DUBLIN--(BUSINESS WIRE)--Sep 29, 2022--
The "Fuel Cell Powertrain Market by Component (Fuel Cell System, Drive System, Battery System, Hydrogen Storage System, and Gearbox), Vehicle Type (PC, LCV, Trucks, Buses), Power Output, Drive Type, H2 Fuel Station and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
High power demand in commercial vehicles will boost >250 kw segment
The feasibility of the >250 kW power segment is being studied by various OEMs. This fuel cell powertrain is mainly used to pilot heavy vehicles. Nikola is one of the major OEMs involved in activities related to the piloting of the >250 kW fuel cell powertrain in its Nikola One truck model. This truck is capable of producing a staggering 745 kW power output.
The second generation of the BMW fuel cell powertrain system will give an output of 275 kW, which will be piloted in the BMW i Hydrogen NEXT from 2022. Once this vehicle is rolled out, the truck market is expected to experience rapid changes as the company offers 100% zero emission, which would become the norm. More such developments are expected to drive the growth of the >250 KW segment in the fuel cell powertrain market during the forecast period.
Heavy-duty transportation such as trucking needs a high driving range, power, and efficiency. Fuel cells with an output of more than 250 kW are more suitable and sustainable for such applications as compared to battery-powered vehicles. Hence, in countries like the US and Australia, where long-haul trucking has high demand, high-powered fuel cell trucks will witness high impactful growth opportunities. The heavy-duty commercial vehicle industry will undergo a revolutionary change due to the presence of fuel cell vehicles with more than 250 kW power output in the coming decade. This will help in emission reduction, and the demand for refueling stations will be manageable at a certain distance from each other.
Government investment in research and infrastructure will drive market in Australia
Australia is estimated to be the largest in the fuel cell powertrain market and is also estimated to be the fastest growing over the forecast period. Factors such as high demand as well as government initiatives to promote the growth of FCEVs will play a critical role in driving the market. according to the report published by the Australian Renewable Energy Agency (ARENA), around 2,800 jobs and USD 1.2 billion in revenue can be generated annually by 2030 by hydrogen exports.
Japan, China, and South Korea are the potential markets for these exports. In March 2022, The government is boosting its support for uptake heavy hydrogen fuel cell vehicle by funding construction of first public new energies service station in Geelong, Victoria, through Australia Renewable Energy (ARENA) is providing USD 22.8 million to Viva Energy (Australia) for building the hydrogen cell refueling station.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Fuel Cell Powertrain Market, by Component
8 Fuel Cell Powertrain Market, by Drive Type
9 Fuel Cell Powertrain Market, by Power Output
10 Fuel Cell Powertrain Market, by Vehicle Type
11 Fuel Cell Powertrain Market, by H2 Fuel Station
12 Fuel Cell Powertrain Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
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KEYWORD:
INDUSTRY KEYWORD: ALTERNATIVE ENERGY MANUFACTURING OTHER MANUFACTURING ENERGY OTHER ENERGY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/29/2022 10:47 AM/DISC: 09/29/2022 10:47 AM
http://www.businesswire.com/news/home/20220929005720/en