Press release
Hydrogen Fuel Cell Vehicle Market: Emerging Barriers, Drivers and Trends Analysis with Forecast to 2023
Hydrogen Fuel Cell Vehicle Market Report
The Global Hydrogen Fuel Cell Vehicle Market was valued at $278 million in 2016, and is projected to reach at $12,133 million by 2023, growing at a CAGR of 72.4% from 2017 to 2023, according to the latest report published by Allied Market Research.
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Presently, North America dominates the hydrogen fuel cell vehicle market. However, Japan is expected to register the highest growth in Asia-Pacific by 2023. Moreover, the UK is anticipated led the overall market in Europe in 2023. At present, the U.S. dominates the North American market.
Rise in environmental concern and government initiatives for the development of hydrogen fuel cell infrastructure drive the market growth. Furthermore, tax rebates and developments in aggressive hydrogen refueling stations (HRS) fuel the market growth. However, initial large investment in infrastructure is expected to restrain the market growth.
In 2016, the proton exchange membrane fuel cell segment dominated the global hydrogen fuel cell vehicle market, in terms of revenue. However, based on vehicle type, passenger vehicle led the global market in 2016.
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Key Hydrogen Fuel Cell Vehicle Market:
• Passenger vehicle generated the highest revenue in 2016.
• In 2016, the proton exchange membrane fuel cell segment accounted for the highest revenue in the hydrogen fuel cell vehicle market.
• Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
Key Market Players:
• Honda
• Toyota
• Hyundai
• Daimler
• Audi
• BMW
• Volvo
• Ballard Power Systems
• General Motors
• MAN.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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