can cater to the needs of hydrogen-powered transportation.

Challenge: Increasing demand for BEVs and HEVs

The increasing demand for battery and hybrid electric vehicles is likely to be one of the major challenges for the growth of the fuel cell vehicles market, and by extension, the fuel cell powertrain market. Hatchbacks, sedans, and SUVs are all available in BEV and HEV variants and at lower costs than FCEVs. Customers can select a model as per their requirements and convenience from a number of BEV and HEV options. On the other hand, the number of FCEV models available is limited, with the unavailability of hydrogen fuelling stations another challenge. Moreover, many prominent automotive manufacturers, such as BYD, Tesla, and Volkswagen, are focusing more on the development of BEVs. Apart from this, the high cost of FEVs leads to further hurdles in the growth of their market. The cost of the fuel itself is high, which makes FCEVs costlier. However, the maintenance cost of fuel cells is lower than batteries. The price of the 2021 Toyota Mirai is almost USD 66,000 in the US, whereas the 2021 Tesla Model 3 costs USD 44,490. The huge price difference between battery electric and fuel cell vehicles is a major challenge for the growth of FCEV sales. However, manufacturers and government bodies are taking initiatives and carrying out R&D to decrease the cost of fuel cells further. For instance, according to the Ministry of Trade, Industry, and Energy, the South Korean government and businesses will invest around USD 2.33 billion over the next five years to accelerate the development of the country’s hydrogen fuel cell vehicle ecosystem. The investment will be made as a public-private partnership.

Fuel cell system will have a major share in the fuel cell powertrain market during the forecast period

A fuel cell system is the heart of a fuel cell powertrain system and constitutes parts such as the fuel cell stack, humidifier, air compressor, and fuel processor. The system converts oxygen and hydrogen gas to electricity, which is used to power the electric motor. A fuel cell stack comprises a multitude of single cells that are stacked in a way that the cathode and anode of the adjacent cell are electrically connected. A fuel cell stack produces direct current. The main components of a fuel cell stack are MEAs (membrane electrode assemblies), bipolar plates, gaskets, end plates with fluid connections, and bus plates with electrical connections. All these components form the core part in FEVs which is expected to drive the demand of fuel cell system.

The Asia Oceania fuel cell powertrain market is projected to hold the largest share by 2027.

Asia Oceania is estimated to be the largest market due to growing demand for passenger cars and fuel-efficient vehicles over the years. This region is home to some of the key players in the fuel cell powertrain market, such as Denso Corporation, Shanghai Fuel Cell Vehicle Power System Co., Ltd, Doosan Corporation etc. Even though this region is home to fewer companies in the market compared to other regions such as North America and Europe, the highest number of fuel cell vehicles have been sold here. Among the top sold models are the Hyundai NEXO and the Toyota Mirai, which witnessed sales of 8,900 and 17,940 units respectively in 2021. Around 92% sales of the Hyundai NEXO in 2021 were accounted for by South Korea, while the majority of the Toyota Mirai were sold in Japan.

Fuel Cell Powertrain Market by Region

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Key Market Players

The global fuel cell powertrain market is dominated by major players such as Ballard Power Systems (Canada), Cummins Inc. (US), Denso Corporation (Japan), Robert Bosch GmbH (Germany), and FEV (Germany). These companies offer a wide variety of automotive motors fulfilling all major functions in a vehicle. The key strategies adopted by these companies to sustain their market position are new product developments, expansions, mergers &acquisitions, and partnerships & collaboration.

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2027

Base year considered

2021

Forecast period

2022-2027

Forecast units

Value (USD Million) and Volume (Units)

Segments covered

Component, Drive Type, Vehicle Type, Power Output, H2 Fuel Station, and Region

Geographies covered

Asia Oceania, Europe, and North America

Companies Covered

Ballard Power Systems (Canada), Cummins Inc. (US), Denso Corporation (Japan), Robert Bosch GmbH (Germany), and FEV (Germany)
A total of 17 major company profiles covered and provided

This research report categorizes the fuel cell powertrain market based on component, drive type, vehicle type, power output, h2 fuel station, and region.

Based on the component:

  • Fuel Cell System
  • Battery System
  • Drive System
  • Hydrogen Storage System
  • Others

Based on the Drive Type:

  • Rear-Wheel Drive (RWD)
  • Front-Wheel Drive (FWD)
  • All-Wheel Drive (AWD)

Based on the vehicle type:

  • Passenger Cars
  • Light Commercial Vehicle (LCV)
  • Buses
  • Trucks

Based on the power output:

  • <150 kW
  • 150-250 kW
  • >250kW

Based on the H2 fuel station:

  • Asia Oceania
  • Europe
  • North Amercia

Based on the region:

  • Asia Pacific
    • China
    • Japan
    • Australia
    • South Korea
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Belgium
    • Denmark
    • France
    • Germany
    • Italy
    • Netherlands
    • Norway
    • Spain
    • Sweden
    • Switzerland
    • United Kingdom

