Hydrogen Fuel Cell Vehicle Market Global Demand and Latest Technology 2021
Posted by Vedika on March 29th, 2021
The Global Hydrogen Fuel Cell Vehicle Market size is estimated to be USD 1.41 billion in 2019 and is predicted to reach USD 553.11 billion by 2030 with a CAGR of 72.1% from 2020-2030.
Hydrogen Fuel Cell Vehicle is operated by the means of hydrogen fuel cell which utilizes the hydrogen fuel cell for the generation of electricity to power the vehicle. It does not generate any greenhouse gas during the operation as compared to petrol diesel and gasoline vehicles. These vehicles not only help in the reduction of greenhouse gases but also help in the development of advanced vehicles for the future.
Access Full Description of this report at:-
Top Companies: Honda, Toyota, BMW, Ballard Power Systems, Daimler, General Motors, Audi, MAN and others.
The global hydrogen fuel cell vehicle market share is analyzed on the basis of vehicle type, fuel cell technology type and geography. On the basis of vehicle type, the market is segmented into Passenger Vehicle and Commercial Vehicle. On the basis of hydrogen fuel cell technology, the market is divided into Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America represents to hold the major market share over the forecast period owing to the increased adoption of hydrogen fuel cell vehicles, technological advancement and others. Furthermore, increase in environmental concerns, hike in fuel prices coupled with technological advancement are further expected to enhance the market growth. Asia Pacific is expected to represents the gradual increase in market size with significant growth rate owing to the increased awareness, stringent government regulation and increasing adoption of advanced technology coupled with increase in disposable income are expected to contribute the growth of hydrogen fuel cell vehicle market over the forecast period.
About Next Move Strategy Consulting:
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
Like it? Share it!
About the AuthorVedika
Joined: November 28th, 2020
Articles Posted: 128
More by this author