Market Overview:
The global hydrogen fuel-cell electric vehicles 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 electric vehicles across the globe. Fuel cell electric vehicles are powered by electricity generated through a chemical reaction between hydrogen and oxygen, which produces water vapor as a byproduct. These vehicles have high efficiency and emit no pollutants, making them an attractive option for countries looking to reduce their greenhouse gas emissions. Additionally, governments are providing incentives such as tax credits and subsidies for the purchase of these vehicles, which is also contributing to their growing popularity. The commercial cars segment is expected to account for the largest share of the global hydrogen fuel-cell electric vehicles market in 2018. This can be attributed to rising demand from fleet operators for clean and efficient transportation solutions that reduce emissions and save on operating costs.
Product Definition:
A hydrogen fuel-cell electric vehicle (FCEV) is a type of electric vehicle that uses hydrogen as its onboard fuel. The FCEV converts the chemical energy from the hydrogen into electrical energy, which powers the vehicle's electric motor.
The advantages of FCEVs over traditional gasoline or diesel vehicles include: zero emissions (the only emission from an FCEV is water vapor), high efficiency, and long driving range.
The importance of FCEVs lies in their potential to help reduce greenhouse gas emissions and air pollution.
Fuel Cell Electric Vehicles:
The global fuel cell electric vehicles market is expected to grow at a significant rate owing to the growing demand for eco-friendly and emission-free transportation. Fuel cells are used in applications such as forklift trucks, buses, and passenger cars. The major driver of the FCEV market is its ability to reduce harmful emissions that contribute toward global warming.
Increasing government initiatives towards environmental protection coupled with rising awareness among consumers regarding clean air will propel growth over the forecast period.
Hybrid Electric Vehicles:
Hybrid Electric Vehicle (HEV) is a vehicle that uses more than one source of power to move. It can be powered by conventional sources like batteries or by electricity. Some HEVs use gas turbines for generating electricity, which turn the electric motor into a generator and vice versa. The most common types of hybrid vehicles are cars/suv, plug-in hybrid electric vehicles (PHEV), and mild hybrid electric vehicles (MHEV).
Application Insights:
The commercial cars segment dominated the global hydrogen fuel-cell electric vehicles market, accounting for over 60.0% share of the overall revenue in 2017. The segment is expected to witness significant growth owing to increasing adoption of fuel cell electric vehicles in corporate fleets and public transportation systems. Furthermore, growing government initiatives towards promoting the use of hydrogen as an energy carrier will further propel industry growth over the forecast period.
Hybrid Electric Vehicles (HEVs) are projected to witness considerable growth on account of increasing demand from passenger car users for advanced technology hybrid cars with better performance and efficiency characteristics than conventional gasoline-powered cars operating at similar speeds and outside a limited range area (i.e., urban areas).
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market, owing to increasing government support and growing adoption of fuel cell vehicles. For instance, in April 2017, the Government of India announced a National Hydrogen Development Programme with an investment of USD X million over a period of seven years for promoting FCEVs in India. The government also plans to introduce favorable policies for FCEVs including reduction in taxes and import duties as well as exemptions from registration fees and road user charges.
Europe was estimated to account for approximately 30% share by revenue in 2016 on account of high demand coupled with supportive measures taken by several countries including Sweden Denmark Germany Norway France Italy U.K.
Growth Factors:
- Increasing demand for fuel-cell electric vehicles from the commercial sector as they are more efficient and emit zero emissions.
- Government initiatives and subsidies for the development of hydrogen fuel-cell electric vehicles, which will help in reducing their cost and make them more accessible to consumers.
- The increasing popularity of eco-friendly transportation options among consumers, which is driving the demand for fuel-cell electric vehicles.
- Advancements in technology that have made fuel cells more efficient and reduced their cost, thus making them a viable option for mass adoption.
