Analysis of Automotive Hydrogen Fuel Cell market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Hydrogen has been proposed as a future transportation fuel for zero emission vehicles, because of its potential to reduce greenhouse gas emissions in the transport sector as well as air pollutant emissions. Subsequently, hydrogen fuel cells are developed to offer a sustainable mobility in the future. Although a hydrogen fuel cell vehicle has no tailpipe emissions of carbon or air pollutants, there can be “upstream” emissions from producing hydrogen.
Recent analysis suggests that low carbon futures suggest that a variety of vehicles with hydrogen fuel cell could play a major role in the future light duty vehicle fleet. Launching an automotive hydrogen fuel cell involves surmounting an array of challenging economic and logistical barriers, which suggests a role for policy.
Although there has been progress, the costs of automotive hydrogen fuel cell vehicles are still high, consumer adoption and market growth are uncertain, and building a new hydrogen infrastructure will be costly and risky. Subsequently, the aim of the study is to analyze the most recent trends, dynamics, and potential strategies in the global automotive hydrogen fuel cell market.
Automotive hydrogen fuel cell vehicles began commercial introduction in Japan, Europe and the U.S. (notably California), in 2013. Prominent OEMs including Hyundai, Toyota and Honda have entered the automotive hydrogen fuel cell market. Nissan, GM and Daimler have announced plans to commercialize FCVs (Automotive hydrogen duel cell vehicles) within the next few years. Automotive hydrogen fuel cell is also being demonstrated in fleet vehicles such as transit buses where there are currently a few dozen in operation with a few hundred planned over the next few years and trucks.
Markets for automotive hydrogen fuel cells are growing rapidly, more than doubling in 2016. Although current automotive hydrogen fuel cell vehicles are costly, obstructing the growth of the automotive hydrogen fuel cell market. Moreover, the growth of high-cost automotive hydrogen fuel cell market is mainly curtailed by the prevalence of conventional or gasoline/diesel driven buses. Today automotive hydrogen fuel cell buses offer an attractive business case and a lower total cost of ownership compared to other low and zero-emission options and fuel cost parity with diesel buses.
Currently, North America and China are at the forefront of the automotive hydrogen fuel cell market owing to significant investments and initiatives. Furthermore, in the long run, Europe and other South East Asian nations will likely to emerge as lucrative regions for the automotive hydrogen fuel cell market.
In a nutshell, investments will be the key for the rapid development of automotive hydrogen fuel cell market. In North America and Europe the emphasis has been more on automotive hydrogen fuel cell light duty vehicles, although automotive hydrogen fueled buses and trucks are also being demonstrated. There is strong interest in “power to gas” concepts in Europe.
In China, there is interest in long-distance zero emission intercity transit via automotive hydrogen fuel cell buses, while urban light duty vehicles rely more on batteries. Moreover, public funding for automotive hydrogen fuel cells currently exceeds a billion per year globally. Japan, Germany, the European Union, South Korea, and the U.S. each have programs of at least US$ 100 million per year.
List of some of the prominent market participants in the global Automotive Hydrogen Fuel Cell market discerned across the value chain include:
The research report – Automotive Hydrogen Fuel Cell presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The study on Automotive Hydrogen Fuel Cell market also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Automotive Hydrogen Fuel Cell market segments such as geographies, application, and industry.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain in the Automotive Hydrogen Fuel Cell market. The report – Automotive Hydrogen Fuel Cell provide in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Automotive Hydrogen Fuel Cell market segments and geographies.
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NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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The global automotive hydrogen fuel cell market can be segmented on the basis of vehicle type and region.
On the basis of vehicle type, the global automotive hydrogen fuel cell market can be segmented as:
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The automotive hydrogen fuel cell market is predicted to grow at 58.3% CAGR during the forecast period.
The automotive hydrogen fuel cell market has high growth potential due to an increase in awareness of the consequences of air pollution and rises in levels of traffic & greenhouse gas emissions.
In the LAMEA region, manufacturers may find the most opportunities in the automotive hydrogen fuel cell market.
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