Global Hydrogen Fuel Cell Vehicle Industry valued approximately USD 465.0 million in 2017 is anticipated to grow with a healthy growth rate of more than 70.13% over the forecast period 2019-2025. The Hydrogen Fuel Cell Vehicle Industry is continuously growing in the global scenario at significant pace. Hydrogen fuel cell vehicles (HFCVs) are a class of electric vehicles that power the drive train of the vehicles through the energy generated from fuel cells. The fuel cell converts chemical energy generated from the positively charged hydrogen ions into electricity. The fuel cell technology has been adopted from the aerospace industry where it was first used to power space shuttles and satellites. Growing environmental concerns and development of infrastructure to produce hydrogen are the substantial driving factors of the Industry during the forecast period. Additionally, growth in adoption of automobiles in developing regions is another factor that boosting the demand of hydrogen fuel cell vehicle across the globe. Moreover, rising developments in aggressive hydrogen refueling stations (HRS) is the major factors that likely to create numerous opportunity in the near future. Moreover, hydrogen fuel cell have higher efficiency than the diesel or gas engines and can eliminate pollution by which demand of hydrogen fuel cell vehicle is increasing among its end-users across the globe. However, initial capital investment, reduced HRS and high cost of the vehicles are the factors that limiting the Industry growth of hydrogen fuel cell vehicles during the forecast period.
The regional analysis of Global Hydrogen Fuel Cell Vehicle Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Industry share due to rising development of hydrogen fueling infrastructure in the region. Europe is estimated to grow at reasonable growth rate in the global Hydrogen Fuel Cell Vehicle Industry over the upcoming years. Further, Asia-Pacific anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2025 owing to strong support of fuel cell technology in economies such as Japan and South Korea across the region.
The objective of the study is to define Industry sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Industry. Additionally, the report shall also incorporate available opportunities in micro Industrys for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
Hydrogen Fuel Cell Vehicle Industry Share and Size by 2019-2025
Hydrogen Fuel Cell Vehicle Market Segmentation:
Proton Exchange Membrane Fuel Cell
Phosphoric Acid Fuel Cells
* North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Major Market Players in Hydrogen Fuel Cell Vehicle Market are as follows:
Ballard Power Systems
Fuel Cell Energy