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Automotive Fuel Cell Market Scope and overview, Grow by 2027 - Toshiba.

Based on electrolyte type, the global automotive fuel cell market is bifurcated into Proton Exchange Membrane Fuel Cell (PEMFC) and Phosphoric Acid Fuel Cell (PAFC). The PEMFC contributes to the largest share in the market as it offers superior features like high power density, lower working temperatures, and less start-up time. <br>North America is anticipated to be the fastest-growing region during the forecast period 2021-2027 owing to rising demand for automotive-based fuel cells technology, the surge in R&D activities, and technological innovations in the region.

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Automotive Fuel Cell Market Scope and overview, Grow by 2027 - Toshiba.

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  1. Global Automotive Fuel Cell Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Global Automotive Fuel Cell Market The global automotive fuel cell market is anticipated to grow at a 44.61% CAGR during 2021-2027 and is expected to reach USD 10.6 billion by 2027. The mounting initiatives by the government to enhance hydrogen infrastructure and promote zero-emission vehicles, increasing demand for fuel cell vehicles from the automotive & transportation sector will propel the growth of the market. Also, the enhanced fuel efficiency, noiseless operation, increased driving range, and fast refueling technology will accelerate the growth in the market. The COVID-19 pandemic has severely impacted the automotive sector as the production and sales of new vehicles had come to a halt globally. OEMs had to wait for the lockdowns to be lifted and they could resume production, which had a negative impact on their operations. As a result, automakers were forced to change their production volumes.

  4. Global Automotive Fuel Cell Market Component production was also halted, and small Tier II and Tier III manufacturers encountered cash flow problems. The automotive industry is a capital-intensive industry that requires investment on a regular basis to stay afloat. As a result, the production halt during the early months of the outbreak, as well as weaker demand, had an unprecedented impact on automobile fuel cell manufacturers. Based on electrolyte type, the global automotive fuel cell market is bifurcated into Proton Exchange Membrane Fuel Cell (PEMFC) and Phosphoric Acid Fuel Cell (PAFC). The PEMFC contributes to the largest share in the market as it offers superior features like high power density, lower working temperatures, and less start-up time.

  5. Global Automotive Fuel Cell Market In February 2021, Toyota Motor Corporation (Toyota) has developed a fuel cell (FC) system that can be packaged into a small module. Companies developing and producing FC products for a wide range of applications, including mobility such as trucks, buses, trains, and ships, as well as stationary generators, will be able to use the new module with ease. The prominent players in the automotive fuel cell industry include Toshiba, ITM Power, Toyota, Nedstack, Ballard Power Systems, Ceres Power, Hydrogenics, Plug Power, and Delphi.

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