Fuel Cell Powertrain Market Size to Surpass USD 11.95 Billion with a Growing CAGR of 48.2% by 2030, Says SNS Insider

Fuel Cell Powertrain Market

Fuel Cell Powertrain Market Size, Share And Segmentation By Component, By Drive Type, By Power Output, By Regions And Global Market Forecast 2023-2030

AUSTIN, TEXAS, UNITED STATES, January 10, 2024 /EINPresswire.com/ — 𝐅𝐮𝐞𝐥 𝐂𝐞𝐥𝐥 𝐏𝐨𝐰𝐞𝐫𝐭𝐫𝐚𝐢𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The Fuel Cell Powertrain Market, estimated at USD 513.92 million in 2022, is projected to grow at a compound annual growth rate (CAGR) of 48.2% to reach USD 11.95 billion by 2030. The fuel cell powertrain market is poised for significant growth in the coming years, driven by increasing environmental concerns, government support for zero-emission vehicles, and technological advancements.

Fuel cell powertrains offer a promising alternative to conventional internal combustion engines, as they produce zero tailpipe emissions and have a longer range than battery electric vehicles.

𝐓𝐨 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.snsinsider.com/sample-request/2252

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐜𝐨𝐩𝐞:        

The global automotive industry is undergoing a paradigm shift towards zero-emission vehicles (ZEVs) to combat climate change and improve air quality. Fuel cell powertrains, with their zero tailpipe emissions and extended range, are well-positioned to capture a significant share of the burgeoning ZEV market. Governments worldwide are implementing comprehensive policies and incentives to promote the adoption of fuel cell vehicles. These measures, including subsidies, tax breaks, and infrastructure investments, are significantly reducing the cost of fuel cell vehicles and accelerating market penetration.   

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

• Robert Bosch (Germany)

• AVID Technology Ltd (UK)

• Delphi Technologies (UK)

• Ballard Power Systems (Canada)

• BMW

• Brown Machine Group (US)

• Ceres Power (UK)

• ITM Power Manufacturers (UK)

• Cummins (US)

• Denso Corporation (Japan)

• Bloom Energy (US)

• SFC Energy (Germany)

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The global fuel cell powertrain market is poised for exponential growth, driven by a confluence of factors, including rising environmental concerns, stringent emission regulations, and advancements in fuel cell technology. With their zero tailpipe emissions and extended range compared to battery electric vehicles, fuel cell electric vehicles (FCEVs) offer a compelling solution for sustainable transportation. As governments worldwide prioritize decarbonization efforts, investments in hydrogen infrastructure are accelerating, paving the way for wider FCEV adoption. Moreover, the declining cost of fuel cell components and increasing efficiency of fuel cell systems are further enhancing the attractiveness of FCEV technology.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:  

The fuel cell system segment is expected to hold the largest market share during the forecast period, owing to its critical role in converting hydrogen into electricity. By vehicle type, the market is segmented into passenger cars, light commercial vehicles, buses, and trucks. The passenger cars segment is expected to be the fastest-growing segment, driven by the rising demand for zero-emission vehicles. By power output, the market is segmented into less than 150 kW, 150-250 kW, and more than 250 kW. The less than 150 kW segment is expected to hold the largest market share during the forecast period, due to its wide application in passenger cars and light commercial vehicles.

𝐁𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭:

• Fuel Cell System

• Battery System

• Drive System

• Hydrogen Storage System

• Others

𝐁𝐲 𝐃𝐫𝐢𝐯𝐞 𝐓𝐲𝐩𝐞:

• Rear-Wheel Drive (RWD)

• Front-Wheel Drive (FWD)

• All-Wheel Drive (AWD)

𝐁𝐲 𝐏𝐨𝐰𝐞𝐫 𝐎𝐮𝐭𝐩𝐮𝐭:

• <150 kW

• 150-250 kW

• >250kW

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The APAC region is poised to emerge as the frontrunner in the global fuel cell powertrain market, driven by a confluence of factors, including stringent environmental regulations, escalating demand for zero-emission vehicles, and supportive government policies. Japan, South Korea, and China are spearheading the adoption of fuel cell technology, with ambitious hydrogen infrastructure development plans and generous subsidies for fuel cell vehicles (FCVs). Japan, in particular, boasts a well-established hydrogen ecosystem, with over 160 hydrogen refueling stations operational and a target of 1,000 stations by 2030. South Korea follows closely with over 40 hydrogen refueling stations and a goal of 1,200 stations by 2040.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.snsinsider.com/checkout/2252

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬:

• The fuel cell powertrain market is undergoing a transformative surge, with key takeaways pointing toward a paradigm shift in the automotive and energy sectors. As governments worldwide intensify their focus on sustainable solutions, fuel cell technology emerges as a frontrunner in achieving clean and efficient energy.

• The market is witnessing a remarkable influx of investments, driving advancements in fuel cell stack efficiency, durability, and cost-effectiveness. Hydrogen fuel cells are gaining prominence as a viable alternative to traditional combustion engines, offering zero-emission transportation solutions.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:

• In September 2023, Toyota and Hyundai Motor Corporation signed a memorandum of understanding to collaborate on fuel cell technology development. The two companies will share intellectual property and work together to develop next-generation fuel cell stacks and systems.

• In September 2023, Hyundai announced that it had developed a new fuel cell stack with 30% higher power density than its previous generation stack. The new stack will be used in the company’s next-generation fuel cell vehicles.

𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global Fuel Cell Powertrain Market Segmentation, By Component

8.1 Fuel Cell System

8.2 Battery System

8.3 Drive System

8.4 Hydrogen Storage System

8.5 Others

9. Global Fuel Cell Powertrain Market Segmentation, By Drive Type

10. Global Fuel Cell Powertrain Market Segmentation, By Power Output

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments

14. Conclusion

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company ‘s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety.

Akash Anand
SNS Insider
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