Recent Developments

  • In May 2022, Cummins Inc. announced that they will supply PEM fuel cell system to Scania for use in 20 fuel cell electric heavy vehicle.
  • In April 2022, Cummins Inc. announced to develop fuel cell for HyTruck project for that the company is leveraging PEM fuel cell system.
  • In April 2022, Plug Power and Olin Corporation announced to create a joint venture (JV) to produce and market green hydrogen to support growing fuel cell demand in the global hydrogen economy. The first production plant in St. Gabriel, Louisiana will produce 15 tons per day (tpd) of green hydrogen.
  • In April 2022, Nuvera Fuel Cells has received a purchase order and signed a memorandum of understanding with Hytech AS for the use of Nuveraฎ E-45 Fuel Cell Engines for stationary power uses.
  • In September 2021, Ballard Power Systems announced new FCmove™-HD+, with a 100kW power output, is smaller, lighter, more efficient, and lower cost than previous generations, and has been designed to improve ease of vehicle integration. With its compact innovative design, it has been engineered for both engine bay and rooftop configurations, enabling optionality in truck and bus applications.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 31)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 FUEL CELL POWERTRAIN MARKET DEFINITION, BY COMPONENT
           1.2.2 MARKET DEFINITION, BY DRIVE TYPE
           1.2.3 MARKET DEFINITION, BY VEHICLE TYPE
    1.3 INCLUSIONS & EXCLUSIONS
           TABLE 1 INCLUSIONS & EXCLUSIONS
    1.4 MARKET SCOPE
           FIGURE 1 MARKET SEGMENTATION
           1.4.1 YEARS CONSIDERED
    1.5 PACKAGE SIZE
    1.6 CURRENCY
    1.7 STAKEHOLDERS
    1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 RESEARCH DATA
           FIGURE 2 FUEL CELL POWERTRAIN MARKET: RESEARCH DESIGN
           FIGURE 3 RESEARCH DESIGN MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Participants in primary research
                    2.1.2.3 Key industry insights
                    2.1.2.4 Breakdown of primary interviews
           2.1.3 PRIMARY PARTICIPANTS
    2.2 MARKET SIZE ESTIMATION
           FIGURE 4 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 5 MARKET: RESEARCH DESIGN & METHODOLOGY
                    FIGURE 6 MARKET: ILLUSTRATION OF SUPPLY- SIDE REVENUE ESTIMATION
    2.3 FACTOR ANALYSIS
           2.3.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 7 DATA TRIANGULATION
    2.5 ASSUMPTIONS
    2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 48)
    FIGURE 8 FUEL CELL POWERTRAIN: MARKET OVERVIEW
    FIGURE 9 TIMELINE OF FUEL CELL SYSTEMS
    FIGURE 10 FUEL CELL POWERTRAIN MARKET, BY REGION, 2022–2027
    FIGURE 11 PASSENGER CARS PROJECTED TO DOMINATE DURING FORECAST PERIOD (2022–2027)

4 PREMIUM INSIGHTS (Page No. - 53)
    4.1 ATTRACTIVE OPPORTUNITIES IN MARKET
           FIGURE 12 TECHNOLOGICAL ADVANCEMENTS IN AUTOMOTIVE INDUSTRY EXPECTED TO BOOST MARKET
    4.2 MARKET, BY VEHICLE TYPE
           FIGURE 13 PASSENGER CARS PROJECTED TO LEAD FUEL CELL POWERTRAIN MARKET (USD MILLION)
    4.3 MARKET, BY COMPONENT
           FIGURE 14 HYDROGEN STORAGE SYSTEM SEGMENT TO GROW FASTEST BY 2027 (USD MILLION)
    4.4 MARKET, BY POWER OUTPUT
           FIGURE 15 <150 KW POWER OUTPUT SEGMENT TO COMMAND LARGEST SHARE (UNITS)
    4.5 MARKET, BY H2 FUEL STATION
           FIGURE 16 ASIA OCEANIA PROJECTED TO BE LARGEST MARKET FOR H2 FUEL STATIONS (UNITS)
    4.6 MARKET, BY REGION
           FIGURE 17 MARKET IN EUROPE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD (USD MILLION)

5 MARKET OVERVIEW (Page No. - 56)
    5.1 INTRODUCTION
           FIGURE 18 HYDROGEN FUEL CELL ELECTRIC VEHICLE SYSTEM
    5.2 MARKET DYNAMICS
           FIGURE 19 FUEL CELL POWERTRAIN MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Better fuel efficiency and increased driving range
                    5.2.1.2 Operational data
                               TABLE 2 US: FUEL CELL ELECTRIC VEHICLE MODEL COMPARISON
                                          FIGURE 20 BEV VS. FCEV: NATURAL GAS REQUIREMENT FOR 300-MILE TRAVEL
                                          TABLE 3 FCEV VS. BEV: 200- AND 300-MILE RANGE ATTRIBUTE COMPARISON
                                          TABLE 4 BEV CHARGING VS. FCEV HYDROGEN FUELING OF ZERO-EMISSION LIGHT-DUTY VEHICLES
                    5.2.1.3 Decarbonized source of energy
                    5.2.1.4 Fast refueling
           5.2.2 RESTRAINTS
                    5.2.2.1 High flammability and challenges in detection of hydrogen leakage
                               FIGURE 21 AUTO IGNITION TEMPERATURE OF DIFFERENT FUELS
                               FIGURE 22 MINIMUM IGNITION ENERGY FOR VARIOUS FUELS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Low-weight alternative for heavy-duty trucks
                    5.2.3.2 Government initiatives for hydrogen infrastructure
                               FIGURE 23 INITIAL INVESTMENT FOR FUEL INFRASTRUCTURE
                               FIGURE 24 BEV AND FCEV COMPARISON
                               TABLE 5 POLICIES & INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES & HYDROGEN INFRASTRUCTURE
                               TABLE 6 POLICY ANNOUNCEMENT FOR ICE VEHICLE BAN, BY COUNTRY
                               TABLE 7 US DEPARTMENT OF ENERGY FUNDING, 2021
           5.2.4 CHALLENGES
                    5.2.4.1 Increasing demand for BEVs and HEVs
           FIGURE 25 COST CONTRIBUTION OF FUEL CELL COMPONENTS: 1,000 UNITS/ YEAR VS. 500,000 UNITS/YEAR
                    5.2.4.2 Limited infrastructure for fuel cell vehicles
           5.2.5 IMPACT OF MARKET DYNAMICS
                    TABLE 8 FUEL CELL POWERTRAIN: IMPACT OF MARKET DYNAMICS
    5.3 TRENDS AND DISRUPTIONS: MARKET
           FIGURE 26 TRENDS AND DISRUPTIONS: MARKET

