Global Fuel Cell Vehicle Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2017–2025
Global Fuel Cell Vehicle Market: Overview
A fuel cell vehicle (FCV) is a category of electric vehicle which incorporate a fuel cell, instead of a battery to power its on-board electric motor. Fuel cell vehicles (FCVs) have the potential to considerably reduce dependence on foreign oil and lesser harmful emissions that contribute to the climate change. They are also called as fuel cell electric vehicle (FCEV) and can use fuel cell in combination with a battery or super-capacitor. They run on hydrogen gas rather than gasoline and emit no harmful tailpipe emissions.
Global Fuel Cell Vehicle Market: Growth Factors
The primary factors driving the growth of the global fuel cell vehicle market are rise in the hydrogen fuel cell vehicle globally, unique and environment friendly nature and decreasing dependence on oil imports. In addition, high power density, silent operations, and high efficiency conversion are some of the aspects boosting the market growth. However, high initial cost may hamper the market growth. Moreover, stringent environmental regulations and strong participation by leading manufacturers are expected to generate numerous growth opportunities for the market in the coming years.
Global Fuel Cell Vehicle Market: Segmentation
Type and geography are the segments considered in the global fuel cell vehicle market. The type segment is sub-segmented into forklifts, buses, airplanes, motorcycles & bicycles, submarines, boats, and trams. Regionally, it is analyzed across North America, Europe, Asia-Pacific, and Rest of the World.
Global Fuel Cell Vehicle Market: Regional Analysis
The world market for fuel cell vehicle has been geographically divided into the geographies of North America, Europe, Asia-Pacific and Rest of the World. The region of North America is projected to continue with market supremacy in the global market for fuel cell vehicle. Asia-Pacific is projected to account for considerable revenue in the world market and is expected to grow with the fastest pace. The growth in the APAC region is due to government initiatives encouraging the technology principally in developing economies such as India, China, South Korea, and Vietnam.
Global Fuel Cell Vehicle Market: Competitive Players
Key players profiled in the report include Ballard Power Systems, Cellkraft AB, Altergy Systems, Acumentrics SOFC Corporation, Ceramic Fuel Cells Ltd., BIC Consumer Products, Automotive Fuel Cell Cooperation Corp., and AFC Energy among others. Other players operating in the market are Nissan, Toyota Motor, BMW, Audi, Daimler and others.
Global Fuel Cell Vehicle Market: Regional Segment Analysis
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- South America
- Middle East
What Report Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis