Global Fuel Cell Vehicles Market Growth 2023-2029

Global Fuel Cell Vehicles Market Growth 2023-2029

A fuel cell car (FCV) is a car powered by electric power generated by an on-board fuel cell device. The fuel used in an on-vehicle fuel cell apparatus is a highly-hydrogen-containing reformed gas obtained by reforming a high-purity hydrogen gas or a hydrogen-containing fuel. Compared with the usual electric vehicles, the difference in power is that the power used by the FCV comes from the vehicle-mounted fuel cell device, and the power used by the electric vehicle comes from the grid-charged battery. Therefore, the key to FCV is fuel cell.

LPI (LP Information)' newest research report, the “Fuel Cell Vehicles Industry Forecast” looks at past sales and reviews total world Fuel Cell Vehicles sales in 2022, providing a comprehensive analysis by region and market sector of projected Fuel Cell Vehicles sales for 2023 through 2029. With Fuel Cell Vehicles sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Fuel Cell Vehicles industry.

This Insight Report provides a comprehensive analysis of the global Fuel Cell Vehicles landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Fuel Cell Vehicles portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Fuel Cell Vehicles market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Fuel Cell Vehicles and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Fuel Cell Vehicles.

The global Fuel Cell Vehicles market size is projected to grow from US$ 28980 million in 2022 to US$ 79720 million in 2029; it is expected to grow at a CAGR of 79720 from 2023 to 2029.

Fuel cell technology for vehicle is becoming increasing important owing to its uniqueness and non-pollution. The technology has the ability to power all vehicle types including heavy duty, power forklifts, passenger, and airport tugs.Environmental effects from vehicles emission is a key point to drive FCV market growth. Unlike traditional cars generated by non-renewable resource create a large amount of exhaust which can be harmful to health. New energy vehicle mainly depends to battery instead of petrol. North America was the leading global market owing to continuous government initiatives undertaken to develop hydrogen infrastructure in order to promote hydrogen fuel cell vehicle in this region. Additionally, Asia-Pacific is expected to witness the rapid growth over the forecast period owing to government support.

This report presents a comprehensive overview, market shares, and growth opportunities of Fuel Cell Vehicles market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Proton Exchange Membrane Fuel Cell
Alkaline Fuel cell
Solid Oxide Fuel Cell

Segmentation by application
Forklifts
Airplanes
Submarines
Buses
Motorcycles & Bicycles
Trams
Boats

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Acumentrics SOFC Corporation
Automotive Fuel Cell Cooperation Corp
Ballard Power Systems
BMW
Audi
GreenGT
Proton Power Systems
Hydrogenics
Nissan
Toyota Motor Corporation
Daimler
Ballard
VW Group

Key Questions Addressed in this Report

What is the 10-year outlook for the global Fuel Cell Vehicles market?

What factors are driving Fuel Cell Vehicles market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Fuel Cell Vehicles market opportunities vary by end market size?

How does Fuel Cell Vehicles break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.