Abstract
Summary
The global automotive fuel cell market is projected to grow from USD 0.2 billion in 2024 to USD 2.1 billion by 2030, at a CAGR of 48.0%. Parameters such as an increase in demand for low emission vehicles and an increase in demand for green mobility will drive the market. In addition, the advancements in hydrogen-powered technology, paired with government support for fuel cell technology, will create new opportunities for this market. Increasing demand for zero-emission vehicles in the market and strong government support has led to many top OEMs invest in the R&D of FCEVs. Hydrogen fuel cells have thus become a fast-growing technology in the past decades. Many new technological developments have taken place, which have increased the demand for automobile fuel cells in the market. Unlike traditional EVs, FCEVs can be used for much longer distances and are often used in long-distance EV commuting. Companies like Toyota, Hyundai, and Honda have been leading the development of this technology for the last two decades.
" Hydrogen will be the most commonly used fuel in FCEVs."
Hydrogen, naturally occurring in our environment and stored in various forms such as water (H2O), hydrocarbons (e.g., methane - CH4), and organic matter, presents a challenge in terms of efficiently extracting it for use as a fuel. Hydrogen is gaining prominence as a viable alternative fuel derived from diverse domestic resources. Although the hydrogen transportation market is in its early stages, joint efforts from both government and industry are concentrated on achieving clean, cost-effective, and secure hydrogen production and distribution. Hydrogen fuel cells harness the chemical energy of hydrogen to generate electricity, with water being the sole by-product of usage. PEM fuel cells, commonly utilized for automotive purposes, are compatible with fuels like hydrogen, methanol, and ethanol. Hydrogen stands out as the cleanest fuel option for fuel cells in automotive applications. Despite the current limited demand for hydrogen fuel cell vehicles, primarily due to a constrained supply of green hydrogen and the use of fossil fuels in hydrogen production, countries worldwide are initiating green hydrogen projects for various applications. This initiative is expected to boost demand for hydrogen fuel cell vehicles as production scales up, accompanied by the establishment of hydrogen stations across countries. Storage poses a challenge hindering the widespread adoption of hydrogen as a fuel. Due to its low density, hydrogen cannot be stored as easily as fossil fuels and requires compression and cooling before storage. Steam reforming remains the dominant method for hydrogen production in the United States, involving the high-temperature combination of steam with natural gas to extract hydrogen. Alternatively, hydrogen can be produced from water through electrolysis, a more energy-intensive process that offers the advantage of using renewable energy sources such as wind or solar, thereby mitigating harmful emissions associated with other energy production forms. This necessitates specific tanks for storage purposes, further contributing to the cost of using hydrogen fuel cells for automotive applications. The goal is to facilitate the widespread adoption of hydrogen in Fuel Cell Electric Vehicles (FCEVs). Currently, light-duty FCEVs are gradually entering the consumer market in limited quantities, initially in specific regions both domestically and globally. Moreover, the hydrogen market is exhibiting promising growth in various sectors, including buses, material handling equipment (e.g., forklifts), ground support equipment, medium- and heavy-duty trucks, marine vessels, and stationary applications. While hydrogen production may generate emissions affecting air quality, it is crucial to note that the exhaust from an FCEV running on hydrogen comprises only water vapor and warm air, classifying it as a zero-emission vehicle. This has materialized in the introduction of light-duty vehicles to retail consumers and the initial deployment of medium- and heavy-duty buses and trucks in California, with plans for fleet availability expanding to northeastern states..
"North America to have rapid fuel cell demand growth during the forecast period."
