The global Fuel Cell Powertrain Market size is projected to reach a CAGR of 47.9% from 2023-2030.
A fuel Cell Powertrain is an electrically powered device in which a fuel cell transforms energy stored as hydrogen into electricity. It may be used in material handling, emergency backup control, and transportation. The fuel cell power train is highly efficient and environmentally safe since it does not emit toxic emissions, unlike the internal combustion engine.
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The powertrain fuel cell is an inexpensive zero-local-emission mobility technology. This is part of a hybrid fuel cell vehicle, in which a fuel cell produces electricity using hydrogen as an energy supply. The increase in demand for high energy density is one of the major factors driving the growth of the fuel cell powertrain market. Also, the high need for a quick refuelling system has a positive impact on the fuel cell power train market. The surge in consumption of fossil fuel enhancing concentration levels of greenhouse gas emissions and air pollutants has increased demand for the cell power train market.
Recent Developments
- In January 2022, Doosan Fuel Cell Co., Ltd. and Korea Hydro & Nuclear Power (KHNP) signed an agreement for strengthening Hydrogen Fuel Cell Operation and Maintenance Capabilities. The two companies will work together to produce a roadmap for hydrogen fuel cell operation and maintenance technical training, as well as a local green hydrogen fuel cell project for distributed power, under the terms of the agreement.
- In February 2022, Renault Group and Plug Power Inc. entered into a joint venture with the formation of HYVIA to work on low-carbon mobility and hydrogen fuel cells.
Prominent Players
- AVID Technology Limited
- Ballard Power Systems Inc
- Ceres Power
- Cummins Inc.
- Delphi Technologies
- DENSO Corporation
- FEV
- ITM Power manufactures
- NUVERA FUEL CELLS, LLC
- Robert Bosch GmbH
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Asia Pacific to Dominate the Market
- Asia-Pacific, and the rest of the world. During the projected era, Asia-Pacific is anticipated to dominate the fuel cell industry.
- Factors that push the regional market growth are the development of new infrastructure capabilities and opening up the market to foreign companies, which drives the growth of the market in this region.
The fuel Cell Powertrain Market Segmentation:
On the basis of type
· PEMFC
· SOFC
· PAFC
· MFC
· AFC
· DMFC.
On the basis of the application
· Portable
· Stationary
· Fuel Cell Vehicles
On the basis of end-user
· Commercial & Industrial
· Data Centers
· Transportation
· Military & Defense
· Residential
· Utilities & Government/Municipal Institute.
On the basis of size
· Small Scale
· Large Scale.
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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