Research on Hydrogen Vehicle Market (impact of COVID-19) with Top Players Toyota Motor Corporation, Hyundai Motor Company, Honda Motor Co. Ltd., Daimler AG., Audi, BMW, General Motors

Notice: This Content doesn't contains all the Information of the Report please fill the form (via link) and get all interesting information just one click in PDF with latest update with chart and Table of Content

Lack of conventional fuel sources along with concerns regarding growing carbon footprint is fuelling the growth of the global hydrogen vehicle market

Factors driving the growth of the global market include increasing CO2 emissions in conjunction with stringent regulations being formulated to control the emission of such harmful gases. Hydrogen vehicles are responsible for controlling the CO2 emission, as hydrogen combines with oxygen in the fuel cell to produce water, which is a clean by-product. Hydrogen vehicles are eco-friendly, thus the demand for these vehicles is increasing, in turn, boosting the growth of the hydrogen vehicles market.

Get PDF Brochure with Some Benefits :
https://www.coherentmarketinsights.com/insight/request-pdf/1722

1- country level analysis for any 5 countries of your choice.
2- Competitive analysis of any market players.
3- 40 analyst hours to cover any other data points

Furthermore, stringent government regulations towards controlling the carbon emissions from vehicles are another factor expected to increase the demand for hydrogen vehicles during the forecasted period. Regulations such as Low Emission Vehicle (LEV) III, Tier 3, and Super Ultra Low Emissions Vehicle (SULEV) regulations are being implemented in order to ensure the least carbon emissions. The adoption of hydrogen vehicles is increasing, as these vehicles offer enhanced power and fuel-efficiency. Thus, fuelling the growth of the global hydrogen vehicle market.

Reduction in prices of the hydrogen cell is expected to drive market growth in the near future

Reducing fuel cell prices is a key driving factor of the global hydrogen vehicles market. In the present market scenario, fuel cell manufacturing companies are investing in new technologies to help reduce the overall cost of hydrogen fuel cells. For instance, in September 2017, Nisshinbo Holdings Inc., introduced the carbon alloy catalyst for the replacement of platinum catalysts, as the cost of platinum is higher than carbon alloys. This, in turn, helps reduce the overall price of the hydrogen fuel cell. For instance, According to the U.S. Department of Energy, a single fuel-cell vehicle requires US$ 3,650 for catalyst materials, which accounts for 40-45% of the cost of the cell's internal components. Platinum is sold for US$ 36.35 (4,000 yen) per gram. Therefore, manufacturers are developing new catalysts for hydrogen vehicles which in turn, is fuelling the growth of the global hydrogen vehicle market.

The high initial investment for developing infrastructure is one of the key challenges for the growth of the global hydrogen vehicle market

The cost required for developing the infrastructure for manufacturing hydrogen vehicles is significantly high. The initial investment by manufactures is thus high, which in turn, poses as a major factoring hampering the growth of the global hydrogen vehicles market.

Global Hydrogen Vehicle Market: Key Developments

In January 2018, Hyundai Motor Company, South Korean multinational automotive manufacturer, announced the launch of its hydrogen-powered SUV "Hyundai Nexo" which will deliver 800-km drive range at Consumer Electronics Show (CES) 2019 in Las Vegas, Nevada.

In April 2019, Hydrogen Denmark, Danish industry association, announced a launch of eight new fuel cell electric vehicle (FCEV) taxis, "Toyota Mirai taxis" which will transport passengers sustainably around the Copenhagen area.

Request For Sample Copy:
https://www.coherentmarketinsights.com/insight/request-sample/1722

**including TOC, figures and Chart+30 minutes of consultation

In April 2019, Robert Bosch GmbH, German-based multinational engineering, and Technology Company and Powercell Sweden AB, a subsidiary of carmaker Volvo, has signed an agreement to jointly mass-produce hydrogen fuel cells for the automotive segment. According to this agreement, these companies will make polymer-electrolyte membrane (PEM) fuel cells under the agreement for mass production.

Contact Us:

Name: Mr. Raj Shah
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com
Visit Our Blogs: https://blog.coherentmarketinsights.com

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.