Fuel Cell Powertrain Market: The Fuel Cell Powertrain market is driven by growing government initiatives to construct hydrogen networks during the forecasting period of 2023 to 2030

PRESS RELEASE

Published January 30, 2023

Market Research Future Insights

According to MRFR analysis, the global Fuel Cell Powertrain Market is expected to register a CAGR of ~71% from 2022 to 2030 and hold a value of over USD 7.37 Billion by 2030.

The Fuel Cell A powertrain is an electrically driven device in which a fuel cell converts hydrogen energy into electricity. Material handling, backup control during emergencies, and transportation are all possible uses. Since it does not produce hazardous pollutants as an internal combustion engine does, the fuel cell power train is both extremely effective and ecologically safe. A cheap zero-local-emission transportation solution is the powertrain fuel cell.

This is a component of a hybrid fuel cell car, a type of vehicle that uses hydrogen as an energy source to power a fuel cell to generate electricity. The growth of the powertrain fuel cell sector globally is being significantly accelerated by ongoing technological advancements in the vehicle industry. The environmental concerns about car GHG emissions may be the main reason for the market expansion for fuel cell powertrains. A possible driver of rising fuel cell powertrain demand is the government's expanding attempts to create hydrogen networks.

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Regional Analysis

The fuel cell industry is expected to be dominated by Asia-Pacific. The expansion of the market in this region is pushed by factors such as the creation of new infrastructural capabilities and the openness of the market to international businesses.

Europe is also anticipated to have a significant part of the fuel cell powertrain market. Due to ongoing efforts by manufacturers to lower the weight of automobiles to maximize their performance.

Market Segmentation

The Global Fuel Cell Powertrain market has been segmented into Component, Drive Type, Vehicle Type, and Power Output.

Based on the Component, the market has been segmented into Fuel Cell Systems, Battery Systems, Drive Systems, Hydrogen Storage Systems, and Others.

Based on the Drive Type, the market has been segmented into Rear Wheel Drive (RWD), Front Wheel Drive (FWD), and All-Wheel Drive (AWD).

Based on the Vehicle Type, the market has been segmented into Passenger Cars, Light Commercial vehicles (LCV), Buses, and Trucks.

Based on the Power Output, the market has been segmented into Less than 150 KW, 150–250 KW, and More than 250 KW.

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Key Players

Some of the key market players are AVID Technology Ltd, Ballard Power Systems, Brown Machine Group, Ceres Power, Cummins, Delphi Technologies, Denso Corporation, ITM Power Manufacturers, Robert Bosch, Bloom Energy, and SFC Energy.