India Automotive Fuel Cell Market Research Report, 2027

India Automotive Fuel Cell Market Research Report, 2027

Actual Market Research 29-06-2022 55 Pages Figures : 8 Tables : 16 Region : Asia-Pacific Country : India Category : Automotive & Transport Automotive

Many automobile companies exist in India and most vehicles run on fossil fuel like petrol and diesel. This type of vehicle emits a lot of carbon into the environment. Due to the current energy crisis, environmental degradation, and climate change impacts from fossil fuels, India is exploring clean and effective alternatives to fossil fuels, including the use of fuel cell technology. A fuel cell is used to produce the electrical current required to power various gadgets by converting chemical energy into electrical energy. This is done when the fuel and the oxidising agent undergo a series of redox reactions, resulting in the production of electrons, water, and heat as by-products. India is also taking significant steps to improve energy efficiency. In February of 2020, India’s National Thermal Power Corporation Limited (NTPC) invited global expressions of interest to provide 10 hydrogen fuel cell buses and cars in Leh and Delhi. These projects foresee hydrogen production through renewable energy sources and utilising it for use in fuel cell vehicles for public transportation. NTPC will provide renewable energy for hydrogen production, set up hydrogen generation and fueling stations at locations based on inputs from applicants, and coordinate with local transport authorities. According to the report titled "India Automotive Fuel Cell Market Overview, 2027" published by Actual Market Research, the automotive fuel cell market in India is expected to grow at a CAGR of over 44% during the forecast period. PEMFCs have a large demand due to their advantages like fast start-up, flexibility in input fuel, compact design, lightweight, low cost, and solidity of electrolyte. Methanol fuel cells have low demand because methanol is made from non-renewable resources. It is highly flammable and toxic in nature. On the basis of power output of fuel cells, below 100 KW power fuel cells, 100 KW to 200 KW power fuel cells, and above 200 KW power fuel cells are present in the Indian market. It is appropriate for vehicles that require a medium range of power during operation. An increase in demand for fuel-efficient automotive, high-performance and low-emission vehicles, and government initiatives to reduce its oil dependence and cut pollution are some of the driving factors for the Indian automotive fuel cell market. In addition to this, several automakers are investing in vehicles with cleaner fuels to lower carbon emissions and create a greener environment. However, stringent government regulations, lack of infrastructure and high investment costs are the major restraining factors. Mergers and acquisitions activity in the hydrogen-cell sector, coupled with increasing foreign investment and lower import duties on electric cars, is promising for the forecast period. But, complicated storage and transport requirements and the availability of alternatives are some of the challenges faced by the industry. Hydrogen fuel cell technology uses hydrogen and oxygen for generating electricity through an electrolyte membrane, and the resulting by-product is water. It is a clean and environmentally friendly technology to replace fossil fuels, which produce carbon dioxide. In 2021, the market attractiveness of methanol fuel cells was low, and by 2027, it is expected that the market attractiveness will grow constantly. Phosphoric acid is a unique inorganic acid electrolyte, which is generally used in fuel cell applications at around 200 °C in order to obtain higher system efficiency where its concentration is over 100%. Alkaline fuel cells use a solution of potassium hydroxide in water as the electrolyte and can use a variety of non-precious metals as catalysts at the anode and cathode. In recent years, novel AFCs that use a polymer membrane as the electrolyte have been developed. The CAGR of PEMFC was high from 2016 to 2021, and during the forecast period it will have robust growth. In India, fuel cells having a power output of less than 100 KW are more suitable for light-weight vehicles like cars and small vans which are used for short distances. At a heavy load, above 200 KW provides more power to the engine for proper functioning. Market growth will be at its peak by 2027. Sainergy Fuel Cell India Pvt. Ltd. is capable of manufacturing high performance fuel cell electrodes and membrane electrode assemblies for PEMFC and DMFC. SFC Energy and FC TecNrgy have inked a pact to enter into the manufacturing of hydrogen and methanol fuel cells in India. Adani Group and Ballard Power Systems have joined hands to evaluate a joint investment in hydrogen fuel cell manufacturing in India. Reliance Industries (RIL), Larsen & Toubro, JSW Steel, Jindal Steel, NTPC, BPCL, and Indian Oil Corp, among others, have announced plans to set up green hydrogen units. In India, the spread of the COVID-19 virus has significantly impacted the hydrogen fuel-cell vehicle market. The lockdowns initiated by governments in most of the region have resulted in the countries' economic crisis, which has pushed the automotive industry to a near-collapse condition, shutting down factories and emptying showrooms. Considered in this report • Geography: India • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • India Automotive Fuel Cell market and its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Five force models • Top profiled companies • Strategic recommendation Fuel cell by Electrolyte type • Proton Exchange Membrane Fuel Cell (PEMFC) • Direct Methanol Fuel Cell (DMFC) • Others (Alkaline fuel cell and Phosphoric acid fuel cell) Fuel cell by Fuel type • Hydrogen fuel • Methanol fuel Fuel cell by Power output • Below 100 KW • 100 to 200 KW • Above 200 KW The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to automotive fuel cell industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Read More

Card image cap

Interested in this report?
Get your FREE sample!

Requirement Gathering & Methodology
Data Collection Techniques
Our Research Team & Data Sourcing
Data Science & Analytical Tools
Data Visualization & Presentation Skills
Project/ Report Delivery & After Sales Services