Global Automotive Fuel Cell Market 2023-2030

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    GLOBAL AUTOMOTIVE FUEL CELL MARKET

     

    INTRODUCTION

    Hydrogen + Oxygen = Electricity + Water Vapor. That’s the basic principle of which Fuel cell works. There are four basic elements of a PEM Fuel Cell: The anode, the negative post of the fuel cell, has several jobs. It conducts the electrons that are freed from the hydrogen molecules so that they can be used in an external circuit.

     

    It has channels etched into it that disperse the hydrogen gas equally over the surface of the catalyst.

     

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    The cathode, the positive post of the fuel cell, has channels etched into it that distribute the oxygen to the surface of the catalyst. It also conducts the electrons back from the external circuit to the catalyst, where they can recombine with the hydrogen ions and oxygen to form water.

     

    The electrolyte is the proton exchange membrane. This specially treated material, which looks something like ordinary kitchen plastic wrap, only conducts positively charged ions. The membrane blocks electrons. For a PEMFC, the membrane must be hydrated in order to function and remain stable.

     

    The catalyst is a special material that facilitates the reaction of oxygen and hydrogen. It is usually made of platinum nanoparticles very thinly coated onto carbon paper or cloth. The catalyst is rough and porous so that the maximum surface area of the platinum can be exposed to the hydrogen or oxygen. The platinum-coated side of the catalyst faces the PEM.

     

    To know more about Global Hydrogen Fuel Cell Vehicle Market, read our report

     

    ADVANTAGES AND DISADVANTAGES OF AUTOMOTIVE FUEL CELL

     

    Advantages of the technology

    • By converting chemical potential energy directly into electrical energy, fuel cells avoid the “thermal bottleneck” (a consequence of the 2nd law of thermodynamics) and are thus inherently more efficient than combustion engines, which must first convert chemical potential energy into heat, and then mechanical work.
    • Direct emissions from a fuel cell vehicle are just water and a little heat. This is a huge improvement over the internal combustion engine’s litany of greenhouse gases.
    • Fuel cells have no moving parts. They are thus much more reliable than traditional engines.
    • Hydrogen can be produced in an environmentally friendly manner, while oil extraction and refining is very damaging.

     

    Disadvantages of the technology

    • hydrogen is in the gas state at room temperature and pressure, so it is difficult to store in the car
    • fuel cells and electric motors are less durable than petrol engines and diesel engines, so they are not so long-lasting
    • fuel cells are very expensive
    • there is no countrywide network of hydrogen filling stations at the moment
    • some methods of producing the hydrogen fuel release carbon dioxide and other pollutants into the atmosphere

     

    There are also safety concerns about the use of hydrogen because it is highly flammable.

     

    A fuel cell station costs $1M to $2M in USA. In Japan it’s 250M Yen to 319M Yen.

     

    The global goal is 10,000 stations by 2030. Japan plans to have 320 stations nationwide by 2025 and 900 by 2030. Europe had 105 stations at the end of 2020. Germany has set a target of 400 stations by the end of 2023 and 900 by 2030. In USA, California is leading the fuel cell station count and had 64 stations in action in 2020. USA plans on having 250 stations by 2025, 50% of them being in California 

     

    AUTOMOTIVE FUEL CELL MARKET DYMANICS

     

    SI No Timeline Company Developments
    1 May 2021 Plug Power Johnson Matthey, a world leader in sustainable technology, announced an agreement with PlugPower.The two companies will create a roadmap to accelerate the joint development of high-performance electrolyzer technology that is more durable, more performant, and more energy efficient than currently available systems.
    2 Jan 2022 Larsen & Toubro Larsen & Toubro (L & T) announced that it has signed a memorandum of understanding (MoU) with HydrogenPro AS (OSE: HYPRO), a Norwegian-based electrolytic cell technology. Under this agreement, L & T and Hydrogen Pro will work together to establish a joint venture in India for gigawatt production of alkaline water electrolyzers based on Hydrogen Pro technology for the Indian market and other selected regions.
    3 2022                      Plug Power Partnering with French carmaker Renault,Plug Power revealed the new Renault Master Van H-2 TECH prototype at it’s ‘Plug Power Symposium’ in Latham NY.

     

    SI no Timeline Company Developments
    1 November 2021 Plug Power Plug power has opened the Plug Power Innovation Center, its green hydrogen and fuel cell gigafactory in Rochester, Newyork.
    2 October 2021 Ballard Power Ballard and Forsee power have been partnered in order to develop and commercialize integrated fuel cells and battery solutions for heavy-duty hydrogen mobility.
    3 September 2021 Ballard power Ballard Power and Quantron AG have announced a strategic partnership for the development of hydrogen fuel cell electric trucks.
    4 July 2021 Cummins Inc Air Products and Cummins have been partnered to accelerate the development and deployment of hydrogen fuel cell trucks.
    5 June 2021 Plug Power Renault Group has been partnered with Plug Power in order to lead the way for a complete environment of fuel cell powered LCVs, green hydrogen and refuelling stations across Europe.
    6 April 2021 Cummins Inc Cummins will open a new fuel cell system production facility in Germany in order to expand the fuel cell stack refurbishment.

     

    China is pushing for fuel cell development throughout the country. Subsidies are available and incentives are provided for developing fuel cell vehicles. There is a set-up of the hydrogen power corridor across China.

     

    China plans to have one million FCEVs on the road and 1,000 hydrogen refuelling stations by 2030, with heavy vehicles a priority. Toyota started a joint venture in China along with Beijing SinoHytec. Toyota will soon start manufacturing fuel cell components in China and this will be the first time production of fuel cell components will be outside Japan.

     

    Chengdu and Chongqing are applying for government subsidies to develop a hydrogen corridor. Shanghai, Foshan, and Beijing are also cities focusing on using fuel cell vehicles throughout the city.

     

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    Government hopes for cities and OEMs to capture the incentive and subsidies creating competition for developing technology. Great Wall Motors is launching itself in the hydrogen power sector and plans to be among the top 3 global market leaders in 2025 in using hydrogen energy

     

    South Korea has looked into developing fuel cell vehicles for more than a decade. At Seosan, South Chungcheong Province a 50 MegaWatt secondary hydrogen fuel cell power plant is being constructed .

     

    Johnson Matthey after incurring losses for over 20 years manufactures fuel-cell components has started to make strides in the industry due to the policies of China boosting the hydrogen powered automotive industry. The Chinese government plans to integrate 1 million fuel cell vehicles with focus on trucks and buses within a decade.

     

    Loop Energy, manufacturer of hydrogen fuel cells and Technicas Reunidas based in Spain have entered into a joint agreement for the development of secured future opportunities for hydrogen fuel cells. The company Hyundai has partnered in H2 mobility in Germany for the development of infrastructure for hydrogen based fuel cells.

     

    The South Korean government and other OEMs based in the region are expected to invest approximately $2.33 billion during the next five years to accelerate the development of hydrogen fuel cells in order to develop an FCEV ecosystem.

     

    To know more about Global Fuel Cell Commercial Vehicle Market, read our report

     

    In March 2021, the company Daimler Truck AG and the Volvo group founded a fuel cell joint venture. The Volvo group has acquired 50% shares in the Daimler Truck fuel cell GmbH with an investment of approximately $0.75 billion. The new joint venture named cellcentric GmbH & Co. KG will be the leading manufacturer of fuel cells.

     

    In February 2021, Ballard Power Systems came in a non-binding joint memorandum of understanding (MOU) with the Chart Industries Inc. for the development of integrated solutions for fuel cell engine with onboard liquid hydrogen storage and vaporisation for the automotive transportation industry which will primarily be used for heavy-duty applications such as trucks, buses, marine vessels and railway.

     

    In January 2021, the company Ricardo announced an initial investment worth $3.4 million in order to build a hydrogen fuel cell development and testing facility to be incorporated at the Shoreham Technical Centre in the UK. The new unit is set to support the company’s existing projects in the fuel cell industry and for the development of alternative fuels.

     

    In December 2020, the company Novares announced the development of an affordable, lightweight plastic fuel cell stack that offers 35% savings in weight and 25% cost saving as compared to metal alternatives. In October 2020, the company Doosan fuel cell announced the development of Solid Oxide fuel cells (SOFC) which is a more efficient and powerful fuel cell for the South Korean market.

     

    The company has plans to invest $63 million by the year 2023 for the project. A British SOFC technology company Ceres Power has signed the agreement for the joint venture with Doosan for the development of the SOFC.

