Press release
Hydrogen Powered Transport Global Market Insights: Growth Drivers, Size & Forecasts to 2029
Hydrogen Powered Transport Market
What Is the Forecasted Market Growth Rate of the Hydrogen Powered Transport Industry?
The size of the hydrogen-fueled transportation market has seen massive expansion recently. The estimates project a rise from $13.03 billion in 2024 to an impressive $20.49 billion by 2025, showing a compound annual growth rate (CAGR) of 57.2%. The exceptional growth in the historical period can be tied to environmental concerns, governmental monetary support and incentives, energy security, worldwide regulations, as well as public consciousness and acceptance.
How Will the Hydrogen Powered Transport Market Size Evolve From 2025 to 2029?
Expectations are high for the hydrogen-powered transport market to experience significant expansion in the coming years. The market's value is projected to be $129.27 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 58.5%. The anticipated growth over the forecasting period can be credited to developments in infrastructure, international teamwork, fiscal feasibility, strict emission standards, and initiatives for corporate sustainability. The foreseeable future will likely see a concentration on the production and supply chain of green hydrogen, government schemes and policy backing for hydrogen mobility, collaborations and strategic partnerships within the hydrogen ecosystem, advancements in technologies for hydrogen storage and distribution, and the emergence of hydrogen-powered solutions for two-wheelers and micro-mobility.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/hydrogenpowered-transport-global-market-report
What Are the Main Growth Drivers in the Hydrogen Powered Transport Market Today?
The growth of the hydrogen-powered transport market can be attributed to the increase in government schemes aimed at building hydrogen fuel cell infrastructure. Many governments have implemented various strategies in order to improve environmental circumstances. For instance, the Federation of California has dedicated resources for the creation of 100 hydrogen refueling stations in order to reach their target of 1.5 million zero-emission vehicles by 2025. Additional plans see California collaborating with other states to streamline regulations and construction codes, making it easier to install refueling stations for electric and hydrogen-powered vehicles. This joint venture aims to put 3.3 million ZEVs on the roads in those respective states by 2025. The ultimate objectives are to reduce greenhouse gas emissions, enhance air quality and public health, diversify energy sources, save money for consumers and stimulate economic growth. These factors, in turn, will drive up the revenue for the hydrogen-powered transport market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3884&type=smp
Which Hydrogen Powered Transport Market Segment Is Expected to Lead Through 2029?
The hydrogen powered transport market covered in this report is segmented -
1) By Fuel Cell Technology Type: Proton Exchange Membrane Fuel Cells, Phosphoric Acid Fuel Cells, Other Fuel Cell Technologies
2) By Vehicle Type: Cars, Buses, Trucks, Other Vehicles
3) By End Use: Passenger Vehicle, Commercial Vehicle
Subsegments:
1) By Proton Exchange Membrane Fuel Cells: Automotive Applications, Bus and Commercial Vehicle Applications, Portable Power Applications
2) By Phosphoric Acid Fuel Cells: Stationary Power Generation, Backup Power Systems
3) By Other Fuel Cell Technologies: Solid Oxide Fuel Cells (SOFCs), Alkaline Fuel Cells (AFCs), Molten Carbonate Fuel Cells (MCFCs)
Which Market Trends Are Expected to Dominate Hydrogen Powered Transport Industry Growth?
Leading companies in the hydrogen-powered transport market are innovating with new products like high-performance hydrogen fuel cell electric vehicle platforms to achieve an advantageous position in the market. The term high-performance hydrogen fuel cell electric vehicle platform refers to a sophisticated base that allows the design and production of vehicles that primarily use hydrogen fuel cells for power. For example, WAE Technologies Ltd., a British tech and engineering services company, introduced EVRh in September 2023. This platform features a light composite frame and serves to demonstrate the potential of hydrogen-powered powertrain systems. The central component of the platform is a liquid-cooled FCEV battery pack with a power capacity of 430kW. When coupled with the 120kW hydrogen fuel cell, EVRh can generate 550kW. Thanks to its adaptable design, manufacturers can create both fixed-roof GT type and open-roof Targa vehicles for the road, optimized for maximum power-to-weight.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=3884&type=smp
Which Companies Hold the Largest Market Share in the Hydrogen Powered Transport Sector?