6 INDUSTRY TRENDS (Page No. - 70)
    6.1 TECHNOLOGY OVERVIEW
           6.1.1 INTRODUCTION
                    FIGURE 27 KEY COMPONENTS OF FUEL CELL ELECTRIC VEHICLES
           6.1.2 COMPONENTS OF FUEL CELL POWERTRAIN
                    6.1.2.1 Integrated e-axle
                               FIGURE 28 AVL INTEGRATED E-AXLE
                    6.1.2.2 Center drive
                    6.1.2.3 Wheel-selective drive
                               FIGURE 29 FUEL CELL POWERTRAIN APPLICATIONS
           6.1.3 KEY TRENDS IN FUEL CELL TECHNOLOGY
                    6.1.3.1 Use of fuel cell technology in heavy load transportation
                               FIGURE 30 FUEL CELL MASS-MARKET ACCEPTABILITY IN TRANSPORTATION SECTOR, 2016–2050
                    6.1.3.2 Plug-in hybrid fuel cell vehicles
           6.1.4 VALUE CHAIN ANALYSIS
                    FIGURE 31 VALUE CHAIN ANALYSIS
                    6.1.4.1 Fuel cell powertrain component suppliers
                    6.1.4.2 Fuel cell powertrain development
                    6.1.4.3 OEM
           6.1.5 FUEL CELL SUBCLUSTER AND H2 SUBCLUSTER
    6.2 PORTER'S FIVE FORCES ANALYSIS
           FIGURE 32 PORTER'S FIVE FORCES ANALYSIS: MARKET
           TABLE 9 MARKET: IMPACT OF PORTER'S FIVE FORCES
    6.3 ECOSYSTEM ANALYSIS
           FIGURE 33 MARKET: ECOSYSTEM ANALYSIS
           6.3.1 HYDROGEN FUEL SUPPLIERS
           6.3.2 TIER I SUPPLIERS (FUEL CELL AND RELATED COMPONENT PRODUCERS)
           6.3.3 OEMS
           6.3.4 END USERS
                    TABLE 10 MARKET: ROLE OF COMPANIES IN ECOSYSTEM
    6.4 AVERAGE SELLING PRICE ANALYSIS
           FIGURE 34 DECREASE IN COST OF FUEL CELL
           FIGURE 35 FUEL CELL SYSTEM COST, 2006–2025
           FIGURE 36 MARKET: AVERAGE SELLING PRICE ANALYSIS OF COMPONENTS (USD)
    6.5 KEY MARKETS FOR EXPORT/IMPORT
           6.5.1 EUROPE
                    TABLE 11 EUROPE: TOTAL IMPORT/EXPORT OF VEHICLES (UNITS)
           6.5.2 JAPAN
                    TABLE 12 JAPAN: TOTAL IMPORT/EXPORT OF VEHICLES (UNITS)
           6.5.3 CHINA
                    TABLE 13 CHINA: TOTAL IMPORT/EXPORT OF VEHICLES (UNITS)
           6.5.4 US
                    TABLE 14 US: TOTAL IMPORT/EXPORT OF VEHICLES (UNITS)
    6.6 PATENT ANALYSIS
           6.6.1 PATENT OVERVIEW
           6.6.2 PATENT APPLICATION TRENDS
                    FIGURE 37 PATENT APPLICATION TRENDS (2015–2021)
           6.6.3 PATENTS BY OEMS, 2010–2020
                    FIGURE 38 COUNTRY-WISE PATENT ANALYSIS
                    FIGURE 39 TOP PATENT APPLICANTS, 2010–2020
    6.7 CASE STUDY ANALYSIS
           6.7.1 PLANS TO PILOT HYDROGEN FUEL CELL ELECTRIC POWERTRAIN IN BMW X5 IN 2022
           6.7.2 HYUNDAI MOTOR AND H2 ENERGY PARTNER TO OFFER 1,000 HEAVY-DUTY FUEL CELL ELECTRIC TRUCKS
                    TABLE 15 TRUCK SPECIFICATIONS
           6.7.3 NIKOLA AND BOSCH SHOWCASE HYDROGEN-ELECTRIC POWERED TRUCK
           6.7.4 BALLARD POWER SYSTEM ANNOUNCES FCMOVE-HD+ FOR BUSES AND MEDIUM- AND HEAVY-DUTY TRUCKS
    6.8 REGULATORY OVERVIEW
           6.8.1 COUNTRY-WISE HYDROGEN FUEL CELL POWERTRAIN STANDARDS

