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Hydrogen Fuel Cell Vehicle-Global Market Insights and Sales Trends 2024
Synopsis
Hydrogen fuel cell vehicles (HFCVs) are a class of electric vehicles that power the drive train of the vehicles through the energy generated from fuel cells. The fuel cell converts chemical energy generated from the positively charged hydrogen ions into electricity. The fuel cell technology has been adopted from the aerospace industry where it was first used to power space shuttles and satellites.
The global Hydrogen Fuel Cell Vehicle market size is expected to reach US$ 4234.1 million by 2029, growing at a CAGR of 44.4% from 2023 to 2029. The market is mainly driven by the significant applications of Hydrogen Fuel Cell Vehicle in various end use industries. The expanding demands from the Passenger Vehicles and Commercial Vehicles, are propelling Hydrogen Fuel Cell Vehicle market. Proton Exchange Membrane Fuel Cells, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Phosphoric Acid Fuel Cells segment is estimated at % CAGR for the next seven-year period.
Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Hydrogen Fuel Cell Vehicle, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Hydrogen Fuel Cell Vehicle market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Hydrogen Fuel Cell Vehicle market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Hydrogen Fuel Cell Vehicle sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Hydrogen Fuel Cell Vehicle covered in this report include Daimler, Honda, Hyundai and Toyota, etc.
The global Hydrogen Fuel Cell Vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Daimler
Honda
Hyundai
Toyota
Global Hydrogen Fuel Cell Vehicle market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Hydrogen Fuel Cell Vehicle market, Segment by Type:
Proton Exchange Membrane Fuel Cells
Phosphoric Acid Fuel Cells
Others
Global Hydrogen Fuel Cell Vehicle market, by Application
Passenger Vehicles
Commercial Vehicles
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Hydrogen Fuel Cell Vehicle manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Hydrogen Fuel Cell Vehicle in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Hydrogen fuel cell vehicles (HFCVs) are a class of electric vehicles that power the drive train of the vehicles through the energy generated from fuel cells. The fuel cell converts chemical energy generated from the positively charged hydrogen ions into electricity. The fuel cell technology has been adopted from the aerospace industry where it was first used to power space shuttles and satellites.
The global Hydrogen Fuel Cell Vehicle market size is expected to reach US$ 4234.1 million by 2029, growing at a CAGR of 44.4% from 2023 to 2029. The market is mainly driven by the significant applications of Hydrogen Fuel Cell Vehicle in various end use industries. The expanding demands from the Passenger Vehicles and Commercial Vehicles, are propelling Hydrogen Fuel Cell Vehicle market. Proton Exchange Membrane Fuel Cells, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Phosphoric Acid Fuel Cells segment is estimated at % CAGR for the next seven-year period.
Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Hydrogen Fuel Cell Vehicle, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Hydrogen Fuel Cell Vehicle market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Hydrogen Fuel Cell Vehicle market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Hydrogen Fuel Cell Vehicle sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Hydrogen Fuel Cell Vehicle covered in this report include Daimler, Honda, Hyundai and Toyota, etc.
