Global Hydrogen Powered Transport Market by Type (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells, Other), By Application (Passenger Vehicle, Commercial Vehicle) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global hydrogen powered transport 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 vehicles and rising concerns about environmental pollution. By type, the proton exchange membrane fuel cell segment is expected to lead the market during the forecast period, owing to its high efficiency and low emissions. By application, passenger vehicles are expected to lead the market during the forecast period, owing to their growing popularity among consumers. Geographically, North America is estimated to account for a major share of the global hydrogen powered transport market in 2018.



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Product Definition:

Hydrogen Powered Transport is a type of transportation that uses hydrogen as its fuel.

Proton Exchange Membrane Fuel Cell:

Proton exchange membrane fuel cell (PEMFC) is a type of fuel cell that uses hydrogen and oxygen to generate electricity. The proton exchange membrane finds its application in various industries such as water & wastewater treatment, food & beverage processing, pharmaceuticals, chemical manufacturing and others. PEMFC has the advantage over conventional systems in which the catalyst is not needed for re-energizing the external circuit as it has no solid state electrolyte.

Phosphoric Acid Fuel Cells:

Phosphoric acid fuel cells (PAFC) are one of the most efficient means for converting chemical energy into electrical energy. These fuel cells operate on the principle of oxidation and reduction of phosphoric acid, which is in turn used to generate electricity. PAFCs have a very high power density compared to conventional technologies such as diesel or steam-based turbines, owing to which they are being increasingly used for applications such as space heating, water & air conditioning cooling systems and electric vehicles.

Application Insights:

Passenger vehicle segment was the dominant application and accounted for over 70% of the global revenue share in 2017. Hydrogen is widely used in fuel cell vehicles as a power source for operating various functions such as cabin ventilation, heating and cooling, lighting, radio/CD player, mobile communication systems among others. Growing awareness regarding environment protection coupled with growing demand from governments to reduce greenhouse gas emissions is expected to drive passenger vehicle sales significantly over the forecast period.

Commercial vehicles are expected to witness significant growth on account of increasing adoption of H2-powered forklifts by manufacturing companies across the globe due to its ability to provide clean combustion with minimal emissions when compared with other fuels such as diesel or gasoline that are used in these commercial vehicles.

Regional Analysis:

Asia Pacific is expected to witness significant growth over the forecast period owing to increasing government initiatives for implementation of hydrogen fuel cell vehicles. For instance, in India, the Ministry of Energy and Mineral Resources has framed National Hydrogen Policy intended for promoting investments in R&D as well as commercialization of H2FCVs. This policy is also aimed at integrating H2FCVs into the conventional fuel infrastructure which will reduce overall cost associated with these vehicles.

Europe accounted for a major market share owing to early adoption by several countries such as Sweden and Denmark that have a high penetration of FCV's across the globe. Moreover, Germany has announced its intention towards procurement & deployment of around 150 thousand FCEV by 2020 which would propel industry growth further across Europe region.

Growth Factors:

Increasing demand for fuel-efficient vehicles: The global market for hydrogen powered transport is expected to grow at a CAGR of over 15% during the forecast period. This can be attributed to the increasing demand for fuel-efficient vehicles, as they emit less harmful gases into the atmosphere.
Government initiatives and subsidies: Governments across the globe are promoting the use of hydrogen powered transport through various initiatives and subsidies. This is likely to boost the growth of this market in the coming years.
Rising awareness about environment-friendly technologies: There is a growing awareness among consumers about environment-friendly technologies such as hydrogen powered transport, which is expected to drive its adoption in the near future.
Technological advancements: The development of new and innovative technologies has led to an increase in efficiency and performance of hydrogen powered transport systems, thereby driving their adoption worldwide.  5) Growing popularity of electric vehicles: Electric vehicles are gradually gaining popularity due to their low emissions and high efficiency levels; this is likely to create opportunities for growth in the global market for hydrogen powered transport in years ahead


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Scope Of The Report
Report Attributes
Report Details
Report Title
Hydrogen Powered Transport Market Research Report
By Type
Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells, Other
By Application
Passenger Vehicle, Commercial Vehicle
By Companies
Honda, Toyota, Hyundai, BMW, General Motors, Foton, Mercedes-Benz, Volkswagen, SAIC
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
197
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.

Global Hydrogen Powered Transport Market Report Segments:
The global Hydrogen Powered Transport market is segmented on the basis of:
Types
Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells, Other
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
Passenger Vehicle, Commercial Vehicle
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:
Honda
Toyota
Hyundai
BMW
General Motors
Foton
Mercedes-Benz
Volkswagen
SAIC



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Highlights of The Hydrogen Powered Transport 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:
Proton Exchange Membrane Fuel Cell
Phosphoric Acid Fuel Cells
Other
By Application:
Passenger Vehicle
Commercial Vehicle
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 Hydrogen Powered Transport 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

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