The Global Fuel Cell Powertrain Market Size is projected to grow from USD 103.6 million in 2020 to USD 3040.1 million in 2027 at a CAGR of 62.1% during the forecast period. Fuel Cell Powertrain (FCP) is an electrically driven system in which energy stored as hydrogen gets converted into electric power using a fuel cell. Unlike internal combustion engine powertrain system, fuel cell power train is highly efficient and eco-friendly, FCPs do not emit harmful emissions. Fuel cell powertrains are used in several vehicles including buses, passenger cars, LCVs, trucks, and industrial vehicles due to various advantages such as energy efficiency, eco-friendliness, zero-emission, no noise pollution, and longer life span.
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Rising Awareness Related to The Increasing Greenhouse Gas Emission is Boosting the Market Growth
The consumption of fossil fuel has been rising significantly across the globe. The transportation sector is the largest consumer of fossil fuel. The increasing consumption of fossil fuel has led to a rising concentration level of greenhouse gas emissions. In order to reduce greenhouse gas emissions, various low polluting fuels and vehicles have been introduced such as hybrid electric vehicles, battery-powered electric vehicles, fuel cell vehicles, Compression Ignition (CI) engines, and advanced Internal Combustion Engine (ICE) to improve environmental conditions. Fuel cell vehicles utilize hydrogen to the propulsion of vehicles and offer lower emissions than other alternatives. These factor has led to support the market growth during the forecast period.
Major Manufacturers included in Fuel Cell Powertrain Market are:
Robert Bosch GmbH, (Columbus, Indiana, US)
Denso Corporation (Aichi, Japan)
Cummins Inc. (Columbus, Indiana, US)
Ballard Power Systems (Burnaby, Canada)
FEV Europe GmbH (Aachen, Germany)
Doosan Fuel Cell Co., Ltd. (Seoul, South Korea)
Arcola Energy Limited (Hackney, UK)
Fuel Cell Powertrain Market Segments Product Type as:
Rear-Wheel Drive (RWD)
Front-Wheel Drive (FWD)
All-Wheel Drive (AWD)
The Applications can be Fragmented as below:
Passenger Cars
Commercial Vehicle
Buses
Regions profiled in this report are:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
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This research report provides a brief overview of past statistics and future trends to determine a forecast of the Fuel Cell Powertrain market's potential growth, allowing readers to understand business-oriented decisions while also experiencing a stable growth approach in the international marketplace. The Fuel Cell Powertrain market report highlights major growth prospects during the forecast period, as well as some exceptional factors related to the Fuel Cell Powertrain industry globally. This report enables you to provide fundamental industry insights that are extremely valuable for industry expenditure, as well as a detailed competitive strategy.
Scope of the ReportThis report provides an in-depth analysis of the Fuel Cell Powertrain market, tracking four market segments across four geographic regions.
The report studies key players, providing a six-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, and the rest of the world.
The report also presents a forecast, focusing on the market opportunities for the next six years for each region.
The scope of the study segments the Fuel Cell Powertrain market by Component, Drive Type, Vehicle Type, Power Output, and RegionGet free sample pdf @ https://www.marketresearchfuture.com/sample_request/10393 Market HighlightsThe Fuel Cell Powertrain is an electrically powered device in which a fuel cell transforms energy stored as hydrogen into electricity.
This is part of a hybrid fuel cell vehicle, in which a fuel cell produces electricity using hydrogen as an energy supply.
Continuous technological developments in the automobile industry are substantially boosting the development of the powertrain fuel cell sector worldwide.