     

    Bloom Energy and SK Engineering and Construction have powered two fuel cell complexes in the Gyeonggi province of South Korea. The fuel cell technology development is jointly funded by government and private agencies to incorporate advantages from both sides.

     

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    The fuel cell development will also include automobiles as well as general energy supply.

     

    The Australian Government has set aside $70 M for a new hydrogen export hub and $74.5 M for hydrogen fuel cell vehicles through a future fuels fund. Australian bus maker Volgren plans a hydrogen fuel cell prototype and will be released by 2023. It’ll be the first domestic hydrogen based bus for Australia.

     

    In USA, California set aside $39.1 Million for Hydrogen Fuel Stations to create 36 new hydrogen fuel cell stations. Fuel cell drivers are eligible for a federal tax credit of up to $8,000 and a rebate from the state of $4,500 

     

    Japan is the leader in the development of fuel cells and has sold Mirai and Sora for over 5 years. For the Olympics, Japan built as many as 35 hydrogen fuel stations in Tokyo alone with a goal of 80 stations and 100,000 fuel cell vehicles in the country by 2025.

     

    Toyota is aiming to accelerate development of commercial fuel cell electric vehicles (FCEVs), particularly small-size commercial trucks, with a tie-up with Isuzu. Fukushima’s hydrogen potential is attracting co-operation from Japan’s car industry in developing infrastructure to supply fuel cell electric vehicles (FCEVs) to help achieve the country’s 2050 decarbonisation goal

     

    Germany plans to invest 9 billion euros ($10.6 billion) while for France and Portugal the figure is 7 billion euros each. Britain plans to spend £12 billion ($16.6 billion) for fuel cell development and hydrogen stations.

     

    The European Union is aiming to push hydrogen’s share of its energy supply from 2% currently to 12-14% by 2050. Germany is approaching Morocco to use solar power to make hydrogen. The Green Spider and Green Flamingo projects are developing maritime highways for hydrogen and gas pipelines to link Spain and Portugal to northern Europe.

     

    Even as the technology for pollution-free transportation gains traction, global automotive maker Bosch anticipates platinum to play only a tiny role in its new fuel cells, offering precious metal markets little advantage.

     

    To make up for declining amounts used in each device, hopes of restoring platinum demand and pricing are largely reliant on widespread use of fuel cells in vehicles, ships, and trains. In its intentions to mass-produce fuel cells, platinum was projected to play just a minor part.

     

    The fuel cell electric drive system is a cost-effective and appealing solution for mobility that emits no local pollution. A fuel cell electric car is an electrically powered vehicle that uses hydrogen as an energy source to generate electricity.

     

    The energy is converted into motion by the electric drive. Alternatively, the traction battery can temporarily store this energy. This type of drive system isn’t just for city driving; in fact, it’s most stunning while travelling over vast distances of several hundred kilometres. 

     

    Fuel cell electric vehicles also get credit for their quick refilling times, which are only a few minutes.  Bosch develops numerous components for fuel cell electric drives and makes them production-ready through proper research and development.

     

    COVID-19 IMPACT ON AUTOMOTIVE FUEL CELL MARKET

    The sale and manufacture of new vehicles came to a halt due to the lockdowns and restrictions put in place to curb the COVID-19 pandemic during the initial breakdown. The OEMs waited to resume the production activities until after the lockdowns were lifted which has greatly affected the economy. The manufacturers had to adjust the volume of production which affected the liquidity issues faced by many Tier 2 and Tier 3 automakers.

     

    The automotive industry is mainly run by the investments and capital incentives for their operations to run smoothly. As during the outbreak restrictions were put in place that hampered the production activities, it caused lower demand and unprecedented impact on the FCEV manufacturers as well as the automotive fuel cell manufacturers. Due to the pandemic, countries imposed lockdowns which were lifted based on levels of clearance to resume necessary production activities with pandemic protocols. 

     

    However, the automotive industry did not take a huge plunge, OEMs did not report major losses, only a few companies recorded loss in revenue. The demand for vehicles increased by the end of the year 2020 which recovered most of the companies. The demand for the fuel cell EV from Toyota rose during the second half due to huge demand for low-emission vehicles.

     

    The company is now working on developing more efficient fuel cells for the new Mirai FCEV as well as to sell the fuel cell to other OEMs as part of the company’s environmental vision of 2050.

