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.
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