Market Overview:
The global fuel cell commercial vehicle market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for fuel cell commercial vehicles for freight transport and passenger transport applications. In addition, the increasing focus on reducing greenhouse gas emissions is also driving the demand for fuel cell commercial vehicles. The light commercial vehicle segment is expected to account for a major share of the global fuel cell commercial vehicle market during the forecast period. This can be attributed to the growing demand for light-duty trucks and vans in developed and developing countries alike.
Product Definition:
A fuel cell commercial vehicle is a type of electric vehicle that uses a fuel cell to produce electricity. The electricity is used to power an electric motor, which drives the vehicle. Fuel cells are very efficient, and they can run on a variety of fuels, including hydrogen, natural gas, and propane.
Light Commercial Vehicles (LCVs):
Light commercial vehicles are passenger cars or light trucks with gross vehicle weight rating of less than 8,500 lbs. They are used for transportation of goods and passengers in the business sector. LCVs include pickup trucks, minivans, and sport utility vehicles among others.
Heavy Commercial Vehicles (HCVs):
Heavy commercial vehicles are trucks and buses that are more than 7.5 tons in weight. They are used for transporting goods over longer distances and include a wide range of transport vehicles such as refrigerated, dry van, tankers, ambulance vans among others. The growing trade between countries is expected to boost the demand for heavy commercial vehicles in fuel cell commercial vehicle market over the forecast period.
Application Insights:
The freight transport application segment accounted for the largest share of 60.0% in 2017 and is projected to witness significant growth over the forecast period. The growing adoption of fuel cell powered trucks and buses in countries such as Japan, South Korea, China, Germany and France is expected to drive demand over the forecast period.
The passenger transport application segment accounted for 39.0% share of the global fuel cell commercial vehicle market revenue in 2017 due to high cost associated with it which makes it unviable as a replacement for conventional diesel or gasoline fueled vehicles on a large scale basis globally.
Regional Analysis:
Europe accounted for the largest market share of more than 35% in 2017. The region is expected to dominate the global fuel cell commercial vehicle market over the forecast period, owing to favorable government policies and increasing investments by OEMs in R&D activities. Furthermore, growing demand for hydrogen fuel cells across various applications is anticipated to drive regional growth over the forecast period.
The Asia Pacific regional market is projected to witness significant growth from 2018 to 2030 due its rapidly expanding automotive industry base and rising adoption of advanced technologies such as electric vehicles (EVs) and hydrogen fuel cells across countries such as China, India, South Korea & Japan). Moreover, supportive government regulations are also expected favorably impact regional growth during the forecast period.
Growth Factors:
- Increasing demand for fuel cell commercial vehicles from the logistics sector due to the growing popularity of electric and hybrid vehicles.
- The increasing focus on reducing emissions and improving air quality is driving the adoption of fuel cell commercial vehicles in regions with stringent emission regulations.
- Growing demand for hydrogen as a transportation fuel due to its low emissions and high efficiency characteristics compared to other fuels such as gasoline or diesel.
- The increasing number of collaborations between automakers and technology companies for the development of fuel cell commercial vehicle technologies is expected to spur market growth over the next few years.
- Government initiatives aimed at promoting the adoption of clean energy technologies are likely to provide a boost to Fuel Cell Commercial Vehicle market growth in coming years
Scope Of The Report
Report Attributes
Report Details
Report Title
Fuel Cell Commercial Vehicle Market Research Report
By Type
Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
By Application
Freight Transport, Passenger Transport
By Companies
Daimler, Renault, Toyota Motor Corporation, Ballard Power Systems, Iveco Bus, MAN, Thor Industries, Van Hool, Wrightbus, Daimler
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
206
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Fuel Cell Commercial Vehicle Market Report Segments:
The global Fuel Cell Commercial Vehicle market is segmented on the basis of:
Types
Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Freight Transport, Passenger Transport
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Daimler
- Renault
- Toyota Motor Corporation
- Ballard Power Systems
- Iveco Bus
- MAN
- Thor Industries
- Van Hool
- Wrightbus
- Daimler
Highlights of The Fuel Cell Commercial Vehicle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- By Application:
- Freight Transport
- Passenger Transport
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Fuel Cell Commercial Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A fuel cell commercial vehicle is a type of electric vehicle that is designed to be used on the road. These vehicles typically have a much higher capacity than traditional electric cars, and they are often able to travel longer distances without needing to be recharged. They are also much more expensive than traditional electric cars, but this may eventually change as technology improves.
Some of the major players in the fuel cell commercial vehicle market are Daimler, Renault, Toyota Motor Corporation, Ballard Power Systems, Iveco Bus, MAN, Thor Industries, Van Hool, Wrightbus, Daimler.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Fuel Cell Commercial Vehicle Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Fuel Cell Commercial Vehicle Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Fuel Cell Commercial Vehicle Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Fuel Cell Commercial Vehicle Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Fuel Cell Commercial Vehicle Market Size & Forecast, 2020-2028 4.5.1 Fuel Cell Commercial Vehicle Market Size and Y-o-Y Growth 4.5.2 Fuel Cell Commercial Vehicle Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Light Commercial Vehicles (LCVs)
5.2.2 Heavy Commercial Vehicles (HCVs)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Freight Transport
6.2.2 Passenger Transport
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Fuel Cell Commercial Vehicle Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Fuel Cell Commercial Vehicle Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Light Commercial Vehicles (LCVs)
9.6.2 Heavy Commercial Vehicles (HCVs)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Freight Transport
9.10.2 Passenger Transport
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Light Commercial Vehicles (LCVs)
10.6.2 Heavy Commercial Vehicles (HCVs)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Freight Transport
10.10.2 Passenger Transport
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Light Commercial Vehicles (LCVs)
11.6.2 Heavy Commercial Vehicles (HCVs)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Freight Transport
11.10.2 Passenger Transport
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Light Commercial Vehicles (LCVs)
12.6.2 Heavy Commercial Vehicles (HCVs)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Freight Transport
12.10.2 Passenger Transport
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Light Commercial Vehicles (LCVs)
13.6.2 Heavy Commercial Vehicles (HCVs)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Freight Transport
13.10.2 Passenger Transport
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Fuel Cell Commercial Vehicle Market: Competitive Dashboard
14.2 Global Fuel Cell Commercial Vehicle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Daimler
14.3.2 Renault
14.3.3 Toyota Motor Corporation
14.3.4 Ballard Power Systems
14.3.5 Iveco Bus
14.3.6 MAN
14.3.7 Thor Industries
14.3.8 Van Hool
14.3.9 Wrightbus
14.3.10 Daimler