The global automotive fuel cell market is rising at a breakneck speed. This is because of the several advantages of fuel cells vehicles. Foremost among them is the superb fuel efficiency. Second, it has an impressive driving range. Third, it offers fast refueling. Fourth, those have reduced dependency on oil and hence have limited greenhouse gas emission. This is because most fuel cells draw oxygen from the air and use compressed hydrogen for their operation. As a result, they give out water and heat instead of harmful pollutants. Because of the aforementioned, the fuel cell vehicles are seeing high uptake.
Thrust on Checking Vehicular Pollution Drives Global Automotive Fuel Cell Market
The rising thrust by governments across the world for curbing vehicular pollution is mainly boosting the phenomenal growth of the global automotive fuel cell market. They are setting new emission standards for commercial vehicles and passenger cars. Those are mainly expected to bolster demand in the global automotive fuel cell market, particularly in developing nations where a spurt in vehicle on the streets is increasing the level of pollution. This has egged authorities to frame stringent rules to curb emissions. One way to go about it is to substitute internal combustion engine vehicles with fuel cells.
At present, the various types of vehicles are seen adopting fuel cells. Those can be broadly grouped into commercial vehicles and passenger vehicles. While the passenger vehicles mainly comprise of sedans, hatchback cars, sports utility vehicles, and multi-purpose vehicles, the commercial vehicles comprise of heavy commercial vehicles and lightweight commercial vehicles. Currently, the passenger vehicles are driving most of the demand and sales in the global fuel cell market. This is because the fuel cells offer various advantages such as greater driving range and reduced emission of noxious fumes.
Despite looking so upbeat, there are a few challenges nonetheless, that are hampering the growth of the global automotive fuel cell market. Those include the highly flammable nature of fuel cells. Besides, it’s hard to detect hydrogen leakages in fuel cells making those dangerous at times. Further, high cost of vehicles and inadequate hydrogen infrastructure are posing a difficulty to the market’s growth. But the biggest threat being posed to the global automotive fuel cell market is the rising popularity of battery electric vehicles and hybrid electric vehicles.
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However, such bottlenecks will not much affect the growth trajectory of the global automotive fuel cell market. This is because of the rising fuel cell vehicles in transportation and automotive sectors. Besides, initiatives by government to build hydrogen infrastructure is also having a positive impact on the market.