Lewes, DE -- (SBWire) -- 07/25/2018 --Automotive Fuel Cells market will register a 15.8% CAGR in terms of revenue, reach US$ 750 million by 2023, from US$ 310 million in 2017.
A fuel cell is a device that generates electricity by a chemical reaction. Automotive fuel cells create electricity to power an electric motor, generally using oxygen from the air and compressed hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no harmful tailpipe exhaust-they emit water vapor and warm air.
With increasing emission levels, the governments across the globe are focusing on promoting the adoption emission-free vehicles. Several countries around the world including the US and Germany are providing various incentives for fuel cell vehicle buyers. For instance, fuel cell vehicle buyers in Germany receive an incentive of about USD 4,450. Similarly, Japan also provides a purchase subsidy of about USD 19,740 for fuel cell vehicles.
Additionally, countries such as China, Japan, South Korea, and the US are also focusing on developing hydrogen infrastructure. Such initiatives will increase the popularity and adoption of fuel cell vehicles, which will subsequently drive the growth of the fuel cells market for the automotive industry.
The leading manufactures mainly are Toyota, Honda, Hyundai, Ballard and Nedstack. Toyota is the largest manufacturer; its revenue of global market exceeds 78% in 2016, which main due to large sales of its fuel cell vehicle.
Over the next five years,study projects that Automotive Fuel Cells will register a 15.8% CAGR in terms of revenue, reach US$ 750 million by 2023, from US$ 310 million in 2017.
This report studies the global market, especially in North America, Europe, Asia-Pacific, South America, Middle East and Africa, focuses on the top 5 players in each region, with sales, price, revenue and market share from 2013 to 2018, the top players:
Toyota
Honda
Hyundai
Ballard
Nedstack
Market Segment by Regions, this report splits Global into several key Regions, with sales, revenue, market share of top players in these regions, from 2013 to 2018 (forecast), like
North America (United States, Canada and Mexico)
Asia-Pacific (China, Japan, Southeast Asia, India and Korea)
Europe (Germany, UK, France, Italy and Russia etc.)
South America (Brazil, Chile, Peru and Argentina)
Middle East and Africa (Egypt, South Africa, Saudi Arabia)
Split by Product Types, with sales, revenue, price, market share of each type, can be divided into
Hydrogen Fuel Cell
Other Fuel Cell
Split by applications, this report focuses on sales, market share and growth rate in each application, can be divided into
Passenger Vehicle
Commercial Vehicle
Spanning over 125 pages "Forecast of Global Automotive Fuel Cells Market 2023" report covers Automotive Fuel Cells Market Overview, Global Automotive Fuel Cells Sales, Revenue (Value) and Market Share by Players, Global Automotive Fuel Cells Sales, Revenue (Value) by Regions, Type and Application (2013-2018), North America Top 5 Players Automotive Fuel Cells Sales, Revenue and Price, Europe Top 5 Players Automotive Fuel Cells Sales, Revenue and Price, Asia-Pacific Top 5 Players Automotive Fuel Cells Sales, Revenue and Price, South America Top 5 Players Automotive Fuel Cells Sales, Revenue and Price, Middle East & Africa Top 5 Players Automotive Fuel Cells Sales, Revenue and Price, Global Automotive Fuel Cells Players Profiles/Analysis, Global Automotive Fuel Cells Market Forecast (2018-2023), Automotive Fuel Cells Manufacturing Cost Analysis, Industrial Chain, Sourcing Strategy and Downstream Buyers, Marketing Strategy Analysis, Distributors/Traders, Market Effect Factors Analysis, Research Findings and Conclusion, Appendix.
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