North America has emerged as one of the fastest growing market in fuel cell development, spearheaded by acclaimed companies like Ballard Power (Canada), Plug Power (LIS), and Fuel Cell Energy (US). The US and Canada are actively promoting the growth of Fuel Cell Electric Vehicles (FCEVs), particularly in the commercial vehicle sector. Government support includes performance testing for fuel cell Heavy Commercial Vehicles (HCVs) and buses, with key players like Ballard Power Systems, Hyster-Yale, Plug Power, Cummins, Advent Technologies Holdings, and BorgWarner contributing to the region's competitive market. The United States is committed to decarbonizing its power sector by 2035, aiming for a 50-52% reduction in carbon emissions compared to 2005 levels and achieving net-zero emissions by 2050. Each fuel cell bus in operation in the US has the potential to annually reduce carbon emissions by 100 tons and eliminate the need for 9,000 gallons of fuel, resulting in significant cost savings of over USD 37,000 per vehicle compared to diesel-fueled buses. Recognizing the importance of fuel cell technology in its national energy strategy, the US government has proposed a USD 2 billion investment in technologies, including fuel cells, to reduce dependence on fossil fuels. California, at the forefront of automotive legislation for emissions reduction, has established hydrogen refueling stations, and the H2USA project aims to advance hydrogen infrastructure, preparing for the widespread adoption of FCEVs. The US Department of Energy's investment of USD 52.5 million in 31 projects supports the advancement of clean hydrogen technologies and the Hydrogen Energy Earthshot initiative, targeting 700,000 jobs and $140 billion in revenue by 2030. However, the US goal of producing green hydrogen at $1 per kilogram by 2031 may be optimistic, with blue hydrogen and naturally extracted hydrogen gaining attention on political agendas worldwide. Simultaneously, the California Air Resources Board (CARB) is championing zero-emissions vehicles, opening the door for more hydrogen fuel cell vehicles. North America's prowess in fuel cell technology innovation is attributed to government policies promoting low-emission technologies, business-friendly environments, lower taxes, and incentives for fuel cell vehicle users, fostering significant growth in the automotive fuel cell market.Canada is also taking steps to reduce carbon emissions, with the City of Toronto planning to convert 50% of its fleets to Electric Vehicles (EVs), including a substantial portion designated for long-distance travel using FCEVs. Provinces like BC and Quebec are incentivizing Zero-Emission Vehicle (ZEV) purchases, implementing regulations, and deploying hydrogen fueling infrastructure to promote the adoption of FCEVs.
In-depth interviews were conducted with CEOs, managers, and executives from various key organizations operating in this market.
• By Respondent Type – OEMs – 24% , Tier I – 67% , Tier II & III – 9%
• By Designation – C- level Executives – 33% , Managers – 52% , Executives – 15%
• By Region – North America – 28%, Asia Oceania – 38%,Europe – 34%
Research Coverage:
The report covers the automotive fuel cell market, in terms of vehicle type (Passenger Cars , LCV,Bus, Truck), Component (fuel cell stack, fuel processor, power conditioner, air compressor, humidifier), by specialised vehicle type (Material Handling Vehicle, Auxilary Power Unit or Refrigerated Truck), H2 fuel station (Asia Oceania, Europe, and North America), power output (<150kW, 150-250 Kw, >250kw), operating miles (0-250 miles, 250-500 miles, and above 500 miles), propulsion (FCEV,FCHEV), fuel type (Methanol, Ethanol, and others), region (Asia Oceania, Europe, and North America). It covers the competitive landscape and company profiles of the major automotive fuel cell market ecosystem players.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
• The report will help market leaders/new entrants with information on the closest approximations of revenue numbers for the overall automotive fuel cell market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
• The report also helps stakeholders understand the current and future pricing trends of different automotive fuel cell systems based on their capacity.
The report provides insight on the following pointers:
• Analysis of key drivers (better fuel efficiency and increased driving range, rapid increase in investment and development for green hydrogen production, fast refuelling, reduced Oil dependency, lower emissions compared to other vehicles), restraints (highly flammable, hard to detect hydrogen leakage, high initial investment or hydrogen refuelling infrastructure, lower efficiency compared to BEV's and HEVs), challenges (rising demand for fuel cell vehicles in automotive and transportation sector, fuel cell vans to be an emerging opportunity for OEMs, government initiatives pertaining to hydrogen infrastructure ), and opportunities (high vehicle costs, insufficient hydrogen infrastructure, fast growing demand for BEVS and HEVs), influencing the growth of the authentication and brand protection market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive fuel cell market.
