出版：MarketsandMarkets（マーケッツアンドマーケッツ） 出版年月：2024年2月
Automotive Fuel Cell Market – Global Forecast to 2030
自動車用燃料電池市場 : 車両タイプ (バス、トラック、LCV、乗用車)、コンポーネント、燃料タイプ、水素燃料ポイント、走行距離、出力、容量、特殊車両タイプ＆地域別 – 2030年までの世界予測
Automotive Fuel Cell Market by Vehicle Type (Buses, Trucks, LCVs, Passenger Cars), Component, Fuel Type, Hydrogen Fuel Points, Operating Miles, Power, Capacity, Specialized Vehicle Type and Region – Global Forecast to 2030
| ページ数 | 331 |
| 図表数 | 333 |
| 種別 | 英文調査報告書 |
| 価格 |
世界の自動車用燃料電池市場は2024 年の 2 億米ドル規模となり、CAGR 48.0% で成長し、 2030 年までに 21 億米ドルに達するとMarketsandMarketsでは予測しています。
MarketsandMarkets（マーケッツアンドマーケッツ）「自動車用燃料電池市場 : 車両タイプ (バス、トラック、LCV、乗用車)、コンポーネント、燃料タイプ、水素燃料ポイント、走行距離、出力、容量、特殊車両タイプ＆地域別 – 2030年までの世界予測 – Automotive Fuel Cell Market by Vehicle Type (Buses, Trucks, LCVs, Passenger Cars), Component, Fuel Type, Hydrogen Fuel Points, Operating Miles, Power, Capacity, Specialized Vehicle Type and Region – Global Forecast to 2030」は世界の自動車用燃料電池市場を調査し、主要セグメント毎の分析・予測結果を提供します。
主な調査対象セグメント
- 車両タイプ
- バス
- 軽量商用車
- 乗用車
- トラック
- コンポーネント
- 空気圧縮
- 燃料処理装置
- 燃料電池スタック
- 加湿器
- パワーコンディショナー
- 稼働マイル
- 0-250マイル
- 251-500マイル
- 500マイル超
- 出力
- 150kW未満
- 150-250kW
- 250kW超
- 特殊車両タイプ
- 資材運搬用車両
- 冷蔵トラック
- 液体水素燃料拠点
- アジアオセアニア
- 欧州
- 北米
- 燃料タイプ
- 水素
- メタノール
- エタノール
- 地域
- アジアオセアニア
- オーストラリア
- 中国
- 日本
- インド
- 韓国
- 北米
- 米国
- カナダ
- メキシコ
- 欧州
- ベルギー
- デンマーク
- フランス
- ドイツ
- イタリア
- オランダ
- ノルウェー
- スペイン
- スウェーデン
- スイス
- 英国
- アジアオセアニア
Report Overview
The global automotive fuel cell market is projected to grow from USD 0.2 billion in 2024 to USD 2.1 billion by 2030, at a CAGR of 48.0%.
Parameters such as an increase in demand for low emission vehicles and an increase in demand for green mobility will drive the market. In addition, the advancements in hydrogen-powered technology, paired with government support for fuel cell technology, will create new opportunities for this market. Increasing demand for zero-emission vehicles in the market and strong government support has led to many top OEMs invest in the R&D of FCEVs. Hydrogen fuel cells have thus become a fast-growing technology in the past decades. Many new technological developments have taken place, which have increased the demand for automobile fuel cells in the market. Unlike traditional EVs, FCEVs can be used for much longer distances and are often used in long-distance EV commuting. Companies like Toyota, Hyundai, and Honda have been leading the development of this technology for the last two decades.
” Hydrogen will be the most commonly used fuel in FCEVs.”
Hydrogen, naturally occurring in our environment and stored in various forms such as water (H2O), hydrocarbons (e.g., methane – CH4), and organic matter, presents a challenge in terms of efficiently extracting it for use as a fuel. Hydrogen is gaining prominence as a viable alternative fuel derived from diverse domestic resources. Although the hydrogen transportation market is in its early stages, joint efforts from both government and industry are concentrated on achieving clean, cost-effective, and secure hydrogen production and distribution. Hydrogen fuel cells harness the chemical energy of hydrogen to generate electricity, with water being the sole by-product of usage. PEM fuel cells, commonly utilized for automotive purposes, are compatible with fuels like hydrogen, methanol, and ethanol. Hydrogen stands out as the cleanest fuel option for fuel cells in automotive applications. Despite the current limited demand for hydrogen fuel cell vehicles, primarily due to a constrained supply of green hydrogen and the use of fossil fuels in hydrogen production, countries worldwide are initiating green hydrogen projects for various applications. This initiative is expected to boost demand for hydrogen fuel cell vehicles as production scales up, accompanied by the establishment of hydrogen stations across countries. Storage poses a challenge hindering the widespread adoption of hydrogen as a fuel. Due to its low density, hydrogen cannot be stored as easily as fossil fuels and requires compression and cooling before storage. Steam reforming remains the dominant method for hydrogen production in the United States, involving the high-temperature combination of steam with natural gas to extract hydrogen. Alternatively, hydrogen can be produced from water through electrolysis, a more energy-intensive process that offers the advantage of using renewable energy sources such as wind or solar, thereby mitigating harmful emissions associated with other energy production forms. This necessitates specific tanks for storage purposes, further contributing to the cost of using hydrogen fuel cells for automotive applications. The goal is to facilitate the widespread adoption of hydrogen in Fuel Cell Electric Vehicles (FCEVs). Currently, light-duty FCEVs are gradually entering the consumer market in limited quantities, initially in specific regions both domestically and globally. Moreover, the hydrogen market is exhibiting promising growth in various sectors, including buses, material handling equipment (e.g., forklifts), ground support equipment, medium- and heavy-duty trucks, marine vessels, and stationary applications. While hydrogen production may generate emissions affecting air quality, it is crucial to note that the exhaust from an FCEV running on hydrogen comprises only water vapor and warm air, classifying it as a zero-emission vehicle. This has materialized in the introduction of light-duty vehicles to retail consumers and the initial deployment of medium- and heavy-duty buses and trucks in California, with plans for fleet availability expanding to northeastern states..
“North America to have rapid fuel cell demand growth during the forecast period.”
