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Why the Fuel Cell Electric Vehicle Market Is Set To Explode? | Global Players are Daimler Chrysler, Ford Motor Company, General Motors, American Honda Motor Company, Inc., Mercedes-Benz USA, Nissan Motor Corporation, Audi AG, Tata Motors, Volkswagen of Am

04-13-2020 08:45 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Research

Fuel Cell Electric Vehicle Market

Fuel Cell Electric Vehicle Market

In the recent times, it has been observed that the leading fuel cell electric vehicle market players are being benefitted immensely from the noteworthy increase in consumer preference for fuel cell-powered vehicles over battery-powered ones. Apparently, the major advantage of fuel cell-powered vehicles is that they can be charged in lesser time duration than the vehicles running on batteries. Furthermore, fuel cell electric vehicles are known to cover longer distance after a single charge, possess greater off-road mobility, better torque, and enhanced field configuration than the battery-powered vehicles. This goes on to explain the increased focus of a number of fuel cell electric vehicle industry giants on manufacturing fuel cell-powered long-distance trucks and SUVs. As a consequence, long distance traveling automobiles are set to apportion a major revenue share of the overall fuel cell electric vehicle market by 2025.

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Speaking along similar lines, Toyota Motor North America, Inc, has recently released its concept truck heavy-duty truck equipped with advanced hydrogen fuel cell system that is expected to broaden the application of zero-emission fuel cell technology. Moreover, the fully functional truck, named as Project Portal, has an exceptional torque capability to seamlessly carry out port drayage operations and transport goods over short and long distances. Needless to mention, the launch of such innovative vehicles would provide a vigorous boost to the global fuel cell electric vehicle market size expansion over the estimated time frame.

As per some reliable sources, the deployment of fuel cell charging stations is particularly brisk across Europe as the continent consists of nations known to be strong proponents of the hydrogen economy. For instance, Denmark recently made it to the headlines as the first country to deploy a nationwide fuel cell charging infrastructure. Furthermore, Germany has emerged as the frontrunner in fortifying its presence in the Europe fuel cell electric vehicles industry given that the western European nation is projected to build around 400 fueling stations over the course of next few years.

Table of Contents (ToC) of the report:
Chapter 4 Fuel cell electric vehicle Market, By Vehicle
4.1 Global fuel cell electric vehicle market share by vehicle, 2018 & 2025
4.2 Heavy duty vehicle
4.2.1 Market estimates and forecast, 2013 - 2025, (Units) (USD Million)
4.2.2 Market estimates and forecast, by region, 2013 - 2025, (Units) (USD Million)
4.3 Agriculture
4.3.1 Market estimates and forecast, 2013 - 2025, (Units) (USD Million)
4.3.2 Market estimates and forecast, by region, 2013 - 2025, (Units) (USD Million)
4.4 Buses
4.4.1 Market estimates and forecast, 2013 - 2025, (Units) (USD Million)
4.4.2 Market estimates and forecast, by region, 2013 - 2025, (Units) (USD Million)
4.5 Port Vehicles/Container Handling or Transport
4.5.1 Market estimates and forecast, 2013 - 2025, (Units) (USD Million)
4.5.2 Market estimates and forecast, by region, 2013 - 2025, (Units) (USD Million)
4.6 Automotive
4.6.1 Market estimates and forecast, 2013 - 2025, (Units) (USD Million)
4.6.2 Market estimates and forecast, by region, 2013 - 2025, (Units) (USD Million)
4.7 Class 8/Long Haul
4.7.1 Market estimates and forecast, 2013 - 2025, (Units) (USD Million)
4.7.2 Market estimates and forecast, by region, 2013 - 2025, (Units) (USD Million)
4.8 Others
4.8.1 Market estimates and forecast, 2013 - 2025, (Units) (USD Million)
4.8.2 Market estimates and forecast, by region, 2013 - 2025, (Units) (USD Million)

It thus goes without saying that the efforts that are being made to strengthen the charging stations would impel the overall fuel cell electric vehicle market share augmentation in the immediate future.

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Elaborating further, many acclaimed automakers including General Motors, Toyota, Volkswagen, etc., have declared aggressive investment plans to manufacture more zero-emission automobiles which would propel the fuel cell electric vehicles market share in the ensuing years. For instance, touted as one of the most preeminent fuel cell electric vehicle market players, Ford Motor Company has recently made it public that it would accentuate its investment to manufacture fuel cell-powered cars by over two times. The latest announcement would reportedly take the total investment figure to an astounding USD 11 billion over the next few years.

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