Global Automotive Fuel Cell Market Outlook, 2027

Global automotive fuel cell market will grow at a CAGR of 41% by 2027.Proton exchange membrane fuel cell is leading the market with more than 95% value share.

Featured Companies

  • 1. Daimler AG
  • 2. Hyundai
  • 3. Nissan Motor
  • 4. Toyota Motor Corporation
  • 5. Toshiba Corporation
  • 6. Cummins Inc.
  • 7. Ballard Power Systems Inc.
  • 8. Doosan Fuel Cell Co. Limited
  • 9. Plug Power Inc.
  • More...

Automotive fuel cells are electrochemical devices that convert chemical energy in fuels into electrical energy directly, promising power generation with high efficiency and low environmental impact. Automotive fuel cells are unique in terms of the variety of their potential applications; they use different types of fuels, such as hydrogen fuel and methanol fuel.

According to the report title “Global Automotive Fuel Cell Market Outlook, 2027”, publish by Bonafide Research, the automotive fuel cell market is anticipated to grow at a CAGR of 41% in value terms in the forecast period. The diversity of fuel cells is in different stages of development. The most common classification of fuel cells is by the type of electrolyte used in the cells and includes proton exchange membrane fuel cell, direct methanol fuel cell, alkaline fuel cell and phosphoric acid fuel cell. Proton exchange membrane fuel cell is leading the market with more than 95% value share. Nowadays, PEM fuel cells are the best candidates for powering automobiles because they operate at relatively low temperatures and can quickly vary their output to meet shifting power demands.Hydrogen is a clean fuel that, when consumed in automotive fuel cells, it produces only water. Hydrogen can be produced from a diversity of domestic resources, such as natural gas, biomass, and renewable energy like solar and wind. These calibres make it an appealing fuel option for transportation and electricity generation applications. According to the report, the market is segregated into two major fuel types i.e. hydrogen fuel and methanol fuel. The Hydrogen fuel segment is leading the market with more than 98% value market share. By power output, the market is segmented into three parts, i.e. below 100KW, 100KW to 200KW and above 200KW. The below 100KW power output segment is leading the market with more than 55% market share.

Automotive Fuel Cell
Fuel cell vehicles are being developed in various countries because of promise to meet the requirements expected of automobiles in a market increasingly constrained by environmental and resource limitations. Through a combination of policies of various governments, technology advancement and industrial collaboration, fuel cell applications are now entering into a golden era of development. According to the report, by region wise, the automotive fuel cell market is segregated into four major regions i.e. North America, Europe, Asia-Pacific and Latin America, Middle East and Africa. The Asia Pacific region is dominating the market with more than 63% value market share. Follow by North America region. By country, South Korea is leading the automotive fuel cell market with more than 25% market share. There are many prominent companies in the automotive fuel cell market which are leading the market. The companies are Ballard Power Systems Inc, Doosan Fuel Cell Co. Ltd, Plug Power Inc., Hydrogenics and Nuvera Fuel Cells, LLC.

The COVID-19 pandemic has impacted the market as severely as it had impacted the other automotive segments. The market experienced a downfall during the global lockdown; however the automotive fuel cell market recovered rapidly. Fuel cell vehicles and fuel cells are no longer part of experiment in the eyes of the public but it is recognized as one of the key driving technologies for now and the future of mobility.

Major Companies present in the market:
Ballard Power Systems Inc, Doosan Fuel Cell Co. Ltd, Plug Power Inc., Hydrogenics (Cummins Inc.), Nuvera Fuel Cells, LLC, SFC Energy AG, Elringklinger AG, Ceres Power Holdings plc, Powercell Sweden AB, ITM Power PLC, Nedstack Fuel Cell Technology BV, Intelligent Energy Limited, Horizon Fuel Cell Technology (Hong Kong) Limited, AVL List GmbH, Proton Motor Fuel Cell GmbH, Wuhan Tiger Fuel Cell Co., Limited.