North America has emerged as one of the fastest growing market in fuel cell development, spearheaded by acclaimed companies like Ballard Power (Canada), Plug Power (LIS), and Fuel Cell Energy (US). The US and Canada are actively promoting the growth of Fuel Cell Electric Vehicles (FCEVs), particularly in the commercial vehicle sector. Government support includes performance testing for fuel cell Heavy Commercial Vehicles (HCVs) and buses, with key players like Ballard Power Systems, Hyster-Yale, Plug Power, Cummins, Advent Technologies Holdings, and BorgWarner contributing to the region’s competitive market. The United States is committed to decarbonizing its power sector by 2035, aiming for a 50-52% reduction in carbon emissions compared to 2005 levels and achieving net-zero emissions by 2050. Each fuel cell bus in operation in the US has the potential to annually reduce carbon emissions by 100 tons and eliminate the need for 9,000 gallons of fuel, resulting in significant cost savings of over USD 37,000 per vehicle compared to diesel-fueled buses. Recognizing the importance of fuel cell technology in its national energy strategy, the US government has proposed a USD 2 billion investment in technologies, including fuel cells, to reduce dependence on fossil fuels. California, at the forefront of automotive legislation for emissions reduction, has established hydrogen refueling stations, and the H2USA project aims to advance hydrogen infrastructure, preparing for the widespread adoption of FCEVs. The US Department of Energy’s investment of USD 52.5 million in 31 projects supports the advancement of clean hydrogen technologies and the Hydrogen Energy Earthshot initiative, targeting 700,000 jobs and $140 billion in revenue by 2030. However, the US goal of producing green hydrogen at $1 per kilogram by 2031 may be optimistic, with blue hydrogen and naturally extracted hydrogen gaining attention on political agendas worldwide. Simultaneously, the California Air Resources Board (CARB) is championing zero-emissions vehicles, opening the door for more hydrogen fuel cell vehicles. North America’s prowess in fuel cell technology innovation is attributed to government policies promoting low-emission technologies, business-friendly environments, lower taxes, and incentives for fuel cell vehicle users, fostering significant growth in the automotive fuel cell market.Canada is also taking steps to reduce carbon emissions, with the City of Toronto planning to convert 50% of its fleets to Electric Vehicles (EVs), including a substantial portion designated for long-distance travel using FCEVs. Provinces like BC and Quebec are incentivizing Zero-Emission Vehicle (ZEV) purchases, implementing regulations, and deploying hydrogen fueling infrastructure to promote the adoption of FCEVs.
In-depth interviews were conducted with CEOs, managers, and executives from various key organizations operating in this market.
• By Respondent Type – OEMs – 24% , Tier I – 67% , Tier II & III – 9%
• By Designation – C- level Executives – 33% , Managers – 52% , Executives – 15%
• By Region – North America – 28%, Asia Oceania – 38%,Europe – 34%
Research Coverage
The report covers the automotive fuel cell market, in terms of vehicle type (Passenger Cars , LCV,Bus, Truck), Component (fuel cell stack, fuel processor, power conditioner, air compressor, humidifier), by specialised vehicle type (Material Handling Vehicle, Auxilary Power Unit or Refrigerated Truck), H2 fuel station (Asia Oceania, Europe, and North America), power output (<150kW, 150-250 Kw, >250kw), operating miles (0-250 miles, 250-500 miles, and above 500 miles), propulsion (FCEV,FCHEV), fuel type (Methanol, Ethanol, and others), region (Asia Oceania, Europe, and North America). It covers the competitive landscape and company profiles of the major automotive fuel cell market ecosystem players.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
• The report will help market leaders/new entrants with information on the closest approximations of revenue numbers for the overall automotive fuel cell market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
• The report also helps stakeholders understand the current and future pricing trends of different automotive fuel cell systems based on their capacity.
The report provides insight on the following pointers:
• Analysis of key drivers (better fuel efficiency and increased driving range, rapid increase in investment and development for green hydrogen production, fast refuelling, reduced Oil dependency, lower emissions compared to other vehicles), restraints (highly flammable, hard to detect hydrogen leakage, high initial investment or hydrogen refuelling infrastructure, lower efficiency compared to BEV’s and HEVs), challenges (rising demand for fuel cell vehicles in automotive and transportation sector, fuel cell vans to be an emerging opportunity for OEMs, government initiatives pertaining to hydrogen infrastructure ), and opportunities (high vehicle costs, insufficient hydrogen infrastructure, fast growing demand for BEVS and HEVs), influencing the growth of the authentication and brand protection market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive fuel cell market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the automotive fuel cell market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the automotive fuel cell market.