• Market Development: Comprehensive information about lucrative markets - the report analyses the automotive fuel cell market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the automotive fuel cell market.
• Competitive Assessment: In-depth assessment of market ranking, growth strategies, and service offerings of leading players Ballard Power Systems (Canada), Hyster-Yale (US), Plug Power(US) ITM Power(UK) and Cummins (US), among others in automotive fuel cell market.
Table of Contents
1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 MARKET DEFINITION 26
1.2.1 INCLUSIONS AND EXCLUSIONS 29
1.3 MARKET SCOPE 30
1.3.1 REGIONS COVERED 30
1.3.2 YEARS CONSIDERED 31
1.4 CURRENCY CONSIDERED 31
1.5 STAKEHOLDERS 32
1.6 SUMMARY OF CHANGES 32
2 RESEARCH METHODOLOGY 33
2.1 RESEARCH DATA 33
2.1.1 SECONDARY DATA 34
- 2.1.1.1 Key secondary sources 35
- 2.1.1.2 Key data from secondary sources 36
2.1.2 PRIMARY DATA 37
- 2.1.2.1 Primary interviews: demand and supply sides 37
- 2.1.2.2 Key industry insights and breakdown of primary interviews 38
- 2.1.2.3 List of primary participants 39
2.2 MARKET SIZE ESTIMATION 39
2.2.1 BOTTOM-UP APPROACH 41
2.2.2 TOP-DOWN APPROACH 41
2.3 DATA TRIANGULATION 44
2.4 FACTOR ANALYSIS 46
2.5 RESEARCH ASSUMPTIONS 47
2.6 RESEARCH LIMITATIONS 48
3 EXECUTIVE SUMMARY 49
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AUTOMOTIVE FUEL CELL MARKET 53
4.2 AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE 53
4.3 AUTOMOTIVE FUEL CELL MARKET, BY HYDROGEN FUEL POINTS 54
4.4 AUTOMOTIVE FUEL CELL MARKET, BY POWER OUTPUT 54
4.5 AUTOMOTIVE FUEL CELL MARKET, BY COMPONENT 55
4.6 AUTOMOTIVE FUEL CELL MARKET, BY OPERATING MILES 55
4.7 AUTOMOTIVE FUEL CELL MARKET, BY REGION 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
5.2 MARKET DYNAMICS 59
5.2.1 DRIVERS 59
- 5.2.1.1 Better fuel efficiency and driving range than ICE vehicles 59
- 5.2.1.2 Growing investment in green hydrogen production 61
- 5.2.1.3 Fast refueling 61
- 5.2.1.4 Reduced oil dependency 62
- 5.2.1.5 Lower emissions than other vehicles 63
5.2.2 RESTRAINTS 64
- 5.2.2.1 High flammability 64
- 5.2.2.2 Hard to detect hydrogen leakages 64
- 5.2.2.3 High initial investments in hydrogen fueling infrastructure 64
- 5.2.2.4 Lower efficiency than BEVs and HEVs 66
5.2.3 OPPORTUNITIES 67
- 5.2.3.1 Rising demand for fuel cell vehicles in automotive & transportation sector 67
