According to the latest report “Hydrogen Fuel Cell Vehicle Market By Technology, Vehicle Type and Region with Forecast To 2023, published by Market Research Future, the Hydrogen Fuel Cell Vehicle Market to Expand at 8.12% CAGR during forecast period of 2019 to 2023.
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According to the latest report “Hydrogen Fuel Cell Vehicle Market By Technology (Proton Exchange Membrane Fuel Cell, Alkaline Fuel cell, Solid Oxide Fuel Cell), By Vehicle Type (Commercial Vehicle and Passenger Cars) and Region with Forecast To 2023, published by Market Research Future, the Global Hydrogen Fuel Cell Vehicle Market to Expand at 8.12% CAGR during forecast period of 2019 to 2023.
Hydrogen Fuel Cell Vehicle Market Highlights:
The global hydrogen fuel cell vehicle market showcases a vast presence of noteworthy players including Toyota Motor Sales, USA, Inc. (Japan), The Hyundai Motor Company (South Korea), Daimler AG (Mercedes-Benz) (Germany), BMW (Germany), General Motors Company (U.S.), Groupe Renault (France), Mazda Motor Corporation (Japan), Hydrogenics (Canada), Kia Motor Corporation (South Korea), Tata Motors Limited (India).
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Hydrogen Fuel Cell Vehicle Market Drivers and Restraints:
A fuel cell vehicle combines hydrogen with oxygen to create electricity, which in turn runs the vehicle, as opposed to conventional vehicles which use gasoline, petrol or diesel. A fuel cell car operates on electricity and can be accepted as an electric vehicle. Market Research Future, in their recent report on hydrogen fuel cell vehicle market, has conveyed that it will garner steady growth during the forecast period. Many factors are influencing the market. The development of diversified technologies is creating new growth opportunities within the automotive industry.
Furthermore, higher cargo capability and longer range provided by a fuel cell vehicle are contributing to the proliferating adoption of the same. Since fuel cell vehicles can make their own electricity, many environmentally aware consumers are opting for fuel cell vehicles over electric vehicles that require home recharging. Rising environmental awareness has led to bolstering growth in the global hydrogen fuel cell market during the forecast period. This is due to the lower carbon emissions from HFCVs, in contrast to conventional vehicles that run on gasoline, diesel or petrol.
Even though the global hydrogen fuel cell vehicle market is receiving a positive consumer response, the market is likely to face some restraining factors as well. A lack of infrastructure to support the hydrogen fuel cell vehicle adoption is driving up initial investments, causing potential market players to second guess their decisions. Also, hydrogen fuel cell vehicles cost higher, hindering the growth of the market during the assessment period. Despite these restraints, the global hydrogen fuel cell market is likely to upscale on the growth chart at 8.12% CAGR by 2023.
Global Hydrogen Fuel Cell Vehicle Market Segments Analysis:
The global hydrogen fuel cell vehicle market is studied for various segments by Market Research Future.
The segmentations have been carried out on the basis of technology, vehicle type, and region. Based on technology, the global HFCV market is segmented into proton exchange membrane fuel cell, solid oxide fuel cell, and alkaline fuel cell. Based on vehicle type, the market is segmented into passenger car and commercial vehicle.
Global Hydrogen Fuel Cell Vehicle Market Regional Analysis:
The global hydrogen fuel cell vehicle market has been regionally segmented into North America, Asia Pacific, Europe, and Rest of the World. North America is expected to be at the forefront with the highest market share during the forecast period, just like it did in the recent past. California is projected to showcase unparalleled growth in the HFCV incentives and infrastructure. California is one of the first places to boast application commercial zero-emission FCVs on its roads. Development of hydrogen fueling infrastructure is significantly accelerated in the U.K., Japan, Germany, and California.
Asia Pacific is also expected to showcase substantial growth during the assessment period. Such growth is attributable to an upward demand for automobiles in the region. Rising population levels in emerging economies such as China and India, coupled with higher disposal incomes has led to a stellar ascension in the growth of the automotive market. This growth is expected throughout the forecast period, hence, opening various growth avenues for hydrogen fuel cell vehicle vendors. Further, speedy developments of the automotive sectors in countries like Japan and South Korea are also bolstering the hydrogen fuel cell vehicle market in the region.
Report Overview:
The report for Global Hydrogen Fuel Cell Vehicle Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 BARGAINING POWER OF SUPPLIERS
3.1.4 THREAT OF SUBSTITUTES
3.1.5 SEGMENT RIVALRY
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
Continued…
List Of Tables:
TABLE 1 HYDROGEN FUEL CELL VEHICLE INDUSTRY 3600 SYNOPSIS, 2012 – 2023
TABLE 2 GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET ESTIMATES AND FORECAST, 2012 – 2023, (TONS) (USD MILLION)
TABLE 3 GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET VOLUME BY REGION, 2012 – 2023, (TONS)
TABLE 4 GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET REVENUE BY REGION, 2012 – 2023, (USD MILLION)
Continued…
LIST OF FIGURES:
FIG. 1 HYDROGEN FUEL CELL VEHICLE INDUSTRY SEGMENTATION
FIG. 2 GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET VOLUME & REVENUE, (TONS) (USD MILLION), 2012 – 2023
FIG. 3 HYDROGEN FUEL CELL VEHICLE ECOSYSTEM ANALYSIS
FIG. 4 HYDROGEN FUEL CELL VEHICLE INDUSTRY IMPACT FORCES
Continued…
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