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Fuel Cells Market for Automotive Industry: COVID-19 to Negatively Impact Growth | Forecasting Strategies for New Normal | Technavio


Technavio has been monitoring the fuel cells market for the automotive industry and it is poised to grow by 1,695.29 MW during 2020-2024, progressing at a CAGR of almost 25% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the fuel cells market for the automotive industry. The market growth in 2020 is likely to increase compared to the market growth in 2019.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ballard Power Systems Inc., Cummins Inc., ElringKlinger AG, Horizon Fuel Cell Technologies Pte. Ltd., Intelligent Energy Ltd., Nedstack Fuel Cell Technology BV, Nuvera Fuel Cells LLC, Oorja Corp., Plug Power Inc., and PowerCell Sweden AB are some of the major market participants. Although the increased demand for efficient and cleaner fuel will offer immense growth opportunities, the lack of refueling infrastructures for FCEVs is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this fuel cells market for automotive industry forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Fuel Cells Market for Automotive Industry 2020-2024: Segmentation

Fuel Cells Market for Automotive Industry is segmented as below:

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Fuel Cells Market for Automotive Industry 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The fuel cells market for automotive industry report covers the following areas:

This study identifies the reduction in the cost of fuel cell systems as one of the prime reasons driving the Fuel Cells Market for Automotive Industry growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.

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Fuel Cells Market for Automotive Industry 2020-2024: Key Highlights

Table of Contents:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Application

Customer landscape

Geographic Landscape

Vendor Landscape

Vendor Analysis

Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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