     

    AUTOMOTIVE FUEL CELL MARKET SIZE AND FORECAST

    Due to the push received by various governments, the automobile industry will have a minor shift towards fuel cell vehicles in the next 5 years mainly in China, Japan and South Korea.

     

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    The global outreach will take some more time and in the next 15 years fuel cell vehicles will be popular on roads. The main difficulty of storage and fuel cell stations will be key for the widespread reach of this technology.

     

    The governments across the world are providing incentives for the development of infrastructure for hydrogen fuel cells to provide OEMs with the opportunity to produce more and expand their revenues.

     

    The market in the Asia-Pacific region is expected to grow with a steady pace due to high demand for low emission and economical vehicles. The market in the North American region is by far the fastest growing market which is due to numerous incentives provided by the government and high performance of the automotive industry. 

     

    The global automotive fuel cell market is estimated at $XX Million in 2023, growing at –% CAGR till 2030.

     

    RECENT TREND IN THE AUTOMOTIVE FUEL CELL MARKET

     

    SI No Timeline Company Developments
    1 November 2021 Ballard Power Ballard Power has announced that they have acquired Arcola Energy in order to help the customers for hydrogen fuel cell powertrain and vehicle systems integration.
    2 November 2021 Ballard Power 40 fuel cell modules have been ordered from Ballard Power in order to deploy hydrogen fuel cell electric buses across Europe in 2022.
    3 October 2021 Plug Power At the Plug Power Symposium Plug Power Inc has revealed the HYVIA hydrogen ‘Renault Master Van H2-Tech prototype’. This is the first time the new hydrogen fuel cell powered van is being shown in North America.
    4 August 2021 Cummins Inc Cummins has launched the Coradia iLint which will run on hydrogen fuel cell modules with zero-emission rail lines.
    5 July 2021 Ballard Power Ballard has received an initial order of 15 70-kilowatt(KW) FCmovies-HD fuel cell modules from Tata Motors for zero-emission Fuel Cell Electric Buses(FCEBs).  
    6 March 2021 Ballard Power In NewZealand the first-ever Fuel Cell Electric bus has been powered by Ballard Power’s fuel cell module.
    7 February 2021 Cummins Inc The first commercial zero emission ferry has been powered by Cummins Fuel cell in North America  and it is powered by Cummins 360kW fuel cell and can speed up to 22 knots.

     

    • In August 2021, Eberspacher VAIREX launched the new air compressor product range for fuel cells.
    • In August 2021, the California Energy Commission approved a $4 million grant to Equilon enterprises LLC (Shell Oil Products) to develop and demonstrate the multi-modal hydrogen refueling station in California.
    • In August 2021, ZeroAvia completed the high powered first test series for the new 600 kW hydrogen fuel cell powertrain for use in a 19-seat aircraft.
    • In June 2021, a local governing body in London launched a fleet of hydrogen fuel based double decker buses to operate in the fleet for public transport in the city.
    • In June 2021, Land Rover announced plans to begin trials of the Land Rover Defender FCEV by the end of the year 2021.
    • In February 2021, Toyota developed a packaged Fuel Cell System Module that incorporates functions like fuel cell stacks which, in integration with the compact package, makes it compatible for the upcoming projects of the company.
    • In January 2021, Hyundai launched its fuel cell development company HTWO, it has set up a production and development factory in Guangzhou China to produce approximately 6500 fuel cells annually. 
    • In December 2020, Toyota started to sell its 2nd generation Mirai FCEV which uses a 1.2 KWh Li-ion battery. The car can run over 600 kms on a single tank of hydrogen.
    • November 2020, Nuvera launched the E-60 fuel cell engine to be used in the handling of equipment, heavy trucks as well as off road vehicles.
    • In November 2020, the Hyundai motor company signed an MOU with Ineos for the development of hydrogen fuel cells. Both will seek to facilitate the public and private sector projects which will focus on the development of the hydrogen value chain in Europe.
    • November 2020, Proton Motor Power Systems launched a tailor made hydrogen fuel cell system to be used for 214 KW installed rail milling machines in underground railway tunnels.
    • September 2020, Hyundai launched a new model of Tucson with in segment features and leading capabilities. It is the 4th generation model compatible with different types of fuel cells.
    • September 2020, Ballard Power Systems introduced high power density fuel cell stacks for vehicle propulsion the FCgen HPS. 
    • Robert Bosch GmbH has signed a licensing agreement with Powercell Sweden ABB to mass produce hydrogen fuel cells for the electrification of heavy duty commercial vehicles.