7 FUEL CELL POWERTRAIN MARKET, BY COMPONENT (Page No. - 89)
    7.1 INTRODUCTION
           FIGURE 40 MARKET, BY COMPONENT, 2022 VS. 2027 (USD MILLION)
           TABLE 16 MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
           TABLE 17 MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
    7.2 OPERATIONAL DATA
           7.2.1 ASSUMPTIONS
           7.2.2 RESEARCH METHODOLOGY
    7.3 FUEL CELL SYSTEM
           7.3.1 NEED FOR SAFETY APPLICATIONS DRIVES SEGMENT
                    TABLE 18 FUEL CELL SYSTEM: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 19 FUEL CELL SYSTEM: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.4 BATTERY SYSTEM
           7.4.1 INCREASED LIFE CYCLE AND SMOOTH OPERATION
                    TABLE 20 BATTERY SYSTEM: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 21 BATTERY SYSTEM: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.5 DRIVE SYSTEM
           7.5.1 DC/DC CONVERTER
           7.5.2 MOTOR
           7.5.3 POWER CONTROL UNIT
           7.5.4 COOLING SYSTEM
           7.5.5 INVERTER
           7.5.6 ENHANCED PERFORMANCE RENDERED BY DRIVE SYSTEMS
                    TABLE 22 DRIVE SYSTEM: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 23 DRIVE SYSTEM: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.6 HYDROGEN STORAGE SYSTEM
           7.6.1 ADVANCEMENTS FOR SAFER MATERIALS WILL BOOST SEGMENT
                    TABLE 24 HYDROGEN STORAGE SYSTEM: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 25 HYDROGEN STORAGE SYSTEM: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.7 OTHERS
           7.7.1 INITIATIVES BY KEY PLAYERS TO IMPROVE PERFORMANCE
                    TABLE 26 OTHER COMPONENTS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 27 OTHER COMPONENTS: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.8 KEY INDUSTRY INSIGHTS

8 FUEL CELL POWERTRAIN MARKET, BY DRIVE TYPE (Page No. - 99)
    8.1 INTRODUCTION
           8.1.1 OPERATIONAL DATA
                    TABLE 28 TOP OEM FUEL CELL MODELS AND DRIVE TYPES
           8.1.2 ASSUMPTIONS
    8.2 FRONT-WHEEL DRIVE (FWD) POWERTRAIN
    8.3 REAR-WHEEL DRIVE (RWD) POWERTRAIN
    8.4 ALL-WHEEL DRIVE (AWD) POWERTRAIN
    8.5 KEY INDUSTRY INSIGHTS

9 FUEL CELL POWERTRAIN MARKET, BY POWER OUTPUT (Page No. - 101)
    9.1 INTRODUCTION
           FIGURE 41 MARKET, BY POWER OUTPUT, 2022 VS. 2027
           TABLE 29 MARKET, BY POWER OUTPUT, 2018–2021 (UNITS)
           TABLE 30 MARKET, BY POWER OUTPUT, 2022–2027 (UNITS)
           9.1.1 OPERATIONAL DATA
                    TABLE 31 POWER OUTPUT OF FUEL CELL VEHICLE MODELS
           9.1.2 ASSUMPTIONS
           9.1.3 RESEARCH METHODOLOGY
    9.2 <150 KW
           9.2.1 GROWING DEMAND FOR FUEL CELL PASSENGER CARS
                    TABLE 32 <150 KW: MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 33 <150 KW: MARKET, BY REGION, 2022–2027 (UNITS)
    9.3 150--250 KW
           9.3.1 INCREASING USE OF HEAVY-DUTY TRUCKS AND BUSES
                    TABLE 34 150–250 KW: MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 35 150–250 KW: MARKET, BY REGION, 2022–2027 (UNITS)
    9.4 >250 KW
           9.4.1 HIGH POWER DEMAND IN COMMERCIAL VEHICLES
                    TABLE 36 >250 KW: MARKET, BY REGION, 2022–2027 (UNITS)
    9.5 KEY INDUSTRY INSIGHTS

10 FUEL CELL POWERTRAIN MARKET, BY VEHICLE TYPE (Page No. - 108)
     10.1 INTRODUCTION
             FIGURE 42 MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)
             TABLE 37 MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
             TABLE 38 MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             10.1.1 OPERATIONAL DATA
                        TABLE 39 TOP OEM FUEL CELL MODELS AND VEHICLE TYPES
             10.1.2 ASSUMPTIONS
             10.1.3 RESEARCH METHODOLOGY
     10.2 PASSENGER CARS
             10.2.1 INCREASING ENVIRONMENTAL CONCERNS WILL DRIVE SEGMENT
                        TABLE 40 PASSENGER CARS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 41 PASSENGER CARS: MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.3 LCV
             10.3.1 MAXIMUM USE OF LCV FOR GOODS TRANSFER
                        TABLE 42 LCV: MARKET, BY REGION, 2018–2021 (USD THOUSAND)
                        TABLE 43 LCV: MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.4 TRUCKS
             TABLE 44 OVERVIEW OF WEIGHT CLASSES
             TABLE 45 MASS DIFFERENCE BETWEEN BASELINE VEHICLE AND FUEL CELL TRUCK VERSION
             TABLE 46 DEMONSTRATION PROJECTS/DEPLOYMENT OF FUEL CELL TRUCKS
             TABLE 47 POWERTRAIN BENCHMARKING FOR TRUCKS >12 TONS
             10.4.1 HEAVY LOAD TRANSPORT OF GOODS AND MATERIALS WILL BOOST DEMAND
                        TABLE 48 TRUCKS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 49 TRUCKS: MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.5 BUSES
             TABLE 50 EXAMPLES OF BUS DEPLOYMENT PROJECTS
             TABLE 51 POTENTIAL MARKET FOR NEW ZERO-EMISSION BUSES PER YEAR ACROSS EUROPE FROM 2022
             10.5.1 DEVELOPMENT OF FUEL CELL POWERTRAIN FOR PUBLIC TRANSPORT OPERATORS
                        TABLE 52 BUSES: MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 53 BUSES: MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.6 KEY INDUSTRY INSIGHTS

