Automotive Fuel Cell Market size was valued at US$ 6.3 Billion in 2023 and the total Automotive Fuel Cell Market revenue is expected to grow at 40% through 2024 to 2030, reaching nearly US$ 66.41 Billion.
Automotive Fuel Cell Market Overview
Automotive Fuel Cell Market Report Scope and Research Methodology
Automotive Fuel Cell Market Dynamics
The automotive fuel cell market is driven by the increasing demand for better fuel economy, where fuel cell electric vehicles (FCEVs) outperform internal combustion engine (ICE) vehicles. FCEVs exhibit a remarkable fuel economy advantage over ICE cars, with approximately 63 miles per gallon gasoline equivalent (MPGge) on highways compared to only 29 MPGge for ICE vehicles. Moreover, hybridization further enhances FCEVs’ fuel efficiency by up to 3.2 percent. In urban settings, FCEVs maintain a significant lead in fuel economy, achieving around 55 MPGge, while ICE vehicles lag behind at approximately 20 MPGge. Additionally, FCEVs offer substantial driving range advantages over battery electric vehicles (BEVs), with FCEVs capable of covering about 300 miles on a single tank before requiring refueling, compared to BEVs’ typical range of around 110 miles on a fully charged battery.
Automotive Fuel Cell Market Regional Insights
by Vehicle Type
Passenger Car
LCV
Bus
Truck
by Power Capacity
<150 kW
150-250 kW
>250 kW
By Operating Miles
0-250 Miles
251-500 Miles
Above 500 Miles
Automotive Fuel Cell Market Key Players
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Key Questions answered in the Automotive Fuel Cell Market Report are:
Key Offerings:
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Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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