The latest report on Hydrogen Fuel Cell Vehicle Market by Infinium Global Research gives complete coverage of the Hydrogen Fuel Cell Vehicle Market by technology (alkaline fuel cell, proton exchange membrane fuel cell, solid oxide fuel cell), vehicle type (passenger cars, commercial vehicle) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of Hydrogen Fuel Cell Vehicle such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Greenhouse Emission Drives the Growth of The Global Hydrogen Fuel Cell Vehicle Industry
A hydrogen fuel cell vehicle uses hydrogen fuel for motive power. It offers various benefits such as easy maintenance, lower gas emissions, silent functioning that reduces noise pollution. Moreover, the increasing inclination toward the reduction of air pollution and greenhouse emission drives the growth of the global hydrogen fuel cell vehicle market. Furthermore, a number of countries have developed hydrogen infrastructure plans to meet the FCV deployment requirement will further boost the global market. For instance, Korea had 13 completed hydrogen refueling stations in 2015 and is expected to have a total of 168 hydrogen stations by 2020.
Furthermore, the hydrogen fuel cell vehicle market is likely to gain importance owing to its rapid advancement. Additionally, the key automobile manufacturers are spending heavily and are moving towards hydrogen fuel cell vehicles. On the other hand, the high cost of the vehicle and huge initial investment required for infrastructure are some factors expected to hamper the growth of the hydrogen fuel cell vehicle market. Going further, expanding government expenditure on the automotive sector along with the development of cost-effective hydrogen fuel cell vehicles creates an opportunity for a global hydrogen fuel cell vehicle market in the coming years.
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Effective Hydrogen Fuel Cell Vehicle Creates an Opportunity For A Global Hydrogen Fuel Cell Vehicle Industry
In terms of geography, North America is accounted to hold maximum share and will continue to dominate the market throughout the forecast period owing to the development of infrastructures of a hydrogen fuel cell. Furthermore, the expansions of hydrogen fueling infrastructure are majorly accelerated by major companies operating in countries such as the U.K., Germany has announced plans to help the funding of hydrogen fueling stations. Which in turn, drives the growth of the European region. On the other hand, Asia-Pacific is anticipated to grow at a significant growth rate over the forecast period. The development of automotive manufacturing industries in developing economies such as China, India, Japan, and South Korea continued its strong support of fuel cell technology.
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Reasons to Buy this Report:
Comprehensive analysis of global as well as regional markets of the Hydrogen Fuel Cell Vehicle.
Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.