     

    RECENT ACQUISITION IN THE AUTOMOTIVE FUEL CELL MARKET

    Plug Power, a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, announced today that it has signed a collaboration agreement with Atlas Copco Mafi-Trench Company LLC, Atlas Copco’s turboexpander technology centre, and Fives, a global leader in brazed heat exchangers and cryogenic cold boxes, to develop hydrogen liquefaction plants together.

     

    Liquifying hydrogen makes it easier to transport, resulting in significant cost savings and more widespread distribution. This purchase follows the acquisition of a process solution and engineered equipment provider with a good track record of execution among the world’s leading EPC (Engineering, Procurement, and Construction) and oil and gas midstream firms.

     

    Joule’s established cryogenic process technology for the gas processing sector is immediately applicable to hydrogen liquefaction and has the potential to cut the cost of liquefied hydrogen by 25%.

     

    RECENT LAUNCH IN THE AUTOMOTIVE FUEL CELL MARKET

    Following the GST Council’s decision to lower duty on hydrogen-powered vehicles, Toyota will examine the introduction of the Mirai fuel-cell car in India, while homegrown Tata Motors and Korean Hyundai could be other manufacturers to gamble on zero-emission technology.

     

    Hyundai Motor Group has been working on related technologies by mass-producing FCEVs and releasing new FCEV designs on a regular basis.

     

    Through collaboration with the federal and municipal governments, the Group has continued to develop and provide hydrogen buses. In addition, for the first time in the world, Hyundai Motor Group mass-produced large-scale hydrogen trucks and exported them to Europe.

     

     Hyundai Motor Group intends to use hydrogen fuel cells in urban air mobility (UAM), huge vessels, and trains in the future. To increase the FCEV market, we are actively developing hydrogen charging infrastructure.

     

    Hyundai Motor Group has added commercial vehicles to its Fuel Cell Electric Vehicle (FCEV) line, introducing XCIENT Fuel Cell, the world’s first mass-produced heavy-duty fuel cell truck line.

     

    A manufacturer of hydrogen energy solutions, ITM Power is a UK-based energy storage and clean fuel firm. Automotive fuel cells, which are used to power hydrogen fuel cell electric cars, are one of their primary products.

     

    The ITM Power HGas is a brand-new automobile fuel cell product from ITM Power. This product aims to increase the use of hydrogen as a zero-emission fuel by providing an inexpensive and dependable option for FCEVs.

     

    A proton exchange membrane (PEM) fuel cell system called the ITM Power HGas is scalable from 5 kW to 100 kW, making it appropriate for a variety of automotive applications, including light-duty vehicles and passenger cars.  Additionally, the system is intended to be modular, making it simple to integrate into current vehicle chassis.

     

    In order to hasten the adoption of FCEVs, which provide a number of advantages over conventional gasoline or diesel-powered cars, including zero-emission operation and quick refuelling periods, the ITM Power HGas launch represents a significant step.

     

    Products like the ITM Power HGas will become more crucial as more businesses and governments attempt to move to a low-carbon economy in order to help cut emissions of greenhouse gases and battle the effects of climate change.

     

    The newest vehicle fuel cell device was introduced by Hydrogenics, a well-known developer and manufacturer of hydrogen production and fuel cell power systems. The “Celerity” fuel cell system is a brand-new technology that aims to supply clean, effective electricity to electric vehicles.

     

    The proton exchange membrane (PEM) technology from Hydrogenics, which has been employed in a number of applications including stationary power production, material handling, and transportation, is the foundation of the Celerity fuel cell system.

     

    The system has a cutting-edge air management technology that allows it to function at high efficiency levels even in challenging circumstances. It is perfect for usage in electric vehicles since the Celerity fuel cell technology is made to be small and light.

     

    It can power a variety of vehicles, from light-duty trucks to tiny passenger automobiles, with a power output of up to 75 kilowatts (kW). The next generation of fuel cell cars is planned to heavily rely on the Celerity technology, which Hydrogenics has already developed and tested in collaboration with many top manufacturers.

     

    In order to promote the use of fuel cell technology as a crucial component of the switch to a low-carbon transportation system, the firm is also closely collaborating with governmental organisations and other stakeholders.

