The Global Fuel Cell Powertrain Market Size Was Valued At USD 144 Million In 2021. The Market Is Projected To Grow From USD 235.8 Million In 2022 To USD 12,530.3 Million By 2029, Exhibiting A CAGR Of 89.3% During The Forecast Period. Global Fuel Cell Powertrain Market Reports give a Key study on the industry status of the Fuel Cell Powertrain Industry Manufacturer with the specific statistics, meaning, definition, SWOT Analysis, expert opinion, and recent development across the globe. The research report also covers the Market Size, Price, Sales, Revenue, Market share, Gross Margin, growth rate, and cost structure. The report aims to give an additional sample of the latest scenario, economic slowdown, and Covid-19 impact on overall Industry.
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The COVID-19 pandemic has been shocking and has never happened before. Because of this, demand for fuel cell powertrain has been lower than expected in all regions compared to levels before the pandemic. From 2019 to 2020, the global market dropped by 16.54%, according to our research.
A Fuel Cell Powertrain (FCP) is an electric drive system that uses a fuel cell to turn hydrogen energy into electric power. FCPs don’t have harmful emissions coming out of the tailpipe like Internal Combustion Engine (ICE) powertrains do. Since FCP was put into place, the U.S. Department of Energy (DOE) says that the country’s energy security has gotten better. Also, government programmes have helped the hydrogen refuelling infrastructure grow, and the speed with which technology is making fuel cell vehicles more efficient is a factor in the growth of the fuel cell powertrain market as a whole.
Competitive Landscape and Global Market Share Analysis:
Cummins Inc. (U.S.), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Ballard Power Systems (Canada), FEV Group (Canada), Nuvera Fuel Cell LLC. (U.S.), Plug Power (U.S.), SFC Energy (Germany), Bloom Energy (U.S.), Ceres Power(U.K.), Others
Market Segmentation:
By Power Output:
- Less than 150 kW
- 150 to 250 kW
- More than 250kW
- Others
By Component:
- Fuel Cell System
- Battery System
- Drive System
- Hydrogen Storage System
- Others
By Vehicle Type:
- Passenger Cars
- Commercial Vehicle
- Buses
- Other
The report on the Fuel Cell Powertrain market covers the following region (country) analysis:
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
Regional Insights:
Asia Pacific was the largest part of this market in 2021, and the fastest CAGR suggests that it will stay the largest part throughout the forecast period. More and more people in places like South Korea and China are buying fuel-cell cars, which is making the market grow. The government of South Korea is very focused on making the area’s hydrogen infrastructure better. For example, in December 2021, the South Korean government said that by the end of 2022, 43 hydrogen stations would be built along highways. The government is very interested in green transportation.
North America had the second largest share in 2021. More and more people in California want FCEVs, which is making the market grow. In February 2022, a contract was signed between Chevron USA Inc. and Iwatani Corporation of America (ICA) to build 30 hydrogen fueling stations in California. The California Air Resources Board (CARB) thinks that there will be more than 176 hydrogen stations in California to support about 250,000 fuel-cell vehicles. In the area in question, the market is growing because hydrogen infrastructure is getting better and more people want pollution-free cars.
Things like the Fuel Cell & Hydrogen Joint Undertaking (FCH JU), which gives USD 32 million to the JIVE project, make up the European market (Joint Initiative for Hydrogen Vehicles in Europe). The JIVE project hopes to have 291 fuel cell buses running all over Europe by the year 2023. In the same way, countries like Germany, France, and Spain have set goals for HRS deployment to help FCVs last for a long time. So, these things make this area’s market grow.
During the time frame of the forecast, the rest of the world is also expected to have good growth rates. Chile, Argentina, and Costa Rica all switched to hydrogen with less carbon, which helped the local market grow.
Following are the major TOC of the Fuel Cell Powertrain Market:
Chapter 1: Fuel Cell Powertrain Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Global Fuel Cell Powertrain Market Competition by Manufacturers
Chapter 4: Global Production, Profits (Value) by Region
Chapter 5: Global Supply (Production), Import, Export, Consumption, by Regions
Chapter 6: Global Price Trend by Type, Revenue (Value), Production
Chapter 7: Manufacturing Cost Analysis
Chapter 8: Global Market Analysis by Application
Chapter 9: Industrial Chain and Downstream Buyers, Sourcing Strategy
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Global Fuel Cell Powertrain Market Forecast
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Key Reasons to Purchase Fuel Cell Powertrain Market report:
The report provides a thorough examination of the manufacturing methods, as well as ideas to reduce development risk, major market growth challenges and strategic inputs to overcome the market threats.
In-depth market analysis and an overview of the global Fuel Cell Powertrain Market trend and commercial landscape are included in the report. In addition, the report discusses the effect of COVID-19 on the market.
Reader can acquire a better interpretation of the Fuel Cell Powertrain Market forecast’s future view and opportunities from the report.
The report contains an analysis of recent developments as well as profiles of important market leaders and key players.
To gain an understanding of the market strategies by the leading market players in the Fuel Cell Powertrain
The report analyses the most important driving and restraining factors in the industry, as well as their impact on global market growth.
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