The Global Fuel Cell Vehicle Market Size is expected to expand by recording an impressive value of USD xx.xx Billion by the end of 2025, touching the positive CAGR of x.x% in the next couple of years.
There is upward graph of global fuel cell vehicle industry as the fuel cell technology offers efficiency to power airport tugs, passenger vehicles and heavy duty vehicles. This technology has set foot in the market with its rapid advancement. Additionally, the leading automobile manufacturers are investing heavily and moving towards this technology. These vehicles shows immaculate durability which indicates positive growth towards the main motive set by U.S. Department of Energy. Sale is slated to have steady and stable growth in the forthcoming years owing to advent of transit buses and hydrogen fuel cell vehicle market.
The expansion of global hydrogen fuel cell vehicle size is slated to create higher job and business opportunities mainly in the R&D department. With help of hydrogen fuel cell vehicle, there is commendable decline in air pollutants and greenhouse gas emissions. Acceptance of hydrogen vehicles and proliferating implementation will up surge the industry demand over forecast period.
The region which owns the major global fuel cell vehicle share is North America. The factors that have major contribution is higher rate of development of fuel cell infrastructure like hydrogen filling stations. The market is projected to exhibit a CAGR of x.x% in the forthcoming years to retain its leading position. The United States Department of Energy have invested considerably in development of fuel cells so as to encourage higher adoption of FCVs. Additionally, states of U.S. such as California, Connecticut, New York and Nebraska have introduced launched rebate programs that is inclusive of incentives for FCVs.
In Europe, fuel cell vehicle market is predicted to expand at the highest CAGR of xx.x in the next couple of years. This substantial growth is due to the announcement of European Commission to invest USD 106 million in the next upcoming years. Asia-Pacific aggressive growth is contributed to promotion and subsequent adoption of FCEVs in Japan. Huge investments coming from Chinese and South Korean government is expected to contribute positively in the regional growth.
The global fuel cell vehicle market is segmented on the basis of vehicle type, which includes Commercial Vehicles and Passenger Cars. Further segmentation based on the fuel cell technology type includes Proton Exchange Membrane Fuel Cell, Modern-Day Fuel Cells, Fuel Cells and Batteries, Platinum as a Catalyst, Durability of Fuel Cell Systems and Others.
The global players who operate the global fuel cell vehicle market are Cellkraft AB, Ballard Power Systems, Altergy Systems, Ceramic Fuel Cells Ltd., BIC Consumer Products, Automotive Fuel Cell Cooperation CorpAFC Energy and Acumentrics SOFC Corporation. The companies who use fuel cell in vehicles are Nissan Motor Company Ltd., BMW AG, Toyota Motor Corporation, Daimler AG and Audi AG.
Key segments of ‘Global Fuel Cell Vehicle Market’
Based on vehicle type, the market has been segmented into,
- Passenger Cars
- Commercial Vehicles
Based on technology type, the market has been segmented into,
- Proton Exchange Membrane Fuel Cell
- Modern-Day Fuel Cells
- Fuel Cells and Batteries
- Platinum as a Catalyst
- Durability of Fuel Cell Systems
Based on region, the market has been segmented into,
- North America
- Rest of Europe
- South Korea
What to expect from the upcoming report on ‘Global Fuel Cell Vehicle Market’:
- Future prospects and current trends of the global fuel cell vehicle market by the end of forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing economies
- Supportive initiatives by government likely to influence the market dynamics
- Trends, drivers, opportunities, restraints, challenges and key developments in the market
- In-depth analysis of different market segmentations including regional segmentations, and product types
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market
Who should buy this report?
Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.