Hydrogen fuel cell vehicle is a type of vehicle that uses a hydrogen fuel cell to power its on-board electric motor. This vehicle does not release any greenhouse gas (GHG) emissions during vehicle operation unlike diesel-powered and gasoline vehicles. Further, extensive support from the government to propel hydrogen fuel cell infrastructure fuels the market growth.
The hydrogen fuel cell vehicle market is expected to witness significant growth during the forecast period, owing to the development of infrastructure to produce hydrogen. Further, domestic presence of hydrogen fuel cell vehicle (HFCV) OEMs globally and developments in aggressive hydrogen refueling stations (HRS) fuel the market growth. However, initial large investment in infrastructure is expected to restrain the market growth. Moreover, increase in launch of government initiatives to propel hydrogen fuel cell infrastructure provides a major growth opportunity.
The report segments the hydrogen fuel cell vehicle market on the basis of vehicle type, fuel cell technology type, and region. Based on vehicle type, it is bifurcated into passenger vehicle and commercial vehicle. According to fuel cell technology type, the market is classified into proton exchange membrane fuel cells, phosphoric acid fuel cells, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market include Honda, Toyota, Hyundai, Daimler, Audi, BMW, Volvo, Ballard Power Systems, General Motors, and MAN.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the hydrogen fuel cell vehicle market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Proton Membrane Exchange
- Phosphoric Acid Fuel Cell
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East
Key Market Players PROFILED
- Ballard Power Systems
- General Motors