Fuel Cell Powertrain Market is Segmented By Component (Cell System, Battery System, Drive, Hydrogen Storage System, Others), By Drive (Rear-Wheel Drive (RWD), Front Wheel Drive, All-Wheel Drive (AWD)), By Vehicle (Passenger Vehicle, Buses, Light Commercial Vehicle, Trucks, Others), By Power Outcome (Less than 150kW, 150-250kW, More Than 250kW, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Fuel Cell Powertrain Market Overview
The Global Fuel Cell Powertrain Market is projected to grow at a CAGR of 48.5% during the forecast period (2023-2030).
A fuel cell electric vehicle is an electrically propelled vehicle that uses hydrogen as its energy source to produce electricity in a fuel cell. The energy is transformed into motion by the electric drive. A fuel cell powertrain is an electrically propelled device that converts hydrogen energy into electricity using a fuel cell. Transportation, emergency backup power and material handling are a few uses for fuel cells. Powertrains using fuel cells are very efficient and beneficial to the environment. With no local emissions, the electric fuel cell powertrain is a practical and appealing solution for transportation.
Fuel Cell Powertrain Market Summary
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Metrics |
Details |
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Market CAGR |
48.5% |
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Segments Covered |
By Component, By Drive, By Vehicle, By Power Outcome, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
Asia Pacific |
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Fuel Cell Powertrain Market Dynamics and Trends
Increasing environmental consciousness
As per data, the world's total fossil fuel use in 2021 was close to 490 exajoules. Fossil fuel consumption has been increasing significantly worldwide and the transportation sector is the major consumer of fossil fuels. An increase in fossil fuel consumption has led to an increase in the concentration level of greenhouse gas emissions and air pollutants in the environment. Most of these issues are associated with using conventional engines, ICEs (internal-combustion engines), which primarily depend on hydrocarbon fuels. Many low-polluting cars and fuels have been created to minimize GHG emissions and enhance the environment. Compared to other options, hydrogen fuel cell vehicles have reduced emissions. Thus, the global market for fuel cell powertrains is anticipated to grow rapidly during the projected period due to the viability of its low-emission technology and increasing environmental consciousness in modernity.
Complications associated with hydrogen fuel cells
The fuel cell uses hydrocarbon and oxygen to produce electricity through a chemical reaction. Hydrogen is a highly flammable gas and oxygen helps other substances burn at low temperatures. The fuel can catch fire if not handled with care and hydrogen flames are invisible and explode. Additionally, the hydrogen gas is lightweight an odorant cannot be added to detect leaks instantly. Since such complications associated with hydrogen fuel cells reduces the demand for the respective technology, the aforementioned fact is considered a restraint that hampers the market growth.
Fuel Cell Powertrain Market Segmentation Analysis
The global fuel cell powertrain market is segmented based on component, drive, vehicle, power output and region.
Essentiality of cell systems in the working of fuel cell powertrain
A cell system comprises several single cells arranged so that their cathodes and anodes are electrically coupled. Electricity is generated by the cell system, which also powers the electric motor. Fuel cell powertrain systems are built around a cell system. Gaskets, bipolar plates, end plates with fluid connections and bus plates with electrical connections comprise the bulk of a fuel cell stack. Membrane electrode assemblies are also important parts. The respective parts together comprise the essential portion of FCEVs, which is anticipated to fuel the need for fuel cell technology.
Fuel Cell Powertrain Market Geographical Share
Growing consumer demand for fuel-efficient and eco-friendly vehicles and the presence of major manufacturers
Asia-Pacific is leading in the global fuel cell powertrain market. The region has the largest market share, primarily due to major emerging markets such as China, India, Japan and South Korea. The fuel cell powertrains market in the region is expected to grow as consumer demand for fuel-efficient and eco-friendly vehicles increases. The numerous domestic and foreign fuel cell power train producers can also be credited with the market expansion in the Asia-Pacific.
Fuel Cell Powertrain Market Companies
The major global players include Ballard Power System, Cummins Inc, Denso Corporation, Robert Bosch GmbH, FEV, Ceres Power, Delphi Technologies, Elmelin Ltd, IMT Power Manufactures, NUVERA FUEL CELLS, LLC.
COVID-19 Impact Analysis on Fuel Cell Powertrain Market
By Component
- Cell System
- Battery System
- Drive
- Hydrogen Storage System
- Others
By Drive
- Rear-Wheel Drive (RWD)
- Front Wheel Drive
- All-Wheel Drive (AWD)
By Vehicle
- Passenger Vehicle
- Buses
- Light Commercial Vehicle
- Trucks
- Others
By Power Outcome
- Less than 150kW
- 150-250kW
- More Than 250kW
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- BMW unveiled the technical specifications of the BMW I Hydrogen NEXT powertrain on April 7, 2020. In September, the system debuted in a concept car at the Frankfurt Motor Show. The technology uses fuel cells created in collaboration with Toyota and an overall system and fuel cell stack created by BMW.
- Bosch announced the development of the fuel-cell powertrain with an emphasis on trucks on September 2, 2020 and the business aims to begin manufacturing in 2022–2033. After establishing themselves in trucks, Bosch fuel-cell powertrains will look at applications in passenger vehicles.
- Leading automakers and mobility provider Stellantis, on October 30, 2020, announced that they are introducing a wide range of energy carriers and powertrain technologies, including hydrogen, as part of their commitment to satisfying the broadest range of mobility requirements, particularly beyond electrification.
The global fuel cell powertrain market report would provide approximately 69 tables, 72 figures and 207 Pages.