Considered in this report
• Geography: Global
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global Automotive Fuel Cell market with its value and forecast along with its segments
• Region-wise automotive fuel cell market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• North America
• Europe
• Asia-Pacific
• Latin America, Middle East and Africa

Types of Electrolyte in the report
• Proton Exchange Membrane Fuel Cell
• Direct Methanol Fuel Cell

Type of Fuel in the report
• Hydrogen Fuel
• Methanol Fuel

By Power Output:
• Below 100KW
• 100KW to 200KW
• Above 200KW

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to fuel cell industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

This report would help you answer the following questions:
1. At what rate the global Automotive Fuel Cell market will grow in forecast period?
2. What are the types of fuel cell?
3. What are the different types fuel used in vehicles?
4. Which electrolyte type is leading the market?
5. What is the impact of COVID-19 on the global Automotive Fuel Cell market?
6. Who are the key players in global Automotive Fuel Cell market?
7. Which segment is leading in by power output type?

What's Inside a Bonafide Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Companies Mentioned

  • Daimler AG
  • Hyundai
  • Nissan Motor
  • Toyota Motor Corporation
  • Toshiba Corporation
  • Cummins Inc.
  • Ballard Power Systems Inc.
  • Doosan Fuel Cell Co. Limited
  • Plug Power Inc.
  • Nuvera Fuel Cells, LLC,
  • SFC Energy AG
  • Elringklinger AG
  • Ceres
  • Powercell Sweden AB
  • ITM Power PLC
  • Nedstack Fuel Cell Technology BV
  • Intelligent Energy Limited
  • Horizon Fuel Cell Technology (Hong Kong) Limited
  • AVL List GmbH
  • Proton Motor Fuel Cell GmbH
  • Wuhan Tiger Fuel Cell Co., Limited.
  • American Honda Motor Co., Inc.
  • BorgWarner Inc.
  • Oorja Corporation (Oorja Fuel CellS)
  • Watt Fuel Cell Corporation

