Automotive Fuel Cell Market 2020 – Regional Analysis, Growth, Trends and Forecast by 2023

North America automotive fuel cell market share will exhibit a significant growth over the coming years, owing to the growing support from private companies and national laboratories. U.S. will contribute noticeably towards the regional automotive fuel cell industry. The escalating efforts by the U.S. government to promote fuel cell technology will influence the regional share considerably over the coming timeframe.

Asia Pacific automotive fuel cell industry dominated the regional landscape by accounting for 60% of the global market share in 2015 and is anticipated to register an annual growth rate of 11.8% over the coming period of 2016 to 2023. The growth can be attributed to the supportive government rules and regulations regarding the usage of the fuel cell. Europe automotive fuel cell market is projected to register a CAGR of more than 14.5% over the coming six years.

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Material handling vehicles, buses, and light duty vehicles are key applications of the automotive fuel cell industry. Material handling vehicle applications will exhibit an annual growth rate of 14.5% over the coming period of 2016 to 2023, driven by their increasing use across distribution centers, airport operations, and inventory management.

Light duty automotive fuel cell market size occupied 50% of the overall industry share in 2015 and is predicted to surpass 7500 units by 2023, owing to its increasing demand to cut the gasoline consumption globally. Moreover, incorporation of hydrogen fuel cell in buses, forklifts, and power back-up applications will create a lucrative roadmap for the automotive fuel cell industry over the period of 2016 to 2023.

Automotive fuel cell market will grow noticeably over the coming six years, mainly driven by the growing awareness regarding the hazardous environmental effects of GHG and carbon footprints. As per the report by Global Market Insights, Inc., “Global Automotive Fuel cell market occupied a volume of over 5,000 units in 2015 and is anticipated to register an annual growth rate of 12.7% over the period of 2016 to 2023.” Shifting trends toward fuel cells to reduce the economic dependency on oil producing nations will preserve the non-renewable energy sources such as crude oil at a large scale.

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Market players are focusing on increasing their technology and product base through strategic partnerships and alliances. Key industry participants include Toshiba, Ballard, and Fuelcell Energy, GM, Panasonic, Altergy Systems, Hydrogenics Corporation, Honda, Automotive Fuel Cell Cooperation, and Plug Power Inc.

Glimpse of Table of Content (ToC):  –

Chapter 4 Automotive Fuel Cell Market Application Insights

4.1          Automotive Fuel Cell market share by application, 2015 & 2023

4.2          Light Duty Vehicles

4.2.1       Global market estimates by region, 2012 – 2023

4.3          Buses

4.3.1       Global market estimates by region, 2012 – 2023

4.4          Materials Handling Vehicles

4.4.1       Global market estimates by region, 2012 – 2023

Chapter 5                 Automotive Fuel Cell MarketRegional Insights

5.1          Automotive fuel cell market volume share by region, 2015 & 2023

5.2          North America

5.2.1       Market estimates and forecast, 2012 – 2023

5.2.2       Market estimates and forecast by application, 2012 – 2023

5.2.3       U.S.

5.2.3.1 Market estimates and forecast, 2012 – 2023

5.2.3.2 Market estimates and forecast by application, 2012 – 2023

5.2.4       Canada

5.2.4.1 Market estimates and forecast, 2012 – 2023

5.2.4.2 Market estimates and forecast by application, 2012 – 2023

5.3          Europe

5.3.1       Market estimates and forecast, 2012 – 2023

5.3.2       Market estimates and forecast by application, 2012 – 2023

5.3.3       Germany

5.3.3.1 Market estimates and forecast, 2012 – 2023

5.3.3.2 Market estimates and forecast by application, 2012 – 2023

5.3.4       UK

5.3.4.1 Market estimates and forecast, 2012 – 2023

5.3.4.2 Market estimates and forecast by application, 2012 – 2023

5.4          Asia Pacific

5.4.1       Market estimates and forecast, 2012 – 2023

5.4.2       Market estimates and forecast by application, 2012 – 2023

5.4.3       Japan

5.4.3.1 Market estimates and forecast, 2012 – 2023

5.4.3.2 Market estimates and forecast by application, 2012 – 2023

5.4.4       South Korea

5.4.4.1 Market estimates and forecast, 2012 – 2023

5.4.4.2 Market estimates and forecast by application, 2012 – 2023

5.5          Latin America

5.5.1       Market estimates and forecast, 2012 – 2023

5.5.2       Market estimates and forecast by application, 2012 – 2023

5.6          Middle East and Africa (MEA)

5.6.1       Automotive fuel cell market estimates and forecast, 2012 – 2023

5.6.2       Market estimates and forecast by application, 2012 – 2023

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-fuel-cell-market

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