Top key players profiled in the Hydrogen Fuel Cell Vehicle Market include Honda, Toyota, Hyundai, Daimler, Audi, BMW, Volvo, Ballard Power Systems, General Motors, and MAN.
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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.
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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.
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.
North America is expected to dominate the global hydrogen fuel cell vehicle market in 2023, in terms of revenue. Japan is expected to register the highest growth in the Asia-Pacific market in terms of revenue. Moreover, the U.S. is anticipated to dominate the market in North America during the forecast period, whereas the UK is anticipated to lead the European region.
The key players profiled in the report include Honda, Toyota, Hyundai, Daimler, Audi, BMW, Volvo, Ballard Power Systems, General Motors, and MAN.
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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