The global Hydrogen Fuel Cell Vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Daimler
Honda
Hyundai
Toyota
Global Hydrogen Fuel Cell Vehicle market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Hydrogen Fuel Cell Vehicle market, Segment by Type:
Proton Exchange Membrane Fuel Cells
Phosphoric Acid Fuel Cells
Others
Global Hydrogen Fuel Cell Vehicle market, by Application
Passenger Vehicles
Commercial Vehicles
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Hydrogen Fuel Cell Vehicle manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Hydrogen Fuel Cell Vehicle in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Hydrogen Fuel Cell Vehicle Market Overview
1.1 Hydrogen Fuel Cell Vehicle Product Overview
1.2 Hydrogen Fuel Cell Vehicle Market Segment by Type
1.2.1 Proton Exchange Membrane Fuel Cells
1.2.2 Phosphoric Acid Fuel Cells
1.2.3 Others
1.3 Global Hydrogen Fuel Cell Vehicle Market Size by Type
1.3.1 Global Hydrogen Fuel Cell Vehicle Market Size Overview by Type (2018-2029)
1.3.2 Global Hydrogen Fuel Cell Vehicle Historic Market Size Review by Type (2018-2023)
1.3.3 Global Hydrogen Fuel Cell Vehicle Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Hydrogen Fuel Cell Vehicle Sales Breakdown by Type (2018-2023)
1.4.2 Europe Hydrogen Fuel Cell Vehicle Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Hydrogen Fuel Cell Vehicle Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Hydrogen Fuel Cell Vehicle Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Hydrogen Fuel Cell Vehicle Sales Breakdown by Type (2018-2023)
2 Global Hydrogen Fuel Cell Vehicle Market Competition by Company
2.1 Global Top Players by Hydrogen Fuel Cell Vehicle Sales (2018-2023)
2.2 Global Top Players by Hydrogen Fuel Cell Vehicle Revenue (2018-2023)
2.3 Global Top Players by Hydrogen Fuel Cell Vehicle Price (2018-2023)
2.4 Global Top Manufacturers Hydrogen Fuel Cell Vehicle Manufacturing Base Distribution, Sales Area, Product Type
2.5 Hydrogen Fuel Cell Vehicle Market Competitive Situation and Trends
2.5.1 Hydrogen Fuel Cell Vehicle Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Hydrogen Fuel Cell Vehicle Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Hydrogen Fuel Cell Vehicle as of 2022)
2.7 Date of Key Manufacturers Enter into Hydrogen Fuel Cell Vehicle Market
2.8 Key Manufacturers Hydrogen Fuel Cell Vehicle Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Hydrogen Fuel Cell Vehicle Status and Outlook by Region
3.1 Global Hydrogen Fuel Cell Vehicle Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Hydrogen Fuel Cell Vehicle Historic Market Size by Region
3.2.1 Global Hydrogen Fuel Cell Vehicle Sales in Volume by Region (2018-2023)
3.2.2 Global Hydrogen Fuel Cell Vehicle Sales in Value by Region (2018-2023)
3.2.3 Global Hydrogen Fuel Cell Vehicle Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Hydrogen Fuel Cell Vehicle Forecasted Market Size by Region
3.3.1 Global Hydrogen Fuel Cell Vehicle Sales in Volume by Region (2024-2029)
3.3.2 Global Hydrogen Fuel Cell Vehicle Sales in Value by Region (2024-2029)
3.3.3 Global Hydrogen Fuel Cell Vehicle Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Hydrogen Fuel Cell Vehicle by Application
4.1 Hydrogen Fuel Cell Vehicle Market Segment by Application
4.1.1 Passenger Vehicles
4.1.2 Commercial Vehicles
4.2 Global Hydrogen Fuel Cell Vehicle Market Size by Application
4.2.1 Global Hydrogen Fuel Cell Vehicle Market Size Overview by Application (2018-2029)
4.2.2 Global Hydrogen Fuel Cell Vehicle Historic Market Size Review by Application (2018-2023)
4.2.3 Global Hydrogen Fuel Cell Vehicle Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Hydrogen Fuel Cell Vehicle Sales Breakdown by Application (2018-2023)
4.3.2 Europe Hydrogen Fuel Cell Vehicle Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Hydrogen Fuel Cell Vehicle Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Hydrogen Fuel Cell Vehicle Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Hydrogen Fuel Cell Vehicle Sales Breakdown by Application (2018-2023)
5 North America Hydrogen Fuel Cell Vehicle by Country
5.1 North America Hydrogen Fuel Cell Vehicle Historic Market Size by Country
5.1.1 North America Hydrogen Fuel Cell Vehicle Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Hydrogen Fuel Cell Vehicle Sales in Volume by Country (2018-2023)
5.1.3 North America Hydrogen Fuel Cell Vehicle Sales in Value by Country (2018-2023)
