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Fuel Cell Electric Vehicles Market Worth $50250 Million by 2027

07-27-2021 01:27 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Valuates Reports

Fuel Cell Electric Vehicles Market Worth $50250 Million by 2027

The Fuel Cell Electric Vehicles market was valued at US$ 1344 million in 2020 and is projected to reach US$ 50250 million by 2027, at a CAGR of 76.7% during 2021-2027. In this study, 2020 has been considered as the base year and 2021 to 2027 as the forecast period to estimate the market size for Fuel Cell Electric Vehicles.

In terms of the production side, this report researches the Fuel Cell Electric Vehicles capacity, production, growth rate, market share by manufacturers and regions (or countries), from 2016 to 2020, and forecast to 2027.

In terms of the sales side, this report focuses on the sales of Fuel Cell Electric Vehicles by regions (countries), company, by Type and by Application. from 2016 to 2020 and forecast to 2027.

Inquire for Sample Report: https://reports.valuates.com/request/sample/QYRE-Auto-14156/Global_Fuel_Cell_Electric_Vehicles_Market

Fuel Cell Electric Vehicles or Fuel Cell Vehicles is a type of vehicle that uses a fuel cell to power its on-board electric motor. Fuel cells in vehicles create electricity to power an electric motor, generally using oxygen from the air and compressed hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no harmful tailpipe exhaust—they emit water vapor and warm air.

Due to the limitation of technology and raw material cost, development of fuel cell electric vehicle was slow in the first decade in 21 Century. Recently, many automotive manufacturers start to joint together to develop the technology of fuel cell electric vehicle. So far, there are three big global car companies which can offer mass production fuel cell electric vehicle. They are Hyundai, Toyota and Honda. In 2015, the global production of fuel cell vehicle was only 1010 units In future, as the technology develops, more and more manufacturers will realize the mass production. We predict that the global production of fuel cell vehicle will reach about 384000 units in 2021. In China there are only 10 be product by SAIC in 2015. There are some of player liked Yutong, Foton in China planned to development their product. Currently, there are only Korea and Japan can mass production of fuel cell electric vehicles. In 2014, the manufacture Hyundai in Korea first mass production the fuel cell electric vehicles. Environment protecting policies all over the world will be stricter in the vehicle emissions in future. These policies will offer a promotion to the popularization of fuel cell electric vehicle, especially the developed countries. In 2021 the consumption in the USA and Europe will occupy more than 50% of the world consumption. To grab more market, companies have to expand their technology, capital investment. As the technology is grasped in a few companies, it is hard for the small and medium size companies to enter the market. It can be concluded that fuel cell electric vehicle market will be a high-concentrated in a period of time.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-14156/global-fuel-cell-electric-vehicles

This industry study presents the global Fuel Cell Electric Vehicles market size, historical breakdown data (2014-2019) and forecast (2019-2025). The Fuel Cell Electric Vehicles production, revenue and market share by manufacturers, key regions and type;

The consumption of Fuel Cell Electric Vehicles in volume terms are also provided for major countries (or regions), and for each application and product at the global level. Market share, growth rate, and competitive factors are also evaluated for market leaders Honda, Hyundai, etc.

The following manufacturers are covered in this report:

Honda
Hyundai
Toyota Mirai
SAIC
Yutong
Foton

Fuel Cell Electric Vehicles Breakdown Data by Type

Passenger Vehicles
Commercial Vehicles

Fuel Cell Electric Vehicles Breakdown Data by Application.

For Public lease
For Sales

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