Hydrogen Fuel Cell Vehicles Market Outlook 2021, Business Strategies, Challenges and COVID-19 Impact Analysis 2027 – The Daily Vale

Hydrogen Fuel Cell Vehicle Market: By Vehicle Type (Passenger Vehicle and Commercial Vehicle), By Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, Alkaline Fuel Cell, and Hydrogen Fuel Cell Solid Oxide), By Power Output (Less Than 150kW, 150-250kW, And Over 250kW), And By Region – Global Industry Sizing, Growth, Trend, Opportunity and Forecast (2020-2025)

The Hydrogen Fuel Cell Vehicles Market report covers an in-depth analysis of market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by key market players operating in the world market. It involves in-depth analysis of factors influencing the global market and market statistics indicating market share/growth analysis by region and segment. The report study will present one of the most comprehensive analyzes in the market, capturing all aspects of the Hydrogen Fuel Cell Vehicles industry. Further, the report identifies and highlights the impact of COVID-19 on the Hydrogen Fuel Cell Vehicle Market.

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Hydrogen Fuel Cell Vehicle: Market Introduction

A hydrogen fuel cell vehicle is a new vehicle that uses a hydrogen fuel cell as fuel. The hydrogen fuel cell vehicle converts chemical energy into mechanical energy to drive vehicles. Hydrogen fuel cell vehicles use renewable energy sources that would not produce greenhouse gas emissions or ozone layer precursors. Hydrogen fuel cell vehicles are in the early stages of introduction and are expected to gain traction in the near future. In hydrogen fuel cell vehicles, hydrogen fuel cells are recharged by compressed hydrogen tube vehicles, liquid hydrogen tanker vans, and industrial hydrogen pipeline transportation. Hydrogen fuel cell vehicles have no engine noise and have powerful pick up and start. In addition, these hydrogen fuel cell vehicles are fueled very quickly and do not deteriorate in cold weather.

Hydrogen Fuel Cell Vehicle: Market Dynamics

Rising concern over environmental pollution and depletion of natural resources is one of the vital factors for the growth of the hydrogen fuel cell vehicle market. Furthermore, the government’s initiative to develop new energy vehicles is contributing to the growth of the hydrogen fuel cell vehicle market.

Growing demand for fuel-efficient, high-performance, low-emission vehicles continues to rise in the global market, which is expected to accelerate the growth of the hydrogen fuel cell vehicle market. Additionally, stringent emission regulations and government subsidies on new energy vehicles are key factors to grow the hydrogen fuel cell vehicle market. The exponential growth in the number of manufacturers, suppliers, and dealers is expected to generate new opportunities in the hydrogen fuel cell vehicle market.

Challenges faced by the use of hydrogen in automobiles include maintaining hydrogen on board, high cost of capital and insufficient facilities. Hydrogen in fuel cells is extremely flammable and hydrogen leaks are difficult to detect. These factors are expected to restrain the growth of the hydrogen fuel cell market.

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Report scope

The report outlines the hydrogen fuel cell vehicle market study based on vehicle type, technology, and power output.

On the basis of vehicle type, the hydrogen fuel cell vehicle market is segmented into

  • Tourism vehicle
  • commercial vehicle

Based on technology, the hydrogen fuel cell vehicle market is segmented into

  • Proton exchange membrane fuel cell
  • Phosphoric acid fuel cell
  • Alkaline fuel cell
  • Solid oxide fuel cell

On the basis of power output, the hydrogen fuel cell vehicle market is segmented into

  • Less than 150kW
  • Between 150 and 250 kW
  • More than 250kW
Hydrogen Fuel Cell Vehicle Market: Regional Outlook

Growing concerns over the alarming pollution levels have driven the growth of the hydrogen fuel cell vehicle market over the forecast period. In the near future, the market is expected to grow at a rapid rate owing to an increase in the number of government initiatives across the world on improving fuel cell technology. The increase in the allocation of funds also contributes to the establishment of the required facilities such as hydrogen filling stations. North America is estimated to dominate the global hydrogen fuel cell market during the forecast period.

It is estimated that Asia-Pacific will experience substantial growth due to high demand for alternative or new energy vehicles. Developing Asia-Pacific economies have continued to vigorously support the advancement of fuel cell technology. Additionally, automakers are focusing on reducing the cost of hydrogen fuel cell vehicle components in the coming years. Many developed economies in Europe and North America are proposing to convert taxi fleets to fuel cell taxis. The industry is currently consolidating; many companies have announced the upcoming launch of their fuel cells.

Hydrogen Fuel Cell Vehicle Market: Competitive Analysis

Hyundai Motor Corporation, Honda Motor Company Ltd, Toyota Motor Corporation, Audi AG and BMW AG are prominent players in the hydrogen fuel cell vehicle market. Other major companies are Volvo Group, Ballard Power Systems Inc, General Motors Company, Honda Motor Co. Ltd, MAN SE and Daimler AG.

  • There are three hydrogen car models commercially available in some markets in 2019: the world’s first mass-produced dedicated fuel cell electric vehicle, the Toyota Mirai, the Hyundai Nexo and the Honda Clarity. Several other companies are developing hydrogen automobiles.

The Hydrogen Fuel Cell Vehicles market report provides an in-depth analysis of macroeconomic factors along with the market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country. The information concluded in the report includes contributions from industry participants and industry experts across the value chain.

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Hydrogen Fuel Cell Vehicles Market Report Covers Comprehensive Analysis on:

• Market dynamics
• Market segmentation
• Regional analysis
• Market size in value
• Price analysis
• Business analysis
• Analysis of market factors
• Market trends
• Regulatory landscape
• Competition landscape
• Business Profiles

The regional analysis includes:

• North America (United States, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)

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Hydrogen Fuel Cell Vehicle: Target Audience

• Manufacturers of hydrogen fuel cell vehicles
• Automobile/car/vehicle manufacturers
• Specialized publications and magazines
• Government authorities, associations and organizations