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Europe Automotive Fuel Cell Market Trends

Report ID: GMI7287
Published Date: Nov 2023
Report Format: PDF

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Europe Automotive Fuel Cell Market Trends

Long-range capabilities, quick refueling, and suitability for logistics and public transportation are some characteristics which will accelerate the business scenario. Substantial growth in the transport sector, increasing focus on renewable energy in line with growing research and development activities will positively influence the industry dynamics. Additionally, upsurge in public- private partnerships coupled with rising investments to develop the network for hydrogen filling stations will continue to boost the product demand.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of automotive fuel cell in Europe was crossed USD 0.5 billion in 2022 and will reach USD 1.8 billion by 2032, due to the ongoing efforts to expand the hydrogen infrastructure along with large scale investments by governments and private sectors in the region.

The PEMFC type segment in the Europe automotive fuel cell market is projected to surpass USD 263.4 million by 2032, due to the favorable government norms to promote eco-friendly technologies along with technological advancement in design and development of fuel cells.

Germany automotive fuel cell industry size is expected to record over 13.5% CAGR from 2023 to 2032, owing to the growing investments for the development of hydrogen stations and rising inorganic strategic ventures by the key players.

Some of the influential Europe automotive fuel cell market players are Ballard Power System, FuelCell Energy, Inc, Toshiba Energy Systems & Solutions Corporation, Cummins Inc., Panasonic Holdings Corporation, Bloom Energy, Convion Ltd, Hyster-Yale Group, Inc., among others.