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Report Methodology
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Market Definition
  • 4. Economic /Demographic Snapshot
  • 5. Global Automotive Fuel Cell Market Outlook
  • 5.1. Market Size By Value
  • 5.2. Market Share
  • 5.2.1. By Region
  • 5.2.2. By Electrolyte Type
  • 5.2.3. By Fuel Type
  • 5.2.4. By Power Output
  • 5.2.5. By Country
  • 5.2.6. By Company
  • 6. North America Automotive Fuel Cell Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share
  • 6.2.1. By Country
  • 6.2.2. By Electrolyte Type
  • 6.2.3. By Fuel Type
  • 6.2.4. By Power Output
  • 6.3. US Automotive Fuel Cell Market Outlook
  • 6.3.1. Market Size By Value
  • 6.3.2. Market Share
  • 6.3.2.1. By Electrolyte Type
  • 6.3.2.2. By Fuel Type
  • 6.4. Canada Automotive Fuel Cell Market Outlook
  • 6.4.1. Market Size By Value
  • 6.4.2. Market Share
  • 6.4.2.1. By Electrolyte Type
  • 6.4.2.2. By Fuel Type
  • 7. Europe Automotive Fuel Cell Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share
  • 7.2.1. By Country
  • 7.2.2. By Electrolyte Type
  • 7.2.3. By Fuel Type
  • 7.2.4. By Power Output
  • 7.3. Germany Automotive Fuel Cell Market Outlook
  • 7.3.1. Market Size By Value
  • 7.3.2. Market Share
  • 7.3.2.1. By Electrolyte Type
  • 7.3.2.2. By Fuel Type
  • 7.4. UK Automotive Fuel Cell Market Outlook
  • 7.4.1. Market Size By Value
  • 7.4.2. Market Share
  • 7.4.2.1. By Electrolyte Type
  • 7.4.2.2. By Fuel Type
  • 7.5. France Automotive Fuel Cell Market Outlook
  • 7.5.1. Market Size By Value
  • 7.5.2. Market Share
  • 7.5.2.1. By Electrolyte Type
  • 7.5.2.2. By Fuel Type
  • 7.6. Norway Automotive Fuel Cell Market Outlook
  • 7.6.1. Market Size By Value
  • 7.6.2. Market Share
  • 7.6.2.1. By Electrolyte Type
  • 7.6.2.2. By Fuel Type
  • 7.7. Netherlands Automotive Fuel Cell Market Outlook
  • 7.7.1. Market Size By Value
  • 7.7.2. Market Share
  • 7.7.2.1. By Electrolyte Type
  • 7.7.2.2. By Fuel Type
  • 8. Asia-Pacific Automotive Fuel Cell Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share
  • 8.2.1. By Country
  • 8.2.2. By Electrolyte Type
  • 8.2.3. By Fuel Type
  • 8.2.4. By Power Output
  • 8.3. China Automotive Fuel Cell Market Outlook
  • 8.3.1. Market Size By Value
  • 8.3.2. Market Share
  • 8.3.2.1. By Electrolyte Type
  • 8.3.2.2. By Fuel Type
  • 8.4. Japan Automotive Fuel Cell Market Outlook
  • 8.4.1. Market Size By Value
  • 8.4.2. Market Share
  • 8.4.2.1. By Electrolyte Type
  • 8.4.2.2. By Fuel Type
  • 8.5. South Korea Automotive Fuel Cell Market Outlook
  • 8.5.1. Market Size By Value
  • 8.5.2. Market Share
  • 8.5.2.1. By Electrolyte Type
  • 8.5.2.2. By Fuel Type
  • 8.6. India Automotive Fuel Cell Market Outlook
  • 8.6.1. Market Size By Value
  • 8.6.2. Market Share
  • 8.6.2.1. By Electrolyte Type
  • 8.6.2.2. By Fuel Type
  • 9. South America, Middle East & Africa Automotive Fuel Cell Market Outlook
  • 9.1. Market Size By Value
  • 9.2. Market Share
  • 9.2.1. By Region
  • 9.2.2. By Electrolyte Type
  • 9.2.3. By Fuel Type
  • 9.2.4. By Power Output
  • 9.3. South America Automotive Fuel Cell Market Outlook
  • 9.3.1. Market Size By Value
  • 9.3.2. Market Share
  • 9.3.2.1. By Electrolyte Type
  • 9.3.2.2. By Fuel Type
  • 9.4. Middle East & Africa Automotive Fuel Cell Market Outlook
  • 9.4.1. Market Size By Value
  • 9.4.2. Market Share
  • 9.4.2.1. By Electrolyte Type
  • 9.4.2.2. By Fuel Type
  • 10. Market Dynamics
  • 10.1. Key Drivers
  • 10.2. Key Challenges
  • 11. Market Trends and Developments
  • 11.1. XXXX
  • 11.2. XXXX
  • 11.3. XXXX
  • 11.4. XXXX
  • 12. Company Profiles
  • 12.1. Ballard Power Systems Inc.
  • 12.2. Doosan Fuel Cell Co. Limited
  • 12.3. Plug Power Inc.
  • 12.4. Hydrogenics (Cummins Inc.)
  • 12.5. Nuvera Fuel Cells, LLC,
  • 12.6. SFC Energy AG
  • 12.7. Elringklinger AG
  • 12.8. Ceres Power Holdings plc
  • 12.9. Powercell Sweden AB
  • 12.10. ITM Power PLC
  • 12.11. Nedstack Fuel Cell Technology BV
  • 12.12. Intelligent Energy Limited
  • 12.13. Horizon Fuel Cell Technology (Hong Kong) Limited
  • 12.14. AVL List GmbH
  • 12.15. Proton Motor Fuel Cell GmbH
  • 12.16. Wuhan Tiger Fuel Cell Co., Limited.
  • 12.17. Toshiba Pvt. Ltd.
  • 12.18. Toyota Motor Sales, Inc.
  • 12.19. American Honda Motor Co., Inc.
  • 12.20. Hyundai Motor Company
  • 12.21. Daimler AG
  • 12.22. Nissan
  • 12.23. BorgWarner Inc.
  • 12.24. Oorja Corporation
  • 12.25. Watt Fuel Cell Corporation
  • 13. Strategic Recommendations
  • 14. Disclaimer

