openPR Logo
Press release

Hydrogen Fuel Cell Vehicle Market is predicted to reach USD 553.11 billion by 2030 with a CAGR of 72.1%

10-12-2021 05:54 AM CET | Logistics & Transport

Press release from: Next Move Strategy Consulting

Hydrogen Fuel Cell Vehicle Market is predicted to reach USD

At an estimated value of over USD 9.98 billion in 2020, the Global Hydrogen Fuel Cell Vehicle Market is predicted to thrive at a CAGR of 49.8% during the forecast period 2021-2030 and valued at over USD 850.67 billion by 2030.

These vehicles use hydrogen fuel cells to power an on-board electric motor. Vehicles using hydrogen fuel cells do not emit any greenhouse gasses as opposed to diesel or gasoline vehicles. Due to this eco-friendly characteristic, hydrogen fuel cell vehicles are expected to have massive potential throughout the forecast period.

Access Full Description of this report at:-

https://www.nextmsc.com/report/hydrogen-fuel-cell-vehicle-market

Top Companies: Honda, Toyota, Hyundai, Dailmer, Audi, Ballard Power System, MAN, Volvo, BMW and General Motors

Market Dynamics and Trends

There has been tremendous growth in the automotive industry owing to increased demand of vehicles. However, in recent times, there has been increasing awareness and concerns with regards to the adverse environmental impact cause by engines running on fossil fuel, as they emit significant amount of of greenhouse gases. This in turn is expected to support the growth of hydrogen fuel cell vehicle market over the forecast period. Other factors such as technological advancements, improved performance, reduced noise, rising petroleum prices and stringent government regulation about environmental conservation are further expected to augment the growth of hydrogen fuel cell vehicle market. However, high cost of these vehicles is expected to hamper the market growth to some extent. On the other hand, innovations, and aggressive research and developments are expected to create ample opportunities for the market players in the coming years.

Request sample copy of this report at:-

https://www.nextmsc.com/hydrogen-fuel-cell-vehicle-market/request-sample

Market Segmentations and Scope of the Study:

The hydrogen fuel cell vehicle market is segmented on the basis of vehicle type, technology and geography. On the basis of type, the market is segmented into passenger vehicle and commercial vehicle. On the basis of technology, the market is segmented into proton membrane exchange, phosphoric acid fuel cell and others. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.

Geographical Analysis

North America holds the lion market share of hydrogen fuel cell vehicle market. This is attributed to factors such as higher purchasing power, better transportation infrastructure, access to hydrogen fueling stations, and technological advancements. Also, governments in the U.S. and Canada are encouraging its citizens to adopt vehicles that runs on alternate energy. For example, the state of California in the U.S. has been investing heavily for the development of 100 hydrogen refueling stations to meet its target of 1.5 million zero-emission vehicles by 2025. This is also contributing towards the growth of the hydrogen fuel cell vehicle market in this region.

However, Asia Pacific is predicted to show rapid and consistent growth in market share within the forecast period owing to the heavy investments by the major players and government’s in this region. For instance, South Korean automotive manufacturer Hyundai Motor and SK Holding have recently committed to make multibillion-dollar investments, which will play a pivotal role in bridging the gap between hydrogen dreams and reality. Similarly, China had raised hydrogen’s profile in its 14th five year plan (2021-2025), and shows signs of picking national champions like Beijing Sinohytec. Also, surge in disposable income of the expanding population in this region is further expected to propel growth of the hydrogen fuel cell vehicle market.

Postal Address:
2/90/A, Azadgarh, Regent Park, Kolkata, West Bengal, India, 700040
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Hydrogen Fuel Cell Vehicle Market is predicted to reach USD 553.11 billion by 2030 with a CAGR of 72.1% here

News-ID: 2425119 • Views:

More Releases from Next Move Strategy Consulting

Acne Medication Market Set for Exponential Growth with a Projected 3.2% CAGR by 2030
Acne Medication Market Set for Exponential Growth with a Projected 3.2% CAGR by …
Introduction: According to the Next Move Strategy Consulting, the Global Acne Medication Market size is anticipated to reflect a Compound Annual Growth Rate (CAGR) of 3.2% from 2024 to 2030. The acne medication market is experiencing a transformative surge, driven by the increasing demand for effective solutions to address skincare concerns globally. As individuals prioritize skincare and beauty, the acne medication market emerges as a key player in providing innovative, targeted
Unleashing the Potential of the Hemodialysis Market for Unprecedented Growth with a CAGR of 3.60% by 2030
Unleashing the Potential of the Hemodialysis Market for Unprecedented Growth wit …
According to the Next Move Strategy Consulting, the Global Hemodialysis Market size is anticipated to reflect a Compound Annual Growth Rate (CAGR) of 3.60% from 2024 to 2030. In recent years, the global healthcare landscape has witnessed a significant surge in demand for advanced renal care solutions, with the hemodialysis market emerging as a pivotal player in addressing the evolving needs of patients grappling with kidney-related issues. Projections indicate that
Managed Mobility Services Market Accelerates Towards USD 133.90 Billion Valuation by 2030, Propelled by a Remarkable CAGR of 31.1%
Managed Mobility Services Market Accelerates Towards USD 133.90 Billion Valuatio …
In a groundbreaking revelation, industry experts at Next Move Strategy Consulting unveil a compelling trajectory for the managed mobility services market, foreseeing an exceptional valuation of USD 133.90 billion by 2030. This robust ascent is underpinned by an extraordinary CAGR of 31.1%, signifying the pivotal role managed mobility services play in reshaping the digital landscape and empowering businesses with unparalleled mobility solutions. Introduction: Positioned as a linchpin in the broader landscape of
The Infant Phototherapy Device Market Set for Remarkable Growth with a Projected CAGR of 4.0% by 2030
The Infant Phototherapy Device Market Set for Remarkable Growth with a Projected …
Introduction: According to the Next Move Strategy Consulting, the Global Infant Phototherapy Device Market size is anticipated to reflect a Compound Annual Growth Rate (CAGR) of 4.0% from 2024 to 2030. The global infant phototherapy device market is poised for unprecedented growth, driven by the increasing demand for advanced neonatal care solutions and a growing focus on improving infant health outcomes. This comprehensive analysis delves into the key drivers, market segmentation,

All 5 Releases


More Releases for USD

Chlorella Market Reach USD 465.85 Million USD by 2030
Market Growth Fueled by Increased Adoption of Plant-Based Proteins and Health Supplements Global Chlorella Market size was valued at USD 303.75 Mn. in 2023 and the total Chlorella revenue is expected to grow by 6.3 % from 2024 to 2030, reaching nearly USD 465.85 Mn. . The growth of the market is majorly due to increase in the consumer awareness about health, the inclination towards plant-based food such as chlorella and
Bamboo Clothing Market: USD 1.83B to USD 3.27B by 2030
Bamboo Clothing Market Poised for Robust Growth with Sustainability and Eco-Friendly Trends Driving Demand The global bamboo clothing market is experiencing substantial growth, spurred by a significant shift towards sustainable fashion and eco-friendly materials. As consumers become increasingly conscious of their environmental impact, bamboo fabric-known for its natural, biodegradable properties-is gaining popularity in the fashion industry. This market is expected to continue its upward trajectory, driven by rising demand for eco-conscious
Biometrics Market: "Biometrics: USD 34.3B to USD 112.4B by 2031"
Biometrics Market Market Scope: Key Insights : Biometrics Market size was valued at USD 34.3 billion in 2022 and is poised to grow from USD 39.1 billion in 2023 to USD 112.4 billion by 2031, growing at a CAGR of 14.1% during the forecast period (2024-2031). Discover Your Competitive Edge with a Free Sample Report :https://www.skyquestt.com/sample-request/biometrics-market Access the full 2024 Market report for a comprehensive understanding @https://www.skyquestt.com/report/biometrics-market In-Depth Exploration of the global Biometrics
Advanced (3D/4D) Visualization Systems Market Size, Trends, Growth, Share to sur …
Fatpos Global has carefully studied specific areas, such as application and product type, in the global Advanced (3D/4D) Visualization Systems Market research study. During the predicted period of 2022 to 2032, each kind gives data on sales. The Advanced (3D/4D) Visualization Systems Market analysis examines into the characteristics and financials of the leading participants. As per the analysis research report, the Advanced (3D/4D) Visualization Systems Market to
$100,000,000 USD job contract for travel - $3,000,000 USD referral commission.
Khoja Consultants invites companies, teams or venture capitalists for a $100,000,000 USD contract for travel. The selected company will be providing all accommodations and expenses for a 6-month long business trip around the world. Khoja Consultants expects five-star treatment including close security with private planes, hotels, secured vehicles and helicopters if necessary. More details on the job contract and application are provided at - www.KhojaConsultants.com. There is a $3,000,000
IOT Solutions Market worth USD 553.9 million USD by 2026
"The global IoT solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cybersecurity as a service market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa." These days many businesses are adopting a market research report