• Competitive Assessment: In-depth assessment of market ranking, growth strategies, and service offerings of leading players Ballard Power Systems (Canada), Hyster-Yale (US), Plug Power(US) ITM Power(UK) and Cummins (US), among others in automotive fuel cell market.
Table of Contents
1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 MARKET DEFINITION 26
TABLE 1 AUTOMOTIVE FUEL CELL MARKET DEFINITION, BY COMPONENT 26
TABLE 2 AUTOMOTIVE FUEL CELL MARKET DEFINITION, BY VEHICLE TYPE 27
TABLE 3 AUTOMOTIVE FUEL CELL MARKET DEFINITION, BY SPECIALIZED VEHICLE TYPE 27
TABLE 4 AUTOMOTIVE FUEL CELL MARKET DEFINITION, BY POWER OUTPUT 27
TABLE 5 AUTOMOTIVE FUEL CELL MARKET DEFINITION, BY OPERATING MILES 28
TABLE 6 AUTOMOTIVE FUEL CELL MARKET DEFINITION, BY PROPULSION 28
TABLE 7 AUTOMOTIVE FUEL CELL MARKET DEFINITION, BY FUEL TYPE 28
1.2.1 INCLUSIONS AND EXCLUSIONS 29
TABLE 8 INCLUSIONS AND EXCLUSIONS 29
1.3 MARKET SCOPE 30
FIGURE 1 AUTOMOTIVE FUEL CELL MARKET SEGMENTATION 30
1.3.1 REGIONS COVERED 30
1.3.2 YEARS CONSIDERED 31
1.4 CURRENCY CONSIDERED 31
TABLE 9 CURRENCY EXCHANGE RATES 31
1.5 STAKEHOLDERS 32
1.6 SUMMARY OF CHANGES 32
2 RESEARCH METHODOLOGY 33
2.1 RESEARCH DATA 33
FIGURE 2 AUTOMOTIVE FUEL CELL MARKET: RESEARCH DESIGN 33
FIGURE 3 RESEARCH DESIGN MODEL 34
2.1.1 SECONDARY DATA 34
2.1.1.1 Key secondary sources 35
2.1.1.2 Key data from secondary sources 36
2.1.2 PRIMARY DATA 37
2.1.2.1 Primary interviews: demand and supply sides 37
2.1.2.2 Key industry insights and breakdown of primary interviews 38
FIGURE 4 KEY INDUSTRY INSIGHTS 38
FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS 38
2.1.2.3 List of primary participants 39
2.2 MARKET SIZE ESTIMATION 39
FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING 40
2.2.1 BOTTOM-UP APPROACH 41
FIGURE 7 BOTTOM-UP APPROACH 41
2.2.2 TOP-DOWN APPROACH 41
FIGURE 8 TOP-DOWN APPROACH 42
FIGURE 9 AUTOMOTIVE FUEL CELL MARKET ESTIMATION NOTES 42
FIGURE 10 RESEARCH DESIGN AND METHODOLOGY: DEMAND SIDE 43
2.3 DATA TRIANGULATION 44
FIGURE 11 DATA TRIANGULATION 44
FIGURE 12 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES 45
2.4 FACTOR ANALYSIS 46
FIGURE 13 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES 46
2.5 RESEARCH ASSUMPTIONS 47
2.6 RESEARCH LIMITATIONS 48
3 EXECUTIVE SUMMARY 49
FIGURE 14 AUTOMOTIVE FUEL CELL MARKET OVERVIEW 50
FIGURE 15 AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (USD MILLION) 51
FIGURE 16 PASSENGER CAR TO BE LARGEST VEHICLE TYPE DURING FORECAST PERIOD 52
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AUTOMOTIVE FUEL CELL MARKET 53
FIGURE 17 GROWING DEMAND FOR ALTERNATIVE ZERO-EMISSION TRANSPORT OPTIONS TO DRIVE MARKET 53
4.2 AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE 53
FIGURE 18 PASSENGER CAR TO BE LARGEST VEHICLE TYPE DURING 2024–2030 53
4.3 AUTOMOTIVE FUEL CELL MARKET, BY HYDROGEN FUEL POINTS 54
FIGURE 19 ASIA OCEANIA TO BE FASTEST-GROWING SEGMENT DURING 2024–2030 54
4.4 AUTOMOTIVE FUEL CELL MARKET, BY POWER OUTPUT 54
FIGURE 20 150-250 KW POWER OUTPUT TO GROW RAPIDLY DURING FORECAST PERIOD 54
4.5 AUTOMOTIVE FUEL CELL MARKET, BY COMPONENT 55
FIGURE 21 FUEL STACK COMPONENT TO LEAD MARKET DURING FORECAST PERIOD 55
4.6 AUTOMOTIVE FUEL CELL MARKET, BY OPERATING MILES 55
FIGURE 22 251-500 MILES SEGMENT TO LEAD MARKET DURING 2024–2030 55
4.7 AUTOMOTIVE FUEL CELL MARKET, BY REGION 56
FIGURE 23 ASIA OCEANIA TO BE LARGEST MARKET IN 2024 BY VOLUME 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
FIGURE 24 HYDROGEN FUEL CELL ELECTRIC VEHICLE SYSTEM 58
5.2 MARKET DYNAMICS 59
FIGURE 25 AUTOMOTIVE FUEL CELL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 59
5.2.1 DRIVERS 59
5.2.1.1 Better fuel efficiency and driving range than ICE vehicles 59
FIGURE 26 NATURAL GAS REQUIRED TO PROPEL BEV TO 300 MILES VS. FCEV TRAVELING 300 MILES 60
TABLE 10 ATTRIBUTES OF FCEV VS. ADVANCED BEV FOR 200-MILE AND 300-MILE RANGE 60
5.2.1.2 Growing investment in green hydrogen production 61
FIGURE 27 NUMBER OF HYDROGEN FUEL STATIONS IN US (2017–2022) 61
5.2.1.3 Fast refueling 61
TABLE 11 ZERO-EMISSION LIGHT-DUTY VEHICLE REFERENCE COMPARISON: BEV CHARGING VS. FCEV HYDROGEN FUELING 62
5.2.1.4 Reduced oil dependency 62
FIGURE 28 LIQUID OIL CONSUMPTION (MILLION BARRELS PER DAY), 2017–2022 63
TABLE 12 US: GASOLINE AVERAGE PRICING TREND (2018–2024) 63
5.2.1.5 Lower emissions than other vehicles 63
5.2.2 RESTRAINTS 64
5.2.2.1 High flammability 64
FIGURE 29 COMPARISON OF AUTOIGNITION TEMPERATURES OF VARIOUS FUELS 64
5.2.2.2 Hard to detect hydrogen leakages 64
5.2.2.3 High initial investments in hydrogen fueling infrastructure 64
FIGURE 30 DISPENSED FUEL COST BUILDUP FOR FUTURE TRANSPORTATION FUELS 65
FIGURE 31 INITIAL INVESTMENT IN INFRASTRUCTURE FOR VARIOUS FUELS 65
FIGURE 32 COMPARISON OF BEV AND FCEV 66
5.2.2.4 Lower efficiency than BEVs and HEVs 66
FIGURE 33 GLOBAL ELECTRIC VEHICLE SALES, 2019–2023 66
FIGURE 34 COMPARISON OF HYDROGEN AND ELECTRIC VEHICLE DRIVE 67
5.2.3 OPPORTUNITIES 67
5.2.3.1 Rising demand for fuel cell vehicles in automotive & transportation sector 67
5.2.3.1.1 Fuel cell commercial freight truck developments 68
TABLE 13 FUEL CELL COMMERCIAL FREIGHT TRUCK DEVELOPMENTS 68
5.2.3.1.2 Fuel-cell buses worldwide, 2023 68
FIGURE 35 OPERATED FUEL CELL BUSES, 2023 68
5.2.3.2 Growth potential of fuel cell vans for OEMs 69
5.2.3.3 Government initiatives promoting hydrogen infrastructure 69
FIGURE 36 GOVERNMENT-LED HYDROGEN HUB INITIATIVES IN US AND CANADA 70
5.2.3.4 Development of mobile and community hydrogen fueling systems 70
FIGURE 37 MOBILE HYDROGEN-REFUELING STATIONS IN JAPAN 71
5.2.4 CHALLENGES 71
5.2.4.1 High vehicle costs 71
