About Hydrogen Car
A hydrogen car is an alternative fuel vehicle that uses hydrogen for motive power. Hydrogen cars are becoming more popular as they can achieve longer distances compared to fully electric vehicles. Unlike conventional gasoline or diesel-powered vehicles that burn fossil fuels, hydrogen cars utilize hydrogen gas and oxygen from the air to produce electricity through a process called electrochemical conversion in a fuel cell. EV manufacturers are investing more in the production of electric vehicles with hydrogen fuel cell technology and technological advancements for the better convenience of their consumers. The government regulations on the co2 emissions from passenger cars and commercial vehicles will accelerate the adoption of fuel-cell electric vehicles.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Hydrogen Car market throughout the forecasted period. 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), Hyundai Motor Company (South Korea), Riversimple (United Kingdom), Tata Motors (India), Mercedes-Benz Group (Germany), Bayerische Motoren Werke AG (Germany), Audi (Germany) and General Motors (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Groupe Renault (France) and BAIC Group (China).
Segmentation Overview
AMA Research has segmented the market of Global Hydrogen Car market by , Application (Personal and Commercial) and Region.
On the basis of geography, the market of Hydrogen Car 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 Membrane Exchange will boost the Hydrogen Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Focus on the Technology Advancements to Increase Efficiency
Market Growth Drivers:
Increased Adoption of Hydrogen Fuel Cell Cars Compared to Battery Electric Cars and Growing Popularity of Hybrid Cars Compared to Fully Electric Cars Among the Consumers
Challenges:
Lack of Proper Infrastructure Related to Hydrogen Cars
Restraints:
High Cost of Hydrogen Cars and High Depreciation Cost
Opportunities:
Emerging Trend of Hydrogen-Fueled Transportation Across European Countries
Market Leaders and their expansionary development strategies
Renovo Motors is acquired by Toyota subsidiary Woven Planet Holdings, a developer of vehicle operating systems. Acquisition to Supply More Resources to Power World-Class Technology and Create the World's Safest Mobility
The improved Nexon EV MAX XZ+ LUX had been launched by Tata Motors. This top-tier MAX model has been upgraded with superior and high-tech features, including a HARMAN 26.03 cm (10.25 inch) touchscreen infotainment system, a high-resolution (1920 x 720) HD display with responsive touch controls, Android AutoTM and Apple CarPlayTM over WiFi, a high-definition rearview camera
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Hydrogen Car Manufacturers, Raw Material Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Users
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.