11 FUEL CELL POWERTRAIN MARKET, BY H2 FUEL STATION (Page No. - 120)
     11.1 INTRODUCTION
     11.2 RESEARCH METHODOLOGY
             TABLE 54 AUTOMOTIVE HYDROGEN FUEL STATIONS AS OF DECEMBER 2021
             TABLE 55 FUTURE PLANS FOR AUTOMOTIVE HYDROGEN FUEL STATIONS, 2019–2050 (UNITS)
             FIGURE 43 MARKET, BY H2 FUEL STATION, 2022 VS. 2027 (UNITS)
             11.2.1 RAPID DEVELOPMENTS IN FCEV AND EMISSION NORMS
                        TABLE 56 H2 STATIONS: MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 57 H2 STATIONS: MARKET, BY REGION, 2022–2027 (UNITS)
     11.3 ASIA OCEANIA
             11.3.1 JAPAN AND SOUTH KOREA TO PLAY KEY ROLE IN ASIA OCEANIA
                        TABLE 58 ASIA OCEANIA: H2 STATIONS MARKET, BY COUNTRY, 2018–2021 (UNITS)
                        TABLE 59 ASIA OCEANIA: H2 STATIONS MARKET, BY COUNTRY, 2022–2027 (UNITS)
     11.4 EUROPE
             11.4.1 GOVERNMENT POLICIES AND FUNDING BOOST H2 STATIONS IN EUROPE
                        TABLE 60 EUROPE: H2 STATIONS MARKET, BY COUNTRY, 2018–2021 (UNITS)
                        TABLE 61 EUROPE: H2 STATIONS MARKET, BY COUNTRY, 2022–2027 (UNITS)
     11.5 NORTH AMERICA
             11.5.1 DEVELOPMENTS IN FUEL CELL TECHNOLOGY TO BE FOCUSED ON CALIFORNIA
                        TABLE 62 NORTH AMERICA: H2 STATIONS MARKET, BY COUNTRY, 2018–2021 (UNITS)
                        TABLE 63 NORTH AMERICA: H2 STATIONS MARKET, BY COUNTRY, 2022–2027 (UNITS)
     11.6 KEY INDUSTRY INSIGHTS

12 FUEL CELL POWERTRAIN MARKET, BY REGION (Page No. - 129)
     12.1 INTRODUCTION
             FIGURE 44 MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)
             TABLE 64 MARKET, BY REGION, 2018–2021 (USD MILLION)
             TABLE 65 MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.2 ASIA OCEANIA
             FIGURE 45 ASIA OCEANIA: MARKET SNAPSHOT
             TABLE 66 ASIA OCEANIA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 67 ASIA OCEANIA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             12.2.1 CHINA
                        TABLE 68 CHINA: TARGETS, VISIONS, AND PROJECTIONS
                        TABLE 69 CHINA: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 70 CHINA: MARKET - POLICIES AND REGULATIONS
                        12.2.1.1 Increased R&D in China will boost market growth
                                     TABLE 71 CHINA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                     TABLE 72 CHINA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             12.2.2 JAPAN
                        TABLE 73 JAPAN: TARGETS, VISIONS, AND PROJECTIONS
                        TABLE 74 JAPAN: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 75 JAPAN: MARKET - POLICIES AND REGULATIONS
                        12.2.2.1 Government initiatives for fuel cell vehicle development
                                     TABLE 76 JAPAN: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                     TABLE 77 JAPAN: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             12.2.3 SOUTH KOREA
                        TABLE 78 SOUTH KOREA: TARGETS, VISIONS, AND PROJECTIONS
                        FIGURE 46 SOUTH KOREA: PLANNED GOVERNMENT FUNDING FOR AUTOMOTIVE FUEL CELL, 2018–2021 (USD MILLION)
                        FIGURE 47 SOUTH KOREA: TARGET NUMBER OF FUEL CELL VEHICLES (2015–2040)
                        TABLE 79 SOUTH KOREA: MARKET - POLICIES AND REGULATIONS
                        12.2.3.1 Passenger cars segment estimated to be largest
                                     TABLE 80 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                     TABLE 81 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             12.2.4 AUSTRALIA
                        12.2.4.1 Government investment in research and infrastructure
                                     TABLE 82 AUSTRALIA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.3 EUROPE
             TABLE 83 EUROPE: RELEVANT EXPERIENCE/PRODUCTS OF OEMS
             TABLE 84 EUROPE: TARGETS, VISIONS, AND PROJECTIONS
             FIGURE 48 EUROPE: MARKET, 2022 VS. 2027 (USD MILLION)
             TABLE 85 EUROPEAN UNION (EU): FUEL CELL POWERTRAIN PROJECTS
             TABLE 86 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD THOUSAND)
             TABLE 87 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             12.3.1 FRANCE
                        TABLE 88 FRANCE: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 89 FRANCE: MARKET - POLICIES AND REGULATIONS
                        12.3.1.1 French market driven by government initiatives and funding
                                     TABLE 90 FRANCE: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 91 FRANCE: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.2 GERMANY
                        TABLE 92 GERMANY: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 93 GERMANY: MARKET - POLICIES AND REGULATIONS
                        12.3.2.1 Fast-paced development of hydrogen infrastructure
                                     TABLE 94 GERMANY: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 95 GERMANY: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.3 ITALY
                        TABLE 96 ITALY: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 97 ITALY: MARKET - POLICIES AND REGULATIONS
                        12.3.3.1 Focus on electrification of vehicles
                                     TABLE 98 ITALY: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 99 ITALY: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.4 NETHERLANDS
                        TABLE 100 NETHERLANDS: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 101 NETHERLANDS: MARKET - POLICIES AND REGULATIONS
                        12.3.4.1 Government investments boost Dutch fuel cell powertrain market
                                     TABLE 102 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 103 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.5 NORWAY
                        TABLE 104 NORWAY: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 105 NORWAY: MARKET - POLICIES AND REGULATIONS
                        12.3.5.1 Buses segment projected to grow fastest
                                     TABLE 106 NORWAY: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 107 NORWAY: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.6 SWEDEN
                        TABLE 108 SWEDEN: FUEL CELL POWERTRAIN PROJECTS
                        12.3.6.1 EU emission reduction goals will drive market
                                     TABLE 109 SWEDEN: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 110 SWEDEN: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.7 BELGIUM
                        TABLE 111 BELGIUM: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 112 BELGIUM: MARKET - POLICIES AND REGULATIONS
                        12.3.7.1 Reforms and government initiatives can boost market
                                     TABLE 113 BELGIUM: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 114 BELGIUM: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.8 DENMARK
                        TABLE 115 DENMARK: FUEL CELL POWERTRAIN PROJECTS
                        12.3.8.1 Denmark to be key market for adoption of fuel cell buses
                                     TABLE 116 DENMARK: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 117 DENMARK: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.9 SPAIN
                        TABLE 118 SPAIN: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 119 SPAIN: MARKET - POLICIES AND REGULATIONS
                        12.3.9.1 Government plans and investments propel Spanish market
                                     TABLE 120 SPAIN: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 121 SPAIN: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.10 SWITZERLAND
                        TABLE 122 SWITZERLAND: FUEL CELL POWERTRAIN PROJECTS
                        12.3.10.1 Trucks segment projected to hold significant market share
                                     TABLE 123 SWITZERLAND: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 124 SWITZERLAND: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.3.11 UK
                        TABLE 125 UK: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 126 UK: MARKET - POLICIES AND REGULATIONS
                        12.3.11.1 Use of fuel cell double-deck buses likely to boost market
                                     TABLE 127 UK: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 128 UK: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
     12.4 NORTH AMERICA
             FIGURE 49 NORTH AMERICA: MARKET SNAPSHOT
             TABLE 129 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 130 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             12.4.1 CANADA
                        TABLE 131 CANADA: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 132 CANADA: MARKET - POLICIES AND REGULATIONS
                        12.4.1.1 Presence of leading fuel cell suppliers
                                     TABLE 133 CANADA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 134 CANADA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.4.2 MEXICO
                        12.4.2.1 Limited hydrogen infrastructure for market growth
                                     TABLE 135 MEXICO: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)
             12.4.3 US
                        TABLE 136 US: TARGETS, VISIONS, AND PROJECTIONS
                        TABLE 137 US: FUEL CELL POWERTRAIN PROJECTS
                        TABLE 138 US: MARKET - POLICIES AND REGULATIONS
                        12.4.3.1 Trucks segment projected to grow fastest
                                     TABLE 139 US: MARKET, BY VEHICLE TYPE, 2018–2021 (USD THOUSAND)
                                     TABLE 140 US: MARKET, BY VEHICLE TYPE, 2022–2027 (USD THOUSAND)