FIGURE 38 COST OF FUEL CELL STACK FOR PRODUCTION VOLUME OF 1,000 UNITS/YEAR VS. 500,000 UNITS/YEAR 72
5.2.4.2 Lack of proper hydrogen infrastructure 72
FIGURE 39 HYDROGEN INFRASTRUCTURE MAINTENANCE COSTS, BY COMPONENT 72
5.2.4.3 Rising demand for BEVs and HEVs 73
TABLE 14 AUTOMOTIVE FUEL CELL MARKET: IMPACT OF MARKET DYNAMICS 73
5.3 EXISTING AND UPCOMING FCEV MODELS 74
TABLE 15 EXISTING AND UPCOMING PASSENGER CAR FCEV MODELS 74
TABLE 16 EXISTING AND UPCOMING COMMERCIAL FCEV MODELS 76
5.4 CASE STUDY ANALYSIS 77
5.4.1 CASE STUDY 1: BALLARD FUEL CELL ZERO-EMISSION BUSES IN LONDON 77
5.4.2 CASE STUDY 2: BALLARD FUEL CELL ZERO-EMISSION TRUCKS IN SHANGHAI 78
5.4.3 CASE STUDY 3: NON-PRECIOUS METAL CATALYST BY BALLARD 78
5.4.4 CASE STUDY 4: FUEL CELL ZERO-EMISSION BUSES BY BALLARD 79
5.4.5 CASE STUDY 5: FUEL-CELL BUSES FOR CITY TRANSIT IN FRANCE 80
5.5 PATENT ANALYSIS 80
FIGURE 40 NUMBER OF PUBLISHED AUTOMOTIVE FUEL CELL PATENTS (2019–2023) 80
FIGURE 41 TOP PATENT APPLICANTS 81
TABLE 17 IMPORTANT PATENT REGISTRATIONS RELATED TO AUTOMOTIVE FUEL CELL MARKET 81
5.6 ECOSYSTEM ANALYSIS 85
FIGURE 42 AUTOMOTIVE FUEL CELL MARKET: ECOSYSTEM ANALYSIS 85
5.6.1 HYDROGEN FUEL SUPPLIERS 85
5.6.2 TIER I SUPPLIERS (FUEL CELL AND RELATED COMPONENT PRODUCERS) 86
5.6.3 OEMS 86
TABLE 18 AUTOMOTIVE FUEL CELL MARKET: ROLE OF COMPANIES IN ECOSYSTEM 86
5.7 SUPPLY CHAIN ANALYSIS 88
FIGURE 43 AUTOMOTIVE FUEL CELL MARKET: SUPPLY CHAIN ANALYSIS 88
5.8 FUEL CELL PRICING ANALYSIS 89
TABLE 19 AUTOMOTIVE FUEL CELL STACK PRICE: REGIONAL PRICE TREND, 2020 VS. 2022 89
5.8.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY VEHICLE TYPE 89
TABLE 20 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY VEHICLE TYPE 89
FIGURE 44 FUEL CELL SYSTEM COST, 2006–2025 90
FIGURE 45 FUEL CELL SYSTEM AND FUEL CELL STACK COST 90
5.9 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 91
FIGURE 46 AUTOMOTIVE FUEL CELL MARKET: NEW REVENUE SOURCES 91
TABLE 21 FUEL CELL BUS SALES AND UPCOMING PROJECTS 91
5.10 ROADMAP OF DEPLOYMENT OF HYDROGEN TECHNOLOGY IN AUTOMOTIVE SECTOR 93
5.11 FCEV LAUNCH SCHEDULED BY MAJOR OEMS 93
FIGURE 47 LAUNCH OF HYDROGEN MODELS 93
5.11.1 HYDROGEN FUEL CELL VEHICLES TO GAIN MOMENTUM ACROSS DIVERSE LANDSCAPES 94
5.12 STAKEHOLDERS’ PLAN IN HYDROGEN-FUELED VEHICLE ECOSYSTEM 94
5.13 BUSINESS MODELS 95
FIGURE 48 BUSINESS MODELS IN AUTOMOTIVE FUEL CELL MARKET 95
5.14 TECHNOLOGY ANALYSIS 96
5.14.1 DIRECT BOROHYDRIDE FUEL CELL 96
FIGURE 49 DIRECT BOROHYDRIDE FUEL CELL WORKING 96
5.14.2 FUEL CELL HYBRID ELECTRIC VEHICLE 97
5.14.3 HYDROGEN INTERNAL COMBUSTION ENGINE 97
5.14.4 NON-PRECIOUS METAL CATALYST-BASED FUEL CELL 97
5.14.5 PACKAGED FUEL CELL SYSTEM MODULE 97
FIGURE 50 TOYOTA’S NEW PACKAGED FUEL CELL SYSTEM MODULE 98
5.14.6 HYDROGENIOUS LIQUID ORGANIC HYDROGEN CARRIER 98
5.14.7 CARBONATE-SUPERSTRUCTURED SOLID FUEL CELL 98
5.15 REGULATORY LANDSCAPE 99
5.15.1 NORTH AMERICA 99
TABLE 22 NORTH AMERICA: POLICIES & INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES & HYDROGEN INFRASTRUCTURE 99
5.15.2 EUROPE 99
TABLE 23 EUROPE: POLICIES & INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES & HYDROGEN INFRASTRUCTURE 99
5.15.3 ASIA OCEANIA 100
TABLE 24 ASIA OCEANIA: POLICIES & INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES & HYDROGEN INFRASTRUCTURE 100
5.15.4 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 101
TABLE 25 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 101
TABLE 26 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 102
TABLE 27 ASIA OCEANIA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 103
5.16 KEY CONFERENCES AND EVENTS IN 2024–2025 104
TABLE 28 KEY CONFERENCES AND EVENTS, 2024–2025 104
5.17 KEY STAKEHOLDERS AND BUYING CRITERIA 104
5.17.1 LCV 104
5.17.2 BUS 104
5.17.3 TRUCK 105
5.17.4 KEY STAKEHOLDERS IN BUYING PROCESS 105
FIGURE 51 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS 105
TABLE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS (%) 105
5.17.5 BUYING CRITERIA 106
FIGURE 52 KEY BUYING CRITERIA FOR AUTOMOTIVE FUEL CELL MARKET 106
TABLE 30 KEY BUYING CRITERIA FOR FUEL CELL VEHICLE TYPES 106
6 AUTOMOTIVE FUEL CELL MARKET, BY COMPONENT 107
6.1 INTRODUCTION 108
FIGURE 53 AUTOMOTIVE FUEL CELL MARKET, BY COMPONENT, 2024–2030 (USD MILLION) 109
TABLE 31 AUTOMOTIVE FUEL CELL MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 109
TABLE 32 AUTOMOTIVE FUEL CELL MARKET, BY COMPONENT, 2024–2030 (USD MILLION) 109
6.2 OPERATIONAL DATA 110
TABLE 33 POPULAR FUEL CELL PROVIDERS WORLDWIDE 110
FIGURE 54 FUEL CELL POWERTRAIN 111
6.3 FUEL STACK 111
6.3.1 STRINGENT EMISSION REGULATIONS AND GOVERNMENT INCENTIVES TO DRIVE MARKET 111
TABLE 34 FUEL STACK: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (USD MILLION) 112
TABLE 35 FUEL STACK: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (USD MILLION) 112
6.4 FUEL PROCESSOR 112
6.4.1 RAPID GROWTH OF FUEL CELL TECHNOLOGIES IN ASIA OCEANIA AND NORTH AMERICA TO DRIVE MARKET 112
TABLE 36 FUEL PROCESSOR: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (USD MILLION) 113
TABLE 37 FUEL PROCESSOR: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (USD MILLION) 113
6.5 POWER CONDITIONER 113
6.5.1 PRESENCE OF LEADING FCEV MANUFACTURERS IN ASIA OCEANIA TO DRIVE MARKET 113
TABLE 38 POWER CONDITIONER: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (USD MILLION) 114
TABLE 39 POWER CONDITIONER: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (USD MILLION) 114
6.6 AIR COMPRESSOR 114
6.6.1 GROWING ADOPTION OF FUEL CELL BUSES IN NORTH AMERICA TO DRIVE MARKET 114