- 5.2.3.1.1 Fuel cell commercial freight truck developments 68
- 5.2.3.1.2 Fuel-cell buses worldwide, 2023 68
- 5.2.3.2 Growth potential of fuel cell vans for OEMs 69
- 5.2.3.3 Government initiatives promoting hydrogen infrastructure 69
- 5.2.3.4 Development of mobile and community hydrogen fueling systems 70
- 5.2.3.1 Rising demand for fuel cell vehicles in automotive & transportation sector 67
5.2.4 CHALLENGES 71
- 5.2.4.1 High vehicle costs 71
- 5.2.4.2 Lack of proper hydrogen infrastructure 72
- 5.2.4.3 Rising demand for BEVs and HEVs 73
5.3 EXISTING AND UPCOMING FCEV MODELS 74
5.4 CASE STUDY ANALYSIS 77
5.4.1 CASE STUDY 1: BALLARD FUEL CELL ZERO-EMISSION BUSES IN LONDON 77
5.4.2 CASE STUDY 2: BALLARD FUEL CELL ZERO-EMISSION TRUCKS IN SHANGHAI 78
5.4.3 CASE STUDY 3: NON-PRECIOUS METAL CATALYST BY BALLARD 78
5.4.4 CASE STUDY 4: FUEL CELL ZERO-EMISSION BUSES BY BALLARD 79
5.4.5 CASE STUDY 5: FUEL-CELL BUSES FOR CITY TRANSIT IN FRANCE 80
5.5 PATENT ANALYSIS 80
5.6 ECOSYSTEM ANALYSIS 85
5.6.1 HYDROGEN FUEL SUPPLIERS 85
5.6.2 TIER I SUPPLIERS (FUEL CELL AND RELATED COMPONENT PRODUCERS) 86
5.6.3 OEMS 86
5.7 SUPPLY CHAIN ANALYSIS 88
5.8 FUEL CELL PRICING ANALYSIS 89
5.8.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY VEHICLE TYPE 89
5.9 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 91
5.10 ROADMAP OF DEPLOYMENT OF HYDROGEN TECHNOLOGY IN AUTOMOTIVE SECTOR 93
5.11 FCEV LAUNCH SCHEDULED BY MAJOR OEMS 93
5.11.1 HYDROGEN FUEL CELL VEHICLES TO GAIN MOMENTUM ACROSS DIVERSE LANDSCAPES 94
5.12 STAKEHOLDERS’ PLAN IN HYDROGEN-FUELED VEHICLE ECOSYSTEM 94
5.13 BUSINESS MODELS 95
5.14 TECHNOLOGY ANALYSIS 96
5.14.1 DIRECT BOROHYDRIDE FUEL CELL 96
5.14.2 FUEL CELL HYBRID ELECTRIC VEHICLE 97
5.14.3 HYDROGEN INTERNAL COMBUSTION ENGINE 97
5.14.4 NON-PRECIOUS METAL CATALYST-BASED FUEL CELL 97
5.14.5 PACKAGED FUEL CELL SYSTEM MODULE 97
5.14.6 HYDROGENIOUS LIQUID ORGANIC HYDROGEN CARRIER 98
5.14.7 CARBONATE-SUPERSTRUCTURED SOLID FUEL CELL 98
5.15 REGULATORY LANDSCAPE 99
5.15.1 NORTH AMERICA 99
5.15.2 EUROPE 99
5.15.3 ASIA OCEANIA 100
5.15.4 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 101
5.16 KEY CONFERENCES AND EVENTS IN 2024-2025 104
5.17 KEY STAKEHOLDERS AND BUYING CRITERIA 104
5.17.1 LCV 104
5.17.2 BUS 104
5.17.3 TRUCK 105
5.17.4 KEY STAKEHOLDERS IN BUYING PROCESS 105
5.17.5 BUYING CRITERIA 106
6 AUTOMOTIVE FUEL CELL MARKET, BY COMPONENT 107
6.1 INTRODUCTION 108
