Europe Automotive Fuel Cell Market Size - By Type (PEMFC, PAFC & AFC), By Power Output (< 100 kW, 100 – 200 kW, > 200 kW), By Application (Passenger Cars, Commercial Vehicles) & Forecast, 2023 – 2032

Europe Automotive Fuel Cell Market Size

Europe Automotive Fuel Cell Market was valued at USD 0.5 billion in 2022 and is anticipated to expand at 14.1% CAGR from 2023 to 2032. A fuel cell is an electrochemical device that generates electricity by combining hydrogen and oxygen, producing water as the only byproduct. These are used to power vehicles, creating electric power on board through the chemical reaction between hydrogen fuel and oxygen from the air. Ongoing efforts to expand the hydrogen infrastructure along with large scale investments by governments and private sector for the development of hydrogen refueling stations to further support FCV adoption will fuel the market trends.
 

Setting up of climate reduction targets to reduce greenhouse gas emissions along with introduction of various incentives and subsidies will enhance the business landscape. For instance, in October 2020, the Spanish government introduced its Hydrogen Roadmap in line with the Integrated Energy and Climate Plan (PNIEC) 2021-2030 to reduce its carbon footprint as well as improve upon its penetration of renewable energy sources.

COVID- 19 Impact

This COVID- 19 pandemic has significantly impacted major world economies where numerous component manufacturing facilities continue to be obstructed. The outbreak has delayed a wide array of projects slowing the supply chain, thereby affecting the overall production and demand for fuel cells. However, booming transportation sector along with increasing investments by small players will affect the overall market size.
 

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.
 

Europe Automotive Fuel Cell Market Analysis

Based on type, the PEMFC market will cross USD 263.4 million by 2032 on account of favorable government norms to promote eco-friendly technologies along with technological advancement in design and development of fuel cells. Increasing infrastructure spending toward the development of H2 refueling stations combined with growing demand of environment friendly vehicles will further enhance the adoption of fuel cells across the automotive sector.
 

Based on power output, the < 100 kW fuel cell market is estimated to gains at nearly 13.5% up to 2032. Lesser weight, lower costs, and minimum refueling time are some of the prominent features that will positively influence its efficiency over other counterparts. Ongoing technological development in conjunction with financial incentives & subsidies will further drive the industry scenario. Ongoing deployment of fuel cell in e-bikes, UAVs, and across numerous commercial vehicles will complement the industry growth.
 

Commercial vehicles market will surpass USD 269.9 million by 2032. Ongoing installation of movable charging sources along with public & private collaborations to develop and commercialize fuel cell technologies within automotive industry will augment the business landscape. Features comprising of long-range capabilities, rapid refueling, and zero emissions will boost the product adoption. Additionally, automakers introducing new models coupled with growing consumer awareness and acceptance for FCVs will positively complement the industry potential.
 

Germany automotive fuel cell market will exhibit a growth rate of over 13.5% from 2023 to 2032. Inorganic strategic ventures by the key players along with growing investments for the development of hydrogen stations will drive the business outlook. The development of hydrogen society along with the increasing adoption across residential & commercial establishments in developing nations will augment the industry trends. Moreover, the introduction of subsidies by respective government authorities to promote the adoption of fuel cells will enhance industry growth.
 

Europe Automotive Fuel Cell Market Share

Eminent players operating in the Europe automotive fuel cell industry are:

• Ballard Power Systems
• FuelCell Energy, Inc
• Toshiba Energy Systems & Solutions Corporation
• Cummins Inc.
• Panasonic Holdings Corporation
• Bloom Energy
• Convion Ltd
• Hyster-Yale Group, Inc.
• Advent Technologies
• BorgWarner Inc.
• Daimler Truck AG
• Ceres
• Hyundai Motor Company
• ITM Power PLC
• Nedstack Fuel Cell Technology BV
• NUVERA FUEL CELLS, LLC
• TW Horizon Fuel Cell Technologies
• Fuji Electric Co., Ltd.

Europe Automotive Fuel Cell Market News

• In April 2022, Cummins Inc. received order from Scania to provide proton exchange membrane fuel cell systems. These systems will be integrated with Scania’s battery EV platform to be used in 20 fuel cell electric trucks. Further, these trucks will be delivered to HyTrucks by 2024 in Netherlands. The company has supported zero emissions and hydrogen refueling station goals of the country while maintaining its strong position in the industry.
   
• In November 2020, NUVERA FUEL CELLS, LLC commercialized the Nuvera E-60 fuel cell engine, a new addition to the E-series family of efficient, reliable, and compact solutions for the electrification of vehicles. The product offers an output power that aids OEMs to meet the escalating demand for vehicle performance and wide applications. It is equipped with patented control logic and a fully integrated compressor for optimized operations. The E-series also involves low operational costs, durability, and compactness.
   

This Europe automotive fuel cell market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘Units & USD’ from 2023 to 2032 for the following segments:

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By Type

• PEMFC
• PAFC & AFC
• Others

By Power Output

• < 100 kW
• 100 – 200 kW
• > 200 kW

By Application

• Passenger cars
• Commercial vehicles
• Others

The above information has been provided for the following countries:

• Germany
• UK
• France
• Italy
• Spain
• Austria
• Rest of Europe