TABLE 40 AIR COMPRESSOR: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (USD MILLION) 115
TABLE 41 AIR COMPRESSOR: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (USD MILLION) 115
6.7 HUMIDIFIER 115
6.7.1 INCREASING DEMAND FOR FCEVS IN EUROPE TO DRIVE MARKET 115
TABLE 42 HUMIDIFIER: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (USD MILLION) 116
TABLE 43 HUMIDIFIER: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (USD MILLION) 116
6.8 KEY PRIMARY INSIGHTS 116
7 AUTOMOTIVE FUEL CELL MARKET, BY FUEL TYPE 117
7.1 INTRODUCTION 117
TABLE 44 COMPARISON OF FUEL TYPES USED IN FUEL CELLS AND LITHIUM-ION BATTERIES 117
7.2 HYDROGEN 118
7.3 METHANOL 119
7.4 ETHANOL 119
7.5 KEY PRIMARY INSIGHTS 120
8 AUTOMOTIVE FUEL CELL MARKET, BY HYDROGEN FUEL POINTS 121
8.1 INTRODUCTION 122
FIGURE 55 INFRASTRUCTURE COST COMPARISON FOR FCEV AND BEV 122
FIGURE 56 AUTOMOTIVE HYDROGEN FUEL POINTS MARKET, BY REGION, 2024–2030 (UNITS) 123
TABLE 45 HYDROGEN FUEL POINTS: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (UNITS) 123
TABLE 46 HYDROGEN FUEL POINTS: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (UNITS) 123
8.2 OPERATIONAL DATA 124
TABLE 47 NUMBER OF HYDROGEN FUEL POINTS, BY COUNTRY (DECEMBER 2023) 124
8.3 ASIA OCEANIA 125
TABLE 48 ASIA OCEANIA: AUTOMOTIVE HYDROGEN FUEL POINTS MARKET, BY COUNTRY, 2020–2023 (UNITS) 125
TABLE 49 ASIA OCEANIA: AUTOMOTIVE HYDROGEN FUEL POINTS MARKET, BY COUNTRY, 2024–2030 (UNITS) 126
8.4 EUROPE 126
TABLE 50 EUROPE: AUTOMOTIVE HYDROGEN FUEL POINTS MARKET, BY COUNTRY, 2020–2023 (UNITS) 127
TABLE 51 EUROPE: AUTOMOTIVE HYDROGEN FUEL POINTS MARKET, BY COUNTRY, 2024–2030 (UNITS) 127
8.5 NORTH AMERICA 128
TABLE 52 NORTH AMERICA: AUTOMOTIVE HYDROGEN FUEL POINTS MARKET, BY COUNTRY, 2020–2023 (UNITS) 128
TABLE 53 NORTH AMERICA: AUTOMOTIVE HYDROGEN FUEL POINTS MARKET, BY COUNTRY, 2024–2030 (UNITS) 129
8.6 KEY PRIMARY INSIGHTS 129
9 AUTOMOTIVE FUEL CELL MARKET, BY OPERATING MILES 130
9.1 INTRODUCTION 131
FIGURE 57 AUTOMOTIVE FUEL CELL MARKET, BY OPERATING MILES, 2024–2030 (THOUSAND UNITS) 132
TABLE 54 AUTOMOTIVE FUEL CELL MARKET, BY OPERATING MILES, 2020–2023 (THOUSAND UNITS) 132
TABLE 55 AUTOMOTIVE FUEL CELL MARKET, BY OPERATING MILES, 2024–2030 (THOUSAND UNITS) 132
9.2 OPERATIONAL DATA 133
TABLE 56 POPULAR FCEVS WORLDWIDE, BY OPERATING MILES 133
9.3 0–250 MILES 134
9.3.1 NORTH AMERICA AND ASIA OCEANIA TO DRIVE MARKET 134
TABLE 57 0-250 MILES: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 134
TABLE 58 0-250 MILES: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 134
9.4 251–500 MILES 135
9.4.1 CONSIDERABLE RANGE ACHIEVABLE ON SINGLE FUELING TO DRIVE MARKET 135
TABLE 59 BESTSELLING FCEVS WITH 251–500 MILES RANGE 135
TABLE 60 251–500 MILES: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 136
TABLE 61 251–500 MILES: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 136
9.5 ABOVE 500 MILES 136
9.5.1 RESILIENCE IN DIFFERENT LOAD CYCLES TO DRIVE MARKET 136
TABLE 62 ABOVE 500 MILES: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 137
TABLE 63 ABOVE 500 MILES: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 137
9.6 KEY PRIMARY INSIGHTS 137
10 AUTOMOTIVE FUEL CELL MARKET, BY POWER OUTPUT 138
10.1 INTRODUCTION 139
FIGURE 58 AUTOMOTIVE FUEL CELL MARKET, BY POWER OUTPUT, 2024–2030 (THOUSAND UNITS) 140
TABLE 64 AUTOMOTIVE FUEL CELL MARKET, BY POWER OUTPUT, 2020–2023 (THOUSAND UNITS) 140
TABLE 65 AUTOMOTIVE FUEL CELL MARKET, BY POWER OUTPUT, 2024–2030 (THOUSAND UNITS) 140
10.2 OPERATIONAL DATA 141
TABLE 66 POPULAR FCEVS WORLDWIDE, BY POWER OUTPUT 141
10.3 <150 KW 142
10.3.1 GROWING DEMAND FOR FUEL CELL PASSENGER CARS TO DRIVE MARKET 142
TABLE 67 <150 KW: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 142
TABLE 68 <150 KW: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 142
10.4 150–250 KW 143
10.4.1 GROWING DEMAND FOR HEAVY-DUTY TRUCKS AND BUSES TO DRIVE MARKET 143
TABLE 69 150–250 KW: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 143
TABLE 70 150–250 KW: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 143
10.5 >250 KW 144
10.5.1 HIGH DEMAND FOR LONG-HAUL TRUCKING TO DRIVE MARKET 144
TABLE 71 >250 KW: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 144
TABLE 72 >250 KW: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 144
10.6 KEY PRIMARY INSIGHTS 145
11 AUTOMOTIVE FUEL CELL MARKET, BY PROPULSION 146
11.1 INTRODUCTION 147
FIGURE 59 AUTOMOTIVE FUEL CELL MARKET, BY PROPULSION, 2024–2030 (THOUSAND UNITS) 147
TABLE 73 AUTOMOTIVE FUEL CELL MARKET, BY PROPULSION, 2020–2023 (THOUSAND UNITS) 148
TABLE 74 AUTOMOTIVE FUEL CELL MARKET, BY PROPULSION, 2024–2030 (THOUSAND UNITS) 148
11.2 OPERATIONAL DATA 148
TABLE 75 POPULAR FCEV AND FCHEV MODEL LAUNCHES 148
11.3 FCHEV 149
11.3.1 SMOOTH POWER DELIVERY REDUCING STRESS ON FUEL CELLS TO DRIVE MARKET 149
11.4 FCEV 149
11.4.1 HIGH DEMAND FOR SUSTAINABLE AND ZERO-EMISSION TRANSPORTATION TO DRIVE MARKET 149
11.5 KEY PRIMARY INSIGHTS 150
12 AUTOMOTIVE FUEL CELL MARKET, BY SPECIALIZED VEHICLE TYPE 151
12.1 INTRODUCTION 151
12.2 MATERIAL HANDLING VEHICLE 151
TABLE 76 COMPARISON OF POLYMER ELECTROLYTE MEMBRANE (PEM) FUEL CELL AND BATTERY-POWERED FORKLIFTS AND PALLET JACKS 152
12.3 AUXILIARY POWER UNIT FOR REFRIGERATED TRUCKS 153
12.4 KEY PRIMARY INSIGHTS 153
13 AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE 154
13.1 INTRODUCTION 155
TABLE 77 TABLE OF COMPARISON OF DIFFERENT TYPES OF HYDROGEN VEHICLES 156
FIGURE 60 AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024-2030 (THOUSAND UNITS) 157
TABLE 78 AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS) 157
