Fuel Cell Commercial Vehicle Market 2023 Analysis and Strategic Growth by Leading Key Players: TOYOTA, WRIGHTBUS, HYUNDAI, NEW FLYER OF AMERICA

Market Analysis:

Plans such as relaxation on regulations to permit self-service hydrogen stations are expected to be rolled out especially by governments of Asia-Pacific countries like China and India where pollution and emissions are rampant. Also China has been identified as one of the largest global market for buses and commercial vehicles. It has also been noticed that major truck manufacturers are likely to produce more fuel cell based truck models during the forecasted period.

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Concern on air quality issues, rapid adoption of alternate fuel vehicles, growing mass urban transportation and strong government subsidies supporting eco-friendly vehicles are the major factors driving the fuel cell vehicles market. Plans of governments, after coming into effect, would help the station operators to generate revenue without depending on the government subsidies. This would help in rapidly increasing the hydrogen fuel station network, thereby further accelerating the growth of fuel cell commercial vehicle market.

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Market Segments:
Fuel Cell Commercial Vehicle Market is segmented by:
1. Vehicle Type: Trucks, Buses
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• February 2018: - Ballard announces planned deployment of 500 fuel cell commercial trucks by the end of 2018 in Shanghai.
• February 2018: - Hyundai Mobis to apply remote parking assist to hydrogen fuel cell car.
• October 2017 u2013 General Motors plans launch of all-electric and hydrogen fuel cell vehicles.

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