Global Fuel Cell Powertrain MarketThe GMI Research forecasts that the Fuel Cell Powertrain Market is witnessing an upsurge in demand over the forecast period.
This is mainly due to their rising consumption in the packaging industry and various features imparted by them like less operating cost and plant availability.Request a FREE Sample on Fuel Cell Powertrain Market.Introduction of the Fuel Cell Powertrain MarketA fuel cell powertrain is an electric system where the energy stored as hydrogen converts into electricity through a fuel cell.
The cells are implemented across different applications, including material handling, emergency backup power, and transportation.Key Players of the Global Fuel Cell Powertrain Market:Ballard Power Systems.Cummins, Inc.BorgWarner Inc.Ceres Power Holdings plcITM PowerFCP Fuel Cell Powertrain GmbHContinental AGDenso CorporationRobert Bosch GmbHFEV Group GmbHFuel Cell Powertrain Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)The prominent drivers responsible for the growth of the global fuel cell powertrain market includes various advantages offered by them, such as better energy efficiency, lower discharge as compared to combustion engines; less operation cost because of the elimination of changing, charging, and managing batteries; and quiet operation due to more minor moving parts along with the increasing adoption of fuel cell electric vehicles (FCEV).
Moreover, the ongoing technological advancements, demonstration activities, and rising research and development supported by various leading organizations like the International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE); Canadian Hydrogen and Fuel Cell Association; and U.S. Department of Energy, the Fuel Cells and Hydrogen Joint Undertaking (FCH JU), Europe; and Fuel Cell & Hydrogen Energy Association, U.S.; will further strengthen the fuel cell powertrain market size.Besides this, other factors like augmenting awareness about the growing outflow of increasing greenhouse gas and air pollutants in the environment and swift technological transformations in the automotive sector contribute to the market growth.
However, as per the fuel cell powertrain market trends, the aggravating demand for battery and hybrid electric vehicles and the high ignitability of hydrogen spillage will curb the market growth.
Additionally, the sudden outbreak of the coronavirus pandemic has negatively influenced the market growth owing to the disturbance in supply chains and the production of vehicles throughout the world.Fuel Cell Powertrain Market Segmentation:Segmentation by ComponentFuel Cell SystemBattery SystemDrive SystemHydrogen Storage SystemOthersSegmentation by Vehicle TypePassenger CarsLight Commercial VehiclesBusesTrucksSegmentation by Drive TypeChemical Rear-Wheel Drive (RWD)Front-Wheel Drive (FWD)All-Wheel Drive (AWD)Segmentation by Power Output250kWSegmentation by Region:Asia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSaudi ArabiaUAESouth AfricaRest of the world (remaining countries of the LAMEA region)About GMI ResearchGMI Research is a market research and consulting company and provides enterprises with business sights and market research reports.