TABLE 79 AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS) 157
13.2 OPERATIONAL DATA 158
TABLE 80 POTENTIAL MARKET FOR NEW ZERO-EMISSION BUSES PER YEAR ACROSS EUROPE 158
13.3 PASSENGER CAR 159
13.3.1 GROWING ENVIRONMENTAL CONCERNS, STRICTER EMISSION REGULATIONS, AND ADVANCEMENTS IN TECHNOLOGY TO DRIVE MARKET 159
TABLE 81 PASSENGER CAR: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 160
TABLE 82 PASSENGER CAR: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 160
13.4 LCV 161
13.4.1 RISING DEMAND FOR LAST MILE DELIVERY TO DRIVE MARKET 161
TABLE 83 LCV: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 161
TABLE 84 LCV: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 161
13.5 BUS 162
13.5.1 SURGING URBAN AIR QUALITY CONCERNS AND RAPID REFUELING ADVANCEMENTS TO DRIVE MARKET 162
TABLE 85 EXAMPLES OF BUS DEPLOYMENT PROJECTS 163
TABLE 86 BUS: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 163
TABLE 87 BUS: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 164
13.6 TRUCK 164
13.6.1 EXPANDING HYDROGEN INFRASTRUCTURE AND INCREASING GOVERNMENT INCENTIVES TO DRIVE MARKET 164
TABLE 88 OVERVIEW OF VEHICLE WEIGHT CLASSES 165
TABLE 89 MASS DIFFERENCE BETWEEN BASELINE VEHICLE AND ITS FUEL CELL TRUCK VERSION 166
TABLE 90 DEMONSTRATION PROJECTS/DEPLOYMENT OF FUEL CELL TRUCKS 166
TABLE 91 MAJOR FUEL CELL TRUCK PROTOTYPES 167
TABLE 92 POWERTRAIN BENCHMARKING FOR TRUCKS >12 TONS 167
TABLE 93 TRUCK: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 168
TABLE 94 TRUCK: AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 168
13.7 KEY PRIMARY INSIGHTS 168
14 AUTOMOTIVE FUEL CELL MARKET, BY REGION 169
14.1 INTRODUCTION 170
FIGURE 61 AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (USD MILLION) 171
TABLE 95 AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (USD MILLION) 171
TABLE 96 AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (USD MILLION) 171
TABLE 97 AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 172
TABLE 98 AUTOMOTIVE FUEL CELL MARKET, BY REGION, 2024–2030 (THOUSAND UNITS) 172
TABLE 99 STEPS TAKEN BY MAJOR COUNTRIES TO BOOST AUTOMOTIVE FUEL CELL MARKET 172
14.2 ASIA OCEANIA 175
FIGURE 62 ASIA OCEANIA: AUTOMOTIVE FUEL CELL MARKET SNAPSHOT 176
TABLE 100 ASIA OCEANIA AUTOMOTIVE FUEL CELL MARKET: UPCOMING PROJECTS 177
TABLE 101 ASIA OCEANIA: AUTOMOTIVE FUEL CELL MARKET, BY COUNTRY, 2020–2023 (THOUSAND UNITS) 178
TABLE 102 ASIA OCEANIA: AUTOMOTIVE FUEL CELL MARKET, BY COUNTRY, 2024–2030 (THOUSAND UNITS) 178
14.2.1 CHINA 178
14.2.1.1 Emphasis on utilizing industrial by-product hydrogen to drive market 178
TABLE 103 CHINA: TARGETS, VISIONS, AND PROJECTIONS 179
TABLE 104 CHINA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 180
TABLE 105 CHINA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 180
14.2.2 JAPAN 180
14.2.2.1 Plans to increase production of hydrogen to drive market 180
TABLE 106 JAPAN: TARGETS, VISIONS, AND PROJECTIONS 181
TABLE 107 JAPAN: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 181
TABLE 108 JAPAN: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 181
14.2.3 SOUTH KOREA 182
14.2.3.1 Transition to hydrogen economy to drive market 182
TABLE 109 SOUTH KOREA: TARGETS, VISIONS, AND PROJECTIONS 182
TABLE 110 SOUTH KOREA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 183
TABLE 111 SOUTH KOREA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 183
14.2.4 AUSTRALIA 183
14.2.4.1 Government investment in hydrogen ecosystem to drive market 183
TABLE 112 AUSTRALIA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 184
TABLE 113 AUSTRALIA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 184
14.2.5 INDIA 185
14.2.5.1 Initiatives by government for green transportation to drive market 185
TABLE 114 INDIA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 185
TABLE 115 INDIA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 185
14.3 EUROPE 186
TABLE 116 EUROPE: RELEVANT EXPERIENCE/PRODUCTS OF OEMS 188
TABLE 117 EUROPE: TARGETS, VISIONS, AND PROJECTIONS 188
FIGURE 63 EUROPE: AUTOMOTIVE FUEL CELL MARKET, 2024–2030 (THOUSAND UNITS) 189
TABLE 118 EUROPEAN AUTOMOTIVE FUEL CELL MARKET: ONGOING PROJECTS 190
TABLE 119 EUROPE: AUTOMOTIVE FUEL CELL MARKET, BY COUNTRY, 2020–2023 (THOUSAND UNITS) 193
TABLE 120 EUROPE: AUTOMOTIVE FUEL CELL MARKET, BY COUNTRY, 2024–2030 (THOUSAND UNITS) 194
14.3.1 BELGIUM 194
14.3.1.1 Tax incentives to drive market 194
TABLE 121 BELGIUM: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 195
TABLE 122 BELGIUM: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 195
14.3.2 DENMARK 196
14.3.2.1 Investments in hydrogen infrastructure to drive market 196
TABLE 123 DENMARK: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 196
TABLE 124 DENMARK: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 197
14.3.3 FRANCE 197
14.3.3.1 Presence of major OEM fleets to drive market 197
TABLE 125 FRANCE: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 198
TABLE 126 FRANCE: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 198
14.3.4 GERMANY 198
14.3.4.1 Fast-paced developments in hydrogen infrastructure to drive market 198
TABLE 127 GERMANY: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 199
TABLE 128 GERMANY: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 199
14.3.5 ITALY 200
14.3.5.1 Focus on developing fuel cell technology to drive market 200
TABLE 129 ITALY: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 200
TABLE 130 ITALY: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 201
14.3.6 NETHERLANDS 201
14.3.6.1 Dutch Hydrogen Coalition to drive market 201