Scope Of The Report
Report Attributes
Report Details
Report Title
Hydrogen Fuel-Cell Electric Vehicles Market Research Report
By Type
Fuel Cell Electric Vehicles, Hybrid Electric Vehicles
By Application
Commercial Cars, Passenger Cars
By Companies
Daimler, Honda, Hyundai, Toyota, Audi, Ballard Power Systems, BMW, Fuel Cell Energy, GM, Hydrogenics, Volvo
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
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Hydrogen Fuel-Cell Electric Vehicles Market Report Segments:
The global Hydrogen Fuel-Cell Electric Vehicles market is segmented on the basis of:
Types
Fuel Cell Electric Vehicles, Hybrid Electric Vehicles
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
Commercial Cars, Passenger Cars
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
- Honda
- Hyundai
- Toyota
- Audi
- Ballard Power Systems
- BMW
- Fuel Cell Energy
- GM
- Hydrogenics
- Volvo
Highlights of The Hydrogen Fuel-Cell Electric Vehicles 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:
- Fuel Cell Electric Vehicles
- Hybrid Electric Vehicles
- By Application:
- Commercial Cars
- Passenger Cars
- 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 Fuel-Cell Electric Vehicles 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?
Hydrogen fuel-cell electric vehicles are powered by hydrogen gas and electricity from an external source. The hydrogen gas is produced by splitting water using a fuel cell.
Some of the major companies in the hydrogen fuel-cell electric vehicles market are Daimler, Honda, Hyundai, Toyota, Audi, Ballard Power Systems, BMW, Fuel Cell Energy, GM, Hydrogenics, Volvo.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hydrogen Fuel-Cell Electric Vehicles Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Hydrogen Fuel-Cell Electric Vehicles Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Hydrogen Fuel-Cell Electric Vehicles Market - Supply Chain
4.5. Global Hydrogen Fuel-Cell Electric Vehicles Market Forecast
4.5.1. Hydrogen Fuel-Cell Electric Vehicles Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Hydrogen Fuel-Cell Electric Vehicles Market Size (000 Units) and Y-o-Y Growth
4.5.3. Hydrogen Fuel-Cell Electric Vehicles Market Absolute $ Opportunity
5. Global Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Type
5.3.1. Fuel Cell Electric Vehicles
5.3.2. Hybrid Electric Vehicles
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Application
6.3.1. Commercial Cars
6.3.2. Passenger Cars
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Hydrogen Fuel-Cell Electric Vehicles Demand Share Forecast, 2019-2026
9. North America Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Application
9.4.1. Commercial Cars
9.4.2. Passenger Cars
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Type
9.7.1. Fuel Cell Electric Vehicles
9.7.2. Hybrid Electric Vehicles
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Hydrogen Fuel-Cell Electric Vehicles Demand Share Forecast, 2019-2026
10. Latin America Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Application
10.4.1. Commercial Cars
10.4.2. Passenger Cars
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Type
10.7.1. Fuel Cell Electric Vehicles
10.7.2. Hybrid Electric Vehicles
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Hydrogen Fuel-Cell Electric Vehicles Demand Share Forecast, 2019-2026
11. Europe Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Application
11.4.1. Commercial Cars
11.4.2. Passenger Cars
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Type
11.7.1. Fuel Cell Electri Vehicles
11.7.2. Hybrid Electric Vehicles
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Hydrogen Fuel-Cell Electric Vehicles Demand Share, 2019-2026
12. Asia Pacific Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Application
12.4.1. Commercial Cars
12.4.2. Passenger Cars
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Type
12.7.1. Fuel Cell Electric Vehicles
12.7.2. Hybrid Electric Vehicles
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Hydrogen Fuel-Cell Electric Vehicles Demand Share, 2019-2026
13. Middle East & Africa Hydrogen Fuel-Cell Electric Vehicles Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Application
13.4.1. Commercial Cars
13.4.2. Passenger Cars
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Hydrogen Fuel-Cell Electric Vehicles Market Size and Volume Forecast by Type
13.7.1. Fuel Cell Electric Vehicles
13.7.2. Hybrid Electric Vehicles
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Hydrogen Fuel-Cell Electric Vehicles Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Hydrogen Fuel-Cell Electric Vehicles Market: Market Share Analysis
14.2. Hydrogen Fuel-Cell Electric Vehicles Distributors and Customers
14.3. Hydrogen Fuel-Cell Electric Vehicles Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Daimler
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Honda
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Hyundai
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Toyota
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Audi
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Ballard Power Systems
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. BMW
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Fuel Cell Energy
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. GM
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Hydrogenics
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Volvo
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