List of Tables
Table 1: Top 10 Counties Economic Snapshot 2020
Table 2: Economic Snapshot of Other Prominent Countries 2020
Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 4: Global Automotive Fuel Cell Market Share By Region (2016, 2021 & 2027F)
Table 5: Global Automotive Fuel Cell Market Share By Country (2016, 2021 & 2027F)
Table 6: Global Automotive Fuel Cell Market Share By Company (2020)
Table 7: North America Automotive Fuel Cell Market Share By Country (2016, 2021 & 2027F)
Table 8: Europe Automotive Fuel Cell Market Share By Country (2016, 2021 & 2027F)
Table 9: Asia-Pacific Automotive Fuel Cell Market Share By Country (2016, 2021 & 2027F)
Table 10: South America, Middle East & Africa Automotive Fuel Cell Market Share By Region (2016, 2021 & 2027F)
Table 11: Key Facts of Ballard Power Systems Inc.
Table 12: Key Facts of Doosan Fuel Cell Co. Limited
Table 13: Key Facts of Plug Power Inc.
Table 14: Key Facts of Hydrogenics (Cummins Inc.)
Table 15: Key Facts of Nuvera Fuel Cells, LLC,
Table 16: Key Facts of SFC Energy AG
Table 17: Key Facts of Elringklinger AG
Table 18: Key Facts of Ceres Power Holdings plc
Table 19: Key Facts of Powercell Sweden AB
Table 20: Key Facts of ITM Power PLC
Table 21: Key Facts of Nedstack Fuel Cell Technology BV
Table 22: Key Facts of Intelligent Energy Limited
Table 23: Key Facts of Horizon Fuel Cell Technology (Hong Kong) Limited
Table 24: Key Facts of AVL List GmbH
Table 25: Key Facts of Proton Motor Fuel Cell GmbH
Table 26: Key Facts of Wuhan Tiger Fuel Cell Co., Limited.
Table 27: Key Facts of Toshiba Pvt. Ltd.
Table 28: Key Facts of Toyota Motor Sales, Inc.
Table 29: Key Facts of American Honda Motor Co., Inc.
Table 30: Key Facts of Hyundai Motor Company
Table 31: Key Facts of Daimler AG
Table 32: Key Facts of Nissan
Table 33: Key Facts of BorgWarner Inc.
Table 34: Key Facts of Oorja Corporation
Table 35: Key Facts of Watt Fuel Cell Corporation

List of Figures
Figure 1: Global Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 2: Global Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 3: Global Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 4: Global Automotive Fuel Cell Market Share By Power Output (2016, 2021 & 2027F)
Figure 5: North America Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 6: North America Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 7: North America Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 8: North America Automotive Fuel Cell Market Share By Power Output (2016, 2021 & 2027F)
Figure 9: US Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 10: US Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 11: US Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 12: Canada Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 13: Canada Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 14: Canada Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 15: Europe Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 16: Europe Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 17: Europe Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 18: Europe Automotive Fuel Cell Market Share By Power Output (2016, 2021 & 2027F)
Figure 19: Germany Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 20: Germany Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 21: Germany Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 22: UK Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 23: UK Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 24: UK Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 25: France Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 26: France Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 27: France Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 28: Norway Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 29: Norway Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 30: Norway Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 31: Netherlands Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 32: Netherlands Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 33: Netherlands Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 34: Asia-Pacific Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 35: Asia-Pacific Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 36: Asia-Pacific Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 37: Asia-Pacific Automotive Fuel Cell Market Share By Power Output (2016, 2021 & 2027F)
Figure 38: China Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 39: China Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 40: China Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 41: Japan Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 42: Japan Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 43: Japan Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 44: South Korea Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 45: South Korea Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 46: South Korea Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 47: India Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 48: India Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 49: India Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 50: Latin America, Middle East & Africa Automotive Fuel Cell Market Size By Value 2016 to 2027F (In USD Million)
Figure 51: Latin America, Middle East & Africa Automotive Fuel Cell Market Share By Electrolyte Type (2016, 2021 & 2027F)
Figure 52: Latin America, Middle East & Africa Automotive Fuel Cell Market Share By Fuel Type (2016, 2021 & 2027F)
Figure 53: Latin America, Middle East & Africa Automotive Fuel Cell Market Share By Power Output (2016, 2021 & 2027F)
Figure 54: Market Attractiveness Index, 2021
Figure 55: Market Attractiveness Index, 2027F

Market Research FAQs

The automotive fuel cell market is expected to grow at CAGR of more than 41% in value terms in forecast period.

Proton Exchange Membrane Fuel Cellis leading the market with more than 95% in value global market share.

Asia Pacific region is dominating the market with more than 63% market share in 2021.

South Korea has the highest market share in automotive fuel cell market.

Hydrogen fuel type is leading the market with more than 95% market share.

Ballard Power Systems Inc, Doosan Fuel Cell Co. Ltd, Plug Power Inc., Hydrogenics (Cummins Inc.), Nuvera Fuel Cells, LLC, SFC Energy AG, Elringklinger AG, Ceres Power Holding Plc. and Powercell Sweden AB,are the key players in automotive fuel cell market.
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Global Automotive Fuel Cell Market Outlook, 2027

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