5.2 North America Hydrogen Fuel Cell Vehicle Forecasted Market Size by Country
5.2.1 North America Hydrogen Fuel Cell Vehicle Sales in Volume by Country (2024-2029)
5.2.2 North America Hydrogen Fuel Cell Vehicle Sales in Value by Country (2024-2029)
6 Europe Hydrogen Fuel Cell Vehicle by Country
6.1 Europe Hydrogen Fuel Cell Vehicle Historic Market Size by Country
6.1.1 Europe Hydrogen Fuel Cell Vehicle Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Hydrogen Fuel Cell Vehicle Sales in Volume by Country (2018-2023)
6.1.3 Europe Hydrogen Fuel Cell Vehicle Sales in Value by Country (2018-2023)
6.2 Europe Hydrogen Fuel Cell Vehicle Forecasted Market Size by Country
6.2.1 Europe Hydrogen Fuel Cell Vehicle Sales in Volume by Country (2024-2029)
6.2.2 Europe Hydrogen Fuel Cell Vehicle Sales in Value by Country (2024-2029)
7 Asia-Pacific Hydrogen Fuel Cell Vehicle by Region
7.1 Asia-Pacific Hydrogen Fuel Cell Vehicle Historic Market Size by Region
7.1.1 Asia-Pacific Hydrogen Fuel Cell Vehicle Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Hydrogen Fuel Cell Vehicle Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Hydrogen Fuel Cell Vehicle Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Hydrogen Fuel Cell Vehicle Forecasted Market Size by Region
7.2.1 Asia-Pacific Hydrogen Fuel Cell Vehicle Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Hydrogen Fuel Cell Vehicle Sales in Value by Region (2024-2029)
8 Latin America Hydrogen Fuel Cell Vehicle by Country
8.1 Latin America Hydrogen Fuel Cell Vehicle Historic Market Size by Country
8.1.1 Latin America Hydrogen Fuel Cell Vehicle Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Hydrogen Fuel Cell Vehicle Sales in Volume by Country (2018-2023)
8.1.3 Latin America Hydrogen Fuel Cell Vehicle Sales in Value by Country (2018-2023)
8.2 Latin America Hydrogen Fuel Cell Vehicle Forecasted Market Size by Country
8.2.1 Latin America Hydrogen Fuel Cell Vehicle Sales in Volume by Country (2024-2029)
8.2.2 Latin America Hydrogen Fuel Cell Vehicle Sales in Value by Country (2024-2029)
9 Middle East and Africa Hydrogen Fuel Cell Vehicle by Country
9.1 Middle East and Africa Hydrogen Fuel Cell Vehicle Historic Market Size by Country
9.1.1 Middle East and Africa Hydrogen Fuel Cell Vehicle Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Hydrogen Fuel Cell Vehicle Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Hydrogen Fuel Cell Vehicle Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Hydrogen Fuel Cell Vehicle Forecasted Market Size by Country
9.2.1 Middle East and Africa Hydrogen Fuel Cell Vehicle Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Hydrogen Fuel Cell Vehicle Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Daimler
10.1.1 Daimler Company Information
10.1.2 Daimler Introduction and Business Overview
10.1.3 Daimler Hydrogen Fuel Cell Vehicle Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Daimler Hydrogen Fuel Cell Vehicle Products Offered
10.1.5 Daimler Recent Development
10.2 Honda
10.2.1 Honda Company Information
10.2.2 Honda Introduction and Business Overview
10.2.3 Honda Hydrogen Fuel Cell Vehicle Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Honda Hydrogen Fuel Cell Vehicle Products Offered
10.2.5 Honda Recent Development
10.3 Hyundai
10.3.1 Hyundai Company Information
10.3.2 Hyundai Introduction and Business Overview
10.3.3 Hyundai Hydrogen Fuel Cell Vehicle Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Hyundai Hydrogen Fuel Cell Vehicle Products Offered
10.3.5 Hyundai Recent Development
10.4 Toyota
10.4.1 Toyota Company Information
10.4.2 Toyota Introduction and Business Overview
10.4.3 Toyota Hydrogen Fuel Cell Vehicle Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Toyota Hydrogen Fuel Cell Vehicle Products Offered
10.4.5 Toyota Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Hydrogen Fuel Cell Vehicle Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Hydrogen Fuel Cell Vehicle Industrial Chain Analysis
11.4 Hydrogen Fuel Cell Vehicle Market Dynamics
11.4.1 Hydrogen Fuel Cell Vehicle Industry Trends
11.4.2 Hydrogen Fuel Cell Vehicle Market Drivers
11.4.3 Hydrogen Fuel Cell Vehicle Market Challenges
11.4.4 Hydrogen Fuel Cell Vehicle Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Hydrogen Fuel Cell Vehicle Distributors
12.3 Hydrogen Fuel Cell Vehicle Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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