6.2 OPERATIONAL DATA 110
6.3 FUEL STACK 111
6.3.1 STRINGENT EMISSION REGULATIONS AND GOVERNMENT INCENTIVES TO DRIVE MARKET 111
6.4 FUEL PROCESSOR 112
6.4.1 RAPID GROWTH OF FUEL CELL TECHNOLOGIES IN ASIA OCEANIA AND NORTH AMERICA TO DRIVE MARKET 112
6.5 POWER CONDITIONER 113
6.5.1 PRESENCE OF LEADING FCEV MANUFACTURERS IN ASIA OCEANIA TO DRIVE MARKET 113
6.6 AIR COMPRESSOR 114
6.6.1 GROWING ADOPTION OF FUEL CELL BUSES IN NORTH AMERICA TO DRIVE MARKET 114
6.7 HUMIDIFIER 115
6.7.1 INCREASING DEMAND FOR FCEVS IN EUROPE TO DRIVE MARKET 115
6.8 KEY PRIMARY INSIGHTS 116
7 AUTOMOTIVE FUEL CELL MARKET, BY FUEL TYPE 117
7.1 INTRODUCTION 117
7.2 HYDROGEN 118
7.3 METHANOL 119
7.4 ETHANOL 119
7.5 KEY PRIMARY INSIGHTS 120
8 AUTOMOTIVE FUEL CELL MARKET, BY HYDROGEN FUEL POINTS 121
8.1 INTRODUCTION 122
8.2 OPERATIONAL DATA 124
8.3 ASIA OCEANIA 125
8.4 EUROPE 126
8.5 NORTH AMERICA 128
8.6 KEY PRIMARY INSIGHTS 129
9 AUTOMOTIVE FUEL CELL MARKET, BY OPERATING MILES 130
9.1 INTRODUCTION 131
9.2 OPERATIONAL DATA 133
9.3 0-250 MILES 134
9.3.1 NORTH AMERICA AND ASIA OCEANIA TO DRIVE MARKET 134
9.4 251-500 MILES 135
9.4.1 CONSIDERABLE RANGE ACHIEVABLE ON SINGLE FUELING TO DRIVE MARKET 135
9.5 ABOVE 500 MILES 136
9.5.1 RESILIENCE IN DIFFERENT LOAD CYCLES TO DRIVE MARKET 136
9.6 KEY PRIMARY INSIGHTS 137
10 AUTOMOTIVE FUEL CELL MARKET, BY POWER OUTPUT 138
10.1 INTRODUCTION 139
10.2 OPERATIONAL DATA 141
10.3 <150 KW 142
10.3.1 GROWING DEMAND FOR FUEL CELL PASSENGER CARS TO DRIVE MARKET 142
10.4 150-250 KW 143
10.4.1 GROWING DEMAND FOR HEAVY-DUTY TRUCKS AND BUSES TO DRIVE MARKET 143
10.5 >250 KW 144
10.5.1 HIGH DEMAND FOR LONG-HAUL TRUCKING TO DRIVE MARKET 144
10.6 KEY PRIMARY INSIGHTS 145
11 AUTOMOTIVE FUEL CELL MARKET, BY PROPULSION 146
11.1 INTRODUCTION 147
11.2 OPERATIONAL DATA 148
11.3 FCHEV 149
11.3.1 SMOOTH POWER DELIVERY REDUCING STRESS ON FUEL CELLS TO DRIVE MARKET 149
11.4 FCEV 149
11.4.1 HIGH DEMAND FOR SUSTAINABLE AND ZERO-EMISSION TRANSPORTATION TO DRIVE MARKET 149
11.5 KEY PRIMARY INSIGHTS 150
12 AUTOMOTIVE FUEL CELL MARKET, BY SPECIALIZED VEHICLE TYPE 151
12.1 INTRODUCTION 151
12.2 MATERIAL HANDLING VEHICLE 151
12.3 AUXILIARY POWER UNIT FOR REFRIGERATED TRUCKS 153
12.4 KEY PRIMARY INSIGHTS 153
13 AUTOMOTIVE FUEL CELL MARKET, BY VEHICLE TYPE 154
13.1 INTRODUCTION 155
13.2 OPERATIONAL DATA 158
13.3 PASSENGER CAR 159
