Taking into account the regional landscape, 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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The global automotive fuel cell market size was projected at more than 5000 units and is predicted to register CAGR of 12.7% during the forecasted period.
Using fuel cell technology in automotives will generate new jobs and build new sources of revenue generation. It has a great potential to change the market dynamics in resource intensive industry. The technology is also becoming cost effective and will be commercially feasible for mass use in automobiles like cars by 2025. Daimler, Nissan, Toyota, Hyundai, Honda, Ford and General Motors are all developing fuel cell automobiles. All these factors have contributed to the overall growth of the automotive fuel cell market. But the technology has been lagging behind owing to high operating costs and lack of infrastructure. It is a feasible choice to other zero emission automobile technologies.
Automotive Fuel Cell 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.
Browse key industry insights spread across 80 pages with 51 market data tables & 19 figures & charts from the report, “Automotive Fuel Cell Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/automotive-fuel-cell-market
Glimpse of Table of Content (ToC)
Chapter 3 Automotive Fuel Cell Industry Insights
3.1 Industry segmentation
3.2 Industry Size and forecast
3.3 Industry Ecosystem analysis
3.4 Industry impact forces
3.4.1 Growth drivers
126.96.36.199 Growing automotive industry
188.8.131.52 Low operating cost
184.108.40.206 Environmentally friendly
3.4.2 Industry pitfalls & challenges
220.127.116.11 Lack of durability, high cost and reliability
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 Key competitor analysis, 2015
3.8 PESTEL analysis
Chapter 4 Automotive Fuel Cell 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
4.3.1 Global market estimates by region, 2012 – 2023
4.4 Materials Handling Vehicles
4.4.1 Global market estimates by region, 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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