Hydrogen Fuel Cell Vehicle Market is expected to Witness the Highest Growth by 2025 Major Players- Daimler, Honda, Hyundai, Toyota, Audi, Ballard Power Systems, BMW, Fuel Cell Energy, GM, Hydogenics, Volvo
Global Hydrogen Fuel Cell Vehicle Market valued approximately USD 465.0 million in 2017 is anticipated to grow with a healthy growth rate of more than 70.13% over the forecast period 2018-2025. The Hydrogen Fuel Cell Vehicle Market is continuously growing in the global scenario at significant pace. Hydrogen fuel cell vehicles (HFCVs) are a class of electric vehicles that power the drive train of the vehicles through the energy generated from fuel cells. The fuel cell converts chemical energy generated from the positively charged hydrogen ions into electricity.
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The fuel cell technology has been adopted from the aerospace industry where it was first used to power space shuttles and satellites. Growing environmental concerns and development of infrastructure to produce hydrogen are the substantial driving factors of the market during the forecast period. Additionally, growth in adoption of automobiles in developing regions is another factor that boosting the demand of hydrogen fuel cell vehicle across the globe. Moreover, rising developments in aggressive hydrogen refueling stations (HRS) is the major factors that likely to create numerous opportunity in the near future. Moreover, hydrogen fuel cell have higher efficiency than the diesel or gas engines and can eliminate pollution by which demand of hydrogen fuel cell vehicle is increasing among its end-users across the globe. However, initial capital investment, reduced HRS and high cost of the vehicles are the factors that limiting the market growth of hydrogen fuel cell vehicles during the forecast period.
The regional analysis of Global Hydrogen Fuel Cell Vehicle Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to rising development of hydrogen fueling infrastructure in the region. Europe is estimated to grow at reasonable growth rate in the global Hydrogen Fuel Cell Vehicle market over the upcoming years. Further, Asia-Pacific anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to strong support of fuel cell technology in economies such as Japan and South Korea across the region.
The following manufacturers are covered in this report, with sales, revenue, market share for each company:
o Ballard Power Systems
o Fuel Cell Energy
Market size by Product
o Proton Exchange Membrane Fuel Cell
o Phosphoric Acid Fuel Cells
Market size by End User
o Commercial Vehicle
o Passenger Cars
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The study objectives of this report are:
o To study and analyze the global Hydrogen Fuel Cell Vehicle market size (value & volume) by company, key regions, products and end user, breakdown data from 2014 to 2018, and forecast to 2025.
o To understand the structure of Hydrogen Fuel Cell Vehicle market by identifying its various subsegments.
o To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
o Focuses on the key global Hydrogen Fuel Cell Vehicle companies, to define, describe and analyze the sales volume, value, market share, market competition landscape and recent development.
o To project the value and sales volume of Hydrogen Fuel Cell Vehicle submarkets, with respect to key regions.
o To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
In this study, the years considered to estimate the market size of Hydrogen Fuel Cell Vehicle are as follows:
Historical year - 2015, 2016
Base year - 2017
Forecast period - 2018 to 2025
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