13.3.1 GROWING ENVIRONMENTAL CONCERNS, STRICTER EMISSION REGULATIONS, AND ADVANCEMENTS IN TECHNOLOGY TO DRIVE MARKET 159
13.4 LCV 161
13.4.1 RISING DEMAND FOR LAST MILE DELIVERY TO DRIVE MARKET 161
13.5 BUS 162
13.5.1 SURGING URBAN AIR QUALITY CONCERNS AND RAPID REFUELING ADVANCEMENTS TO DRIVE MARKET 162
13.6 TRUCK 164
13.6.1 EXPANDING HYDROGEN INFRASTRUCTURE AND INCREASING GOVERNMENT INCENTIVES TO DRIVE MARKET 164
13.7 KEY PRIMARY INSIGHTS 168
14 AUTOMOTIVE FUEL CELL MARKET, BY REGION 169
14.1 INTRODUCTION 170
14.2 ASIA OCEANIA 175
14.2.1 CHINA 178
- 14.2.1.1 Emphasis on utilizing industrial by-product hydrogen to drive market 178
14.2.2 JAPAN 180
- 14.2.2.1 Plans to increase production of hydrogen to drive market 180
14.2.3 SOUTH KOREA 182
- 14.2.3.1 Transition to hydrogen economy to drive market 182
14.2.4 AUSTRALIA 183
- 14.2.4.1 Government investment in hydrogen ecosystem to drive market 183
14.2.5 INDIA 185
- 14.2.5.1 Initiatives by government for green transportation to drive market 185
14.3 EUROPE 186
14.3.1 BELGIUM 194
- 14.3.1.1 Tax incentives to drive market 194
14.3.2 DENMARK 196
- 14.3.2.1 Investments in hydrogen infrastructure to drive market 196
14.3.3 FRANCE 197
- 14.3.3.1 Presence of major OEM fleets to drive market 197
14.3.4 GERMANY 198
- 14.3.4.1 Fast-paced developments in hydrogen infrastructure to drive market 198
14.3.5 ITALY 200
- 14.3.5.1 Focus on developing fuel cell technology to drive market 200
14.3.6 NETHERLANDS 201
- 14.3.6.1 Dutch Hydrogen Coalition to drive market 201
14.3.7 NORWAY 202
- 14.3.7.1 Robust fueling infrastructure plans to drive market 202
14.3.8 SWEDEN 204
- 14.3.8.1 Advancement in fuel cells to drive market 204
14.3.9 SPAIN 205
- 14.3.9.1 Government plans and investments to drive market 205
14.3.10 SWITZERLAND 207
- 14.3.10.1 Ending tax exemption for electric cars to drive market 207
14.3.11 UK 208
- 14.3.11.1 Plan for zero-emission public transport to drive market 208
14.4 NORTH AMERICA 209
14.4.1 CANADA 212
- 14.4.1.1 Inclusion of benefits in tax credit to drive market 212
14.4.2 MEXICO 214
- 14.4.2.1 Shift to zero-emission transport alternative to drive market 214
14.4.3 US 215
- 14.4.3.1 Government investment in green hydrogen to drive market 215
15 COMPETITIVE LANDSCAPE 217
15.1 OVERVIEW 217
15.2 MARKET RANKING ANALYSIS 217
15.3 KEY PLAYERS’ STRATEGIES, 2020-2023 219
15.4 COMPANY EVALUATION MATRIX 220
15.4.1 STARS 220
15.4.2 EMERGING LEADERS 221
15.4.3 PERVASIVE PLAYERS 221
