About Hydrogen Fuel Vehicles
Hydrogen fuel vehicles are the same as electric vehicles. Hydrogen fuel vehicles generate their electricity onboard. In a fuel cell, hydrogen gas from the vehicle's fuel tank combines with oxygen from the air to generate electricity with only water and heat as by-products of the process.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Global Hydrogen Fuel Vehicles is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Toyota (Japan), Honda Motor Company (Japan), General Motors (United States), Lexus (Japan), Audi (Germany), Bayerische Motoren Werke AG (Germany), Ford Motor Company (United States), Mercedes-Benz (Germany) and Riversimple (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hydrogen Fuel Vehicles market by Type (Buses, Trams and trains, Ships, Bicycles, Military vehicles and Others) and Region.
On the basis of geography, the market of Hydrogen Fuel Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Proton Exchange Membrane Fuel Cell will boost the Hydrogen Fuel Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Renewable and Readily Available will boost the Hydrogen Fuel Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Verticals, the sub-segment i.e. Public Verticals will boost the Hydrogen Fuel Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Environmental concern
Market Growth Drivers:
Rapid Shift towards Zero-emission Vehicles
Challenges:
Lack of Hydrogen Fueling Stations
Restraints:
Preference towards Electric Vehicles
Opportunities:
Government Investment creates Opportunities for the Hydrogen Fuel Vehicles Market Growth
Market Leaders and their expansionary development strategies
In July 2023, Nikola Corporation, a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, and Fortescue Future Industries (FFI), a global green energy and metals company committed to leading the world in stepping beyond fossil fuels by developing green electrons, green hydrogen and green technology at scale, today announced FFI will acquire Nikola's Phoenix Hydrogen Hub (PHH) project. FFI will bring the capital and resources required to fully develop the project and the parties are working towards a hydrogen supply agreement to support Nikola's Class 8 zero-emission trucks.
In 2020, Toyota has launched the completely new “Mirai”, a fuel cell electric vehicle. The vehicle runs on hydrogen, it is ultimately an eco-car that offers long cruising ranges with a short refueling time and generates zero emissions.
Key Target Audience
Hydrogen Fuel Vehicles Manufacturers, Hydrogen Fuel Vehicles Suppliers and Distributors, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.