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Global Fuel Cell Powertrain Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), By Component (Drive Systems, Battery Systems, Others ), By Region–Forecast & Opportunities to 2026

The global fuel cell powertrain market accounted for a value of USD 1.2 billion in 2019. Fuel cell powertrain market projected to register growth at a CAGR of 55.0% during forecast period.

COVID-19 has impacted automotive industry significantly. All the production and assembly activities were halted due to lockdown in many countries. The supply of raw material and finished products was immensely affected due to travel restriction and border closers. The sales of vehicles are immensely hit by the corona virus outbreak. The fuel cell powertrain will foresee growth from the beginning of 2021.

Definition:

Fuel cell powertrain can be defined as a system which is electronically driven in which energy stored s hydrogen and then it gets converted into electricity through fuel cell. This fuel cell has several applications such as emergency backup power and material handling. It is highly efficient and reduces pollution by emission.

Market Dynamics (Drivers/Opportunities):

Fuel cell EV provides better economy then combustion engines. It runs 63 miles per gallons gasoline equivalent on the other hand internal combustion engine runs 29 miles per gallon gasoline equivalent. The fuel economy can be improved upto 3% due to hybridization of vehicle. The demand for better economy is always higher. This drives growth in fuel cell powertrain during forecast period.

Fuel cell vehicle can travel around 300 miles without refueling while battery electric vehicle (BEV) requires recharging after travelling 110 miles. Hydrogen fuel is very cost effective as compared to others. Fuel cell vehicle also helps in reducing emission problems and meet all stringent emission norms formulated by government. This is likely to drive growth during forecast period.

Market Insights, by Vehicle Type

On the basis of vehicle type, the fuel cell powertrain market is segmented into passenger cars, light commercial vehicle and heavy commercial vehicle. The LCV segment is estimated to foresee fastest growth during forecast period. LCV basically used to carry goods and minibus which is also considered as LCV, used to carry mass from 3.5 – 7 tons for the purpose of passenger transportation.  Many companies like Renault are working on introducing hydrogen fuel cell powertrain in the LCV segment. Only Renults Master is available in hydrogen fuel which is becoming popular and the upcoming development are likely to drive growth in LCV segment during forecast period.

Market Insights, by Component

On the basis of component, the fuel cell powertrain market is segmented into hydrogen storage system, fuel cell systems, battery system, drive system and others. The fuel cell systems segment is estimated to register growth at highest CAGR during forecast period. Fuel systems are considered to be the heart of a fuel cell powertrain. It is used to convert oxygen and hydrogen gas to electricity. This electricity is used to provide power to electric motor. The demand for this component is higher which drives growth in this segment during forecast period.

Regional Insights

Asia-Pacific region is estimated to consider growth at highest CAGR during forecast period. The demand for fuel-efficient vehicle is increasing in this region rapidly. The sale of passenger cars is higher in this region over past few years. This region is home for various companies such as Denso, Doosan Corp. and Shanghai Fuel Cell Vehicle Power Systems which produces fuel cell powertrain. The number of fuel cell powertrain sold is higher in this region as compared to other region. This drives growth in fuel cell powertrain market in Asia-Pacific region.

Key Companies & Market Share Insights

The key market players in fuel cell powertrain sector are Plug Power, Shanghai Fuel Cell Vehicle Power Systems Co., Cummns Inc., Ballard power Systems, Robert Bosch GmbH, Denso Corporation, FEV, Fuel Cell Powertrain GmbH, ITM Power, Ceres Power, Continental AG, Delphi Technologies, Arcola Energy, Avid Technology Ltd. and AVL List GmbH.

Segments Covered in the Report

This report forecasts The Global Fuel Cell Powertrain Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global fuel cell powertrain market report on the basis of component and vehicle type.

Fuel Cell Powertrain Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Fuel Cell Powertrain Market, By Vehicle Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Passenger Cars
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  1. Fuel Cell Powertrain Market, By Component, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Hydrogen Storage System
  • Fuel Cell Systems
  • Battery System
  • Drive System
  • Others
  1. Fuel Cell Powertrain Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Vehicle Type
    • By Component
    • By Country
      • USA
        • By Vehicle Type
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Vehicle Type
      • By Component
      • By Country
        • Brazil
          • By Vehicle Type
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Vehicle Type
        • By Component
        • By Country
          • UK
            • By Vehicle Type
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Vehicle Type
          • By Component
          • By Country
            • China
              • By Vehicle Type
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Vehicle Type
            • By Component
            • By Country
              • Saudi Arabia
                • By Vehicle Type
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • AVL List GmbH
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Plug Power
    • Shanghai Fuel Cell Vehicle Power Systems Co.
    • Cummns Inc.
    • Ballard power Systems
    • Robert Bosch GmbH
    • Denso Corporation
    • FEV
    • Fuel Cell Powertrain GmbH
    • ITM Power
    • Ceres Power
    • Continental AG
    • Delphi Technologies
    • Arcola Energy
    • Avid Technology Ltd
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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