TABLE 131 NETHERLANDS: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 202
TABLE 132 NETHERLANDS: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 202
14.3.7 NORWAY 202
14.3.7.1 Robust fueling infrastructure plans to drive market 202
TABLE 133 NORWAY: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 203
TABLE 134 NORWAY: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 204
14.3.8 SWEDEN 204
14.3.8.1 Advancement in fuel cells to drive market 204
TABLE 135 SWEDEN: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 205
TABLE 136 SWEDEN: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 205
14.3.9 SPAIN 205
14.3.9.1 Government plans and investments to drive market 205
TABLE 137 SPAIN: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 206
TABLE 138 SPAIN: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 206
14.3.10 SWITZERLAND 207
14.3.10.1 Ending tax exemption for electric cars to drive market 207
TABLE 139 SWITZERLAND: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 207
TABLE 140 SWITZERLAND: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 207
14.3.11 UK 208
14.3.11.1 Plan for zero-emission public transport to drive market 208
TABLE 141 UK: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 208
TABLE 142 UK: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 209
14.4 NORTH AMERICA 209
FIGURE 64 NORTH AMERICA: AUTOMOTIVE FUEL CELL MARKET SNAPSHOT 210
TABLE 143 NORTH AMERICAN AUTOMOTIVE FUEL CELL MARKET: UPCOMING PROJECTS 211
TABLE 144 NORTH AMERICA: AUTOMOTIVE FUEL CELL MARKET, BY COUNTRY, 2020–2023 (THOUSAND UNITS) 212
TABLE 145 NORTH AMERICA: AUTOMOTIVE FUEL CELL MARKET, BY COUNTRY, 2024–2030 (THOUSAND UNITS) 212
14.4.1 CANADA 212
14.4.1.1 Inclusion of benefits in tax credit to drive market 212
TABLE 146 CANADA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 213
TABLE 147 CANADA: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 213
14.4.2 MEXICO 214
14.4.2.1 Shift to zero-emission transport alternative to drive market 214
TABLE 148 MEXICO: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 214
TABLE 149 MEXICO: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 214
14.4.3 US 215
14.4.3.1 Government investment in green hydrogen to drive market 215
TABLE 150 US: TARGETS, VISIONS, AND PROJECTIONS 215
TABLE 151 US: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS) 216
TABLE 152 US: AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 216
15 COMPETITIVE LANDSCAPE 217
15.1 OVERVIEW 217
15.2 MARKET RANKING ANALYSIS 217
FIGURE 65 AUTOMOTIVE FUEL CELL MARKET RANKING ANALYSIS (OEMS), 2023 217
FIGURE 66 AUTOMOTIVE FUEL CELL MARKET RANKING ANALYSIS (COMPONENT PROVIDERS), 2023 217
15.3 KEY PLAYERS’ STRATEGIES, 2020–2023 219
TABLE 153 KEY PLAYERS’ STRATEGIES, 2020–2023 219
FIGURE 67 REVENUE ANALYSIS OF TOP PUBLIC/LISTED PLAYERS IN AUTOMOTIVE FUEL CELL MARKET DURING LAST 5 YEARS 220
15.4 COMPANY EVALUATION MATRIX 220
15.4.1 STARS 220
15.4.2 EMERGING LEADERS 221
15.4.3 PERVASIVE PLAYERS 221
15.4.4 PARTICIPANTS 221
FIGURE 68 AUTOMOTIVE FUEL CELL MARKET: COMPANY EVALUATION MATRIX (TOP COMPONENT PROVIDERS), 2023 221
15.5 COMPANY FOOTPRINT (FUEL CELL MANUFACTURERS), 2023 222
TABLE 154 AUTOMOTIVE FUEL CELL MARKET: COMPANY FOOTPRINT 222
15.6 COMPANY APPLICATION FOOTPRINT (FUEL CELL MANUFACTURERS), 2023 223
TABLE 155 AUTOMOTIVE FUEL CELL MARKET: COMPANY APPLICATION FOOTPRINT 223
15.7 COMPANY REGIONAL FOOTPRINT (FUEL CELL MANUFACTURERS), 2023 224
TABLE 156 AUTOMOTIVE FUEL CELL MARKET: REGIONAL FOOTPRINT 224
FIGURE 69 AUTOMOTIVE FUEL CELL MARKET: COMPANY EVALUATION MATRIX (OEMS), 2023 225
15.8 STARTUP EVALUATION MATRIX 226
15.8.1 PROGRESSIVE COMPANIES 226
15.8.2 RESPONSIVE COMPANIES 226
15.8.3 DYNAMIC COMPANIES 226
15.8.4 STARTING BLOCKS 226
FIGURE 70 AUTOMOTIVE FUEL CELL MARKET: START-UP MATRIX, 2023 227
15.8.5 COMPETITIVE BENCHMARKING 228
TABLE 157 LIST OF KEY STARTUPS/SMES 228
TABLE 158 COMPETITIVE BENCHMARKING OF START-UPS/SMES 228
15.9 COMPETITIVE SCENARIO 229
15.9.1 DEALS 229
TABLE 159 AUTOMOTIVE FUEL CELL MARKET: DEALS, 2020–2023 229
15.9.2 PRODUCT LAUNCHES/DEVELOPMENTS 231
TABLE 160 AUTOMOTIVE FUEL CELL MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, 2020–2023 231
15.9.3 EXPANSIONS 232
TABLE 161 AUTOMOTIVE FUEL CELL MARKET: EXPANSIONS, 2020–2023 232
16 COMPANY PROFILES 233
(Business overview, Products offered, Recent developments & MnM View)*
16.1 KEY PLAYERS (OEMS) 233
16.1.1 TOYOTA MOTOR CORPORATION 233
TABLE 162 TOYOTA MOTOR CORPORATION: COMPANY OVERVIEW 233
FIGURE 71 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT 234
FIGURE 72 TOYOTA MOTOR CORPORATION: GLOBAL DATA BY REGION 235
TABLE 163 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED 235
TABLE 164 TOYOTA MOTOR CORPORATION: PRODUCT DEVELOPMENTS 236
TABLE 165 TOYOTA MOTOR CORPORATION: DEALS 237
TABLE 166 TOYOTA MOTOR CORPORATION: EXPANSIONS 237
16.1.2 HYUNDAI GROUP 239
TABLE 167 HYUNDAI GROUP: COMPANY OVERVIEW 239
FIGURE 73 HYUNDAI GROUP: COMPANY SNAPSHOT 240
TABLE 168 HYUNDAI GROUP: PRODUCTS OFFERED 240
TABLE 169 HYUNDAI GROUP: PRODUCT LAUNCHES 241
TABLE 170 HYUNDAI GROUP: DEALS 241
16.1.3 HONDA 244
TABLE 171 HONDA: COMPANY OVERVIEW 244
FIGURE 74 HONDA: COMPANY SNAPSHOT 245
TABLE 172 HONDA: PRODUCTS OFFERED 245
TABLE 173 HONDA: PRODUCT DEVELOPMENTS 246
TABLE 174 HONDA: DEALS 246
16.1.4 GENERAL MOTORS 248
TABLE 175 GENERAL MOTORS: COMPANY OVERVIEW 248
FIGURE 75 GENERAL MOTORS: COMPANY SNAPSHOT 249
FIGURE 76 GENERAL MOTORS: FUEL CELL MANUFACTURING CAPACITY 250
TABLE 176 GENERAL MOTORS: DEALS 251
