Fuel Cell Powertrain Market to Grow at 65% CAGR by 2026 | Market Research Future (MRFR)

Pune, March 10, 2021 (GLOBE NEWSWIRE) — Market Analysis The fuel cell powertrain market is anticipated to grow at a stellar 65% CAGR over the forecast period (2020- 2026), reveals the current Market Research Future (MRFR) report. A fuel cell powertrain, simply put, is a driving system where the energy stored as hydrogen gets converted into electricity by way of fuel cells. As opposed to ICE powertrain systems, the fuel cell powertrain will not produce any harmful tailpipe emissions. Enhancing Features that Spur Market Growth According to the MRFR report, there are numerous factors that are propelling the fuel cell powertrain market share. Some of these include high energy density, quick refueling of fuel powertrain, low-weight alternative for heavy-duty trucks, initiatives by the government for hydrogen infrastructure, the advent of fuel-efficient technology, increasing environmental concerns about GHG emissions from vehicles, and significant research and development investments in fuel cell vehicles infrastructure by governments. On the contrary, limited infrastructure for fuel cell vehicles, growing demand for BEVs and HEVs, high flammability, and challenges in hydrogen leakage detection may impede the global fuel cell powertrain market growth over the forecast period. https://www.marketresearchfuture.com/sample_request/10393
Several industries have already felt the brunt of the COVID-19 pandemic, which also includes the fuel cell powertrain market. Following the crisis, the sales and production of new cars had come to a halt due to worldwide lockdowns and physical distancing trends. The entire ecosystem was disrupted due to the outbreak. The economic crisis due to the outbreak is likely to cause a noteworthy delay in the adoption of clean hydrogen resulting in slow market growth. After the pandemic, the concerns for the safety and health of the public will be given due importance that would result in decarbonization amid various industries, particularly automotive, that can affect the growth directly of the fuel cell powertrain market. Market Segmentation The Market Research Future report offers an inclusive analysis of the fuel cell powertrain market based on power output, vehicle type, drive type, and component. Based on component, the global fuel cell powertrain market is segmented into hydrogen storage system, drive system, battery system, fuel cell system, and others. Of these, the battery system segment will lead the market over the forecast period. Based on drive type, the global fuel cell powertrain market is segmented into all-wheel drive (AWD), front wheel drive (FWD), and rear wheel drive (RWD). Of these, the rear wheel drive (RWD) segment will dominate the market over the forecast period. By vehicle type, the global fuel cell powertrain market is segmented into buses and trucks, light commercial vehicles (LCV), and passenger cars. Of these, the passenger cars segment will spearhead the market over the forecast period. 
By power output, the global fuel cell powertrain market is segmented into more than 250 KW, 150-250 KW, and less than 150 KW. Of these, the 150-250 KW segment will have the lions share in the market over the forecast period. https://www.marketresearchfuture.com/reports/fuel-cell-powertrain-market-10393
APAC to Sway Fuel Cell Powertrain Market Geographically, the global fuel cell powertrain market is bifurcated into Europe, the Asia Pacific (APAC), North America, South America, & Rest of the World (RoW). Of these, the APAC region will sway the market over the forecast period. The development of new infrastructure capabilities, opening up the market to foreign companies, increasing demand for fuel-efficient vehicles, initiatives by the government for hydrogen station, growing disposable income in emerging economies, stringent emission regulations across the world, and key automakers in the region leveraging the perks of fuel cell vehicles components in their models are adding to the global fuel cell powertrain market growth in the region. The additional factors adding market growth include China, South Korea, and Japan being key adopters of FEVs, increasing investments and developments, push to popularize fuel cell vehicles, increasing launch of new projects, the opening of the market to foreign candidates, and expansion of infrastructure capabilities. North America to Hold Second-Largest Share in Fuel Cell Powertrain Market In North America, the global fuel cell powertrain market is predicted to hold the second-largest share over the forecast period. The introduction of stringent regulations and norms to minimize GHG emissions is adding to the global fuel cell powertrain market growth in the region. Europe to Have Favorable Growth in Fuel Cell Powertrain MarketIn Europe, the global fuel cell powertrain market is predicted to have favorable growth over the forecast period. Increased efforts by manufacturers to reduce the car weight to optimize performance, increase in the number of buses that operate on hydrogen fuel cells, refueling station, and rise in the shift from the testing of hydrogen fuel cell cars to commercial production are adding to the global fuel cell powertrain market growth in the region. https://www.marketresearchfuture.com/enquiry/10393
The leading players profiled in the global fuel cell powertrain market report include SFC Energy (Germany), Bloom Energy (US), Robert Bosch (Germany), ITM Power Manufacturers (UK), Denso Corporation (Japan), Delphi Technologies (UK), Cummins (US), Ceres Power (UK), Brown Machine Group (US), Ballard Power Systems (Canada), and AVID Technology Ltd (UK), among others. The global fuel cell powertrain market is highly fragmented and competitive with the presence of several international and domestic market players. These players have incorporated several strategies to stay at the forefront and also cater to the customers growing needs, such as contracts, collaborations, joint ventures, and partnerships, and others. Besides, they are also investing in research and development activities to strengthen their portfolios and also create hold in the market.Industry Updates February 2021- Jaguar Land Rover has developed a hydrogen fuel cell-powered powertrain. Its prototype is set to be tested on UK roads soon. Summary The global fuel cell powertrain market is predicted to have favorable growth over the forecast period. Fuel cell powertrain, simply put, is electrically driven wherein energy stored as hydrogen gets converted into electricity with a fuel cell. A fuel cell is used in several applications such as transportation, emergency backup power, and material handling. As opposed to an internal combustion engine powertrain system, the fuel cell power train is eco-friendly and efficient as it does not emit harmful emissions. Global High-Performance Fuel Cells Market Research Report: Information by Type (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, Alkaline Fuel Cell and Microbial Fuel Cell), Application (Transport, Stationary and Portable), End-Use (Fuel Cell Vehicles, Utilities and Defence) and Region – Forecast till 2026Global Fuel Cell Technology Market Research Report by Type (PEMFC, MCFC, SOFC, DMFC, PAF and Others), Application (Stationary, Portable and Transportation) and Region (Asia-Pacific, North America, Europe, Middle East, Africa and South America) – Forecast till 2024Automotive Fuel Cell Market Research Report by Electrolyte Type (PEMFC, PAFC), by Components (Fuel Processor, Power Conditioner and Fuel Stack), by Power Output (<100KW, 100-200KW, >200KW), Fuel Type (Hydrogen, Methanol), Vehicle Type –Forecast to 2023Global Solid Oxide Fuel Cell Market Research Report Information: Type (Planar, Tubular) Mobility (Stationary, Portable) Application (Combined Heat & Power) End-user – Forecast till 2023Global Hydrogen and Fuel Cells Market By Type (Air-Cooled Type and Water-Cooled Type), By Application (Stationary, Transport and Portable) – Global Forecast to 2025Global Hydrogen Fuel Cell Vehicle Market Information By Technology (Proton Exchange Membrane Fuel Cell, Alkaline Fuel cell, Solid Oxide Fuel Cell), By Vehicle Type(Commercial Vehicle and Passenger Cars)and Region – Forecast To 2023
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