A recent report published by Infinium Global Research on hydrogen
fuel cell vehicle market provides an in-depth analysis of segments and
sub-segments in the global as well as regional hydrogen fuel cell vehicle
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional hydrogen fuel cell vehicle market over
the short term as well as long term. The report is a comprehensive presentation
of trends, forecast and dollar values of global hydrogen fuel cell vehicle
market. According to the report, the global hydrogen fuel cell vehicle market
is projected to grow at a CAGR of 70.2% over the forecast period of 2019-2025.
A hydrogen fuel cell vehicle uses hydrogen fuel for motive power. It
offers various benefits such as easy maintenance, lower gas emissions, silent
functioning that reduces noise pollution. Moreover, the increasing inclination
toward the reduction of air pollution and greenhouse emission drives the growth
of the global hydrogen fuel cell vehicle market. Furthermore, a number of
countries have developed hydrogen infrastructure plans to meet FCV deployment
requirement will further boost the global market. For instance, Korea had 13
completed hydrogen refueling stations in 2015 and is expected to have a total of
168 hydrogen stations by 2020. Furthermore, the hydrogen fuel cell vehicle market
is likely to gain importance owing to its rapid advancement. Additionally, the
key automobile manufacturers are spending heavily and are moving towards
hydrogen fuel cell vehicle. On the other hand, the high cost of the vehicle and huge
initial investment required for infrastructure are some factors expected to
hamper the growth of hydrogen fuel cell vehicle market. Going further,
expanding government expenditure on automotive sector along with the
development of cost-effective hydrogen fuel cell vehicle creates an opportunity
for a global hydrogen fuel cell vehicle market in coming years.
In terms of geography, North America is accounted to hold maximum
share and will continue to dominate the market throughout the forecast period
owing to the development of infrastructures of a hydrogen fuel cell.
Furthermore, the expansions of hydrogen fueling infrastructure are majorly
accelerated by major companies operating in countries such as the U.K.,
Germany has announced plans to help the funding of hydrogen fueling station.
Which in turn, drives the growth of the Europe region. On the other hand, Asia-Pacific
is anticipated to grow at a significant growth rate over the forecast period.
The development of automotive manufacturing industries in developing economies
such as China, India, Japan, and South Korea continued its strong support of
fuel cell technology.
The report on global hydrogen fuel cell vehicle market covers
segments such as technology, and vehicle type. On the basis of technology, the
sub-markets include alkaline fuel cell, proton exchange membrane fuel cell, and
solid oxide fuel cell. On the basis of vehicle type, the sub-markets include
passenger cars, and commercial vehicle.
The report provides profiles of the companies in the market such
as Tata Motors Limited, Kia Motors Corporation, Hydrogenics, Mazda Motor
Corporation, Groupe Renault, General Motors Company, BMW, Daimler AG, The
Hyundai Motor Company, Toyota Motor, and other companies.
The report provides deep insights into the demand forecasts, market
trends, and micro and macro indicators. In addition, this report provides
insights into the factors that are driving and restraining the growth in this
market. Moreover, The IGR-Growth Matrix analysis given in the report brings an
insight into the investment areas that existing or new market players can
consider. The report provides insights into the market using analytical tools
such as Porter's five forces analysis and DRO analysis of hydrogen fuel cell
vehicle market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.