Major companies operating in the hydrogen powered transport market include Volkswagen Group, Toyota Motor Corporation, Bayerische Motoren Werke AG (BMW), Mercedes-Benz Group AG, General Motors Company, Honda Motor Co. Ltd., Hyundai Motor Group, SAIC Motor Corporation Limited, FAW Group Corporation, Kia Corporation, Volvo Group AB, Groupe Renault, Tata Motors Limited, Mazda Motor Corporation, Great Wall Motor Company Limited, Dongfeng Motor Corporation, Beiqi Foton Motor Co. Ltd., Plug Power Inc., Dayun Group, Ballard Power Systems Inc., ZeroAvia Inc., Nikola Corporation, ULEMCo Limited, Hyperion Motors, Hyzon Motors Inc., Tevva Motors Ltd., FeiChi Automobile Co. Ltd., HV Systems, Air Products and Chemicals Inc., BP p.l.c., Bloom Energy Corporation, Linde plc, Reliance Industries Limited, Cummins Inc., First Hydrogen Inc., Adani Green Energy Ltd., FuelCell Energy Inc.
Where Is the Hydrogen Powered Transport Market Experiencing the Highest Growth?
North America was the largest region in the hydrogen powered transport market in 2024. The regions covered in the hydrogen powered transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Powered Transport Global Market Insights: Growth Drivers, Size & Forecasts to 2029 here
News-ID: 4173147 • Views: …
More Releases from The Business Research Company
Global Motorhome Vehicle Market Expansion at 8.2% CAGR, Valued at $52.14 Billion …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
What Are the Motorhome Vehicle Market Size Forecast for 2025?
In recent years, there has been significant growth in the size of the motorhome vehicle market. The market size is projected to increase from $35.63 billion in 2024 to $38.04 billion in 2025, growing at a compound annual growth rate…
Global Wellness Tourism Market Size, Share, and Forecast Analysis 2025-2029
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
What Are the Wellness Tourism Market Size Forecast for 2025?
In recent times, the wellness tourism market has witnessed a robust expansion. It is projected to expand from $895.09 billion in 2024 to $974.59 billion in 2025, registering a compound annual growth rate (CAGR) of 8.9%. This growth during the…
Unlocking Opportunities in the Gastric Cancer Diagnostic Market: 2025-2034 Forec …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Smart Watch Industry Market Size Be by 2025?
The dimensions of the smart watch market have been swiftly expanding in the past few years. The market, currently valued at $91.01 billion in 2024, is projected to escalate to $106.5 billion in 2025, registering a compound annual…
Transformative Trends Impacting the Emergency General Surgery Services Market La …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Smart Watch Industry Market Size Be by 2025?
The dimensions of the smart watch market have been swiftly expanding in the past few years. The market, currently valued at $91.01 billion in 2024, is projected to escalate to $106.5 billion in 2025, registering a compound annual…
More Releases for Power
Thermal power Market is Gaining Momentum with Enel, TATA Power, Reliance Power
The Latest Released Thermal power market study has evaluated the future growth potential of Thermal power market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, and emerging trends along with essential drivers, challenges,…
Japan Power Market Outlook to 2030, Update 2018 – The Kansai Electric Power, C …
Japan Power Market
This report elaborates Japan's power market structure and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the Japanese power market's regulatory structure, import and export trends, competitive landscape, and power projects at various stages of the supply chain is provided. The report also gives a snapshot of the power sector in Japan on broad parameters of macroeconomics, supply security, generation…
Global Power Rental Market Insight Report 2018 - Rental Power Solutions, Power E …
The global "Power Rental" Market research report gives point to point breakdown along with the data of Power Rental market’s analytical study, regional analysis, growth factors and leading companies. The research report about the market provides the data about the aspects which drive the expansion of Power Rental industry. The Power Rental market consists of large key companies who play a vital role in the production, manufacturing, sales and distribution…
Japan: Geothermal Power Market Power Plants, Regulations and Company Profiles 20 …
"Geothermal Power in Japan, Market Outlook to 2030, Update 2018-Capacity, Generation, Power Plants, Regulations and Company Profiles", is the latest report from Publisher, the industry analysis specialists that offer comprehensive information and understanding of the Geothermal market in Japan.
The report provides an in-depth analysis on global renewable power market and global Geothermal market with forecasts up to 2030. The report analyzes the power market scenario in Japan (includes conventional Hydro,…
Fluid Power Systems Market SWOT Analysis by Key Players: Parker, Eaton, Tokyo Ke …
QY Research has lately published a new report on “Global Fluid Power Systems Market: Industrial Chain Market Insights, Growth Trends and Competitive Analysis 2025,” for the forecasted period 8-years, i.e. between 2017 and 2025.
The Fluid Power Systems market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been considered…
New research on Medical Power Supply Market To 2022 Profiling SL Power Electroni …
This Global Medical Power Supply market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this…
