Fuel Cell Electric Vehicle Market
For sale by Maximize Market Research 31 Aug 2018 6:56 pm
Fuel Cell Electric Vehicle Market is estimated to reach US$ XX Mn by 2026 in terms of revenue at CAGR of XX % in the forecasting Period. Increasing pollution levels has led several government bodies to take initiatives to encourage usage of zero-emission automobiles for improving the air quality. For instance, Federal Fuel Economy Standards promotes usage of zero-emission automobiles which requires auto manufacturers support to produce and sell hydrogen-powered automobiles. Government and manufacturers support transition towards alternate fuel automobiles that in turn will contribute towards the growth of theFuel Cell Electric Vehicle Market size from 2017 to 2026. Manufacturing product at large scale and technological enhancements will enable fuel cell electric vehicles market to close the gap in costs and attributes with the conventional automotive. For instance, Toyota is reducing the usage of platinum from approximately 100g to 30g via nanotechnological changes resulting in reduced automobile costs. Hydrogen is a flexible energy carrier having potential to facilitate significant reductions in CO2 emissions. Small amount of hydrogen can be stored under limited space and ensure appropriate automobile weight requirements to permit long distances. This will limit the global temperature rise and reduce local air pollutants along with noise emissions. These are the benefits that will accelerate the market share over the forecast period of 2017-2026. Fuel Cell Electric Vehicle Market is majorly segmented by the vehicle, distance and region. Based on vehicle segment PCV is expected to dominate the global Fuel Cell Electric Vehicle Market in 2017 owing to increase in manufacturing of these automobiles across the globe. Rising government investments is boosting the segment demand. For instance, State of California has committed USD 20 million funding per year until 100 stations are set up for public use. Moreover, the U.S. is seeking to establish the infrastructure nationwide via H2USA public-private partnership along with private automakers support in this endeavor. Under distance segment, short distance fuel cell electric vehicle held highest market share in 2017. Mainly PCVs and forklifts contribute in traveling short distances. APAC region contributes majorly in the improvement of Fuel Cell Electric Vehicle Marketvolume size. Asia-Pacific held the highest market share in 2017 and is expected have higher growth rate in the forecast period. The high revenue generation in the region can be credited to the increased automobile production and fuel economy standards. In 2016, China accounted for the largest share in the region. India showcased a growth rate of almost 36% in the forecast time span. Rising penetration of zero emission automobiles will support the region’s dominance till 2026. Key player across the fuel cell electric vehicle industry are Honda, Toyota, Mercedes-Benz, and Hyundai. The industry participants believe in public private partnership as the appropriate structure to support technology shift. For instance, in California the Fuel Cell Partnership has enabled auto makers to come together and improve the automobiles to increase its penetration. Through such programs the Department of Energy is investing USD 40 million in research conducted between industrial partners and national laboratories. Manufacturers are indulged in partnerships along with research activities to gain competitive edge in the market. For instance, BMW collaborated with Toyota to develop fuel cell electric vehicle where in Toyota will construct fuel cell and BMW will focus on electric motor and hydrogen tank.
Fuel Cell Electric Vehicle Market Market Scope
Fuel Cell Electric Vehicle Market, By Vehicle
• PCV • LCV • HCV • E-bikes • Forklifts
Fuel Cell Electric Vehicle Market, By Distance
• Short • Long
Fuel cell electric vehicle Market, By Geography
• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America
Key Players operating in the market:
• Honda • Toyota • Mercedes-Benz • Hyundai • Riversimple Rasa • Audi • General Motors • Daimler
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current Fuel Cell Electric Vehicle Market outlook. Report encompasses the Fuel Cell Electric Vehicle Market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Fuel Cell Electric Vehicle Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Fuel Cell Electric Vehicle Market positioning of competitors.
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