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Fuel Cell Electric Vehicle Market 2022 Driving Factors Forecast Research 2028

01-04-2023 09:11 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: +91 780-304-0404

Fuel Cell Electric Vehicle Market

Fuel Cell Electric Vehicle Market

The global fuel cell electric vehicle market is anticipated to grow at a substantial CAGR of 2.9% during the forecast period (2021-2027). One of the major factors of contributing to the growth of the market is the rising demand for zero-emission vehicles. The fuel cell electric vehicles have hydrogen as the mode of power to run the vehicle. It uses the fuel cell to convert electrochemical energy of stored hydrogen to electric energy which runs the electric motor with no emission except the water and heat radiations. As a result of which, this technology is adopted in different vehicles which range from passenger cars to trains. Growing awareness of a cleaner environment and noiseless transportation has increased the demand for fuel cell electric vehicles. Additionally, fuel cell electric vehicles provide benefits such as improved driving range, lower refuelling time, and emission-less transportation. Moreover, governmental campaigns such as tax credits and favourable incentives are encouraging emission-less vehicles which have further ignited the growth of the fuel cell electric vehicles market. For instance, in July 2021, the European Union proposed an effective ban on the sale of new petrol and diesel cars including a 100% cut in CO2 emissions by 2035.

Get Free Sample link @ https://www.omrglobal.com/request-sample/fuel-cell-electric-vehicle-market

The COVID-19 pandemic had adversely impacted most of the industries in the market. The pandemic led the governments to impose the lockdown which restricted the production activities including the fuel cell electric vehicles. Original Equipment Manufacturers (OEMs) and fuel cell system manufacturers, also had to face similar consequences. It caused market players a huge loss. For instance, as per the financial report of Honda group, in June 2020, sales revenue from external customers decreased by 55.1% as compared to the sales revenue from external customers from the same period of 2019. However, as the situation got normal, the Honda group witnessed significant growth. According to the financial report of Honda group on June 2021, sales revenue from external customers increased by 82.4% as compared to the sales revenue from external customers from the same period of 2020.

full report of Fuel Cell Electric Vehicle Market available @ https://www.omrglobal.com/industry-reports/fuel-cell-electric-vehicle-market

• Market Coverage
• Market number available for - 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Fuel Cell Electric Vehicle Market by Vehicle Type
o Passenger Cars
o Light Commercial Vehicles
o Buses
o Trucks
o Trains

Global Fuel Cell Electric Vehicle Market by Fuel Cell Type
o Polymer Electrolyte Membrane Fuel Cell (PEMFC)
o Phosphoric Acid Fuel Cell (PAFC)
o Direct Methanol Fuel Cell (DMFC)
o Solid Oxide Fuel Cell (SOFC)
o Others (Alkaline Fuel Cell, Molten Carbonate Fuel Cell, and Reversible Fuel Cell)

Global Fuel Cell Electric Vehicle Market by Range
o Short
o Long

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o TheVolvo Group
o AUDI AG
o Beijing Automobile Group Co., Ltd.
o Beijing SinoHytec Co., Ltd.
o China FAW Group Co.,Ltd.
o Dongfeng Motor Group Co., Ltd.
o GAC MOTOR
o Hyundai Motor Co.
o INEOS Automotive Ltd.
o Jaguar Land Rover
o MAN
o Mazda Motor Corp.
o Mitsubishi Fuso Truck and Bus Corp.
o Nikola Corp.
o Nissan Corp.
o SAIC Motor Corp. Ltd.

The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global fuel cell electric vehicle market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/fuel-cell-electric-vehicle-market

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

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