Lucintel anticipates that Asia Pacific will be the fastest growing region in the automotive fuel cell market

   September 25, 2019
According to a market report by Lucintel, the future of the automotive fuel cell market looks promising with opportunities in in the passenger car, commercial vehicle, and heavy commercial vehicle markets. The automotive fuel cell market is expected to grow with a CAGR of 7% from 2019 to 2024. The major drivers for this market are stringent emission regulations, growing demand for zero-emission vehicles, development of fuel cell technology and infrastructure, and government Initiatives to subsidizing hydrogen infrastructure. High vehicle costs, insufficient hydrogen infrastructure and rising demand for BEVs and HEVs will remain the challenge for this industry.

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Within the automotive fuel cell market, passenger car, light commercial vehicles, and heavy commercial vehicles are the major end use industries. Passenger car is the largest end use segment for automotive fuel cell market.

Asia Pacific will remain the largest region over the forecast period due to higher production of fuel cell vehicles such as cars, buses, and trucks are driving the automotive fuel cell market in this region.

Ballard Power Systems, ITM Power, Hydrogenics, Plug Power, and AFCC are among the major manufacturers of automotive fuel cell.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the automotive fuel cell market by component type, by electrolyte type, by power output, by end use, and by region. Lucintel has prepared a comprehensive research report titled "Automotive Fuel Cell Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the automotive fuel cell market by component type, by electrolyte type, by power output, by end use, and by region as follows:

By Component Type [$M shipment analysis for 2013 – 2024]

  • Fuel Processor

  • Fuel Stack

  • Power Condition

By Electrolyte Type [$M shipment analysis for 2013 – 2024]

  • PEMFC (Proton Exchange Membrane Fuel Cell)

  •  PAFC (Phosphoric Acid Fuel Cell)

By Power Output [$M shipment analysis for 2013 – 2024]

  •  <100 KW

  •  100–200 KW

  •  >200 KW

By End Use [$M shipment analysis for 2013 – 2024]

  • Passenger Car

    • Small cars

    • Compact cars

    • Mid-Sized cars

    • Luxury cars

    • SUVs & Crossovers            

  • Light Commercial Vehicle

  • Heavy Commercial Vehicle

By Region [$M shipment analysis for 2013 – 2024]

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • Russia

    • France

    • United Kingdom

    • Italy

  • Asia Pacific

    • Japan

    • India

    • South Korea

    • Indonesia

    • China

  • The Rest of the World

    • Brazil

    • Turkey

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

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