13 COMPETITIVE LANDSCAPE (Page No. - 202)
     13.1 OVERVIEW
     13.2 MARKET SHARE ANALYSIS, 2021
             FIGURE 50 FUEL CELL POWERTRAIN MARKET SHARE ANALYSIS, 2021
     13.3 REVENUE ANALYSIS OF TOP FIVE PLAYERS
             FIGURE 51 TOP FIVE PLAYERS DOMINATED MARKET FROM 2017 TO 2021
     13.4 COMPETITIVE SCENARIO
             TABLE 141 NEW PRODUCT DEVELOPMENTS
             TABLE 142 DEALS
             TABLE 143 OTHERS
     13.5 COMPETITIVE LEADERSHIP MAPPING
             13.5.1 STARS
             13.5.2 EMERGING LEADERS
             13.5.3 PERVASIVE PLAYERS
             13.5.4 PARTICIPANTS
                        FIGURE 52 FUEL CELL POWERTRAIN MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
     13.6 STRENGTH OF PRODUCT PORTFOLIO
             FIGURE 53 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN MARKET
     13.7 BUSINESS STRATEGY EXCELLENCE
             FIGURE 54 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN FUEL CELL POWERTRAIN MARKET

14 COMPANY PROFILES (Page No. - 221)
(Business Overview, Products Offered, Recent Developments, MnM view, Key strengths/right to win, Strategic choices made, Weaknesses and competitive threats)* 
     14.1 KEY PLAYERS
             14.1.1 CUMMINS INC.
                        TABLE 144 CUMMINS INC.: BUSINESS OVERVIEW
                        FIGURE 55 CUMMINS INC.: COMPANY SNAPSHOT
                        TABLE 145 CUMMINS INC.: PRODUCTS OFFERED
                        TABLE 146 CUMMINS INC.: NEW PRODUCT DEVELOPMENTS
                        TABLE 147 CUMMINS INC.: DEALS
                        TABLE 148 CUMMINS INC.: OTHERS
             14.1.2 BALLARD POWER SYSTEMS
                        TABLE 149 BALLARD POWER SYSTEMS: BUSINESS OVERVIEW
                        FIGURE 56 BALLARD POWER SYSTEMS: COMPANY SNAPSHOT
                        TABLE 150 BALLARD POWER SYSTEMS: PRODUCTS OFFERED
                        TABLE 151 BALLARD POWER SYSTEMS: NEW PRODUCT DEVELOPMENTS
                        TABLE 152 BALLARD POWER SYSTEMS: DEALS
             14.1.3 ROBERT BOSCH GMBH
                        TABLE 153 ROBERT BOSCH GMBH: BUSINESS OVERVIEW
                        FIGURE 57 ROBERT BOSCH GMBH: COMPANY SNAPSHOT
                        TABLE 154 ROBERT BOSCH GMBH: PRODUCTS OFFERED
                        TABLE 155 ROBERT BOSCH GMBH: DEALS
             14.1.4 DENSO CORPORATION
                        TABLE 156 DENSO CORPORATION: BUSINESS OVERVIEW
                        FIGURE 58 DENSO CORPORATION: COMPANY SNAPSHOT
                        TABLE 157 DENSO CORPORATION: PRODUCTS OFFERED
                        TABLE 158 DENSO CORPORATION: DEALS
             14.1.5 FEV EUROPE GMBH
                        TABLE 159 FEV EUROPE GMBH: BUSINESS OVERVIEW
                        TABLE 160 FEV EUROPE GMBH: PRODUCTS OFFERED
                        TABLE 161 FEV EUROPE GMBH: OTHERS
             14.1.6 FCP FUEL CELL POWERTRAIN GMBH
                        TABLE 162 FCP FUEL CELL POWERTRAIN GMBH: BUSINESS OVERVIEW
                        TABLE 163 FCP FUEL CELL POWERTRAIN GMBH: PRODUCTS OFFERED
             14.1.7 ITM POWER
                        TABLE 164 ITM POWER: BUSINESS OVERVIEW
                        FIGURE 59 ITM POWER: COMPANY SNAPSHOT
                        TABLE 165 ITM POWER: PRODUCTS OFFERED
                        TABLE 166 ITM POWER: DEALS
                        TABLE 167 ITM POWER: OTHERS
             14.1.8 CERES POWER
                        TABLE 168 CERES POWER: BUSINESS OVERVIEW
                        FIGURE 60 CERES POWER: COMPANY SNAPSHOT
                        TABLE 169 CERES POWER: PRODUCTS OFFERED
                        TABLE 170 CERES POWER: NEW PRODUCT DEVELOPMENTS
                        TABLE 171 CERES POWER: DEALS
             14.1.9 DELPHI TECHNOLOGIES
                        TABLE 172 DELPHI TECHNOLOGIES: BUSINESS OVERVIEW