     

    The development of clean and effective transportation technologies has advanced significantly with the introduction of Hydrogenics’ Celerity vehicle fuel cell technology. The Celerity system has the potential to be a game-changer in the transition to a low-carbon, sustainable transportation system because to its cutting-edge technology and compact form.

     

    COMPETITIVE LANDSCAPE IN THE AUTOMOTIVE FUEL CELL MARKET

     

    SI No Timeline Company Sales
    1 Dec 2021 Plug Power Plug Power completed the acquisition of Frames Group, a leader in turnkey systems integration for the energy sector.
    2 Dec 2021 Cummins Inc. Cummins Inc. (NYSE: CMI) took a new step  in advancing zero-carbon technology when it began testing hydrogen-powered internal combustion engines
    3 Nov 2021 Ballard Power  Ballard Power Announces Acquisition of Arcola Energy to Help Customers Integrate Fuel Cell Engines into Heavy-Duty Mobility

     

     

    SI No Timeline Company Sales
    1 Q3-2021 Plug Power At the end of third quarter the net revenue of Plug Power was $115.99 million and in 2020 the net revenue was $83,66 thousands.
    2 Q3-2021 Cummins Inc The sales of Cummins at the end of the third quarter was $5.9 billion and in the previous year the sales was about $5.1 billion.
    3 Q3-2021 Ballard Power Systems Ballard Power Systems net revenue at the end of the third quarter was $25,220 thousand and in 2020 the revenue was $25,624 thousand.
    4 2021 ITM Power The year ended in April 2021, the sales revenue of ITM Power was £4.3 million and in 2020 the sales revenue was £3.3 million with a rise of 30%.

     

    The company Toyota in March 2021 partnered with Hino Motors for the development of heavy duty fuel cell trucks. Under the agreement, Hino Motors will feature the company’s Polymer electrolyte fuel cell stacks in the Profia truck.

     

    The company Robert Bosch GmbH in March 2021, announced that the company is planning to develop automotive fuel cell system components and to commercialize them by the year 2022. The company is also developing hydrogen fuel stacks along with integrated systems to combine the key components of fuel cell vehicles including hydrogen air valves and gas injectors.

     

    The company Plug Power recently released the financial results for the second quarter of the year 2021. The company recorded the net revenue worth $124.6 million which was an increase by a whopping 83% as compared to the second quarter of the year 2020. The company also recorded gross billings worth $126.3 million for the Q2 of the year 2021 which was a 75% increase year on year.

     

    The company in August 2021 also announced the development of a new facility for the production of 15 tons of liquid green hydrogen daily in Georgia.

     

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    The company has also entered into a partnership agreement with Apex clean energy for the development of a 345 MW wind power purchase as well as a production facility for green hydrogen. The plant is anticipated to produce 30 metric tons per day of clean liquid hydrogen which will be enough to fuel over 2000 light commercial vehicles.

     

    The company has also partnered with BAE systems for the supply of zero emission powertrains for heavy duty transit buses which will integrate Plug power’s ProGen fuel cell engines into BAE system’s smart electric drive systems.

     

    The company Cummins Inc. acquired the fuel cell and hydrogen production technology provider Hydrogenics in September 2019 taking up the company’s development in the hydrogen fuel cell domain. Cummins released the second quarter results for the year 2021, with revenues worth $6.1 billion which was a significant increase in approximately 59% from the same quarter in 2020.

     

    The total sales in the North American region increased by 74% while the international revenues increased by a whopping 42% which is due to increase in the global demand.

     

    In July 2021, the company Cummins signed a memorandum of understanding (MOU) with Air products which is a leader in supply and transportation of hydrogen. Under the agreement, the joint venture will work together to accelerate the development of hydrogen fuel cell trucks in the US, Asia and Europe.

     

    The company also signed an MOU with Chevron products to develop commercially viable business opportunities in hydrogen and other alternative energy sources. The company is all set to acquire 50% equity interest in Rush Enterprises in the department of Momentum fuel technologies.

     

    As of May 2021, the company Indian Oil Corporation is making strong moves for the production of alternative fuel sources such as hydrogen fuel cells. The company is set to roll out 50 hydrogen fuel based buses from Haryana and Gujarat refineries and is also eager to partner with budding OEMs for the production of hydrogen FCEV projects.

     

    COMPANY PROFILES IN THE AUTOMOTIVE FUEL CELL MARKET

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2023-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2023-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2023-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
       
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