Global Automotive Fuel Cell Market is estimated to be US$ 66.56 billion by 2030 with a CAGR of 39.6%

Abhi795418 May, 2022Business

Global Automotive Fuel Cell Market accounted for US$ 2.43 billion in 2020 and is estimated to be US$ 66.56 billion by 2030 and is anticipated to register a CAGR of 39.6%. Fuel cells are used to power automobiles, which are propelled by hydrogen fuel. This sort of fuel is stored in high-pressure tanks and then supplied into a fuel cell stack, where oxygen and hydrogen from the air react to generate electricity. Unlike typical fuel cell vehicles, which usually run on diesel or gasoline, fuel cell vehicles generate electricity using a combination of oxygen and hydrogen. Fuel stacks for these fuel cells are available for a variety of vehicles, including RVs, cars, trucks, and buses.