Press release
Hydrogen Fuel cell Vehicle Market top Key Players - Toyota Motors, Hyundai Motor Company, Nikola Motors, Ballard Power Systems, SAIC Motors, Honda Motors, Daimler AG
It was quickly followed by Toyota, the global leader in hybrid vehicles when it showcased the prototype of Mirai in 2014 and retail sales began in US in Q3-2015 with prices starting at $57k.
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GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET DYNAMICS
Hydrogen vehicle fuel cells so far have been based on an expensive platinum catalyst, which is among the major challenges holding back the technology from faster commercialization.To counter cost issues, researchers from the University of Copenhagen have developed a new catalyst that requires a fraction of the amount of Platinum.
FUEL CELL VEHICLE MARKET DEVELOPMENT IN CHINA
China`s biggest state-owned car manufacturer with ~22% market share in local market, SAIC Motor aims to bring at least ten FCEV models by 2025 and hit over 10,000 units in annual production and sales.
POTENTIAL IN HEAVY TRUCK SEGMENT
In Sep 2020, Hyundai exported XCIENT Fuel cell trucks to various European countries, the truck is powered by a 190-kW hydrogen fuel cell system with dual 95-kW fuel cell stacks. The driving range per tank for XICENT is about 400 km. Seven hydrogen tanks offer storage capacity of about 4.5kg each. Refuelling time for each truck is estimated at 10-20 minutes- at par with Diesel trucks.
NEW PRODUCT LAUNCH IN HYDROGEN FUEL CELL VEHICLE MARKET
Sep 2020– Hydrogen generation technology company Element 1 announced plans for its methanol-based M-Series hydrogen generator to be incorporated onto a medium-duty fuel cell truck
Sep 2020– Daimler Trucks showcased Mercedes-Benz Actros, the GenH2 Truck with a range of up to 1,000-kilometers range. Daimler is expected to commence customer trials in 2023, and series production post 2025.
COMPETITIVE LANDSCAPE
We believe, the hydrogen fuel cell technology is better suited for medium and heavy-duty commercial vehicles unless there is a breakthrough in the solid-state battery technology. The quick refuelling time and minimal impact on payload capacity in a fuel cell truck is one of the biggest reasons behind that.
The hydrogen fuel cell vehicle market was earlier driven by Asian manufacturers i.e. Toyota, Hyundai and Honda. Now, there has been a growing interest among European manufacturers as well.
COMPANY PROFILE
Toyota Motors
Hyundai Motor Company
Nikola Motors
Ballard Power Systems
SAIC Motors
Honda Motors
Daimler AG
Volvo AB
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We are among the very few market research firms globally, specialized in mobility domain(s). Our zone of research entails automotive, aerospace, marine, locomotive, logistics and construction & agricultural equipment.We deal in syndicated research, custom research and consumer research for all the above domains mentioned.
We envision the future of mobility every single day, following mobility domains is not just our profession rather it’s our passion. We are here, just to serve you in the most ideal way and your fulfillment is above everything else.
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