                        TABLE 173 DELPHI TECHNOLOGIES: PRODUCTS OFFERED
             14.1.10 AVL LIST GMBH (AVL)
                        TABLE 174 AVL LIST GMBH: BUSINESS OVERVIEW
                        TABLE 175 AVL LIST GMBH: PRODUCTS OFFERED
                        TABLE 176 AVL LIST GMBH: DEALS
             14.1.11 SHANGHAI FUEL CELL VEHICLE POWERTRAIN CO., LTD.
                        TABLE 177 SHANGHAI FUEL CELL VEHICLE POWERTRAIN CO., LTD.: BUSINESS OVERVIEW
                        TABLE 178 SHANGHAI FUEL CELL VEHICLE POWERTRAIN CO., LTD.: PRODUCTS OFFERED
             14.1.12 PLUG POWER
                        TABLE 179 PLUG POWER: BUSINESS OVERVIEW
                        FIGURE 61 PLUG POWER: COMPANY SNAPSHOT
                        TABLE 180 PLUG POWER: PRODUCTS OFFERED
                        TABLE 181 PLUG POWER: NEW PRODUCT DEVELOPMENTS
                        TABLE 182 PLUG POWER: DEALS
                        TABLE 183 PLUG POWER: OTHERS
             14.1.13 NUVERA FUEL CELLS
                        TABLE 184 NUVERA FUEL CELLS: BUSINESS OVERVIEW
                        TABLE 185 NUVERA FUEL CELLS: PRODUCTS OFFERED
                        TABLE 186 NUVERA FUEL CELLS: NEW PRODUCT DEVELOPMENTS
                        TABLE 187 NUVERA FUEL CELLS: DEALS
             14.1.14 NEDSTACK
                        TABLE 188 NEDSTACK: BUSINESS OVERVIEW
                        TABLE 189 NEDSTACK: PRODUCTS OFFERED
                        TABLE 190 NEDSTACK: DEALS
             14.1.15 DOOSAN CORPORATION
                        TABLE 191 DOOSAN CORPORATION: BUSINESS OVERVIEW
                        FIGURE 62 DOOSAN CORPORATION: COMPANY SNAPSHOT
                        TABLE 192 DOOSAN CORPORATION: PRODUCTS OFFERED
                        TABLE 193 DOOSAN CORPORATION: DEALS
                        TABLE 194 DOOSAN CORPORATION: OTHERS
             14.1.16 PROTON POWER SYSTEM
                        TABLE 195 PROTON POWER SYSTEM: BUSINESS OVERVIEW
                        FIGURE 63 PROTON POWER SYSTEM: COMPANY SNAPSHOT
                        TABLE 196 PROTON POWER SYSTEM: PRODUCTS OFFERED
                        TABLE 197 PROTON POWER SYSTEM: DEALS
                        TABLE 198 PROTON POWER SYSTEM: OTHERS
             14.1.17 DANA INCORPORATED
                        TABLE 199 DANA INCORPORATED: BUSINESS OVERVIEW
                        FIGURE 64 DANA INCORPORATED: COMPANY SNAPSHOT
                        TABLE 200 DANA INCORPORATED: PRODUCTS OFFERED
                        TABLE 201 DANA INCORPORATED: DEALS
     14.2 OTHER KEY PLAYERS
             14.2.1 HYUNDAI KEFICO CORPORATION
                        TABLE 202 HYUNDAI KEFICO CORPORATION: BUSINESS OVERVIEW
             14.2.2 PANASONIC
                        TABLE 203 PANASONIC: BUSINESS OVERVIEW
             14.2.3 TORAY INDUSTRIES
                        TABLE 204 TORAY INDUSTRIES: BUSINESS OVERVIEW
             14.2.4 SUNRISE POWER CO., LTD.
                        TABLE 205 SUNRISE POWER CO., LTD.: BUSINESS OVERVIEW
             14.2.5 INTELLIGENT ENERGY
                        TABLE 206 INTELLIGENT ENERGY: BUSINESS OVERVIEW
             14.2.6 POWERCELL SWEDEN AB
                        TABLE 207 POWERCELL SWEDEN AB: BUSINESS OVERVIEW
             14.2.7 SYMBIO
                        TABLE 208 SYMBIO: BUSINESS OVERVIEW
             14.2.8 ELRINGKLINGER AG
                        TABLE 209 ELRINGKLINGER AG: BUSINESS OVERVIEW
             14.2.9 SWISS HYDROGEN POWER
                        TABLE 210 SWISS HYDROGEN POWER: BUSINESS OVERVIEW
             14.2.10 DAIMLER
                        TABLE 211 DAIMLER: BUSINESS OVERVIEW
             14.2.11 FUEL CELL SYSTEM MANUFACTURING LLC.
                        TABLE 212 FUEL CELL SYSTEM MANUFACTURING LLC.: BUSINESS OVERVIEW
*Details on Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies. 

