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Hydrogen Vehicles Market Latest Technology, Growth, Overview & Forecast 2025: Honda, Toyota, Hyundai, Daimler, Audi, BMW, Volvo, Ballard Power Systems, General Motors, MAN

06-07-2019 05:56 PM CET | Energy & Environment

Press release from: Worldwide Market Reports

Hydrogen Vehicles

Hydrogen Vehicles

Hydrogen vehicles are those that power an electric motor using hydrogen gas. These vehicles combine hydrogen and oxygen to produce electricity. Hydrogen vehicles do not run short of mobility as conventional vehicles that run on gasoline or diesel do. As electricity is generated by the oxygen and hydrogen in the engine, the vehicle keeps running. These vehicles are entirely powered by electricity, thus these fuel cell vehicles are electric vehicles (EVs). However, the range and refueling processes of hydrogen vehicles is more like conventional cars and trucks, unlike other EVs.

The byproduct of hydrogen gas into electricity produces is water and heat, thus these vehicles so not emit harmful gases when driven. The demand for hydrogen vehicles is thus increasing, in turn, driving growth of the hydrogen vehicles market.

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Honda, Toyota, Hyundai, Daimler, Audi, BMW, Volvo, Ballard Power Systems, General Motors, and MAN some of the key players operating in the global Hydrogen Vehicles market.

Although, production of hydrogen itself leads to pollution, including greenhouse gas emissions, fuel cell cars and trucks today have the ability to cut emissions by over 30 percent as compared to their gasoline-powered counterparts. This makes hydrogen vehicles more environmentally friendly than gasoline and diesel vehicles. Increasing inclination of consumers towards adopting eco-friendly alternatives, in turn, is expected to fuel growth of the hydrogen vehicles market in the near future.

Increasing number of countries are adopting measures for future renewable fuel standards. For instance, requirements currently in place in California has the potential to make hydrogen fuel even cleaner. Fuel cell vehicles entering the U.S. market, and interested drivers are required to live near hydrogen refueling stations.

In 1960, Allis-Chalmers, a machinery company, built the first fuel cell for forklifts. Hydrogen being the most abundant elements in the universe, is easy to produce. Ever since, several automobile companies are involved in research and development for creating innovative vehicles that run on hydrogen.

In 2018, Toyota launched its new hydrogen vehicle called the Mirai Fuel Cell Vehicle. This is one of the first such vehicles to be sold commercially. The company claims that its Mirai features a fuel cell system, which has an output power density of 3.0 kW/L. the density is twice as high as that of its previous fuel cell concept. It delivers an output power of over 100 kW, despite significant unit downsizing.

This report features mainly top to bottom approach to target key aspects of Global Hydrogen Vehicles Market Outlook market that includes, Gross Revenue, CAGR, Key Players, Cost Structure, Production Capacity, Sales Analysis and Future Growth Trends projected on the basis of historical Global Hydrogen Vehicles Market Outlook research.
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About WMR

Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provide our diverse range of clients from across all industries with vital decision making insights to plan and align their market strategies in line with current market trends.

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