Rising environmental concerns and depleting conventional energy sources has led to a strong competition among industries around the globe for inventing, developing, commercializing and adapting viable alternative solutions thus driving global hydrogen fuel cell vehicles market. Vehicles have been using fossil fuels since a long period, contributing as a major factor towards rapid environment degradation along with depletion of fossil fuel sources around the globe.
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A study of International Council on Clean Transportation published in 2019 states that, around 84% of transportation related deaths in 2015 occurred in G20 countries out of which around half of the deaths were caused by exhaust from diesel vehicles. Also, a news article published by European Parliament in March 2019 states that major reason of CO2 emissions in European countries is transportation, contributing nearly 30% of the total emissions. This has led to development of vehicles powered by alternative energy sources such as solar energy, electric energy and others. Electric energy has proved to be an economic and environment friendly alternative compared to other options but the adoption rate of electric vehicles is facing challenges in terms of range and infrastructure. Fuel cell technology overcomes the range and efficiency challenges in electromobility. Fuel cell uses hydrogen and atmospheric oxygen as a fuel to produce clean and efficient electricity that can power cars, trucks, buses, and other wide array of stationary applications and eliminates harmful tail-pipe emissions.
In terms of revenue, the global hydrogen fuel cell vehicles market was estimated to be US$ 670 Mn in 2018 and is expected to grow at a CAGR of 13.8% over the forecast period. The study analyzes the market in terms of revenue across all the major regions, which has been further bifurcated into countries.
The report provides both, qualitative and quantitative research of global hydrogen fuel cell vehicles market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.
The primary participants in the global hydrogen fuel cell vehicles market include Honda Motor Co., Daimler AG, Hyundai Motor Company, Kia Motor Corporation, Mazda Motor Corporation, Renault, Tata Motors, Roland Gumpert and Toyota Motor Corporation amongst others. Leading players in the hydrogen fuel cell vehicles market are taking on a number of strategic initiatives such as mergers, partnerships agreements, acquisitions, new product releases and regional expansions that will allow companies to retain their market position.
Global Hydrogen Fuel Cell Vehicles Market:
- By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- By End Users
- Individual
- Industry
- Food and Beverage
- Public Transportation
- Logistics
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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