16.1.5 STELLANTIS 253
TABLE 177 STELLANTIS: COMPANY OVERVIEW 253
FIGURE 77 STELLANTIS: COMPANY SNAPSHOT 254
TABLE 178 STELLANTIS: PRODUCTS OFFERED 254
TABLE 179 STELLANTIS: PRODUCT LAUNCHES 254
TABLE 180 STELLANTIS: DEALS 255
TABLE 181 STELLANTIS: EXPANSIONS 256
16.2 KEY PLAYERS (FUEL CELL PROVIDERS) 257
16.2.1 BALLARD POWER SYSTEMS 257
TABLE 182 BALLARD POWER SYSTEMS: COMPANY OVERVIEW 257
FIGURE 78 BALLARD POWER SYSTEMS: COMPANY SNAPSHOT 258
FIGURE 79 BALLARD POWER SYSTEMS: MACRO LANDSCAPE 258
TABLE 183 BALLARD POWER SYSTEMS: FUEL CELL STACK 259
FIGURE 80 BALLARD POWER SYSTEMS: FUTURE PLANS 259
FIGURE 81 BALLARD POWER SYSTEMS: STATIONARY POWER GENERATION WITH HYDROGEN FUEL CELLS 260
TABLE 184 BALLARD POWER SYSTEMS: PRODUCTS OFFERED 260
TABLE 185 BALLARD POWER SYSTEMS: PRODUCT LAUNCHES/DEVELOPMENTS 260
TABLE 186 BALLARD POWER SYSTEMS: DEALS 261
TABLE 187 BALLARD POWER SYSTEMS: EXPANSIONS 262
16.2.2 HYSTER-YALE 264
FIGURE 82 HYSTER-YALE’S SUBSIDIARY NUVERA AT A GLANCE 264
TABLE 188 HYSTER-YALE: COMPANY OVERVIEW 264
FIGURE 83 HYSTER-YALE: COMPANY SNAPSHOT 265
TABLE 189 HYSTER-YALE: PRODUCTS OFFERED 265
TABLE 190 HYSTER-YALE: PRODUCT DEVELOPMENTS 266
TABLE 191 HYSTER-YALE: DEALS 266
TABLE 192 HYSTER-YALE: EXPANSIONS 268
16.2.3 PLUG POWER 269
TABLE 193 PLUG POWER: COMPANY OVERVIEW 269
FIGURE 84 PLUG POWER: COMPANY SNAPSHOT 270
TABLE 194 PLUG POWER: OPERATIONAL CHARACTERISTICS OF EV CHARGERS FOR LIGHT-DUTY VEHICLES 270
TABLE 195 PLUG POWER: PRODUCTS OFFERED 271
TABLE 196 PLUG POWER: PRODUCT DEVELOPMENTS 271
TABLE 197 PLUG POWER: DEALS 272
TABLE 198 PLUG POWER: OTHER DEVELOPMENTS 274
16.2.4 CUMMINS 275
FIGURE 85 CUMMINS: PARTICIPATION IN HYDROGEN ECONOMY 275
TABLE 199 CUMMINS: COMPANY OVERVIEW 276
FIGURE 86 CUMMINS: COMPANY SNAPSHOT 276
FIGURE 87 CUMMINS: SALES FOR ENGINE SEGMENT 277
TABLE 200 CUMMINS: PRODUCTS OFFERED 277
TABLE 201 CUMMINS: PRODUCT PORTFOLIO 277
TABLE 202 CUMMINS: PRODUCT DEVELOPMENTS 278
TABLE 203 CUMMINS: DEALS 279
TABLE 204 CUMMINS: OTHER DEVELOPMENTS 280
16.2.5 DOOSAN GROUP 281
TABLE 205 DOOSAN GROUP: COMPANY OVERVIEW 281
FIGURE 88 DOOSAN GROUP: COMPANY SNAPSHOT 282
TABLE 206 DOOSAN GROUP: PRODUCTS OFFERED 282
TABLE 207 DOOSAN GROUP: PRODUCT DEVELOPMENTS 282
TABLE 208 DOOSAN GROUP: DEALS 283
TABLE 209 DOOSAN GROUP: OTHER DEVELOPMENTS 284
16.2.6 ADVENT TECHNOLOGIES HOLDINGS 285
TABLE 210 ADVENT TECHNOLOGIES HOLDINGS: COMPANY OVERVIEW 285
FIGURE 89 ADVENT TECHNOLOGIES HOLDINGS: COMPANY SNAPSHOT 286
FIGURE 90 ADVENT TECHNOLOGIES HOLDINGS: OFFERINGS 286
TABLE 211 ADVENT TECHNOLOGIES HOLDINGS: PRODUCTS OFFERED 287
TABLE 212 ADVENT TECHNOLOGIES HOLDINGS: DEALS 287
16.2.7 ITM POWER 289
TABLE 213 ITM POWER: COMPANY OVERVIEW 289
FIGURE 91 ITM POWER: COMPANY SNAPSHOT 289
FIGURE 92 ITM POWER: KEY PARTNERSHIPS 290
TABLE 214 ITM POWER: PRODUCTS OFFERED 290
TABLE 215 ITM POWER: DEALS 291
TABLE 216 ITM POWER: OTHER DEVELOPMENTS 292
16.2.8 CERES POWER 293
FIGURE 93 CERES POWER: PROGRESS WITH KEY COMMERCIAL PARTNERSHIP 293
TABLE 217 CERES POWER: COMPANY OVERVIEW 293
FIGURE 94 CERES POWER: COMPANY SNAPSHOT 294
TABLE 218 CERES POWER: PRODUCTS OFFERED 294
TABLE 219 CERES POWER: PRODUCT DEVELOPMENTS 295
TABLE 220 CERES POWER: DEALS 295
TABLE 221 CERES POWER: EXPANSIONS 296
16.2.9 NEDSTACK 297
TABLE 222 NEDSTACK: COMPANY OVERVIEW 297
TABLE 223 NEDSTACK: PRODUCTS OFFERED 297
TABLE 224 NEDSTACK: DEALS 298
16.2.10 PROTON MOTOR POWER SYSTEMS 299
TABLE 225 PROTON MOTOR POWER SYSTEMS: COMPANY OVERVIEW 299
FIGURE 95 PROTON MOTOR POWER SYSTEMS: COMPANY SNAPSHOT 299
TABLE 226 PROTON MOTOR POWER SYSTEMS: PRODUCTS OFFERED 300
TABLE 227 PROTON MOTOR POWER SYSTEMS: PRODUCT DEVELOPMENTS 300
TABLE 228 PROTON MOTOR POWER SYSTEMS: DEALS 301
16.2.11 TOSHIBA 302
TABLE 229 TOSHIBA: COMPANY OVERVIEW 302
FIGURE 96 TOSHIBA: COMPANY SNAPSHOT 303
FIGURE 97 TOSHIBA: CYBER PHYSICAL SYSTEMS (CPS) TECHNOLOGY 304
TABLE 230 TOSHIBA: PRODUCTS OFFERED 304
TABLE 231 TOSHIBA: DEALS 304
TABLE 232 TOSHIBA: OTHER DEVELOPMENTS 305
16.2.12 POWERCELL AB 306
TABLE 233 POWERCELL AB: COMPANY OVERVIEW 306
FIGURE 98 POWERCELL AB: COMPANY SNAPSHOT 307
TABLE 234 POWERCELL AB: PRODUCTS OFFERED 307
TABLE 235 POWERCELL AB: DEALS 308
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
16.3 OTHER PLAYERS 310
16.3.1 PANASONIC 310
16.3.2 TORAY INDUSTRIES 310
16.3.3 SUNRISE POWER CO. LTD 311
16.3.4 BOSCH 311
16.3.5 INTELLIGENT ENERGY 312
16.3.6 SYMBIO 312
16.3.7 ELRINGKLINGER AG 313
16.3.8 SWISS HYDROGEN POWER 313
16.3.9 DANA INCORPORATED 314
16.3.10 FUEL CELL SYSTEM MANUFACTURING LLC 314
16.3.11 VOLKSWAGEN AG 315
16.3.12 DAIMLER 315
16.3.13 RIVERSIMPLE 316
16.3.14 SAIC MOTORS 316
16.3.15 VAN HOOL 317
16.3.16 MEBIUS FUEL CELL 317
16.3.17 HYDRA ENERGY CORPORATION 318
16.3.18 ISUZU MOTORS 318
16.3.19 FORD MOTOR COMPANY 319
16.3.20 FUELCELL ENERGY 319
16.3.21 BLOOM ENERGY 320
16.3.22 SUNFIRE 320
16.3.23 IONOMR INNOVATIONS 321
16.3.24 BRAMBLE ENERGY 321
17 RECOMMENDATIONS BY MARKETSANDMARKETS 322
17.1 JAPAN, SOUTH KOREA, AND CHINA ARE KEY FOCUS COUNTRIES FOR AUTOMOTIVE FUEL CELL MARKET 322
17.2 TECHNOLOGICAL ADVANCEMENTS TO BOOST MARKET FOR FCEVS 322
17.3 CONCLUSION 323
18 APPENDIX 324
18.1 KEY INSIGHTS OF INDUSTRY EXPERTS 324
18.2 DISCUSSION GUIDE 324
18.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 327
18.4 CUSTOMIZATION OPTIONS 329
18.4.1 AUTOMOTIVE FUEL CELL MARKET, BY PROPULSION AT COUNTRY LEVEL 329
18.4.2 AUTOMOTIVE FUEL CELL MARKET, ADDITIONAL COUNTRIES (UP TO 3) 329
18.4.3 PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 3) 329
18.5 RELATED REPORTS 329
18.6 AUTHOR DETAILS 330