15.4.4 PARTICIPANTS 221
15.5 COMPANY FOOTPRINT (FUEL CELL MANUFACTURERS), 2023 222
15.6 COMPANY APPLICATION FOOTPRINT (FUEL CELL MANUFACTURERS), 2023 223
15.7 COMPANY REGIONAL FOOTPRINT (FUEL CELL MANUFACTURERS), 2023 224
15.8 STARTUP EVALUATION MATRIX 226
15.8.1 PROGRESSIVE COMPANIES 226
15.8.2 RESPONSIVE COMPANIES 226
15.8.3 DYNAMIC COMPANIES 226
15.8.4 STARTING BLOCKS 226
15.8.5 COMPETITIVE BENCHMARKING 228
15.9 COMPETITIVE SCENARIO 229
15.9.1 DEALS 229
15.9.2 PRODUCT LAUNCHES/DEVELOPMENTS 231
15.9.3 EXPANSIONS 232
16 COMPANY PROFILES 233
16.1 KEY PLAYERS (OEMS) 233
16.1.1 TOYOTA MOTOR CORPORATION 233
16.1.2 HYUNDAI GROUP 239
16.1.3 HONDA 244
16.1.4 GENERAL MOTORS 248
16.1.5 STELLANTIS 253
16.2 KEY PLAYERS (FUEL CELL PROVIDERS) 257
16.2.1 BALLARD POWER SYSTEMS 257
16.2.2 HYSTER-YALE 264
16.2.3 PLUG POWER 269
16.2.4 CUMMINS 275
16.2.5 DOOSAN GROUP 281
16.2.6 ADVENT TECHNOLOGIES HOLDINGS 285
16.2.7 ITM POWER 289
16.2.8 CERES POWER 293
16.2.9 NEDSTACK 297
16.2.10 PROTON MOTOR POWER SYSTEMS 299
16.2.11 TOSHIBA 302
16.2.12 POWERCELL AB 306
16.3 OTHER PLAYERS 310
16.3.1 PANASONIC 310
16.3.2 TORAY INDUSTRIES 310
16.3.3 SUNRISE POWER CO. LTD 311
16.3.4 BOSCH 311
16.3.5 INTELLIGENT ENERGY 312
16.3.6 SYMBIO 312
16.3.7 ELRINGKLINGER AG 313
16.3.8 SWISS HYDROGEN POWER 313
16.3.9 DANA INCORPORATED 314
16.3.10 FUEL CELL SYSTEM MANUFACTURING LLC 314
16.3.11 VOLKSWAGEN AG 315
16.3.12 DAIMLER 315
16.3.13 RIVERSIMPLE 316
16.3.14 SAIC MOTORS 316
16.3.15 VAN HOOL 317
16.3.16 MEBIUS FUEL CELL 317
16.3.17 HYDRA ENERGY CORPORATION 318
16.3.18 ISUZU MOTORS 318
16.3.19 FORD MOTOR COMPANY 319
16.3.20 FUELCELL ENERGY 319
16.3.21 BLOOM ENERGY 320
16.3.22 SUNFIRE 320
16.3.23 IONOMR INNOVATIONS 321
16.3.24 BRAMBLE ENERGY 321
17 RECOMMENDATIONS BY MARKETSANDMARKETS 322
17.1 JAPAN, SOUTH KOREA, AND CHINA ARE KEY FOCUS COUNTRIES FOR AUTOMOTIVE FUEL CELL MARKET 322
17.2 TECHNOLOGICAL ADVANCEMENTS TO BOOST MARKET FOR FCEVS 322
17.3 CONCLUSION 323
18 APPENDIX 324
18.1 KEY INSIGHTS OF INDUSTRY EXPERTS 324
18.2 DISCUSSION GUIDE 324
18.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 327
18.4 CUSTOMIZATION OPTIONS 329
18.4.1 AUTOMOTIVE FUEL CELL MARKET, BY PROPULSION AT COUNTRY LEVEL 329
18.4.2 AUTOMOTIVE FUEL CELL MARKET, ADDITIONAL COUNTRIES (UP TO 3) 329
18.4.3 PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 3) 329
18.5 RELATED REPORTS 329
18.6 AUTHOR DETAILS 330