15 APPENDIX (Page No. - 280)
     15.1 KEY INSIGHTS OF INDUSTRY EXPERTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGESTORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
     15.4 AVAILABLE CUSTOMIZATIONS
     15.5 RELATED REPORTS
     15.6 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the fuel cell powertrain market. Extensive primary research was conducted after obtaining an understanding of the fuel cell powertrain market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand- [(in terms of fuel cell vehaicle manufacturers) country-level government associations, and trade associations] and supply-side (fuel cell powertrain system and component providers) across major regions, namely, North America, Europe, and Asia Oceania.

Secondary Research

The secondary sources referred to for this research study include corporate filings (such as annual reports, investor presentations, and financial statements), trade, business, and professional associations, whitepapers and automotive fuel cell and fuel cell powertrain -related journals, certified publications, articles from recognized authors, directories, and databases. Secondary data was collected and analyzed to arrive at the overall market size, which was further validated by primary research. Secondary resources considered  for fuel cell includes Alternative Fuels Data Center (AFDC), Automotive Electronics Council (AEC) , California Fuel Cell Partnership (CFCP), California Hydrogen Business Council (CHBC), Canadian Hydrogen Fuel Cell Association (CHFCA), and other Country-level Automotive Associations.

Primary Research

Extensive primary research was conducted after obtaining an understanding of the fuel cell powertrain market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand- [(in terms of fuel cell vehicle manufacturers) country-level government associations, and trade associations] and supply-side (fuel cell powertrain system and component providers) across major regions, namely, North America, Europe, and Asia Oceania. Approximately 45% and 55% of primary interviews were conducted from the demand and supply side, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and marketing, to provide a holistic viewpoint in the report.

After interacting with industry experts, we also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter expert opinions, led us to the findings as described in the remainder of this report.

Fuel Cell Powertrain Market Size, and Share

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

Market Size Estimation

The bottom-up approach was used to estimate and validate the size of the fuel cell powertrain market. Country-level sales of each vehicle type (passenger cars, LCV, trucks, and buses) were derived through secondary research and primary insights. The sales of FCEVs at the country level are multiplied with the respective ASP of the powertrain to derive the fuel cell powertrain market size, by vehicle type, at the country level. Data from country level, regional level, and global electric vehicle and fuel cell electric vehicles is used to derive the sales of fuel cell electric vehicles at the country level. The database collected by secondary research is verified with the help of extensive primary research. The summation of the country-level fuel cell powertrain market is carried out to derive the regional level market. Further, the summation of the regional level market is carried out to derive the global fuel cell powertrain market size.

Data Triangulation

All percentage shares, splits, and breakdowns were determined using secondary sources and verified by primary sources. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.

Report Objectives

  • To define, describe, and forecast the size of the fuel cell powertrain market, in terms of value (USD million and USD thousand) and volume (units)
  • To define, describe, anxmod forecast the size of the fuel cell powertrain market based on component, drive type, power output, vehicle type, H2 fuel station, and region
  • To segment and forecast the market size, by component (fuel cell system, battery system, hydrogen storage system, drive system, and others)
  • To segment and forecast the market size, by drive type [rear-wheel drive (RWD), front-wheel drive (FWD), and all-wheel drive (AWD)]
  • To segment and qualitatively cover the following power outputs: <150 kW, 150-250 kW, and >250kW
  • To cover the fuel cell powertrain market by vehicle type (passenger cars, LCV, trucks, and buses)
  • To segment and forecast the market size, by H2 fuel station (Asia Oceania, Europe, and
    North America)
  • To segment and forecast the market size, by region (Asia Oceania, Europe, and North America)
  • To understand the market dynamics (drivers, restraints, opportunities, and challenges) of the fuel cell powertrain market
  • To analyze the ranking of key players operating in the fuel cell powertrain market
  • To understand the dynamics of competitors in the fuel cell powertrain market and distinguish them into visionary leaders, innovators, emerging companies, and dynamic differentiators according to their product portfolio strength and business strategies
  • To track and analyze competitive developments, such as new product launches, deals and other developments by key players
  • To analyze opportunities for stakeholders and the competitive landscape for market leaders
  • To analyze and forecast the trends and orientation for fuel cell powertrain market in the global industry.
  • To strategically profile key players and comprehensively analyze their market share and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations in line with the company’s specific needs.

  • Fuel cell powertrain Market, By components at the regional level
  • Fuel cell powertrain Market, By vehicle type at country level

Company Information

  • Profiling of Additional Market Players (Up to 5)
Fuel Cell Powertrain Market Size,  Share & Growth Report
Report Code
AT 7734
Published ON
Jun, 2022
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