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New study: Global fuel cells market forecast to 2021

Technavio Announces the Publication of its Research Report – Global Fuel Cells Market for Automotive Industry 2017-2021

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Technavio recognizes the following companies as the key players in the global fuel cells market for automotive industry: Ballard Power Systems, Hydrogenics, Nuvera Fuel Cells, Oorja Fuel Cells, and PLUG POWER. Other Prominent Vendors in the market are: Acumentrics, AFC Energy, Air Products and Chemicals, Automotive Fuel Cell, Cellkraft, Delphi Automotive, EnergyOR Technologies, H2 Logic A/S, Intelligent Energy, NEL, Proton Motor Fuel Cell, and Symbio FCell.Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Reduction in the cost of fuel cell system.

Technology developments have allowed the developments of new techniques, which have reduced the price of fuel cells. Fuel cell manufacturers are bringing down the cost of production with the reduction in the amount of platinum used in fuel cells.

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This has resulted in a cost reduction of up to 30% since 2008.”

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According to the report, one of the major drivers for this market is Increased demand for efficient and cleaner fuel. The transport sector accounts for about a quarter of the energy-related greenhouse gas (GHG) emissions.

Since the proportion of GHG emission from the transport sector is considerable, auto regulators worldwide are setting emission targets in an effort to bring down emission levels. The polluting tailpipe emission can be broken down into hydrocarbons, nitrogen oxides (NOx), carbon monoxide, sulfur oxide (SOx), and particle matter (PM).

Regulations and policies are put into effect in different regions of the world, but the overall message is clear that the automotive industry needs to drastically limit the amount of emissions it produces.
Further, the report states that one of the major factors hindering the growth of this market is Lack of refueling infrastructures for FCEVs. One of the biggest challenges that impede large-scale commercial adoption of fuel cell vehicles is the low number of hydrogen filling stations worldwide.

Hydrogen filling stations are vastly outnumbered by natural gas refueling stations and charging stations for EVs.

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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.About Fuel CellsFuel cells like batteries generate electricity from chemical synthesis.

The electrochemical reaction in the fuel cell oxidizes the hydrogen, which reacts with oxygen to form water and release electrons. All fuel cells follow a standard design, wherein two electrodes (a porous anode and cathode) are separated by an electrolyte.

The electrolyte carries electrically charged particles. To accelerate the electrochemical reaction, a catalyst is used.

Fuel cells are categorized by the nature of the electrolyte used.Technavio’s analysts forecast the global fuel cells market for automotive industry to grow at a CAGR of 9.04% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global fuel cells market for automotive industry for 2017-2021. To calculate the market size, the report considers the new installations in the market and only fuel cells for automotive industry has been considered in market sizing.The market is divided into the following segments based on geography:
• Americas
• EMEATechnavio's report, Global Fuel Cells Market for Automotive Industry 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

Know more about report at…ndustry-2017-2021

Key vendors
• Ballard Power Systems
• Hydrogenics
• Nuvera Fuel Cells
• Oorja Fuel Cells
• PLUG POWEROther prominent vendors
• Acumentrics
• AFC Energy
• Air Products and Chemicals
• Automotive Fuel Cell
• Cellkraft
• Delphi Automotive
• EnergyOR Technologies
• H2 Logic A/S
• Intelligent Energy
• Proton Motor Fuel Cell
• Symbio FCell
Market driver
• Increased demand for efficient and cleaner fuel
• For a full, detailed list, view our report Market challenge
• Lack of refueling infrastructures for FCEVs
• For a full, detailed list, view our report Market trend
• Reduction in the cost of fuel cell system
• For a full, detailed list, view our report Key questions answered in this report
• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?

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